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Alpine Global Premier Propertie Message Board

  • mysonchino mysonchino May 24, 2008 2:09 PM Flag

    Thoughts an INB and DVM

    I have been purchasing INB and DVM. Both cefs are run by Cohen and Steers and offer diversifiation with equity reit exposure and trade at a discount.(7% INB and 13% DVM) Many straight equity reit cefs are now trading at premiums. Anyway, DVM has no leverage and pays a 7.75% div. It is reported that this is a 50% return of capital however half of that is ROT passthrough from the underlying reits and utilities. The portfolio is large cap 50%, Reits 30% and utilities 20%.

    I am blending this with INB which is 20% leveraged with half of that leverage coming by way of AMPs. INB pays an 11.75% div but about 50% of that is true ROT. The portfolio is 59% global large cap, 10% preferreds 12% reits and 10% and 9% other cefs. This seems like proper diversification for the inflation that is coming globally. Reinvesting the dividends over time at a blended 10% rate should provide a decent basis as things develop.

    Any thoughts would be appreciated

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