MINNEAPOLIS, Dec. 16 /PRNewswire-FirstCall/ -- U.S. Bancorp Asset
Management today announced that it has named Tom Gunderson, CFA, as the new
lead manager of the First American Large Cap Growth Opportunities Fund, which
had more than $1.2 billion in assets under management as of Sept. 30, 2003.
Gunderson joins the mid- and large-cap growth team headed by Dave
Lettenberger, with Hal Goldstein continuing on the team as co-manager of the
Large Cap Growth Opportunities Fund.
Gunderson, who has 20 years of investment experience, joins the firm from
Advantus Capital Management in St. Paul, where he has managed large-cap growth
portfolios since 1994 and has been a portfolio manager since 1988. Gunderson
has an M.B.A. in finance from the University of Michigan and a B.A. in
economics from St. Olaf College. He has been a chartered financial analyst
"We're very excited that Tom will be heading up our Large Cap Growth
Opportunities Fund," said David Chalupnik, head of equities for U.S. Bancorp
Asset Management. "We believe he'll fit well within our investment culture."
Gunderson assumed his duties on December 1 at the firm's Minneapolis
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 $122 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 Sept. 30, 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 $122 billion as of Sept. 30, 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, 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. First
American Funds are distributed by Quasar Distributors, LLC, an affiliated
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.