Form DEFA14A First American Funds
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE
SECURITIES EXCHANGE ACT OF 1934
Filed by the Registrant x Filed by a Party other than the Registrant ¨
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| ¨ | Preliminary Proxy Statement. |
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| ¨ | Definitive Proxy Statement. |
| x | Definitive Additional Materials. |
| ¨ | Soliciting Material under §240.14a-12. |
First American Funds Trust
(Name of Registrant as Specified in its Charter)
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Dear Shareholder:
Enclosed you will find proxy materials relating to a Special Meeting of Shareholders of First American Funds, Inc. which will be held on August 21, 2023 at 10:00 am Central time at the offices of U.S. Bancorp Asset Management, 800 Nicollet Mall, Minneapolis MN 55402.
The reason for the special shareholder meeting is to ask shareholders to approve a reorganization of First American Funds, Inc. (“FAF”), currently organized as a Minnesota corporation, into First American Funds Trust (“FAF Trust”), a Massachusetts business trust.
To do so, each FAF fund will be reorganized into a newly created series of FAF Trust, as follows:
Benefits of a MASSACHUSETTS BUSINESS TRUST:
| ● | Greater operational efficiencies |
| ● | React more quickly to competitive and regulatory conditions |
| ● | More flexible governance structure |
| ● | Authorization to issue an unlimited number of outstanding shares |
| Acquired Fund (FAF) | Corresponding Acquiring Fund (FAF Trust) | |
| Government Obligations Fund | ![]() |
Government Obligations Fund |
| Institutional Prime Obligations Fund | ![]() |
Institutional Prime Obligations Fund |
| Retail Prime Obligations Fund | ![]() |
Retail Prime Obligations Fund |
| Retail Tax-Free Obligations Fund | ![]() |
Retail Tax-Free Obligations Fund |
| Treasury Obligations Fund | ![]() |
Treasury Obligations Fund |
| U.S. Treasury Money Market Fund | ![]() |
U.S. Treasury Money Market Fund |
The acquiring funds are newly created series of FAF Trust, and each is substantially identical to its corresponding acquired fund insofar as each has the:
| ✓ | Same investment objectives |
| ✓ | Same investment policies |
| ✓ | Same advisory fees and total expenses |
| ✓ | Same fund tickers and CUSIP numbers |
Each reorganization is intended to be a tax-free reorganization for Federal income tax purposes.
After careful consideration, the FAF Board determined that the reorganization proposal for each fund is in the best interests of each fund and recommends a vote FOR each reorganization.
Please see the enclosed proxy form for convenient options to vote your shares and more information on what it means for your investment.
Thank you for your consideration and your vote!
Sincerely,
![]() |
![]() | |
| Mark E. Gaumond | Eric J. Thole | |
| Chair, First American Funds Board | President, First American Funds |
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