0000950137-07-012515.txt : 20130114
0000950137-07-012515.hdr.sgml : 20130114
20070817122741
ACCESSION NUMBER: 0000950137-07-012515
CONFORMED SUBMISSION TYPE: CORRESP
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20070817
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: FIRST AMERICAN INVESTMENT FUNDS INC
CENTRAL INDEX KEY: 0000820892
IRS NUMBER: 411418224
STATE OF INCORPORATION: MD
FISCAL YEAR END: 1031
FILING VALUES:
FORM TYPE: CORRESP
BUSINESS ADDRESS:
STREET 1: 333 WEST WACKER DR.
CITY: CHICAGO
STATE: IL
ZIP: 60606
BUSINESS PHONE: 312-917-8146
MAIL ADDRESS:
STREET 1: 333 WEST WACKER DR.
CITY: CHICAGO
STATE: IL
ZIP: 60606
FORMER COMPANY:
FORMER CONFORMED NAME: FIRST AMERICAN INVESTMENT FUNDS INC
DATE OF NAME CHANGE: 19920703
FORMER COMPANY:
FORMER CONFORMED NAME: SECURAL MUTUAL FUNDS INC
DATE OF NAME CHANGE: 19910627
CORRESP
1
filename1.txt
(FAF ADVISORS(TM) LOGO)
800 Nicollet Mall RICHARD J. ERTEL
BC-MN-HO5F COUNSEL
Minneapolis, MN 55402 Direct line: (612) 303-7987
Fax: (612) 303-4223
August 16, 2007
Ms. Kimberly Browning VIA EDGAR
Office of Disclosure and Review
Division of Investment Management
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Re: First American Investment Funds, Inc.
SEC File Nos. 033-16905 and 811-05309
Response to Staff Comments on Preliminary Proxy Statement (Form PRE 14A)
Filed with the Commission on August 2, 2007
Dear Ms. Browning:
The purpose of this letter is to respond to the comments that you transmitted by
telephone on August 16, 2007 regarding the preliminary proxy statement for the
above-listed registrant (the "Registrant"), related to International Fund (the
"Fund"), a series of the Registrant. Following is our response to your comments,
which appear in bold-face type below.
1. IN YOUR RESPONSE LETTER DATED AUGUST 14, 2007, YOU STATED THAT THE ADVISOR
DOES "NOT CONTEMPLATE USING A PERFORMANCE FEE STRUCTURE TO COMPENSATE
SUB-ADVISORS TO THE FUND." PLEASE DISCLOSE IN THE PROXY STATEMENT THE
POSSIBILITY, HOWEVER REMOTE, THAT A PERFORMANCE FEE STRUCTURE MAY BE
IMPLEMENTED IN THE FUTURE AND THAT, IF SHAREHOLDERS APPROVE THE
MANAGER-OF-MANAGERS STRUCTURE, SHAREHOLDERS WOULD NOT HAVE THE OPPORTUNITY
TO APPROVE SUCH STRUCTURE.
We have added the following sentence to the second paragraph under
"Description of the Manager-of-Managers Structure" on page 3 of the proxy
statement, immediately following the first sentence in that paragraph:
For example, should the Advisor choose to compensate unaffiliated
sub-advisors based on a rate that adjusts upward or downward based
upon the Fund's performance relative to its benchmark index (a
"performance-based fee"), rather than the current fixed rate fee
structure, shareholders would not be asked to approve such a change.
In connection with the review of the above-referenced filing by the staff of the
Securities and Exchange Commission (the "Commission"), the Registrant hereby
acknowledges that:
1. The Registrant is responsible for the adequacy and accuracy of the
disclosure in the filing.
(FAF ADVISORS(TM) LOGO)
2. Staff comments or changes to disclosure in response to staff comments
in the filing reviewed by the staff do not foreclose the Commission
from taking any action with respect to the filing.
3. The Registrant may not assert staff comments as a defense in any
proceeding initiated by the Commission or any person under the federal
securities laws of the United States.
If you need anything further, please contact me at your earliest convenience at
612-303-7987. Thank you for your help.
Sincerely,
/s/ Richard J. Ertel
Richard J. Ertel
Assistant Secretary to the Registrant