PITTSBURGH, July 30, 2015 /PRNewswire/ -- Federated
Premier Municipal Income Fund (NYSE: FMN) and Federated Premier
Intermediate Municipal Income Fund (NYSE: FPT) today announced
earnings for the six-month period ended May
31, 2015. Established in 2002, the funds seek to
provide investors with income that is exempt from federal income
tax, including alternative minimum tax (AMT), by investing in
municipal securities from different sectors, states and issuers
across the country.
For the six-month period, FMN had net investment income of
$2.7 million or $0.44 per common share. From this amount,
FMN paid distributions on auction market preferred shares (AMPS) of
$9,511. Net realized and
unrealized losses were $1.1 million
or $0.18 per common share. At
May 31, 2015, FMN had an
undistributed income reserve of $0.077 per common share, down from $0.080 per common share at Nov. 30, 2014. Total managed assets of both
common and preferred shareholders of FMN were $147.6 million and the net asset value per common
share was $15.19.
For the six-month period, FPT had net investment income of
$2.4 million or $0.34 per common share. From this amount,
FPT paid distributions on AMPS of $8,310. Net realized and unrealized losses
were $1.7 million or $0.24 per common share. At May 31, 2015, FPT had an undistributed income
reserve of $0.018 per common share,
up from $0.014 per common share at
Nov. 30, 2014. Total managed
assets of both common and preferred shareholders of FPT were
$160.7 million and the net asset
value per common share was $14.27.
Both FMN and FPT have paid monthly tax-free dividends since
their first dividend declaration in February 2003. The funds
held their respective monthly common dividends steady throughout
the six-month period, with FMN's monthly dividend at $0.0735 per share and FPT's monthly dividend at
$0.0555 per share.
Fund composition and performance data for the funds as of
June 30, 2015 is available in the
Products section of FederatedInvestors.com. Data is updated
on the website approximately 15 days following each month-end and
full portfolio listings are updated approximately 30 days following
each calendar quarter-end. To order hard copies or to be
placed on a mailing list, call 1-800-245-0242 x5587538, email
CEinfo@federatedinv.com or write to Federated Investors, 1001
Liberty Avenue, Floor 23, Pittsburgh,
PA 15222.
Federated Investors, Inc. (NYSE: FII) is one of the largest
investment managers in the United
States, managing $349.7
billion in assets as of June
30, 2015. With 130 funds and a variety of separately
managed account options, Federated provides comprehensive
investment management worldwide to approximately 7,900 institutions
and intermediaries including corporations, government entities,
insurance companies, foundations and endowments, banks and
broker/dealers. For more information, visit
FederatedInvestors.com.
|
FEDERATED PREMIER
MUNICIPAL INCOME FUND (FMN)
|
|
SUMMARY OF RESULTS
OF OPERATIONS
|
|
(for a common share
outstanding throughout each period)
|
|
|
Six Months
Ended
(unaudited)
|
Year Ended Nov.
30,
|
|
May 31,
2015
|
2014
|
2013
|
2012
|
2011
|
2010
|
|
Net Asset Value,
Beginning of Period
|
$ 15.37
|
$ 13.95
|
$ 16.08
|
$ 13.86
|
$ 13.49
|
$ 13.25
|
|
Income from
Investment Operations:
|
|
|
|
|
|
|
|
Net investment income1
|
0.44
|
0.89
|
0.91
|
0.94
|
1.02
|
1.05
|
|
Net realized and unrealized gain
(loss) on investments, swap contracts
and futures contracts
|
(0.18)
|
1.43
|
(2.13)
|
2.16
|
0.38
|
0.25
|
|
Distributions to auction market
preferred shareholders from net
investment income2
|
(0.00)3
|
(0.00)3
|
(0.00)3
|
(0.00)3
|
(0.01)
|
(0.01)
|
|
TOTAL FROM INVESTMENT
OPERATIONS
|
0.26
|
2.32
|
(1.22)
|
3.10
|
1.39
|
1.29
|
|
Less Distributions
to Common Shareholders:
|
|
|
|
|
|
|
|
From net investment income
|
(0.44)
|
(0.90)
|
(0.91)
|
(1.00)
|
(1.02)
|
(1.05)
|
|
Increase from AMPS
Tender and Repurchase
|
—
|
—
|
—
|
0.12
|
—
|
—
|
|
Net Asset Value,
End of Period
|
$ 15.19
|
$ 15.37
|
$ 13.95
|
$ 16.08
|
$ 13.86
|
$ 13.49
|
|
Market Price, End
of Period
|
$ 14.83
|
$ 14.47
|
$ 12.47
|
$ 16.95
|
$ 14.89
|
$ 14.36
|
|
Total Return at
Net Asset Value4
|
1.68%
|
17.09%
|
(7.76)%
|
23.90%
|
10.95%
|
9.90%
|
|
Total Return at
Market Price5
|
5.57%
|
23.38%
|
(21.58)%
|
21.37%
|
11.91%
|
6.87%
|
|
|
1 Per share
numbers have been calculated using the average shares
method.
|
|
2 The amounts
shown are based on Common Share equivalents.
|
|
3 Represents less
than $0.01.
|
|
4 Total Return at
Net Asset Value is the combination of changes in the Common Share
net asset value, reinvested dividend income and reinvested capital
gains distributions at net asset value, if any, and does not
reflect the sales charge, if applicable. Total returns for periods
of less than one year are not annualized.
|
|
5 Total Return at
Market Price is the combination of changes in the market price per
share and the effect of reinvested dividend income and reinvested
capital gains distributions, if any, at the average price paid per
share at the time of the reinvestment. Total returns for periods of
less than one year are not annualized.
|
|
FEDERATED PREMIER
INTERMEDIATE MUNICIPAL INCOME FUND (FPT)
|
|
SUMMARY OF RESULTS
OF OPERATIONS
|
|
(for a common share
outstanding throughout each period)
|
|
|
Six Months
Ended
(unaudited)
|
Year Ended Nov.
30,
|
|
May 31,
2015
|
2014
|
2013
|
2012
|
2011
|
2010
|
|
Net Asset Value,
Beginning of Period
|
$ 14.50
|
$ 13.64
|
$ 15.27
|
$ 13.94
|
$ 13.57
|
$ 13.46
|
|
Income from
Investment Operations:
|
|
|
|
|
|
|
|
Net investment income1
|
0.34
|
0.67
|
0.71
|
0.74
|
0.83
|
0.86
|
|
Net realized and unrealized gain
(loss) on investments, swap contracts
and futures contracts
|
(0.24)
|
0.90
|
(1.61)
|
1.22
|
0.36
|
0.13
|
|
Distributions to auction market
preferred shareholders from net
investment income2
|
(0.00)3
|
(0.00)3
|
(0.00)3
|
(0.00)3
|
(0.01)
|
(0.01)
|
|
TOTAL FROM INVESTMENT
OPERATIONS
|
0.10
|
1.57
|
(0.90)
|
1.96
|
1.18
|
0.98
|
|
Less Distributions
to Common Shareholders:
|
|
|
|
|
|
|
|
From net investment income
|
(0.33)
|
(0.71)
|
(0.73)
|
(0.78)
|
(0.81)
|
(0.87)
|
|
Increase from AMPS
Tender and Repurchase
|
—
|
—
|
—
|
0.15
|
—
|
—
|
|
Net Asset Value,
End of Period
|
$ 14.27
|
$ 14.50
|
$ 13.64
|
$ 15.27
|
$ 13.94
|
$ 13.57
|
|
Market Price, End
of Period
|
$ 12.48
|
$ 12.59
|
$ 12.14
|
$ 16.09
|
$ 13.87
|
$ 13.60
|
|
Total Return at
Net Asset Value4
|
0.69%
|
11.76%
|
(6.00)%
|
15.51%
|
9.06%
|
7.40%
|
|
Total Return at
Market Price5
|
1.71%
|
9.59%
|
(20.33)%
|
22.29%
|
8.51%
|
6.38%
|
|
|
1 Per share
numbers have been calculated using the average shares
method.
|
|
2 The amounts
shown are based on Common Share equivalents.
|
|
3 Represents less
than $0.01.
|
|
4 Total Return at
Net Asset Value is the combination of changes in the Common Share
net asset value, reinvested dividend income and reinvested capital
gains distributions at net asset value, if any, and does not
reflect the sales charge, if applicable. Total returns for periods
of less than one year are not annualized.
|
|
5 Total Return at
Market Price is the combination of changes in the market price per
share and the effect of reinvested dividend income and reinvested
capital gains distributions, if any, at the average price paid per
share at the time of the reinvestment. Total returns for periods of
less than one year are not annualized.
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/federated-investors-closed-end-municipal-funds-report-semi-annual-earnings-300121212.html
SOURCE Federated Investors, Inc.