PITTSBURGH, Jan. 31, 2017 /PRNewswire/ -- Federated Premier
Municipal Income Fund (NYSE: FMN) and Federated Premier
Intermediate Municipal Income Fund (NYSE: FPT) today announced
earnings for the fiscal year ended Nov.
30, 2016. 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 fiscal year ended Nov. 30,
2016, FMN had net investment income of $5.07 million or $0.81 per common share. From this amount,
FMN paid dividends on auction market preferred shares (AMPS) of
$0.08 million, resulting in net
investment income after the AMPS dividends of $4.99 million or $0.81 per common share. Net realized and
unrealized losses were $4.09 million
or $0.66 per common share. At
Nov. 30, 2016, FMN had an
undistributed net investment income reserve of $0.002 per common share, down from $0.066 per common share at Nov. 30, 2015. Total portfolio assets of
FMN were $143.7 million and the net
asset value per common share was $14.55.
For the fiscal year ended Nov. 30,
2016, FPT had net investment income of $4.38 million or $0.62 per common share. From this amount,
FPT paid dividends on auction market preferred shares (AMPS) of
$0.67 million, resulting in net
investment income after the AMPS dividends of $4.31 million or $0.62 per common share. Net realized and
unrealized losses were $4.55 million
or $0.66 per common share. At
Nov. 30, 2016, FPT had an
undistributed net investment income reserve of $0.016 per common share, down from $0.064 per common share at Nov. 30, 2015. Total portfolio assets of
FPT were $157.0 million and the net
asset value per common share was $13.73.
Both FMN and FPT have paid monthly tax-free dividends since the
first dividend declaration in February 2003. During the
fiscal year, the funds reduced their respective monthly common
dividends in June 2016, with FMN's
dividend declining to $0.0700 per
share from $0.0735 and FPT's dividend
declining to $0.0540 per share from
$0.0555.
Fund composition and performance data for the funds as of
Dec. 31, 2016 are 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 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 $365.9
billion in assets as of Dec.
31, 2016. With 124 funds, as well as a variety of
separately managed account options, Federated provides
comprehensive investment management worldwide to more than 8,500
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)
|
|
|
Year Ended Nov.
30,
|
|
2016
|
2015
|
2014
|
2013
|
2012
|
|
|
Net Asset Value,
Beginning of Period
|
$15.26
|
$15.37
|
$13.95
|
$16.08
|
$13.86
|
|
|
Income From
Investment Operations:
|
|
|
|
|
|
|
|
Net investment income
1
|
0.81
|
0.87
|
0.89
|
0.91
|
0.94
|
|
|
Net realized and
unrealized gain (loss) on investments and futures
contracts
|
(0.66)
|
(0.10)
|
1.43
|
(2.13)
|
2.16
|
|
|
Distributions to
auction market preferred shareholders from net investment
income 2
|
(0.00)3
|
(0.00)3
|
(0.00)3
|
(0.00)3
|
(0.00)3
|
|
|
TOTAL FROM
INVESTMENT OPERATIONS
|
0.15
|
0.77
|
2.32
|
(1.22)
|
3.10
|
|
|
Less Distributions
to
Common
Shareholders:
|
|
|
|
|
|
|
|
From net investment
income
|
(0.86)
|
(0.88)
|
(0.90)
|
(0.91)
|
(1.00)
|
|
|
Increase From
Auction Market Preferred Share Tender and Repurchase
|
--
|
--
|
--
|
--
|
0.12
|
|
|
Net Asset Value,
End of Period
|
$14.55
|
$15.26
|
$15.37
|
$13.95
|
$16.08
|
|
|
Market Price, End
of Period
|
$14.07
|
$14.85
|
$14.47
|
$12.47
|
$16.95
|
|
|
Total Return at
Net Asset Value 4
|
0.73%
|
5.17%
|
17.09%
|
(7.76)%
|
23.90%
|
|
|
Total Return at
Market Price 5
|
0.17%
|
8.98%
|
23.38%
|
(21.58)%
|
21.37%
|
|
|
|
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.
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.
|
|
FEDERATED PREMIER
INTERMEDIATE MUNICIPAL INCOME FUND (FPT)
SUMMARY OF RESULTS
OF OPERATIONS
(For a Common
Share Outstanding Throughout Each Period)
|
|
|
Year Ended Nov.
30,
|
|
2016
|
2015
|
2014
|
2013
|
2012
|
|
|
Net Asset Value,
Beginning of Period
|
$14.43
|
$14.50
|
$13.64
|
$15.27
|
$13.94
|
|
|
Income From
Investment Operations:
|
|
|
|
|
|
|
|
Net investment income
1
|
0.62
|
0.72
|
0.67
|
0.71
|
0.74
|
|
|
Net realized and
unrealized gain (loss) on investments and futures
contracts
|
(0.66)
|
(0.12)
|
0.90
|
(1.61)
|
1.22
|
|
|
Distributions to
auction market preferred shareholders from net investment
income 2
|
(0.00)
3
|
(0.00)
3
|
(0.00)
3
|
(0.00)
3
|
(0.00)3
|
|
|
TOTAL FROM
INVESTMENT OPERATIONS
|
(0.04)
|
0.60
|
1.57
|
(0.90)
|
1.96
|
|
|
Less Distributions
to
Common
Shareholders:
|
|
|
|
|
|
|
|
From net investment
income
|
(0.66)
|
(0.67)
|
(0.71)
|
(0.73)
|
(0.78)
|
|
|
Increase From
Auction Market Preferred Share Tender and Repurchase
|
--
|
--
|
--
|
--
|
0.15
|
|
|
Net Asset Value,
End of Period
|
$13.73
|
$14.43
|
$14.50
|
$13.64
|
$15.27
|
|
|
Market Price, End
of Period
|
$12.72
|
$13.29
|
$12.59
|
$12.14
|
$16.09
|
|
|
Total Return at
Net Asset Value 4
|
(0.52)%
|
4.22%
|
11.76%
|
(6.00)%
|
15.51%
|
|
|
Total Return at
Market Price 5
|
0.41%
|
11.08%
|
9.59%
|
(20.33)%
|
22.29%
|
|
|
|
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.
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.
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/federated-investors-closed-end-municipal-funds-report-annual-earnings-300399444.html
SOURCE Federated Investors, Inc.