Cohen & Steers Closed-End Opportunity Fund Announces Changes to Investment Policy
The Cohen & Steers Closed-end Opportunity Fund, Inc. (NYSE:FOF) has announced that its Board of Directors approved changes to the fund's investment policy and strategy effective October 1, 2026. The existing 80% policy will be replaced with a new rule requiring at least 80% of net assets to be invested in common stock or other securities issued by Portfolio Funds listed on U.S. or non-U.S. exchanges. The fund's definition of 'Portfolio Fund' has also been updated, now including any closed-end pooled investment vehicle that does not offer daily redemption rights. This change allows the fund greater flexibility to invest across a broader range of vehicles, both registered and unregistered under the Investment Company Act of 1940. The revised strategy enables investments in various asset classes such as commodities, private equity, real estate, REITs, municipal securities, high yield bonds, and more. The fund will not be constrained by geography or type of investment within Portfolio Funds but may face reduced regulatory protections when investing in unregistered vehicles.
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