NEW YORK, March 23, 2016 /PRNewswire/ -- Cohen & Steers Preferred Securities and Income Fund (Class I: CPXIX) and Cohen & Steers Real Estate Securities Fund (Class I: CSDIX ) have received 2016 Lipper performance awards for consistent returns for the three- and five-year periods ended December 31, 2015. CPXIX and CSDIX were compared against their peers within the Flexible Income and Real Estate categories, respectively.
"We are proud to be recognized for the industry-leading performance these funds have provided to our clients over the past five years," remarked Robert Steers, Chief Executive Officer of Cohen & Steers. "We believe this reflects the strength of our investment teams and the discipline of our investment process."
Mr. Steers added, "Research-driven active management is more important than ever when investing in specialized asset classes such as preferred securities and REITs. Historically, active managers in these "niche" asset classes have had strong success in outperforming passive index-tracking strategies, especially in changing market environments and over full market cycles."
William Scapell, director of fixed income and co-portfolio manager of Cohen & Steers Preferred Securities and Income Fund, said "We are very pleased with our strong performance. Global financial reforms are leading to enormous investment opportunities for active managers of preferred securities portfolios, particularly in the large global market for over-the-counter issues."
Thomas Bohjalian, head of U.S. real estate securities and portfolio manager of Cohen & Steers Real Estate Securities Fund, noted, "When selecting companies for investment, we utilize a proprietary valuation model that emphasizes fundamentals, most specifically cash flow growth and underlying real estate value." He added that this basic approach is applied across the firm's institutional and retail real estate investment products.
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About Cohen & Steers. Cohen & Steers is a global investment manager specializing in liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Hong Kong, Tokyo and Seattle.
Please consider the investment objectives, risks, charges and expenses of any Cohen & Steers fund carefully before investing. A summary prospectus and prospectus containing this and other information may be obtained by visiting cohenandsteers.com or by calling 800 330 7348. Please read the summary prospectus and prospectus carefully before investing.
Lipper Leader ratings for Consistent Return. Lipper Leader ratings for Consistent Return reflect funds' historic returns, adjusted for volatility, relative to peers. Ratings for consistent return are computed for all Lipper classifications with five or more distinct portfolios and span both equity and fixed-income funds. The ratings are subject to change every month and are calculated for the following time periods: 3-year, 5-year, 10-year, and overall. The overall calculation is based on an equal-weighted average of percentile ranks for the Consistent Return metrics over 3-year, 5-year, and 10-year periods (if applicable). The highest 20% of funds in each classification are named Lipper Leaders for Consistent Return. The next 20% receive a rating of 4; the middle 20% are rated 3; the next 20% are rated 2, and the lowest 20% are rated 1.
A Lipper Leader for Consistent Return is a fund that has provided superior consistency and risk-adjusted returns when compared to a group of similar funds. Lipper Leaders for Consistent Return may be the best fit for investors who value a fund's year-to-year consistency relative to other funds in a particular peer group.
Investors are cautioned that some peer groups are inherently more volatile than others, and even Lipper Leaders for Consistent Return in the most volatile groups may not be well suited to shorter-term goals or less risk-tolerant investors.
Cohen & Steers Real Estate Securities Fund. The Fund is subject to special risk considerations similar to those associated with the direct ownership of real estate due to its policy of concentration in the securities of real estate companies. Real estate valuations may be subject to factors such as changing general and local economic, financial, competitive and environmental conditions. 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.
Cohen & Steers Preferred Securities and Income Fund. There are special risks associated with investing in the Fund. In general, the risks of investing in preferred securities are similar to those of investing in bonds, including credit risk and interest-rate risk. As nearly all preferred securities have issuer call options, call risk and reinvestment risk are also important considerations. In addition, investors face equity-like risks, such as deferral or omission of distributions, subordination to bonds and other more senior debt, and higher corporate governance risks with limited voting rights. An investment in the Fund is subject to investment risk, including the possible loss of the entire principal amount that you invest. The value of these securities, like other investments, may move up or down, sometimes rapidly and unpredictably. The Fund may invest in below-investment grade securities. Below-investment-grade securities or equivalent unrated securities generally involve greater volatility of price and risk of loss of income and principal, and may be more susceptible to real or perceived adverse economic and competitive industry conditions than higher-grade securities.
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SOURCE Cohen & Steers; Cohen & Steers Preferred Securities and Income Fund, Inc.; Cohen & Steers Real Estate Securities Fund, Inc.