MINNEAPOLIS, June 4 /PRNewswire-FirstCall/ -- U.S. Bancorp Asset
Management today announced that it has named Matt Finn, CFA, as the new lead
manager of the First American Large Cap Value Fund, which had more than
$949 million in assets under management as of March 31, 2003. Finn joins the
firm from Advantus Capital Management in St. Paul and before that, Evergreen
Investment Management in Boston. The current fund manager, Brent Mellum, will
continue to be an important member of the fund's management team.
Finn, who has 18 years of investment experience, served as head of
equities at Advantus Capital Management for two years and as chief investment
officer for the growth and income group at Evergreen Investment Management for
three years. Finn has 13 years of experience managing large-cap value
products. He has an M.B.A. degree from the University of Michigan and holds
the Chartered Financial Analyst designation.
"We're very excited that Matt will be heading up our Large Cap Value
Fund," said David Chalupnik, head of equities for U.S. Bancorp Asset
Management. "He brings an exceptional history of achieving consistent,
superior performance in large-cap value. We're delighted to have him join us
and believe he'll fit well within our investment culture."
Finn assumed his duties on June 2 at the firm's Minneapolis headquarters.
About First American Funds
The First American Funds family of mutual funds is the fifth-largest,
bank-affiliated mutual fund family in the United States.
About U.S. Bancorp Asset Management
With more than $115 billion* in assets under management, U.S. Bancorp
Asset Management is the 37th-largest asset manager domiciled in the United
States and one of the nation's leading money managers to institutions and
individuals. The firm provides portfolio management to corporations, public
entities, nonprofit and other institutions, as well as advising the First
American family of mutual funds and providing customized portfolio management
for private clients.
* Total assets listed as of March 31, 2003
Based in Minneapolis, U.S. Bancorp Asset Management, Inc., is a subsidiary
of U.S. Bank National Association. It provides investment management services
to individuals and institutions -- including corporations, nonprofit
organizations, public entities, and labor unions -- which had combined assets
under management of more than $115 billion as of March 31, 2003. The firm has
offices in 22 states.
U.S. Bancorp Asset Management, Inc., a subsidiary of U.S. Bank National
Association ("U.S. Bank"), serves as the investment advisor to the First
American Funds. U.S. Bank is a separate entity and wholly owned subsidiary of
U.S. Bancorp (NYSE: USB), the eighth-largest financial services holding
company in the United States and a leading provider of comprehensive banking,
trust, investment, and payment systems products and services. U.S. Bancorp is
the parent company of U.S. Bank.
For a prospectus containing more complete information on First American
Funds, including investment policies, risks, fees and expenses, please contact
your investment professional, call First American Funds investor services at
800.677.FUND, or visit us at firstamericanfunds.com . Please read the
prospectus carefully before you invest or send money.
Mutual fund investing involves risk; principal loss is possible. Past
performance is no guarantee of future results. The principal value and
investment return of an investment will fluctuate so that an investor's
shares, when redeemed, may be worth more or less than their original cost.
First American Funds are distributed by Quasar Distributors, LLC, an
Investment products, including shares of mutual funds, are not obligations
of, or guaranteed by, any bank, including U.S. Bank or any U.S. Bancorp
affiliate, nor are they insured by the Federal Deposit Insurance Corporation,
the Federal Reserve Board or any other agency. An investment in such products
involves investment risk, including possible loss of principal.
SOURCE U.S. Bancorp Asset Management, Inc.