PURCHASE, N.Y., Dec. 21 /PRNewswire-FirstCall/ -- Alpine Woods Capital Investors, LLC announced today the declaration of ordinary income and year-end capital gains distributions for the Alpine International Real Estate Equity Fund (Ticker: EGLRX), Alpine U.S. Real Estate Equity Fund (Ticker: EUEYX), and the Alpine Realty Income & Growth Fund (Ticker: AIGYX):
ALPINE INTERNATIONAL REAL ESTATE EQUITY FUND (Ticker: EGLRX; CUSIP: 020940409) Record Date: December 20, 2007 Ex-Date, Reinvestment Date, Payable Date: December 21, 2007 Ordinary Dividend Income: $0.52754 Short Term Capital Gains Distribution: $0.62697 Long Term Capital Gains Distribution: $1.47492
Initiated in 1989 as the first global real estate fund in the United States, this Fund was originally known as the Evergreen Global Real Estate Equity Fund; its name was changed to Alpine International Real Estate Equity Fund in 1998. The Fund was conceived with the idea of providing low beta(1) participation through a diversified approach to balancing both value and international real estate growth. This strategic focus remains its guiding principle, with continued analysis of countries, property markets, and the portfolios and management of individual companies. Capital appreciation is a primary focus, with income secondary.
ALPINE U.S. REAL ESTATE EQUITY FUND (Ticker: EUEYX; CUSIP: 020940805) Record Date: December 20, 2007 Ex-Date, Reinvestment Date, Payable Date: December 21, 2007 Ordinary Dividend Income: $0.52754 Short Term Capital Gains Distribution: $0.00 Long Term Capital Gains Distribution: $0.00
Designed to benefit from the cyclical appreciation potential of real estate, this Fund's scope embraces the breadth of real estate opportunity in United States public equities. Launched in 1993 as the Evergreen U.S. Real Estate Equity Fund, it became the Alpine U.S. Real Estate Equity Fund in 1998. It has been the industry pioneer in including non-REIT stocks -- such as hoteliers, homebuilders, developers, operators, and asset plays. With income as a secondary focus, the Fund aims for long-term capital appreciation, looking for opportunistic and undervalued investments, and early cycle recovery and growth situations.
ALPINE REALTY INCOME & GROWTH FUND (Ticker: AIGYX; CUSIP: 020940862) Record Date: December 20, 2007 Ex-Date, Reinvestment Date, Payable Date: December 21, 2007 Ordinary Dividend Income: $0.24000 Short Term Capital Gains Distribution: $0.00 Long Term Capital Gains Distribution: $1.71143
Formed in 1998, this Fund aims to provide comparatively high dividend income and capital appreciation with a low beta(1), from a diversified portfolio of REITS (real estate income trusts) and other real estate securities. Its focus is on income and growth, seeking a conservative mix of undervalued situations and growth opportunities. In analyzing potential investment targets, areas scrutinized include a company's portfolio and business model, as well as management's skills within the framework of macro- economic, demographic, and real estate market trends.
(1) Beta - The measure of a stock or fund's historical price volatility relative to a representative market index (i.e. the S&P 500).
Performance data quoted represents past performance and does not guarantee future results.
The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 1-888-785-5578, or visiting http://www.alpinefunds.com/. Read it carefully before investing.
Funds that concentrate their investments in a specific sector, such as real estate, tend to experience more volatility and be exposed to greater risk than more diversified mutual funds. Alpine advocates the use of sector funds as part of an integrated investment strategy.
The Funds are distributed by Quasar Distributors, LLC. 12/07
