Cohen & Steers Select Preferred and Income Fund, Inc.

Frequently Asked Questions About PSF

What does PSF invest in?

Cohen & Steers Select Preferred and Income Fund, Inc. is a closed ended fixed income mutual fund launched by Cohen & Steers Inc. It is managed by Cohen & Steers Capital Management, Inc. The fund invests in the fixed income markets across the globe. It also invests some portion of its portfolio in other open-end funds, closed-end funds, or exchange traded funds that invest primarily in preferred and/or debt securities. The fund seeks to invest in traditional preferred securities, hybrid-preferred securities, floating rate preferred securities, corporate debt securities, and convertible securities with maturity of ten years or more. It intends to utilize leverage in an amount up to 33.33% of its managed assets through borrowings. The fund uses fundamental analysis and focuses on factors like issuer’s creditworthiness, account prevailing market factors, issuer’s corporate and capital structure, and the placement of the preferred or debt securities within that structure. It benchmarks the performance of its portfolio against the BofA Merrill Lynch Fixed Rate Preferred Index, Barclays Capital U.S. Aggregate Bond Index, and a composite benchmark comprising of 50% of the BofA Merrill Lynch US Capital Securities Index and 50% of the BofA Merrill Lynch Fixed Rate Preferred Index. Cohen & Steers Select Preferred and Income Fund, Inc. was formed on August 16, 2010 and is domiciled in the United States.

What is the expense ratio of PSF?

Cohen & Steers Select Preferred and Income Fund, Inc. (PSF) charges an expense ratio of 3.76%. This is the annual fee deducted from fund assets to cover management and operations.

What is PSF's dividend yield?

PSF's trailing-twelve-month yield is 8.40%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of PSF?

Effective duration measures PSF's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. PSF's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of PSF?

PSF's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of PSF?

Yield to maturity (YTM) is the total return you'd earn from PSF if every bond in the portfolio is held to maturity at the current price. PSF's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.