FAF Advisors, Inc. today announced the financial positions for the following closed-end funds for the month of October 31, 2009.
Net investment income and distribution information for the month ended October 31, 2009:
| Fund | Symbol | Common Monthly Distributions (a) | Preferred Distributions During Month (b) | Net Investment Income/ Share (c) | Accumulated | ||||
| American Strategic Income Portfolio | ASP | $0.0700 | N/A | $0.0698 | $0.0482 | ||||
| American Strategic Income Portfolio II | BSP | $0.0700 | N/A | $0.0584 | $0.0409 | ||||
| American Strategic Income Portfolio III | CSP | $0.0550 | N/A | $0.0475 | $(0.0434) | ||||
| American Select Portfolio | SLA | $0.0750 | N/A | $0.0693 | $0.0343 | ||||
| American Income Fund | MRF | $0.0600 | N/A | $0.0652 | $0.0900 | ||||
| American Municipal Income Portfolio | XAA | $0.0800 | $0.0028 | $0.0823 | $0.1373 | ||||
| Minnesota Municipal Income Portfolio | MXA | $0.0750 | $0.0029 | $0.0793 | $0.1376 | ||||
| Minnesota Municipal Income Fund II | MXN | $0.0725 | $0.0034 | $0.0821 | $0.1016 | ||||
N/A = Not Applicable | |||||||||
Financial positions for the month ended October 31, 2009:
| Fund | Symbol | Total Assets | Net Assets (e) | NAV (1) per | |||
| American Strategic Income Portfolio | ASP | $71,499 | $54,052 | $12.77 | |||
| American Strategic Income Portfolio II | BSP | $250,755 | $182,184 | $11.40 | |||
| American Strategic Income Portfolio III | CSP | $311,400 | $222,259 | $10.41 | |||
| American Select Portfolio | SLA | $185,923 | $132,374 | $12.42 | |||
| American Income Fund | MRF | $109,285 | $73,143 | $7.74 | |||
| American Municipal Income Portfolio | XAA | $122,900 | $78,339 | $13.61 | |||
| Minnesota Municipal Income Portfolio | MXA | $88,871 | $57,696 | $13.91 | |||
| Minnesota Municipal Income Fund II | MXN | $33,489 | $20,434 | $13.88 | |||
Financial positions for the month ended October 31, 2008:
| Fund | Symbol | Total Assets | Net Assets (e) | NAV (1) per | |||
| American Strategic Income Portfolio | ASP | $59,390 | $45,221 | $10.69 | |||
| American Strategic Income Portfolio II | BSP | $228,435 | $170,865 | $10.69 | |||
| American Strategic Income Portfolio III | CSP | $301,563 | $229,118 | $10.73 | |||
| American Select Portfolio | SLA | $168,142 | $123,362 | $11.57 | |||
| American Income Fund | MRF | $91,079 | $63,639 | $6.73 | |||
| American Municipal Income Portfolio | XAA | $107,418 | $63,823 | $11.09 | |||
| Minnesota Municipal Income Portfolio | MXA | $78,193 | $47,013 | $11.34 | |||
| Minnesota Municipal Income Fund II | MXN | $30,629 | $16,587 | $11.26 | |||
Financial positions for the month ended October 31, 2007:
| Fund | Symbol | Total Assets | Net Assets (e) | NAV (1) per | |||
| American Strategic Income Portfolio | ASP | $69,880 | $50,777 | $12.00 | |||
| American Strategic Income Portfolio II | BSP | $258,393 | $193,657 | $12.11 | |||
| American Strategic Income Portfolio III | CSP | $334,332 | $257,804 | $12.07 | |||
| American Select Portfolio | SLA | $198,443 | $139,092 | $13.05 | |||
| American Income Fund | MRF | $113,041 | $82,512 | $8.73 | |||
| American Municipal Income Portfolio | XAA | $128,948 | $84,059 | $14.60 | |||
| Minnesota Municipal Income Portfolio | MXA | $91,227 | $60,051 | $14.48 | |||
| Minnesota Municipal Income Fund II | MXN | $34,454 | $21,416 | $14.54 | |||
| (1) | NAVs are priced as of the close of business on the month-end and year as indicated above. | |
| (a) | These distributions were declared on September 25, 2009, had an October 1, 2009, ex-dividend date, and were paid on October 21, 2009, to shareholders of record on October 5, 2009. | |
| (b) | Calculated by dividing preferred distributions paid during the month by the number of common shares outstanding. | |
| (c) | Based on a three-month average. | |
| (d) | Accumulated undistributed (distributions in excess of) net investment income is reflected in a fund's net asset value. Any reduction of this amount will reduce net asset value penny-for-penny. | |
| (e) | The difference between net assets and total assets for XAA, MXA, and MXN is primarily due to the issuance of preferred stock; net assets reflect common stock only. For ASP, BSP, CSP, SLA, and MRF, the difference is primarily due to the funds' use of borrowings. | |
The aforementioned financial data is unaudited. It has, however, been obtained from sources deemed reliable.
The funds’ current and cumulative distributions paid this fiscal year are estimated from the following sources: net investment income, net realized gains and return of capital. Distribution estimates comprised of return of capital do not necessarily reflect the funds’ investment performance and should not be confused with ‘yield’ or ‘income’. The amounts reflected in this release are only estimates and are not being provided for tax purposes; actual amounts will depend upon the funds’ investment experience during the year and may be subject to change based on tax regulations. The final character of the distributions will be reported on Form 1099-DIV for federal income tax purposes.
The funds' investment advisor, FAF Advisors, Inc., is based in Minneapolis, MN and is a subsidiary of U.S. Bank National Association (USBNA). FAF Advisors provides investment management services to individuals and institutions, including corporations, foundations, pension funds, public funds, and retirement plans, and had combined assets under management of more than $103 billion as of September 30, 2009. USBNA is a subsidiary of U.S. Bancorp. Visit us on the web at usbank.com.
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.
Contacts:
Investor Services, 800-677-FUND