|Ex-Dividend Date||Record Date||Payable Date|
IGR’s current distribution rate represents an annualized yield of 6.0% based on the closing market price of
Future earnings of the Fund cannot be guaranteed, and the Fund’s dividend policy is subject to change. For more information on the Fund, please visit www.cbreclarion.com.
The Fund’s dividend policy is established by its
For the current fiscal year (
|Estimated Source of Distributions:|
|Net Investment||Net Realized Short-||Net Realized Long-||Return of|
|Distribution||Income*||Term Capital Gains||Term Capital Gains||Capital|
|Current||$||0.045||$||0.028 (61%)||-- (0%)||-- (0%)||$||0.017 (39%)|
|YTD||$||0.315||$||0.193 (61%)||-- (0%)||-- (0%)||$||0.122 (39%)|
*Includes PFIC income, as defined below.
The amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. THE FUND WILL SEND YOU A FORM 1099-DIV FOR THE CALENDAR YEAR INDICATING HOW TO REPORT FUND DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.
The Fund invests primarily in real estate investment trusts (“REITs”) and similar companies. When these companies make distributions during the year, they do not disclose the character of those distributions. The Fund uses historical information to generate the estimated character reflected in this notice. Until the Fund receives information as to the character of distributions it has received from these companies – generally around
The Fund invests in certain companies that have been designated as PFICs for purposes of U.S. tax regulations. Increases in the value of these PFICs (“PFIC Income”) increase the income of the Fund. PFIC Income does not reflect dividends or other income actually received by the Fund, although it does serve to increase the net investment income the Fund is required to distribute. The amount of net investment income described in the foregoing table (Estimated Source of Distributions) may include PFIC Income. Decreases in the value of these PFICs (“PFIC Losses”) offset the other investment income of the Fund. PFIC Losses do not reflect a diminution in the amount of dividends or income actually received by the Fund, although they do serve to reduce the net investment income the Fund is required to distribute. The amount of net investment income in the foregoing table (Estimated Source of Distributions) may have been reduced by PFIC Losses.
The Fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”.
Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s managed distribution policy. The performance and distribution rate information disclosed in the table below is based on the Fund’s net asset value (“NAV”). The Fund’s NAV is calculated as the total market value of all the securities and other assets held by the Fund minus the total value of its liabilities. Performance figures are not meant to represent individual shareholder performance. The value of a shareholder’s investment in the Fund is determined by the market price of the Fund’s shares.
The Fund’s Cumulative Total Return for fiscal year to date 2014 (
Fund Performance and Distribution Rate
|Cumulative Total Return1||15.71||%|
|Cumulative Distribution Rate2||2.65||%|
|Preceding Five-Year Period |
|Average Annual Total Return3||21.52||%|
|Average Annual Distribution Rate4||6.42||%|
|Current Annualized Distribution Rate5||5.31||%|
|1||Cumulative Total Return is the percentage change in the Fund’s NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions.|
Cumulative Distribution Rate for the Fund’s current fiscal period
|3||Average Annual Total Return represents the simple arithmetic average of the Annual Total Returns of the Fund for the preceding five-year period. Annual Total Return is the percentage change in the Fund’s NAV over a year including distributions paid and assuming reinvestment of those distributions.|
|4||Average Annual Distribution Rate is the simple arithmetic average of the Annual Distribution Rates for the preceding five-year period. The Annual Distribution Rates are calculated by taking the total distributions paid during the period divided by average daily NAV for the period.|
The Current Annualized Distribution Rate is the current monthly
distribution rate annualized as a percentage of the Fund’s NAV as of
Please refer to the chart below for information about the Fund’s historical NAVs, change in NAVs, total returns, and distributions paid.
|NAV for||NAV Per||Change||Total||Distribution||Distributions||Distributions||Distributions|
Since Inception Annualized Total Return
Figures for 2004 are from |
2014 figures are year-to-date through |
Average calculated on number of months and years since inception.
The Fund’s inception date was |
|4||Distribution rate calculated by taking the total distributions paid within the period divided by average daily NAV for the period.|
Sources: NAV per share amounts and annualized total returns are published in the Fund’s audited annual reports for the respective year.
*Assets under management (AUM) refers to fair market value of real estate-related assets with respect to which
Analyst and Press Inquiries: