Two fund series receive the highest ranking in their first period of eligibility
NEW YORK, Sept. 17 /PRNewswire-FirstCall/ -- Cohen & Steers, Inc. announced today that Cohen & Steers Dividend Value Fund Class C (DVFCX) and Dividend Value Fund Class I (DVFIX) received five-star ratings, and Dividend Value Fund Class A (DVFAX) received four stars from Morningstar, a provider of independent investment research. Launched in August 2005, Cohen & Steers Dividend Value Fund is managed by Senior Vice President Rick Helm. Go to www.cohenandsteers.com to learn more about the fund.
"Rick is a recognized leader in the management of large cap equity portfolios that provide the potential for dividend growth," said Martin Cohen, co-chairman and co-chief executive officer of Cohen & Steers. "The Morningstar ratings are an acknowledgment of his expertise and the success of his investment approach."
"Raising dividends is a sign of corporate health that is not lost on long-term investors," Helm said. "Dividends convey management's confidence in their business model and the company's future."
The Dividend Value Fund seeks to generate capital appreciation and dividend income by investing in undervalued companies with strong earnings growth potential and a demonstrated history of growing dividends. Mr. Helm looks for companies that can comfortably cover operating and capital expenses, as well as pay interest and dividends, out of cash flow. Companies that grow dividends have a history of outperforming the market, he noted.
About Morningstar ratings
The overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a mutual fund's three-, five-, and 10-year Morningstar Rating metrics, as applicable.
For each fund with at least a three-year history, Morningstar calculates its ratings based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars and the bottom 10% receive one star.
Cohen & Steers Dividend Value Fund Class C and Cohen & Steers Dividend Value Fund Class I received five stars in the three-year Large Blend category of 1,715 funds. Cohen & Steers Dividend Value Fund Class A received four stars in the same category. Past performance is no guarantee of future results.
About Cohen & Steers
Cohen & Steers (NYSE: CNS) is a manager of income-oriented equity portfolios specializing in U.S. and international real estate securities, large cap value stocks, utilities and listed infrastructure, and preferred securities. The company also offers alternative investment strategies such as hedged real estate securities portfolios and private real estate multimanager strategies. Headquartered in New York City, with offices in London, Brussels, Hong Kong and Seattle, Cohen & Steers serves individual and institutional investors through a broad range of investment vehicles. Go to www.cohenandsteers.com to learn more about our full range of investment products and services.
SOURCE Cohen & Steers, Inc.
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