Piper Capital Management Announces Financial Position for Closed-End Funds.MINNEAPOLIS--(BUSINESS WIRE)--Nov. 11, 1997--Piper Capital Management announced the financial position for the following closed-end funds Closed-end fund An investment company that issues shares like any other corporation and usually does not redeem its shares. A publicly traded fund sold on stock exchanges or over the counter that may trade above or below its net asset value. Related: Open-end fund. for the month ended October 31, 1997. Net investment income and distribution information for the month ended October 31, 1997: -0-
Accumulated
Preferred Undistributed
Common Distri- Net Net
Monthly butions Investment Investment
Distri- During Income/ Income/
Fund Symbol butions (a) Month (b) Share (c) Share (d)
American
Municipal
Term Trust AXT $0.0542 $0.0150 $0.0752 $0.7419
American
Municipal
Term Trust-II BXT $0.0517 $0.0148 $0.0735 $0.7240
American
Municipal
Term Trust-III CXT $0.0475 $0.0148 $0.0680 $0.4814
Minnesota
Municipal
Term Trust MNA $0.0509 $0.0156 $0.0730 $0.7482
Minnesota
Municipal
Term Trust-II MNB $0.0492 $0.0153 $0.0676 $0.5056
American
Municipal
Income Portfolio XAA $0.06275 $0.0227 $0.0830 $0.0691
Minnesota
Municipal
Income Portfolio MXA $0.063125 $0.0232 $0.0869 $0.1841
Common Accumulated
Monthly Undistributed
Distri- Net Investment Net Investment
Fund Symbol butions (a) Income/Share (c) Income/Share (d)
American
Strategic
Income Portfolio ASP $0.0800 $0.0792 $0.0612
American
Strategic
Income
Portfolio-II BSP $0.0825 $0.0849 $0.0799
American
Strategic
Income
Portfolio-III CSP $0.0825 $0.0865 $0.1242
American
Select Portfolio SLA $0.0850 $0.0886 $0.1414
American
Government
Income Fund AGF $0.0300 $0.0291 $0.0111
American
Government
Income Portfolio AAF $0.0350 $0.0351 $0.0223
American
Opportunity
Income Fund OIF $0.0370 $0.0346 $0.0075
The Americas
Income Trust XUS $0.0550 $0.0614 (e) $0.0840 (e)
Highlander
Income Fund HLA $0.0940 $0.0897 $0.0051
-0-
(a) Distributions for AXT, BXT, CXT, MNA, MNB, XAA, MXA and XUS
were declared on September 12, 1997. They had an October 1,
1997, ex-dividend date and were paid on October 29, 1997, to
shareholders of record on October 3, 1997. Distributions for
ASP, BSP, CSP, SLA, AGF, AAF and OIF were declared on September
12, 1997. They had an October 1, 1997, ex-dividend date and
were paid on October 15, 1997, to shareholders of record on
October 3, 1997.
(b) Calculated by dividing the amount of preferred distributions
paid in the month by the number of common shares outstanding.
(c) Based on a three-month average.
(d) Accumulated, undistributed 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) Includes the effect of foreign currency gains/losses.
-0-
Financial positions for the month ended October 31, 1997:
Total Assets Net Assets (f) NAV per
Symbol (000) (000) Common Share
AXT $141,624 $98,002 $11.59
BXT $124,054 $85,710 $11.65
CXT $87,892 $60,214 $11.36
MNA $95,314 $64,827 $11.31
MNB $57,293 $37,906 $10.96
XAA $130,439 $83,860 $14.57
MXA $92,623 $60,446 $14.58
ASP $78,853 $67,734 $12.91
BSP $333,776 $260,248 $13.05
CSP $439,035 $333,244 $12.46
SLA $239,957 $171,683 $12.92
AGF $156,156 $125,349 $5.85
AAF $205,808 $169,909 $6.94
OIF $193,575 $151,693 $6.69
XUS $75,767 $55,963 $8.95
HLA $33,300 $29,231 $14.69
Financial positions for the month ended October 31, 1996:
Total Assets Net Assets (f) NAV per
Symbol (000) (000) Common Share
AXT $141,776 $98,311 $11.63
BXT $121,987 $84,518 $11.49
CXT $84,592 $57,631 $10.87
MNA $92,993 $64,137 $11.19
MNB $54,553 $37,163 $10.74
XAA $125,848 $80,343 $13.96
MXA $89,109 $57,942 $13.97
ASP $80,083 $65,945 $12.57
BSP $280,091 $256,254 $12.85
CSP $365,911 $327,941 $12.26
SLA $232,729 $167,175 $12.58
AGF $139,984 $122,888 $5.73
AAF $189,644 $166,009 $6.78
OIF $177,553 $147,921 $6.53
XUS $70,331 $55,063 $8.81
HLA $34,531 $28,164 $14.09
Financial positions for the month ended October 31, 1995:
Total Assets Net Assets (f) NAV per
Symbol (000) (000) Common Share
AXT $141,612 $98,986 $11.71
BXT $121,828 $84,742 $11.52
CXT $83,644 $56,982 $10.75
MNA $92,935 $64,055 $11.17
MNB $54,329 $36,934 $10.67
XAA $138,201 $78,784 $13.69
MXA $88,007 $56,823 $13.70
ASP $85,136 $69,953 $13.21
BSP $312,592 $262,099 $13.04
CSP $410,975 $335,283 $12.44
SLA $236,538 $171,157 $12.78
AGF $132,531 $127,416 $5.91
AAF $181,375 $173,726 $7.08
OIF $160,462 $152,810 $6.66
XUS $51,783 $51,752 $8.21
HLA $33,939 $27,681 $13.85
(f) Net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. reflect common stock only. The difference between net assets and total assets for AXT AXT Alternating Exotropia , BXT BXT Benzene, Xylene and Toluene , CXT CXT Crazy Town (band) CXT Commercial Extreme Truck (International/Navistar) CXT Conventional Xmas Tree (oilfield production equipment) CXT Cellular Extension CXT Context , MNA MNA Monitored Natural Attenuation MNA Massachusetts Nurses Association MNA Michigan Nonprofit Association MNA Mini-Nutritional Assessment MNA Mission to North America (Presbyterian Church in America outreach) , MNB MNB Magyar Nemzeti Bank (National Bank of Hungary) MNB Multi-National Brigade (NATO) MNB Mint Condition, No Box MNB Metropolitan National Bank MNB Michigan National Bank MNB Merchants' National Bank , XAA XAA Xfree86 Acceleration Architecture XAA Unspecified Amino Acid and MXA MXA McIntosh Xaba and Associates MXA Malcolm X Academy (Detroit, Michigan) MXA Mobile Exercise Area is primarily due to the issuance of preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . For ASP asp, popular name for several species of viper, one of which, the European asp (Vipera aspis), is native to S Europe. It is also a name for the Egyptian cobra (Naja haja). , BSP BSP Bromsulphalein, a dye used in the study of liver function. See also sulfobromophthalein clearance test. , 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 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. , the difference is primarily due to the funds' use of borrowings. For AGF AGF Assurances Générales de France AGF Army Ground Forces AGF American Growth Fund (mutual fund) AGF American General Finance AGF Arbeitsgemeinschaft der Grossforschungseinrichtungen AGF Anatomic Gift Foundation AGF Assume Good Faith , AAF AAF abbr. Army Air Forces and OIF OIF Operation Iraqi Freedom OIF Organisation Internationale de la Francophonie (French: International Organization of Francophonie) OIF Office for Intellectual Freedom (American Library Association) , the difference is primarily due to the funds' use of borrowings and participation in the dollar-roll program. Piper Capital Management Incorporated, a money management firm based in Minneapolis, manages numerous open- and closed-end funds. It is a 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 Piper Jaffray Piper Jaffray & Co. (NYSE: PJC), often shortened to just Piper Jaffray or PiperJaffray, is a U.S. middle-market investment banking firm based in Minneapolis, Minnesota and is a focused on delivering financial advice, investment products and transaction execution Companies Inc., an investment firm founded in 1895. Note to Editors: Many of our closed-end funds have similar names. To avoid confusion, please use the full name including the Roman number when referencing this financial position release. CONTACT: Piper Capital Mutual Fund Services 800/866-7778 (Press 5) |
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