2002 Target Term Trust Inc. -Portfolio Statistics.Business Editors NEW YORK--(BUSINESS WIRE)--Nov. 7, 2001 2002 Target Term Trust Inc. (NYSE NYSE See: New York Stock Exchange : TTR TTR Transthyretin TTR Ticket To Ride (World Snowboard Tour) TTR Transformer Turns Ratio (electric power transmission and distribution) TTR Time To Repair TTR Time to Read ), a closed-end closed-end adj. Issuing a fixed number of shares that can be traded publicly but are not redeemable by the issuer: a closed-end investment company. management investment company investing in high quality fixed-income and adjustable-rate securities, today announced its portfolio characteristics as of October October: see month. 31, 2001. Portfolio Statistics (% of total portfolio assets) as of October 31, 2001:
Portfolio Composition
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Collateralized Mortgage Obligations 32.2%
Agency CMOs 8.9%
Non-Agency CMOs 22.4%
Non-Rated CMOs 0.9%
Adjustable Rate Mortgages 6.1%
Agency ARMs 5.3%
Non-Agency ARMs 0.8%
Collateral 64.5%
Mortgage-Backed Derivatives 1.0%
Agency MBD 0.8%
Non-Agency MBD 0.2%
Asset-Backed Securities 2.7%
Cash & Cash Equivalents -6.5%
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Total 100.00%
Characteristics
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Net Leverage 1.0%
Average Credit Quality AAA
Convexity -1.01
Weighted Avg Maturity 4.23 yrs
Weighted Avg Duration 0.60 yrs
Weighted Avg Coupon 6.85%
Net Asset Value $14.70
Market Price $14.40
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Yields+
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Market Yield 4.58%
NAV Yield 4.49%
IPO Yield 4.40%
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+Market yield is calculated by multiplying mul·ti·ply 1 v. mul·ti·plied, mul·ti·ply·ing, mul·ti·plies v.tr. 1. To increase the amount, number, or degree of. 2. Mathematics To perform multiplication on. the current month's distribution (excluding the special dividend) by 12 and dividing by the month-end market price. NAV See navigation system and navigation bar. yield is calculated by multiplying the current month's distribution (excluding the special dividend) by 12 and dividing by the month-end net asset value. IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. yield is calculated by multiplying the current month's distribution (excluding the special dividend) by 12 and dividing by the initial public offering price. Prices and yields will vary. The Fund is actively managed and its portfolio composition will vary over time. FOR IMMEDIATE RELEASE |
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