Business Services Industry
The Americas Income Trust and Highlander Income Fund to merge into First American Strategic Income Fund
Business Wire, July 27, 1998
MINNEAPOLIS--(BUSINESS WIRE)--July 27, 1998--Piper Capital Management announced today that The Americas Income Trust (NYSE: XUS) and Highlander Income Fund (AMEX:HLA) will both reorganize into the First American Strategic Income Fund, a newly created open-end fund advised by First American Asset Management.
The following final NAV's will be used in the exchange of XUS and HLA shares:
The Americas Income Trust $9.198 Highlander Income Fund $14.537
The NAV of Strategic Income Fund is $10.00 per share. The Americas Income Trust and Highlander Income Fund are managed by Piper Capital Management Incorporated. Piper Capital is an indirect wholly owned subsidiary of U.S. Bancorp. First American Funds are managed by First American Asset Management, a division of U.S. Bank.
CONTACT: First American Asset Management
Susan Farrell, 612/342-1162
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