Federated Investors' Closed-End Municipal Funds Report Annual Earnings

PITTSBURGH, Jan. 31, 2017

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.