The portfolio seeks total return, consisting of high current income and potential capital appreciation. The portfolio seeks to achieve its objective by investing in a portfolio consisting of common stock of closed-end investment companies (known as "closed-end funds"). Cohen & Steers Capital Management, Inc. uses a value oriented methodology to select funds that invest significantly in equity or income producing securities.
Total Return with the Potential for High Monthly Income
The strategy uses the total return approach by focusing on income-producing securities and equities that may have high current income and potential for capital appreciation over the next 15-months.
||Oct 02, 2013
|Scheduled Primary Offering Period
||Oct 02, 2013 - Jan 02, 2014
|Term of Trust
||Jan 05, 2015
Regulated Investment Company
|Public Offering Price
(End of deposit date)
|Maximum Sales Charge
|Sales Charge Schedule
|Sales Charge Volume Discount
|Est. Net Annual Income1
|Initial Payable Date2
||Nov 25, 2013
|Initial Record Date2
||Nov 10, 2013
||Reinvest, Cash, Wrap Reinvest, Wrap Cash
|Estimated Frequency of Offering
Investors in fee-based accounts will not be assessed the initial or deferred sales charges for
eligible fee-based purchases and must purchase units with a Wrap Fee CUSIP.
There is no assurance the trust will achieve its investment objective. An investment in this unit investment trust is subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of trust units may therefore be less than what you paid for them. This trust is unmanaged and its portfolio is not intended to change during the trust's life except in limited circumstances. Accordingly, you can lose money investing in this trust.
You will bear not only your share of the trust's expenses, but also those of the underlying funds. By investing in other funds, the trust incurs greater expenses than you would incur if you invested directly in the funds.
Shares of closed-end funds frequently trade at a discount to their net asset value in the secondary market and the net asset value of closed-end fund shares may decrease.
Certain of the closed-end funds may employ the use of leverage in their portfolios. While leverage often increases the yield of a closed-end fund, it also increases risks, including the likelihood of increased volatility and the possibility that the closed-end fund's common share income will fall if the dividend rate on the preferred shares or the interest rate on any borrowings rises.
The yield on closed-end funds which invest in bonds will generally decline in a falling interest rate environment and increase in a rising interest rate environment.
A security issuer may be unwilling or unable to declare dividends in the future, or may reduce the level of dividends declared. This may reduce the level of dividend a closed-end fund pays which would reduce your income and may cause the value of your units to fall.
Certain of the closed-end funds write call options on their assets. The use of options may require an underlying fund to sell portfolio securities at inopportune times or at prices other than current market values, may limit the amount of appreciation a fund can realize on an investment, or may cause a fund to hold a security it might otherwise sell. To the extent the underlying fund purchases options pursuant to a hedging strategy, the fund could lose its entire investment in the option.
Certain of the closed-end funds may invest in securities rated below investment grade quality ("junk" bonds). Investing in such bonds should be viewed as speculative and you should review your ability to assume the risks associated with investments which utilize such bonds. Junk bonds are subject to numerous risks including higher interest rates, economic recession, deterioration of the junk bond market, possible downgrades and defaults of intereste and/or principal. Junk bond prices tend to fluctuate more than higher rated bonds and are affected by short-term credit developments to a greater degree.
The portfolio and each of the closed-end funds in the portfolio invest in MLPs. Most MLPs operate in the energy sector and are subject to the risks generally applicable to companies in that sector, including commodity pricing risk, supply and demand risk, depletion risk and exploration risk. MLPs are also subject the risk that regulatory or legislative changes could eliminate the tax benefits enjoyed by MLPs which could have a negative impact on the after-tax income available for distribution by the MLPs and/or the value of the portfolio’s investments.
Certain of the closed-end funds invest in securities issed by foreign issuers. Such securities are subject to certain risks including currency and interest rate fluctuations, nationalization or other adverse political or economic developments, lack of liquidity of certain foreign markets, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers.