MINNEAPOLIS--(BUSINESS WIRE)--Sept. 25, 2006--U.S. Bank's Private
Client Group has enhanced its investment offerings with a new
Separately Managed Account (SMA) product that gives investors greater
choice and objectivity in the management of their investment
U.S. Bank's SMA program offers clients access to a small and
highly select group of independent money managers that are typically
available only to very large individual and institutional investors.
Each manager is carefully selected and has demonstrated value-added
management over time. U.S. Bank partnered with an outside due
diligence firm, Prima Capital, to develop and maintain its SMA program
and to monitor its outside, non-proprietary managers. This complements
U.S. Bank's robust menu of proprietary investment solutions offered
through FAF Advisors.
"Our suite of products in Private Client Investment Solutions goes
well beyond traditional investment offerings," said Londa Dewey,
president of the U.S. Bank Private Client Group. "We've combined U.S.
Bank's extensive investment capabilities with the independent advice
of carefully selected, outside money managers to offer an array of
sophisticated options for every client. Our clients have the potential
of fully diversifying in a single, coordinated and convenient
relationship. Given the appropriate client objectives, this can be a
superb investment management opportunity for high net worth
individuals, as well as nonprofit organizations and foundations."
"Through a coordinated team of portfolio managers and trust
relationship managers, we offer significant breadth and depth of
expertise," continued Dewey. "Our focus is on customizing each
client's portfolio with the goal of generating solid, long-term
performance. We recommend strategies that work toward accomplishing
Private Client Investment Solutions, the Private Client Group's
investment product suite for suitable affluent clients, includes
SMA's, individually managed portfolios, a diversified menu of mutual
funds from U.S. Bank's First American Funds complemented by external
mutual funds, and several exchange-traded funds, fixed income and
alternative investments, including asset concentration strategies,
hedge funds and specialty asset products.
The U.S. Bank Private Client Group provides comprehensive wealth
management services to affluent families and individuals. The group
offers customized financial planning, investment management, personal
trust and private banking solutions through 118 Private Client Group
offices located in 24 states.
Prima Capital provides Research and Technology Solutions for
Wealth Management. These solutions may include data, objective
research, due diligence, and advice on separately managed accounts,
mutual funds, and ETFs to financial services companies and their
advisors delivered through Prima's customizable web services
technology. To learn more about Prima visit www.primacapital.com.
U.S. Bancorp (NYSE:USB), with assets of $213 billion, is the 6th
largest financial holding company in the United States. The company
operates 2,434 banking offices and 4,966 ATMs, and provides a
comprehensive line of banking, brokerage, insurance, investment,
mortgage, trust and payment services products to consumers, businesses
and institutions. U.S. Bancorp is the parent company of U.S. Bank.
Visit U.S. Bancorp on the web at www.usbank.com.
Investment products, including shares of mutual funds, are not
deposits or obligations of, or guaranteed by, U.S. Bank or any of its
affiliates, nor are they insured by the Federal Deposit Insurance
Corporation, or any other government agency. An investment in such
products involves investment risk, including possible loss of
Each fund's investment objectives, risks, charges, and expenses
must be considered carefully before investing, The prospectus contains
this and other information; contact your investment professional or
the fund for a copy. For First American Funds, call 800.677.FUND or
visit firstamerica.com for a copy. Read the prospectus carefully
Mutual fund investing involves risk; principal loss is possible.
U.S. Bank may also enter into agreements with non-proprietary
mutual funds or their service providers whereby U.S. Bank provides
shareholder services and/or sub-transfer agency, custodial and other
administrative support services and receives compensation for these
services. Compensation received by U.S. Bank directly or indirectly
from mutual funds does not increase fund fees and expenses beyond what
is disclosed in the prospectus. For more information, please review
the fund's prospectus.
FAF Advisors, Inc., is a registered investment advisor and
subsidiary of U.S. Bank National Association. FAF Advisors serves as
investment advisor to the First American Funds. U.S. Bank and its
affiliates receive compensation for services rendered to First
American Funds as disclosed in the fund prospectuses. First American
Funds are distributed by Quasar Distributors, LLC, an affiliate of the
CONTACT: U.S. Bank
Amy Frantti, 612-303-0733
SOURCE: U.S. Bank