The investment objective of the Fund is to achieve total return through investment in real estate securities. Real estate securities include common stocks, preferred stocks and other equity securities of any market capitalization issued by real estate companies, including real estate investment trusts (REITs) and similar REIT-like entities.
Please consider the investment objectives, risks, charges and expenses of any U.S. Registered open-end fund carefully before investing. A summary prospectus and prospectus containing this and other information may be obtained by calling 1-800-330-7348 or clicking here. Please read the prospectus carefully before investing.
NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
Distributed by Cohen & Steers Securities, LLC.
Expense Ratio as disclosed in the May 1, 2016 prospectus:
Gross Expense Ratio: 0.76%
Net Expense Ratio: 0.75%.
Cohen & Steers Capital Management, Inc., the Fund's investment manager (the "Manager"), has contractually agreed to waive its fee and/or reimburse the Fund total annual so that total annual Fund operating expenses (excluding brokerage fees and commissions, taxes, and, upon approval of the Board, extraordinary expenses) never exceed 0.75% of average daily net assets. Absent such arrangements, returns would have been lower. This commitment is currently expected to remain in place for the life of the Funds, can only be amended or terminated by agreement of the Fund and the Manager and will terminate automatically in the event of termination of the investment management agreement between the Fund and the Manager
Portfolio holdings are subject to change without notice. The mention of specific securities is not a recommendation or solicitation to buy, sell or hold any particular security. NAV is as of prior night's market close. You can obtain a complete listing of holdings by clicking here.
Total Net Assets as of March 31, 2016.
NAV per share is as of the prior day’s market close of regular trading on the NYSE, generally 4:00 p.m. Eastern time, on each day the NYSE is open for trading.
Risks of Investing in Real Estate Securities
Risks of investing in real estate securities are similar to those associated with direct investments in real estate, including falling property values due to increasing vacancies or declining rents resulting from economic, legal, political or technological developments, lack of liquidity, limited diversification and sensitivity to certain economic factors such as interest rate changes and market recessions. Foreign securities involve special risks, including currency fluctuations, lower liquidity, political and economic uncertainties, and differences in accounting standards. Some international securities may represent small- and medium-sized companies, which may be more susceptible to price volatility and less liquidity than larger companies. The Fund is classified as a "non-diversified" fund under the federal securities laws because it can invest in fewer individual companies than a diversified fund. However, the Fund must meet certain diversification requirements under the U.S. tax laws. No representation or warranty is made as to the efficacy of any particular strategy or fund or the actual returns that may be achieved.
For U.S. residents only.
For funds with at least a 3-year history, a Morningstar Rating (tm) is based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees) with emphasis on downward variations and consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variaitons in the distribution percentages.
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