PITTSBURGH, July 30, 2015 /PRNewswire/ -- Federated Enhanced
Treasury Income Fund (NYSE: FTT) today announced earnings for the
six-month period ended May 31,
2015. The fund employs a managed distribution plan to support
a level distribution to shareholders that may be composed of
income, capital gains and/or return of capital. Under the
plan, the fund makes monthly cash distributions approximating 2.5%
of the fund's net asset value (NAV) on an annualized basis based on
the fund's NAV from the previous month-end. The fund may make
distributions in excess of those required under the plan in order
to meet its obligations under the Internal Revenue Code.
For the six-month period, FTT reported net investment income of
$0.3 million or $0.04 per share. FTT made distributions of
$1.8 million, or $0.21 per share based on the fund's managed
distribution plan, a portion of which may represent a tax return of
capital.1 Net realized and unrealized losses
were $1.0 million or $0.12 per share.
On May 31, 2015, total net assets
of the fund were $120.0 million and
the net asset value per share was $13.99.
Subsequent to the reporting period, the fund's investment
adviser, Federated Investment Management Company, recommended to
the fund's Board of Trustees that FTT convert from a closed-end
fund to an open-end mutual fund. The conversion, if approved by
both the fund's Board of Trustees and shareholders, would be
expected to be completed during the fourth quarter of
2015.
Fund composition and performance data for the fund 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 approximately $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.
Certain statements made in this press release, such as those
related to the recommended conversion to an open-end fund, and the
opportunity for enhanced liquidity and shareholder value, are
forward-looking statements. Actual future results or
occurrences may differ significantly from those anticipated in any
forward-looking statements due to numerous factors. These
include, but are not limited to: market developments; legal and
regulatory developments; and other additional risks and
uncertainties. As a result, none of the investment adviser,
the fund or any other person assumes responsibility for the
accuracy and completeness of such statements in the future.
1 A portion of these distributions may be deemed a tax return
of capital. Actual amounts and sources of distributions
cannot be determined until fiscal year end.
|
SUMMARY OF RESULTS
OF OPERATIONS
(for a share
outstanding throughout each period)
|
|
|
Six
Months
Ended
(unaudited)
|
|
Year Ended Nov. 30,
|
Period ended
Nov. 30, 20101
|
|
May 31,
2015
|
2014
|
2013
|
2012
|
2011
|
|
Net Asset Value,
Beginning of Period
|
$ 14.28
|
$ 14.93
|
$ 15.96
|
$ 16.54
|
$ 18.03
|
$ 19.10
|
|
Income from
Investment Operations:
|
|
|
|
|
|
|
|
Net investment income2
|
0.04
|
0.16
|
0.12
|
0.15
|
0.21
|
0.15
|
|
Net realized and unrealized gain (loss on
investments, futures contracts and written
options
|
(0.12)
|
(0.29)
|
(0.59)
|
0.10
|
(0.68)
|
(0.10)
|
|
TOTAL FROM INVESTMENT
OPERATIONS
|
(0.08)
|
(0.13)
|
(0.47)
|
0.25
|
(0.47)
|
0.05
|
|
Offering
costs
|
—
|
—
|
—
|
—
|
—
|
(0.04)
|
|
Less
Distributions:
|
|
|
|
|
|
|
|
From net investment
income
|
(0.04)3
|
(0.16)
|
(0.12)
|
(0.17)
|
(0.21)
|
(0.15)
|
|
From net realized gain
on investments
|
(0.17)3
|
—
|
—
|
—
|
—
|
—
|
|
Return of
capital2
|
—
|
(0.37)4
|
(0.55)4
|
(0.71)4
|
(0.81)4
|
(0.93)4
|
|
TOTAL DISTRIBUTIONS
TO SHAREHOLDERS
|
(0.21)
|
(0.53)
|
(0.67)
|
(0.88)
|
(1.02)
|
(1.08)
|
|
Repurchase of
Common Shares
|
0.005
|
0.01
|
0.11
|
0.05
|
—
|
—
|
|
Net Asset Value,
End of Period
|
$
13.99
|
$ 14.28
|
$ 14.93
|
$ 15.96
|
$ 16.54
|
$ 18.03
|
|
Market Price, End
of Period
|
$
13.46
|
$ 13.25
|
$ 12.80
|
$ 14.37
|
$ 14.03
|
$ 16.67
|
|
Total Return at
Net Asset Value6
|
(0.57)%
|
(0.87)%
|
(2.29)%
|
1.91%
|
(2.66)%
|
0.10%
|
|
Total Return at
Market Price7
|
3.20%
|
7.64%
|
(6.45)%
|
8.82%
|
(10.12)%
|
(11.72)%
|
|
|
1 Reflects
operations for the period from Jan. 29, 2010 (date of initial
investment) to Nov. 30, 2010.
|
|
2 Per share
numbers have been calculated using the average shares
method.
|
|
3 These
distributions may be deemed a tax return of capital. Actual
amounts and sources of distributions cannot be determined until
fiscal year end.
|
|
4 Represents a
return of capital for federal income tax purposes.
|
|
5 Represents less
than $0.01.
|
|
6 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.
|
|
7 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.
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To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/federated-enhanced-treasury-income-fund-reports-semi-annual-earnings-300121210.html
SOURCE Federated Investors, Inc.
