U.S. Bancorp Asset Management, Inc. (NYSE:USB) today announced the
financial positions for the following closed-end funds for the month
ended March 31, 2014.
Net investment income and distribution information for the
month ended March 31, 2014:
N/A = Not Applicable
Financial positions for the month ended March 31, 2014:
Financial positions for the month ended March 31, 2013:
Financial positions for the month ended March 31, 2012:
The aforementioned financial data is unaudited. It has, however, been
obtained from sources deemed reliable.
ASP, BSP, CSP and SLA distributions are payable in cash or, pursuant to
the funds' dividend reinvestment plans, reinvested in additional shares
of the funds' common stock. Under each fund's plan, fund shares will be
purchased on the open market when the price of the fund's shares on the
New York Stock Exchange plus per share fees is less than a 5% premium
over the fund's most recently calculated net asset value per share. If,
at the close of business on the dividend payment date, the shares
purchased in the open market are insufficient to satisfy the dividend
reinvestment requirement, payment of the dividend, or the remaining
portion, will be accepted in authorized but unissued shares of the fund.
These shares will be issued at a per-share price equal to the higher of
(a) the net asset value per share as of the close of business on the
payment date or (b) 95% of the closing market price per share on the
MRF distributions are payable in cash or, pursuant to the fund's
dividend reinvestment plan, reinvested in additional shares of the
fund's common stock. If you participate in the plan, you will receive
the equivalent in shares of the fund as follows: (1) if the market price
of the shares on the payment date of the dividend or distribution is
equal to or exceeds the fund's net asset value, participants will be
issued fund shares at the higher of net asset value or 95% of the market
price; or (2) if the market price is lower than net asset value, the
plan agent will receive the dividend or capital gain distributions in
cash and apply them to buy fund shares on your behalf in the open
market, on the New York Stock Exchange or elsewhere, for your account.
If the market price exceeds the net asset value of the fund's shares
before the plan agent has completed its purchases, the average per-share
purchase price paid by the plan agent may exceed the net asset value of
the fund's shares. This would result in the acquisition of fewer shares
than if the dividend or capital gain distributions had been paid in
shares issued by the fund.
XAA, MXA and MXN distributions are payable in cash or, pursuant to the
funds' dividend reinvestment plans, reinvested in additional shares of
the funds' common stock. Under each fund's plan, fund shares will be
purchased on the exchange on which the fund is listed or elsewhere on
the open market.
During certain periods, each fund may pay distributions at a rate that
may be more or less than the amount of net investment income actually
earned by the fund during the period. Each closed-end fund will provide
a notice, as required by Section 19(a) of the Investment Company Act of
1940, as amended, for any distribution that does not consist solely of
net investment income. Any such notice will provide information
regarding the estimated amounts of the distribution derived from net
investment income, net realized capital gains and return of capital.
Such notices will be for informational purposes only and the amounts
indicated in such notices likely will differ from the ultimate federal
income tax characterization of distributions reported to shareholders on
Form 1099-DIV after year end.
Minneapolis-based U.S. Bancorp Asset Management, Inc. serves as
investment advisor to the First American Closed-End Funds. A subsidiary
of U.S. Bank National Association, U.S. Bancorp Asset Management focuses
on providing investment management services to institutional clients,
including corporations, public entities and nonprofits. It has combined
assets under management of more than $52 billion as of March 31, 2014.
First American Closed-End Funds are subadvised by Nuveen Fund Advisors,
Inc. and Nuveen Asset Management, LLC.
Investment products, including shares of closed-end funds, are not
obligations of, or guaranteed by, any bank, including U.S. Bank National
Association 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.
U.S. Bank National Association is a separate entity and wholly owned
subsidiary of U.S. Bancorp, the fifth-largest commercial bank in the
United States, and provides a comprehensive line of banking, brokerage,
insurance, investment, mortgage, trust and payment services products to
consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
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