Alpine Global Dynamic Dividend Fund Attracts $476 Million; 3rd Largest Closed-End Fund IPO of 2006
26 Julio 2006 - 10:58AM
PR Newswire (US)
NEW YORK, July 26 /PRNewswire/ -- Alpine Woods Capital Investors,
LLC announced today the successful pricing of its first closed-end
fund offering, the Alpine Global Dynamic Dividend Fund. The Fund
will begin trading on the New York Stock Exchange (NYSE) today
under the symbol AGD (NYSE:AGD). The primary investment objective
of the Fund is to seek high current dividend income, of which more
than 50% is intended to qualify for the reduced Federal income tax
rates created by the Jobs and Growth Tax Relief Reconciliation Act
of 2003. The Fund also focuses on long-term growth of capital as a
secondary investment objective. The Fund seeks to achieve these
goals by employing a research-driven approach to identifying
companies globally with the potential for dividend increases and
capital appreciation. The Alpine Global Dynamic Dividend Fund
attracted approximately $476 million in its common share offering,
assuming full exercise of underwriters' overallotment options,
which may not occur and before deduction of the sales load. The
Fund is advised by Alpine Woods Capital Investors, LLC, and the
colead managers of the underwriting syndicate were Citigroup Global
Markets Inc. and Wachovia Capital Markets, LLC. Alpine Woods
Capital Investors, LLC (f/k/a Alpine Management & Research,
LLC) also manages the Alpine Mutual Funds, a family of nine
carefully focused open-end investment companies, and also provides
institutional investment management. Shares of closed-end
investment companies, like the Fund, usually trade on a national
stock exchange. Similar to stocks, the Fund's share price will
fluctuate with market conditions and, at the time of sale, may be
worth more or less than the original investment. Shares of
closed-end funds often trade at a discount to their net asset
value. This document is not an offer to sell this security and is
not soliciting an offer to buy this security in any state where the
offer or sale is not permitted. For more complete information about
the Fund, please call 1-800-617-7616 for a free prospectus.
Investors should consider the investment objective, risks, charges
and expenses of the Fund carefully before investing. The prospectus
contains this and other information about the Fund. Investors
should read the prospectus carefully before investing. DATASOURCE:
Alpine Woods Capital Investors, LLC CONTACT: Marc R. Rappaport of
Alpine Woods Capital Investors, LLC, +1-914-251-0880; or Amiee
Watts of SunStar, +1-703-894-1042, for Alpine Woods Capital
Investors, LLC Web site: http://www.alpinefunds.com/
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