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Cohen & Steers Quality Income Realty Fund, Inc. Changes Non-Fundamental Investment Policy

2021-12-08 09:00 ET - News Release

NEW YORK, Dec. 8, 2021 /PRNewswire/ -- Cohen & Steers Quality Income Realty Fund, Inc. (NYSE: RQI; the "Fund"), announced today that, effective at the close of business on March 31, 2022, the Fund will amend its 80% investment policy.

The Fund rescinds the following non-fundamental investment policy (the "Former Policy"):

Under normal market conditions, at least 80% of the Fund's total assets are invested in income producing equity securities issued by high quality real estate investment trusts ("REITs"). High quality REITs are companies that, in the opinion of the Fund's investment manager, offer prospects for above average revenue and earnings growth.

The Former Policy will be replaced in its entirety with the following new non-fundamental investment policy (the "New Policy"):

Under normal market conditions, at least 80% of the Fund's total assets are invested in income-producing common stocks and other securities issued by real estate companies, such as real estate investment trusts ("REITs"). Real estate securities include common stocks, preferred stocks, and other equity and debt securities issued by real estate companies, including REITs and similar REIT-like entities.

The Fund defines a real estate company as a company that derives at least 50% of its revenue from the ownership, construction, financing, management or sale of commercial, industrial, or residential real estate or has at least 50% of its assets in such real estate.

The New Policy will be effective at the close of business on March 31, 2022 and may only be changed thereafter by the Board of Directors of the Fund following the provision of at least 60 days' written notice to the Fund's shareholders pursuant to Rule 35d-1 under the Investment Company Act of 1940, as amended.

About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong and Tokyo.

Website: https://www.cohenandsteers.com/
Symbols: (NYSE: CNS, RQI)

 

View original content:https://www.prnewswire.com/news-releases/cohen--steers-quality-income-realty-fund-inc-changes-non-fundamental-investment-policy-301440198.html

SOURCE Cohen & Steers, Inc.

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