Federated Premier Municipal Income Fund Reports Earnings Results for the Year Ended November 30, 2011
January 30, 2012 at 09:02 pm
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Federated Premier Municipal Income Fund reported earnings results for the year ended November 30, 2011. For the year, the company reported net investment income of $6.3 million or $1.02 per common share. From this amount, FMN paid dividends on preferred shares of $0.06 million, resulting in net investment income after the preferred dividends of $6.2 million or $1.01 per common share. Net realized and unrealized gains were $2.4 million or $0.38 per common share. At November 30, 2011, FMN had an undistributed net income reserve of $0.088 per common share, down from $0.098 per common share at November 30, 2010. Total managed assets of FMN were $122.1 million and the net asset value per common share was $13.86.
Federated Hermes Premier Municipal Income Fund (the Fund) is a diversified closed-end management investment company. The investment objective of the Fund is to provide current income exempt from federal income tax, including the federal alternative minimum tax (AMT). The Fund normally invests substantially all (at least 90%) of its total assets in tax-exempt securities, and normally invests at least 80% of its total assets in investment grade tax-exempt securities. The Fund may invest up to 20% of its total assets in tax-exempt securities of below investment grade quality (but not lower than B, including modifiers, sub-categories or gradations). The Fund invests in various sectors, including hospital, tobacco, toll road, senior care, airport, water and sewer, and other utility. The Fundâs investment advisor is Federated Investment Management Company.
FEDERATED HERMES PREMIER MUNICIPAL INCOME FUND 
