The portfolio seeks high current income. 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") selected by Cohen & Steers Capital Management, Inc. These closed-end funds generally seek to invest in income-producing securities or strategies, such as preferred securities, convertible bonds, real estate investment trusts (REITs), high yield securities, limited duration securities, senior loans, global income, emerging markets bonds, corporate bonds, covered call option strategies and other income-oriented strategies.
||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 that a unit investment 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 trust may, from time to time, emphasize certain market sectors. To the extent the trust does so, it is more susceptible to economic, political and other occurences influencing those sectors.
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.
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 bonds issued by foreign issuers. Such bonds 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.
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.
Certain of the closed-end funds may invest in high yield bonds. High yield bonds are generally 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 interest 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.