My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
CCP 10-31-1994
ArdenHills
>
Administration
>
City Council
>
City Council Packets
>
1990-1999
>
1994
>
CCP 10-31-1994
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/8/2007 1:10:03 PM
Creation date
11/6/2006 3:35:51 PM
Metadata
Fields
Template:
General (2)
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
168
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
<br /> Fund Statistics Continued from front page <br /> Ne<: Assets $565 million have a par value that is guaranteed at maturity by an agency of rhe U.S. <br /> government. However, rhese securities remain severely discounted wirh <br /> Nee Asset Value $7.98 their averag~ price.at $72 per $100 of par. Additionally, rhe fund has the. <br /> Inception Date July 1988 highest credit quality raong granted by Standard and Poor's: AAAf. <br /> Fiscal YearEnd September 30 (S&P's credit rating does not indicate rhe market risk of rhe fund.) <br /> Ticker Symbol PJIGX The rime frame to recovery of rhe fund is difficult to predicr. We <br /> Initial Investment Fund closed to believe rhat rhe current supply and demand imbalance in rhe mortgage- <br /> new investors backed derivatives marker will not begin to improve until rhe Treasury <br /> Subsequentlnvestnnencs $2,500 market stabilizes. We anticipate that rhe fourth quarter will be chalIenging <br /> I :Z.Month Distribution $1.180 because of sales of fund shares to incur year-end taX losses, year-end <br /> pressures to teduce inventories of mortgage-backed derivatives, and <br /> Fund Adviser rhe probability of continued unsenled marker conditions in rhe <br /> Treasury marker. <br /> Piper Capital Management <br /> . Headquartered in Minneapolis, with offices in Institutional Govemment Income Portfolio Characteristics <br /> Seattle and Denver . Desigued for investors who seek a high level of current income <br /> . Manages approximately $12 billion in assets and <br /> provides invesanent services for more than 40 consisrent wirh preservation of capital. <br /> mutual funds . Invesrs in securities issued or guaranteed as to payment of principal <br /> . Wholly-owned subsidiary of Piper Jaffray and/or interest by rhe U.S. government, irs agencies or instrUmentalities, <br /> Companies Inc., which was established in 1895 including mortgage-related securities. (The securities in rhe fund, not <br /> . Piper Jaffray Companies has donated 5% of <br /> pretax profits to civic and charitable causes each rhe fund itself, are guaranteed as to payment of principal and interest.) <br /> year since 1969 . The fund's investmenrs in mortgage-relared securities include derivative <br /> producrs such as interest-only and ptincipal-only securitieS, inverse . <br /> Portfolio Managers floating rate securities and Z.bonds. The market value of rhese types 0 <br /> , derivatives may be more volatile rhan orher securities owned by the <br /> Worth 8rontjen fund and may result in increased volatility of rhe fund's NAVin certain <br /> . Piper Capita! senior vice president and fixed market conditions. <br /> income portfolio manager . The fund employs invesnnent rechniques - including rhe purchase of <br /> . 27 years investment experience derivatives and the purchase of securities through rhe sale-forward <br /> Mania Go'dstein program - which may cause rhe fund's NA V to fluctuate to a greater <br /> . Piper Capital senior vice president and fixed extent rhan would be expected from interest rate movemenrs alone. <br /> income portfolio manager (Please see "Investment Objective and Policies" in the fund's prospectus <br /> . Nine years investment experience <br /> Marcy Winson for a more complete discussion.) <br /> . Piper Capital vice president and fixed income <br /> associate portfolio manager Contact Your Investment Executive <br /> . Four years investment experience For more information about any of the Piper funds, including a <br /> Steve Kuhn prospectus, contact your investment executive or can 1 800 866-7778. <br /> . Piper Capital fixed income associate The l1!$titutionai Govermnmt Income Portfolio is dosed to new !m'estors. Figures shown <br /> portfolio manager reflect pa.st per{ormanu ami do not guarantu future results.. The retum and prindpaJ va/J"e <br /> . Two years investment experience of an investment in the fund will {htauate and shares, whm redeemed. may be wortb more <br /> or less than their orlgin4i cost. <br /> ~ <br /> I, PIPER CAPITAL i <br /> ""'(I\1fSr I <br /> e - ----- <br /> Piper Capital Mtl1l4gmmtt Incorporated . <br /> 222 South Ninth Stmt, Mpls. MN 55402-3804 I 800 866om8 <br /> Pip" Jaffto1 b.,,, fiuuJ Jim-i/nmno aNi NASD """'.... <br /> OO'73-94d PJIGX04 <br />
The URL can be used to link to this page
Your browser does not support the video tag.