PURCHASE, New York, Dec. 21 /PRNewswire-FirstCall/ -- Alpine Woods Capital Investors, LLC announced today the declaration of year-end capital gains distributions and ordinary income for its Dynamic series of mutual funds:
ALPINE DYNAMIC DIVIDEND FUND (Ticker: ADVDX; CUSIP: 020875209) Record Date: December 20, 2007 Ex-Date, Reinvestment Date, Payable Date: December 21, 2007 Ordinary Dividend Income: $0.33094 Short Term Capital Gains Distribution: $0.00 Long Term Capital Gains Distribution: $0.00
The Alpine Dynamic Dividend Fund was designed specifically to maximize the amount of distributed dividend income that is qualified for the 15% tax rate, while also employing a research driven approach to identifying companies with the potential for dividend increases and capital appreciation. The Fund's shareholders received a total of $1.641 in dividend income in calendar 2007, with 100% of the distribution estimated to be qualified for the maximum Federal tax rate of 15%. Based on the Fund's closing NAV per share of $12.12 on 12/20/07, the $1.641 payout represents a high level of dividend income that is unique among equity dividend oriented funds.
ALPINE DYNAMIC BALANCE FUND (Ticker: ADBYX; CUSIP: 020875100) Record Date: December 20, 2007 Ex-Date, Reinvestment Date, Payable Date: December 21, 2007 Ordinary Dividend Income: $0.09954 Short Term Capital Gains Distribution: $0.08609 Long Term Capital Gains Distribution: $0.83907
The Alpine Dynamic Balance Fund's guiding investment strategy is to balance the highest grade fixed income investments with undervalued equities growth opportunities. The balance is actively varied between 25% and 75% of the portfolio, aiming for capital appreciation and income from both stocks and bonds. This Fund is modeled after the Evergreen Foundation Fund, established and managed by Stephen Lieber through the 1990's.
ALPINE DYNAMIC FINANCIAL SERVICES FUND (Ticker: ADFSX; CUSIP: 020875308) Record Date: December 20, 2007 Ex-Date, Reinvestment Date, Payable Date: December 21, 2007 Ordinary Dividend Income: $0.00000 Short Term Capital Gains Distribution: $3.32880 Long Term Capital Gains Distribution: $0.00000
The Alpine Dynamic Financial Services Fund seeks long-term capital growth and consistent above-average total returns compared to typical investments made in public companies. The Fund invests at least 80% of its net assets in U.S. and foreign equity securities of companies involved in the financial services industry. With a value-oriented approach, the Fund seeks investment opportunities in equity securities of community banks and other financial services companies believed to be undervalued relative to the market and to the securities' historic valuations. The Fund also aims to invest in equity securities issued by community banks that have strong growth prospects or takeover potential. While the Fund does not restrict itself to specific market capitalizations, it intends to emphasize smaller market capitalizations, including micro-cap.
ALPINE DYNAMIC INNOVATORS FUND (Ticker: ADINX; CUSIP: 020875407) Record Date: December 20, 2007 Ex-Date, Reinvestment Date, Payable Date: December 21, 2007 Ordinary Dividend Income: $0.02151 Short Term Capital Gains Distribution: $0.40123 Long Term Capital Gains Distribution: $0.01188
The Alpine Dynamic Innovators Fund has an objective of capital appreciation. To achieve this objective, the Fund will invest in the equity securities of U.S. and foreign companies that management believes offer superior growth potential due to the innovative nature of a company's products, technology or business model. A value-oriented approach will be emphasized, with management seeking to identify investment opportunities in small, medium, and large capitalization entrepreneurial businesses that it believes are undervalued.
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.
The Alpine Dynamic Balance Fund involves special risks, including but not limited to, options and futures transactions. Please refer to the prospectus for further details. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities.
The Alpine Dynamic Dividend Fund invests in small and mid cap stocks which involve additional risks such as limited liquidity and greater volatility as compared to large cap stocks. Investing in foreign securities tends to involve greater volatility and political, economic and currency risks and differences in accounting methods.
The Alpine Dynamic Financial Services Fund invests in smaller companies, which involve additional risks such as liquidity and greater volatility. It also invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. It primarily invests in equity securities of financial services companies and will be affected by risk factors particular to this industry such as regulation, monetary and fiscal policies and interest rates, as well as general market risks.
The Alpine Dynamic Innovators Fund may invest in smaller and medium size companies, which involve additional risks such as limited liquidity and greater volatility. The Fund may also invest in micro-cap company stocks which are more volatile than those of larger companies and tend to perform poorly during times of economic stress. The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. The Fund may invest in debt securities which typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. The Fund portfolio will involve short positions, which involves unlimited risk including the possibility that losses may exceed the original amount invested. The fund may also use options and future contracts, which have risks associated with unlimited losses of the underlying holdings due to unanticipated market movements and failure to correctly predict the direction of securities prices, interest rates and currency exchange rates. However, a mutual fund investor's risk is limited to one's amount of investment in a mutual fund.
The Funds are distributed by Quasar Distributors, LLC. 12/07
