NEW YORK, Dec. 6, 2019 /PRNewswire/ --
Cohen & Steers Global Income Builder, Inc. (NYSE:
INB) announced today the results of the special meeting where
stockholders approved the reorganization of INB with and into
Cohen & Steers Infrastructure Fund, Inc. (NYSE: UTF)
(the "Reorganization"). The Reorganization is expected to occur
after the close of business on December 20,
2019 (the "Closing Date"), subject to the satisfaction of
customary closing conditions.
After the Reorganization, the investment strategies, policies
and restrictions of the combined Fund will be those of UTF. The
Fund seeks to deliver total return, with an emphasis on income,
through investments in securities issued by infrastructure
companies that own and operate assets such as utilities, cell
towers, pipelines, toll roads, airports, railroads and marine
ports. Until the Closing Date, INB is expected to deviate from its
principal investment strategies and INB's current investment
restrictions will not apply as INB's portfolio will be managed in
anticipation of the Reorganization.
Website: https://www.cohenandsteers.com
Symbol: NYSE: UTF, INB, CNS
About Cohen & Steers. Cohen & Steers is a global
investment manager specializing in liquid real assets, including
real estate securities, listed infrastructure 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 and Tokyo.
Additional Information about the Funds and the
Reorganization
This press release is for informational
purposes only and is not intended to, and does not, constitute an
offer to purchase or sell shares of the Funds.
Forward-Looking Statements
This press release and
other statements that Cohen & Steers may make may contain
forward looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, which reflect the company's current views with respect
to, among other things, its operations and financial performance.
You can identify these forward-looking statements by the use of
words such as "outlook," "believes," "expects," "potential,"
"continues," "may," "will," "should," "seeks," "approximately,"
"predicts," "intends," "plans," "estimates," "anticipates," or the
negative versions of these words or other comparable words. Such
forward-looking statements are subject to various risks and
uncertainties.
Accordingly, there are or will be important factors that could
cause actual outcomes or results to differ materially from those
indicated in these statements. The company undertakes no obligation
to publicly update or review any forward-looking statement, whether
as a result of new information, future developments or
otherwise.
Risks of Investing in Global Infrastructure
Securities
Since UTF concentrates its assets in global
infrastructure securities, the fund will be more susceptible to
adverse economic or regulatory occurrences affecting global
infrastructure companies than an investment company that is not
primarily invested in global infrastructure companies.
Infrastructure issuers may be subject to regulation by various
governmental authorities and may also be affected by governmental
regulation of rates charged to customers, operational or other
mishaps, tariffs and changes in tax laws, regulatory policies and
accounting standards. Foreign securities involve special risks,
including currency fluctuation and lower liquidity. Some global
securities may represent small and medium-sized companies, which
may be more susceptible to price volatility than larger
companies.
Risks of Investing in Closed-End Funds
Shares of many
closed-end funds frequently trade at a discount from their asset
value. The funds are subject to stock market risk, which is the
risk that stock prices overall will decline over short or long
periods, adversely affecting the value of an investment in a
fund.
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SOURCE Cohen & Steers