International Realty Fund

The investment objective of the Fund is to achieve total return through investment in non-U.S. real estate equity securities.

Strong historical returns

Since the start of the modern REIT era in 1991, listed real estate has delivered strong absolute and relative returns compared to stocks and bonds

Attractive income with growth potential

REITs tend to pay attractive dividends, offering an alternative source of income

Access to a diverse and growing global market

The global listed REIT market has evolved substantially over the past decades, providing access to new property types and new markets

International Realty Fund

Total Net Assets

$494.58 M

YTD Returns

-1.11%

SEC Yield

1.86%

Distribution Yield

2.32%

No. of Holdings

60

Gross Expense Ratio

1.44%

Net Expense Ratio

1.35%

Inception Date

3/31/05

(At 3/31/24)

Top Holdings

March 31, 2024

DOWNLOAD HOLDING DATA

Name	Sectors	% of Market Value
Mitsui Fudosan Co. Ltd.	Diversified	7.4%
Goodman Group	Diversified	6.4%
Sumitomo Realty & Development	Diversified	4.9%
Sun Hung Kai Properties	Diversified	4.2%
Segro PLC	Industrial	3.4%
Leg Immobilien AG	Residential	2.9%
Vonovia SE	Residential	2.5%
Boardwalk Real Estate Investment Trust	Residential	2.3%
Fastighets AB Balder-B Shrs	Diversified	2.3%
Stockland	Diversified	2.3%

The mention of specific investments is not a recommendation or solicitation to buy, sell or hold any particular security, swap or futures investment. Holdings are subject to change without notice.

PORTFOLIO MANAGERS

Jon Cheigh

Chief Investment Officer

29 years of experience

William Leung

Head of Asia Pacific Real Estate

30 years of experience

Rogier Quirijns

Head of Europe Real Estate

25 years of experience

Ji Zhang, CFA

Portfolio Manager, Global Real Estate

17 years of experience

Morningstar rating

March 31, 2024

Name	Category	Funds in category
Overall	Global Real Estate	179
Three year	Global Real Estate	179
Five year	Global Real Estate	179
Ten year	Global Real Estate	119

Based on risk-adjusted returns.

LITERATURE

Fact Sheet Commentary Complete Holdings Q1 Holdings Q3 Holdings

Reducing Sales Charges Annual Report Semiannual Report Summary Prospectus Prospectus

Section 19 Notice Statement of Additional Information XBRL Sign Up for E-Delivery

Total Returns (A Share Class)

Calculated quarterly

As of March 31, 2024

Period	Excluding Sales Charge	Including Sales Charge	Benchmark	S&P 500 Index
YTD	-1.11%	-5.56%	-2.03%	10.56%
QTD	-1.11%	-5.56%	-2.03%	10.56%
1 Year	4.95%	0.23%	5.88%	29.88%
3 Year	-5.83%	-7.26%	-5.80%	11.49%
5 Year	-2.07%	-2.96%	-3.35%	15.04%
10 Year	2.04%	1.58%	0.89%	12.96%
Since Inception (3/31/05)	3.22%	2.97%	3.33%	10.34%

Share classes have different investment minimums, expense structures and sales charges, which are detailed in the Fund prospectus.

Performance data quoted represents past performance. Past performance is no guarantee of future results. Current performance may be lower or higher than the performance quoted. The investment return and the principal value of an investment will fluctuate and shares, when redeemed, may be worth more or less than their original cost. Periods greater than 12 months are annualized. Returns are historical and include change in share price and reinvestment of all distributions.

An investor cannot invest directly in an index and index performance does not reflect the deduction of any fees, expenses or taxes. Index comparisons have limitations as volatility and other characteristics may differ from a particular investment. For index definitions, please visit www.cohenandsteers.com/indexdefinitions.

Gross Expense Ratio: 1.45% Net Expense Ratio: 1.35% The Net Expense Ratio reflects a contractual commitment by the Fund’s investment advisor to waive its fees and/or reimburse expenses through June 30, 2023. Absent such arrangements, returns would have been lower. Please see the prospectus for details.

View: Sector Diversification Geographic Diversification

Sector Diversification

As of March 31, 2024

Sector	% of Fund	% of Benchmark	% Underweight/Overweight
Diversified	43.48%	49.04%	-5.56%
Industrial	17.65%	10.66%	+6.99%
Residential	12.73%	10.26%	+2.47%
Retail	7.53%	11.2%	-3.67%
Self Storage	3.97%	1.38%	+2.59%
Office	3.34%	7.87%	-4.53%
Hotel	3.04%	1.43%	+1.61%
Health Care	2.91%	1.94%	+0.97%
Industrial Office	2.04%	5.63%	-3.59%
Data Centers	1.22%	0.33%	+0.89%
Infrastructure	1.22%	-	+1.22%
Cash	0.88%	-	+0.88%

Infrastructure

% of Fund

1.22%

% of Benchmark

% Underweight/Overweight

+1.22%

Cash

% of Fund

0.88%

% of Benchmark

% Underweight/Overweight

+0.88%

Geographic Diversification

As of March 31, 2024

Sector	% of Fund	% of Benchmark	% Underweight/Overweight
Japan	27.72%	26.62%	1.1%
Australia	15.94%	15.95%	-0.01%
United Kingdom	12.89%	10.9%	1.99%
Singapore	7.21%	8.05%	-0.84%
Canada	6.6%	6.34%	0.26%
Hong Kong	6.45%	8.02%	-1.57%
Germany	6.3%	5.27%	1.03%
France	4.46%	4.02%	0.44%
Sweden	4.28%	5.28%	-1%
Belgium	4.26%	2.62%	1.64%
Spain	1.67%	0.94%	0.73%
Cash	0.88%	-	0.88%
New Zealand	0.83%	0.77%	0.06%
Netherlands	0.5%	0.38%	0.12%

Cash

% of Fund

0.88%

% of Benchmark

% Underweight/Overweight

0.88%

New Zealand

% of Fund

0.83%

% of Benchmark

0.77%

% Underweight/Overweight

0.06%

Netherlands

% of Fund

0.5%

% of Benchmark

0.38%

% Underweight/Overweight

0.12%

Portfolio weights are subject to change without notice. Due to rounding, values might not add up to 100%. The mention of specific securities is not a recommendation or solicitation to buy, sell or hold any particular security.

Distribution Information

This fund intends to make semi-annual distributions.

Pay Date	Record Date	Ex-Dividend Date	Type	Class	Amount/Share
12/7/23	12/6/23	12/7/23	Regular	A	$0.089
			Regular	C	$0.057
			Regular	I	$0.104
			Regular	R	$0.086
			Regular	Z	$0.104
6/30/23	6/29/23	6/30/23	Regular	A	$0.118
			Regular	C	$0.058
			Regular	I	$0.134
			Regular	R	$0.112
			Regular	Z	$0.134
12/8/22	12/7/22	12/8/22	Regular	A	$0.077
			Regular	C	$0.045
			Regular	I	$0.094
			Regular	R	$0.069
			Regular	Z	$0.094
6/30/22	6/29/22	6/30/22	Regular	A	$0.12
			Regular	C	$0.084
			Regular	I	$0.14
			Regular	R	$0.107
			Regular	Z	$0.14
12/9/21	12/8/21	12/9/21	Regular	A	$0.539
			Regular	C	$0.495
			Regular	I	$0.561
			Regular	R	$0.529
			Regular	Z	$0.561
6/30/21	6/29/21	6/30/21	Regular	A	$0.342
			Regular	C	$0.299
			Regular	I	$0.364
			Regular	R	$0.33
			Regular	Z	$0.364
12/10/20	12/9/20	12/10/20	Regular	A	$0.285
			Regular	C	$0.238
			Regular	I	$0.305
			Regular	R	$0.277
			Regular	Z	$0.305
6/30/20	6/29/20	6/30/20	Regular	A	$0.082
			Regular	C	$0.043
			Regular	I	$0.103
			Regular	R	$0.075
			Regular	Z	$0.103
12/4/19	12/3/19	12/4/19	Regular	A	$1.037
			Regular	C	$0.987
			Regular	I	$1.06
			Regular	R	$1.028
			Regular	Z	$1.06
6/28/19	6/27/19	6/28/19	Regular	A	$0.151
			Regular	C	$0.04
			Regular	I	$0.171
			Regular	R	$0.127
			Regular	Z	$0.171
12/6/18	12/4/18	12/6/18	Regular	A	$0.237
			Regular	C	$0.198
			Regular	I	$0.259
			Regular	R	$0.227
			Regular	Z	$0.259
6/29/18	6/28/18	6/29/18	Regular	A	$0.186
			Regular	C	$0.146
			Regular	I	$0.209
			Regular	R	$0.169
			Regular	Z	$0.209
12/6/17	12/5/17	12/6/17	Regular	A	$0.235
			Regular	C	$0.196
			Regular	I	$0.256
			Regular	R	$0.225
			Regular	Z	$0.256
6/30/17	6/29/17	6/30/17	Regular	A	$0.135
			Regular	C	$0.083
			Regular	I	$0.152
			Regular	R	$0.12
			Regular	Z	$0.152
12/8/16	12/7/16	12/8/16	Regular	A	$0.487
			Regular	C	$0.449
			Regular	I	$0.508
			Regular	R	$0.496
			Regular	Z	$0.508
6/30/16	6/29/16	6/30/16	Regular	A	$0.128
			Regular	C	$0.092
			Regular	I	$0.148
			Regular	R	$0.124
			Regular	Z	$0.148

Pay Date	Record Date	Ex-Dividend Date
12/7/23	12/6/23	12/7/23
Type Regular	Class A	Amount/Share 0.089

Type Regular	Class C	Amount/Share 0.057

Type Regular	Class I	Amount/Share 0.104

Type Regular	Class R	Amount/Share 0.086

Type Regular	Class Z	Amount/Share 0.104
6/30/23	6/29/23	6/30/23
Type Regular	Class A	Amount/Share 0.118

Type Regular	Class C	Amount/Share 0.058

Type Regular	Class I	Amount/Share 0.134

Type Regular	Class R	Amount/Share 0.112

Type Regular	Class Z	Amount/Share 0.134
12/8/22	12/7/22	12/8/22
Type Regular	Class A	Amount/Share 0.077

Type Regular	Class C	Amount/Share 0.045

Type Regular	Class I	Amount/Share 0.094

Type Regular	Class R	Amount/Share 0.069

Type Regular	Class Z	Amount/Share 0.094
6/30/22	6/29/22	6/30/22
Type Regular	Class A	Amount/Share 0.12

Type Regular	Class C	Amount/Share 0.084

Type Regular	Class I	Amount/Share 0.14

Type Regular	Class R	Amount/Share 0.107

Type Regular	Class Z	Amount/Share 0.14
12/9/21	12/8/21	12/9/21
Type Regular	Class A	Amount/Share 0.539

Type Regular	Class C	Amount/Share 0.495

Type Regular	Class I	Amount/Share 0.561

Type Regular	Class R	Amount/Share 0.529

Type Regular	Class Z	Amount/Share 0.561
6/30/21	6/29/21	6/30/21
Type Regular	Class A	Amount/Share 0.342

Type Regular	Class C	Amount/Share 0.299

Type Regular	Class I	Amount/Share 0.364

Type Regular	Class R	Amount/Share 0.33

Type Regular	Class Z	Amount/Share 0.364
12/10/20	12/9/20	12/10/20
Type Regular	Class A	Amount/Share 0.285

Type Regular	Class C	Amount/Share 0.238

Type Regular	Class I	Amount/Share 0.305

Type Regular	Class R	Amount/Share 0.277

Type Regular	Class Z	Amount/Share 0.305
6/30/20	6/29/20	6/30/20
Type Regular	Class A	Amount/Share 0.082

Type Regular	Class C	Amount/Share 0.043

Type Regular	Class I	Amount/Share 0.103

Type Regular	Class R	Amount/Share 0.075

Type Regular	Class Z	Amount/Share 0.103
12/4/19	12/3/19	12/4/19
Type Regular	Class A	Amount/Share 1.037

Type Regular	Class C	Amount/Share 0.987

Type Regular	Class I	Amount/Share 1.06

Type Regular	Class R	Amount/Share 1.028

Type Regular	Class Z	Amount/Share 1.06
6/28/19	6/27/19	6/28/19
Type Regular	Class A	Amount/Share 0.151

Type Regular	Class C	Amount/Share 0.04

Type Regular	Class I	Amount/Share 0.171

Type Regular	Class R	Amount/Share 0.127

Type Regular	Class Z	Amount/Share 0.171
12/6/18	12/4/18	12/6/18
Type Regular	Class A	Amount/Share 0.237

Type Regular	Class C	Amount/Share 0.198

Type Regular	Class I	Amount/Share 0.259

Type Regular	Class R	Amount/Share 0.227

Type Regular	Class Z	Amount/Share 0.259
6/29/18	6/28/18	6/29/18
Type Regular	Class A	Amount/Share 0.186

Type Regular	Class C	Amount/Share 0.146

Type Regular	Class I	Amount/Share 0.209

Type Regular	Class R	Amount/Share 0.169

Type Regular	Class Z	Amount/Share 0.209
12/6/17	12/5/17	12/6/17
Type Regular	Class A	Amount/Share 0.235

Type Regular	Class C	Amount/Share 0.196

Type Regular	Class I	Amount/Share 0.256

Type Regular	Class R	Amount/Share 0.225

Type Regular	Class Z	Amount/Share 0.256
6/30/17	6/29/17	6/30/17
Type Regular	Class A	Amount/Share 0.135

Type Regular	Class C	Amount/Share 0.083

Type Regular	Class I	Amount/Share 0.152

Type Regular	Class R	Amount/Share 0.12

Type Regular	Class Z	Amount/Share 0.152
12/8/16	12/7/16	12/8/16
Type Regular	Class A	Amount/Share 0.487

Type Regular	Class C	Amount/Share 0.449

Type Regular	Class I	Amount/Share 0.508

Type Regular	Class R	Amount/Share 0.496

Type Regular	Class Z	Amount/Share 0.508
6/30/16	6/29/16	6/30/16
Type Regular	Class A	Amount/Share 0.128

Type Regular	Class C	Amount/Share 0.092

Type Regular	Class I	Amount/Share 0.148

Type Regular	Class R	Amount/Share 0.124

Type Regular	Class Z	Amount/Share 0.148

Tax Center

Dividend Calendar

Estimated Sources of Distribution

Pay Date	Class	Per Share Distribution	Net Investment Income	Return Of Capital	Long Term Gain	Short Term Gain
12/7/23	A	$0.089	$0.089	$0	$0	$0
12/7/23	C	$0.057	$0.057	$0	$0	$0
12/7/23	I	$0.104	$0.104	$0	$0	$0
12/7/23	R	$0.086	$0.086	$0	$0	$0
12/7/23	Z	$0.104	$0.104	$0	$0	$0
6/30/23	A	$0.118	$0.118	$0	$0	$0
6/30/23	C	$0.058	$0.058	$0	$0	$0
6/30/23	I	$0.134	$0.134	$0	$0	$0
6/30/23	R	$0.112	$0.112	$0	$0	$0
6/30/23	Z	$0.134	$0.134	$0	$0	$0
12/8/22	A	$0.077	$0.077	$0	$0	$0
12/8/22	C	$0.045	$0.045	$0	$0	$0
12/8/22	I	$0.094	$0.094	$0	$0	$0
12/8/22	R	$0.069	$0.069	$0	$0	$0
12/8/22	Z	$0.094	$0.094	$0	$0	$0
6/30/22	A	$0.12	$0.12	$0	$0	$0
6/30/22	C	$0.084	$0.084	$0	$0	$0
6/30/22	I	$0.14	$0.14	$0	$0	$0
6/30/22	R	$0.107	$0.107	$0	$0	$0
6/30/22	Z	$0.14	$0.14	$0	$0	$0
12/9/21	A	$0.539	$0.539	$0	$0	$0
12/9/21	C	$0.495	$0.495	$0	$0	$0
12/9/21	I	$0.561	$0.561	$0	$0	$0
12/9/21	R	$0.529	$0.529	$0	$0	$0
12/9/21	Z	$0.561	$0.561	$0	$0	$0
6/30/21	A	$0.342	$0.342	$0	$0	$0
6/30/21	C	$0.299	$0.299	$0	$0	$0
6/30/21	I	$0.364	$0.364	$0	$0	$0
6/30/21	R	$0.33	$0.33	$0	$0	$0
6/30/21	Z	$0.364	$0.364	$0	$0	$0
12/10/20	A	$0.285	$0.285	$0	$0	$0
12/10/20	C	$0.238	$0.238	$0	$0	$0
12/10/20	I	$0.305	$0.305	$0	$0	$0
12/10/20	R	$0.277	$0.277	$0	$0	$0
12/10/20	Z	$0.305	$0.305	$0	$0	$0
6/30/20	A	$0.082	$0.082	$0	$0	$0
6/30/20	C	$0.043	$0.043	$0	$0	$0
6/30/20	I	$0.103	$0.103	$0	$0	$0
6/30/20	R	$0.075	$0.075	$0	$0	$0
6/30/20	Z	$0.103	$0.103	$0	$0	$0
12/4/19	A	$1.037	$0.921	$0	$0.116	$0
12/4/19	C	$0.987	$0.871	$0	$0.116	$0
12/4/19	I	$1.06	$0.944	$0	$0.116	$0
12/4/19	R	$1.028	$0.912	$0	$0.116	$0
12/4/19	Z	$1.06	$0.944	$0	$0.116	$0
6/28/19	A	$0.151	$0.151	$0	$0	$0
6/28/19	C	$0.04	$0.04	$0	$0	$0
6/28/19	I	$0.171	$0.171	$0	$0	$0
6/28/19	R	$0.127	$0.127	$0	$0	$0
6/28/19	Z	$0.171	$0.171	$0	$0	$0
12/6/18	A	$0.237	$0.237	$0	$0	$0
12/6/18	C	$0.198	$0.198	$0	$0	$0
12/6/18	I	$0.259	$0.259	$0	$0	$0
12/6/18	R	$0.227	$0.227	$0	$0	$0
12/6/18	Z	$0.259	$0.259	$0	$0	$0
6/29/18	A	$0.186	$0.186	$0	$0	$0
6/29/18	C	$0.146	$0.146	$0	$0	$0
6/29/18	I	$0.209	$0.209	$0	$0	$0
6/29/18	R	$0.169	$0.169	$0	$0	$0
6/29/18	Z	$0.209	$0.209	$0	$0	$0
12/6/17	A	$0.235	$0.235	$0	$0	$0
12/6/17	C	$0.196	$0.196	$0	$0	$0
12/6/17	I	$0.256	$0.256	$0	$0	$0
12/6/17	R	$0.225	$0.225	$0	$0	$0
12/6/17	Z	$0.256	$0.256	$0	$0	$0
6/30/17	A	$0.135	$0.135	$0	$0	$0
6/30/17	C	$0.083	$0.083	$0	$0	$0
6/30/17	I	$0.152	$0.152	$0	$0	$0
6/30/17	R	$0.12	$0.12	$0	$0	$0
6/30/17	Z	$0.152	$0.152	$0	$0	$0
12/8/16	A	$0.487	$0.487	$0	$0	$0
12/8/16	C	$0.449	$0.449	$0	$0	$0
12/8/16	I	$0.508	$0.508	$0	$0	$0
12/8/16	R	$0.496	$0.496	$0	$0	$0
12/8/16	Z	$0.508	$0.508	$0	$0	$0
6/30/16	A	$0.128	$0.128	$0	$0	$0
6/30/16	C	$0.092	$0.092	$0	$0	$0
6/30/16	I	$0.148	$0.148	$0	$0	$0
6/30/16	R	$0.124	$0.124	$0	$0	$0
6/30/16	Z	$0.148	$0.148	$0	$0	$0

Return Of Capital

Long Term Gain

Short Term Gain

Tax Center

Dividend Calendar

Estimates Only - Do Not Use for Tax Reporting Purposes This table provides estimates of the Fund's distribution sources at the time of payment and should not be relied upon or used for tax planning or tax reporting purposes. A return of capital occurs when a portion of the money that you invested is paid back to you and should not be confused with “yield” or “income”. Income as determined under federal income tax regulations differs from GAAP. As a result, distributions are subject to recharacterization for federal income tax purposes. Therefore the actual composition of the distributions noted above may change substantially by year-end and, to the extent these changes do occur, they will have the effect of reducing the net investment income component of fund distributions and correspondingly increasing the capital gains and/or return of capital components. The final determination of the source and tax characteristics of all distributions will be made after year-end and reported to you on Form 1099-DIV and these final amounts may vary significantly from the estimates provided above. Form 1099-DIV, which is mailed after the close of the calendar year, will specify how the distributions paid by the Fund during the year should be characterized and reported on your tax return (e.g. ordinary income, return of capital and capital gain).

Risks

Risks of Investing in Real Estate Securities
Investing involves risk, including possible loss of principal. 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.

Total Net Assets