ASP, BSP, CSP, and SLA Will Not Pursue Proposed Merger.MINNEAPOLIS -- The Board of Directors of American Strategic Income Portfolio Inc. (ASP), American Strategic Income Portfolio Inc.-II (BSP BSP Bromsulphalein, a dye used in the study of liver function. See also sulfobromophthalein clearance test. ), American Strategic Income Portfolio Inc.-III (CSP (1) (Certified Systems Professional) An earlier award for successful completion of an ICCP examination in systems development. See ICCP. (2) (Commerce Service P ), and American Select Portfolio Inc. (SLA (1) (StereoLithography Apparatus) See 3D printing. (2) (Service Level Agreement) A contract between the provider and the user that specifies the level of service expected during its term. ) (together, the Funds), in consultation with U.S. Bancorp Asset Management, the investment adviser to the Funds, announced today that it will not pursue the previously proposed merger of the Funds into First American Strategic Real Estate Portfolio Inc., a real estate investment trust formed for purposes of the merger. The Board of Directors and U.S. Bancorp Asset Management are currently exploring other options, including the possibility of combining these four closed-end Funds into a single closed-end fund that would continue to be registered under the Investment Company Act. Based in Minneapolis, U.S. Bancorp Asset Management, Inc., a subsidiary of U.S. Bank National Association, serves as the investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and to the First American Funds. It provides investment management services to individuals and institutions-including corporations, foundations, pension funds, public funds, and retirement plans-and has combined assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. of more than $122 billion as of June 30, 2005. U.S. Bank National Association is a separate entity and wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of U.S. Bancorp, the sixth-largest(a) financial services holding company in the United States as of June 30, 2005, and a leading provider of comprehensive banking, trust, investment and payment systems products and service. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp at usbank.com. Investment products, including shares of closed-end 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 Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. , the Federal Reserve Board, or any other agency. An investment in such products involves investment risk, including possible loss of principal. (a) Information provided by U.S. Bank Investor Relations. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion