The Fund's primary objective is high current income. Its secondary objective is capital appreciation. Under normal conditions, the Fund will invest at least 80% of its managed assets in a portfolio of securities issued by real estate companies, such as real estate investment trusts or “REITs”, and companies engaged in the utilities industry. The Fund may invest up to 20% of its managed assets in preferred securities and other fixed income securities that are not issued by real estate or utility companies
Portfolio Highlight & General Information
12/31/09
Symbol
RTU
# of Holdings
191
Total Net Assets
$1.2 Billion
NAV per share
$12.87
Distribution Yield*
6.36%
Fund Expense Ratio**
1.04%
Quarterly Distribution Per Share with ****
$0.17
Common Share Expense Ratio***
1.68%
*Based on December 31, 2009 market price and current annualized distribution rate. **Ratio of expenses to average daily managed assets (net of expense
reduction) ***Ratio of expenses to average daily net assets applicable to common shares (net of expense reduction)
Ratios do not reflect dividend payments to preferred shareholders.
****Declared December 15, 2009 and payable December 31, 2009.
As portfolio and market conditions change, future distributions
may also change.
†Distributions are subject to recharacterization for tax purposes after the end of the fiscal year. The Fund is currently paying distributions in excess of its net investment income, which may result in a return of capital
Average Annual Returns
As of: 12/31/2009
RTU Mkt Price
RTU NAV
FTSE NAREIT Equity Index
S&P 500
Blended Index*
Q4:09
13.42%
13.57%
9.40%
6.04%
7.64%
1 Year
83.21%
54.16%
28.01%
26.45%
22.14%
3 Year
-12.92%
-10.82%
-12.41%
-5.63%
-5.18%
5 Year
-0.85%
0.25%
0.36%
0.42%
3.33%
Since Inception (1/30/04)
-0.80%
3.27%
4.31%
1.81%
5.97%
*Blended Index consists of 40% FTSE NAREIT Equity REIT, 40% S&P 1500 Index and 20% Merrill Lynch Fixed Rate Preferred Index.
The performance data quoted represent past performance. Past performance is no guarantee of future results. The investment return will vary and the principal value of an investment will fluctuate and shares, if redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
Portfolio Managers
Martin Cohen
Robert H. Steers
Joseph M. Harvey
Robert S. Becker
William F. Scapell
Thomas N. Bohjalian
Top 10 Holdings
as of 12/31/09
Name
Sector
% of Net Assets
Simon Property Group Inc.
Regional Mall
3.9
Southern Co.
ElectricUtilities
2.3
ProLogis
Industrial
2.2
Entergy Corp.
Electric Utilities
1.9
Duke Energy Corp.
ElectricUtilities
1.9
FPL Group
ElectricUtilities
1.8
PG&E Corp.
Electric Utilities
1.8
Public Service Enterprise Group
Electric Utilities
1.8
Equity Residential
Apartment
1.7
Host Hotels & Resorts
Hotel
1.7
Distributions are subject to recharacterization for tax purposes after the end of the fiscal year. The Fund is currently paying distributions in excess of its net investment income, which may result in a return of capital. Absent this, the yield would have been lower.
The Fund's portfolio holdings are subject to change without notice.
The mention of specific securities is not a recommendation or solicitation
for any person to buy, sell or hold any particular security.
The fund may pay distributions in excess of the fund's net investment company taxable income and this excess would be a tax-free return of capital distributed from the fund's assets. Distributions of capital decrease the fund's total assets and, therefore, could have the effect of increasing the fund's expense ratio. In addition, in order to make these distributions, the fund may have to sell portfolio securities at a less than opportune time.
Real Estate Investment Trusts - Cohen & Steers REIT and Utility Income Fund
The Cohen & Steers REIT and Utility Income Fund primary objective is high current income. Its secondary objective is capital appreciation. Under normal conditions, the Fund will invest at least 80% of its managed assets in a portfolio of securities issued by real estate companies, such as real estate investment trusts or "REITs", and companies engaged in the utilities industry. The Fund may invest up to 20% of its managed assets in preferred securities and other fixed income securities that are not issued by real estate or utility companies Click here to contact us for more information about Real Estate Investment Trusts and Cohen & Steers REIT and Utility Income Fund.
