Denver, December 19, 2022 /PRNewswire/ – The Board of Directors (the “Board”) of Principal Real Estate Income Fund (the “Fund”) announced today that it has approved the renewal of the Fund’s share repurchase program. Under the share repurchase program, the Fund may purchase up to 3.5% of its outstanding common stock at inception. January 21, 2023In the open market, until January 21, 2024. As the board evaluates options to increase shareholder value, ALPS Advisors Inc. (the “Adviser”) authorizes the purchase of the Fund’s common shares at such time and in such amounts as the Adviser believes will reasonably enhance stockholder value.
The Board and the Advisor continuously explore options to increase shareholder value and reduce the discount between the market value of the Fund’s common shares and the net asset value (“NAV”) of the shares. The Board and the Adviser believe that a share repurchase program can further these goals because the program allows the Fund to acquire shares in the open market at a discount to NAV, which may increase NAV and benefit remaining shareholders, which may provide additional liquidity. In trading of the Fund’s shares. The Board will monitor the repurchase program and continue to consider strategic options to enhance long-term stock value.
The Fund’s repurchase program is implemented on a voluntary basis under the direction of the Adviser. There is no assurance that the Fund will purchase Shares at any discount or in any particular amount or that the market value of the Fund’s Shares will increase.
An investment in the Fund is not suitable for all investors and is not intended to be a complete investment program. The fund is designed as a long-term investment, not as a trading vehicle.
Investing in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose all or all of your investment and exposure to substandard investments (ie, “junk bonds”). The Fund’s net asset value may vary and its spread may vary and both may be affected by many factors, including changes in the market for a particular benchmark spread, market interest rates and the performance of the broader equity markets. Fluctuations in net asset value may increase as a result of the use of the Fund. Therefore, you should carefully consider the risks involved in investing in the Fund’s common shares before investing.
Real estate-backed securities are subject to the same market risks as direct ownership of commercial real estate, including declines in real estate values, declines in rental or housing prices, and general and related risks. Local economic conditions.
The Fund’s investment objectives and policies are not designed to seek to return the initial investment to investors purchasing the Shares.
An investor should carefully consider the investment objectives, risks, fees and costs before investing. For an annual report or semi-annual report containing this and other information, visit www.principalcef.com or call 855.838.9485. Please read carefully before investing.
Shares of closed-end investment companies are sold at a discount to their net asset value and their original cost.
Not FDIC insured It may lose value No bank guarantee.
The fund is a closed-end fund and does not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering, the fund is now traded on the secondary market. Investors who wish to buy or sell shares must place orders through an intermediary or broker. The share price of a closed-end fund depends on the market price.
ALPS Advisors, Inc. is the Fund’s investment advisor.
Principal Real Estate Investors LLC is the Fund’s investment sub-adviser. Principal Real Estate Investors LLC with ALPS Advisors, Inc. Nor is it affiliated with any of its affiliates.
ALPS Portfolio Solutions Distributor, Inc. It is a member firm of FINRA.
About SS&C technologies
SS&C is a global provider of investment and financial software-enabled services and software to the global financial services and healthcare industries. In the year Founded in 1986, SS&C is headquartered there. Windsor, Connecticut And has offices around the world. Some 18,000 financial services and healthcare organizations, from the largest global institutions to indigenous organizations, manage and account for their investments using SS&C products and services. For more information, visit www.ssctech.com.
About SS&C ALPS Consultants
ALPS Advisors, Inc., a wholly owned subsidiary of SS&C Technologies, Inc., is a leading provider of investment products to advisors and institutions. More than enough 18.36 billion dollars As in assets under management September 30, 2022The firm is an open-architecture boutique investment manager that provides portfolio building blocks, proactive insight and leads clients to investment results in sustainable income, thematic and alternative growth strategies. For more information, visit www.alpsfunds.com.
About the main real estate investors
Major Real Estate Investors manages or advises on $98.5 billion in commercial real estate assets as of September 30, 2022. The firm’s real estate portfolio includes public and private equity and debt investment options. Principal Real Estate Investors is a real estate group that is a member of Principal Global Investors, a diversified asset management firm and Principal Financial Group®.
SOURCE Major Real Estate Income Fund