Piper Capital Management Announces Financial Position for Closed-End Funds.MINNEAPOLIS--(BUSINESS WIRE)--Jan. 9, 1998--Piper Capital Management announced the financial position for the following closed-end funds for the month ended December 31, 1997. Net investment income and distribution information for the month ended December 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 $0.1107(e) $0.0103 $0.0771 $0.7672
American
Municipal
Term Trust-II BXT $0.1052(f) $0.0102 $0.0748 $0.7494
American
Municipal
Term Trust-III CXT $0.1168(g) $0.0023 $0.0701 $0.5119
Minnesota
Municipal
Term Trust MNA $0.0875(h) $0.0109 $0.0743 $0.7733
Minnesota
Municipal
Term Trust-II MNB $0.0992(i) $0.0073 $0.0681 $0.5252
American
Municipal
Income Portfolio XAA $0.06275 $0.0247 $0.0830 $0.0568
Minnesota
Municipal
Income Portfolio MXA $0.063125 $0.0209 $0.0858 $0.1814
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 $0.0787 $0.0622
American
Strategic
Income
Portfolio-II BSP $0.0925(j) $0.0847 $0.0826
American
Strategic
Income
Portfolio-III CSP $0.1425(k) $0.0881 $0.0844
American
Select Portfolio SLA $0.1550(l) $0.0854 $0.0838
American
Government
Income Fund AGF $0.0300 $0.0293 $0.0126
American
Government
Income Portfolio AAF $0.0350 $0.0350 $0.0294
American
Opportunity
Income Fund OIF $0.0350 $0.0347 $0.0113
The Americas
Income Trust XUS $0.0550 $0.0633 (m) $0.1057(m)
Highlander
Income Fund HLA $0.1391(n) $0.0909 $0.0102
(a) Distributions 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 , MXA MXA McIntosh Xaba and Associates MXA Malcolm X Academy (Detroit, Michigan) MXA Mobile Exercise Area , XUS XUS Xml User Sheet and HLA HLA human leukocyte antigens. HLA abbr. human leukocyte antigen HLA (human leuckocyte antigen) had a December 1, 1997, ex-dividend date Ex-dividend date The first day of trading when the buyer of a stock is no longer entitled to the most recently announced dividend payment ( i.e. the trade will settle the day after the record date, too late for the buyer to appear on the shareholder record and receive the dividend. and were paid on December 17, 1997, to shareholders of record on December 3, 1997. Distributions 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 , OIF OIF Operation Iraqi Freedom OIF Organisation Internationale de la Francophonie (French: International Organization of Francophonie) OIF Office for Intellectual Freedom (American Library Association) , ASP, 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. had a December 8, 1997, ex-dividend date and were paid on December 22, 1997, to shareholders of record on December 10, 1997. (b) Calculated by dividing the preferred distributions paid during the month by the common shares outstanding. (c) Based on a three-month average. (d) Accumulated, undistributed Adj. 1. undistributed - (of investments) not distributed among a variety of securities undiversified - not diversified 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 $0.0542 from net investment income and $0.0565 from long-term capital gains Long-term capital gain A profit on the sale of a security or mutual fund share that has been held for more than one year. . (f) Includes $0.0517 from net investment income, $0.0009 from short-term capital gains and $0.0526 from long-term capital gains. (g) Includes $0.0475 from net investment income and $0.0693 from long-term capital gains. (h) Includes $0.0509 from net investment income, $0.0007 from short-term capital gains and $0.0359 from long-term capital gains. (i) Includes $0.0492 from net investment income and $0.0500 from long-term capital gains. (j) Includes a special dividend of $0.0100 from net investment income. (k) Includes a special dividend of $0.0600 from net investment income. (l) Includes a special dividend of $0.0700 from net investment income. (m) Includes the effect of foreign currency gains/losses. (n) Includes $0.0880 from net investment income and $0.0511 from long-term capital gains. -0-
Financial positions for the month ended December 31, 1997:
Total Assets Net Assets (o) NAV per
Symbol (000) (000) Common Share
AXT $140,334 $97,301 $11.51
BXT $123,506 $85,355 $11.60
CXT $88,270 $60,367 $11.39
MNA $95,399 $64,653 $11.28
MNB $57,394 $37,838 $10.94
XAA $130,284 $85,346 $14.83
MXA $93,772 $61,350 $14.79
ASP $74,278 $60,751 $12.86
BSP $321,571 $232,394 $12.95
CSP $425,498 $297,548 $12.36
SLA $222,287 $152,920 $12.79
AGF $113,085 $93,790 $5.83
AAF $148,726 $127,203 $6.93
OIF $134,578 $113,133 $6.66
XUS $80,583 $58,321 $9.33
HLA $33,300 $29,102 $14.63
Financial positions for the month ended December 31, 1996:
Total Assets Net Assets (o) NAV per
Symbol (000) (000) Common Share
AXT $142,317 $97,383 $11.52
BXT $123,158 $84,100 $11.43
CXT $85,060 $57,864 $10.92
MNA $93,036 $63,907 $11.15
MNB $54,599 $37,051 $10.71
XAA $124,459 $80,495 $13.98
MXA $89,517 $58,089 $14.01
ASP $75,035 $65,503 $12.48
BSP $285,823 $254,796 $12.78
CSP $365,598 $325,376 $12.17
SLA $232,400 $165,719 $12.48
AGF $139,740 $121,899 $5.69
AAF $189,564 $164,942 $6.74
OIF $177,224 $146,596 $6.47
XUS $71,528 $56,172 $8.99
HLA $32,437 $28,074 $14.11
Financial positions for the month ended December 31, 1995:
Total Assets Net Assets (o) NAV per
Symbol (000) (000) Common Share
AXT $143,048 $100,000 $11.83
BXT $123,637 $86,131 $11.71
CXT $85,802 $58,888 $11.11
MNA $93,983 $64,815 $11.31
MNB $55,256 $37,671 $10.89
XAA $126,221 $82,252 $14.29
MXA $90,624 $59,183 $14.27
ASP $84,458 $68,064 $12.92
BSP $314,614 $261,930 $13.09
CSP $412,340 $333,557 $12.43
SLA $237,534 $170,655 $12.81
AGF $127,596 $125,992 $5.86
AAF $181,087 $169,482 $6.91
OIF $161,478 $102,147 $6.64
XUS $51,909 $51,491 $8.24
HLA $32,102 $27,840 $13.97
-0-
(o) 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, BXT, CXT, MNA, MNB, XAA and MXA 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, BSP, CSP and SLA, the difference is primarily due to the funds' use of borrowings. For AGF, AAF and OIF, the difference is primarily due to the funds' use of borrowings and/or 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 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 Management Chad LaTour, 612/342-1162 |
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