NEW YORK, May 6, 2015 /PRNewswire/ -- Cohen & Steers celebrated the five-year anniversary of the Cohen & Steers Preferred Securities and Income Fund (the "Fund", symbol CPXIX) on May 3, 2015. Since the Fund's inception, assets under management have reached approximately $3.7 billion (as of March 31, 2015 across all share classes).

Morningstar recognizes the Fund's excellent risk-adjusted performance with an overall five-star rating.(1) At April 30, 2015, over the three- and five-year horizons, the Fund ranked in the first percentile of all actively managed fixed income funds.(2) "We are very pleased with the Fund's strong performance. Global financial reforms are leading to enormous investment opportunities for active managers of preferred securities portfolios, particularly in the large global market for over-the-counter issues. The Fund's success can mostly be attributed to our focus on in-depth research into this global institutional marketplace," said Executive Vice President and Senior Portfolio Manager William Scapell. He has managed the Fund since inception and has been an active manager of preferred securities portfolios at Cohen & Steers for more than 12 years.

The investment objective of the Fund is to seek total return through high current income and capital appreciation by investing in preferred and debt securities issued by U.S. and non-U.S. companies. Preferred securities are issued by banks, insurance companies, REITs and other diversified financials as well as utility, energy, pipeline and telecommunications companies.

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(1) Morningstar Category: Preferred Stock. Morningstar Ratings(TM) are as of 4/30/15 and are subject to change. For each fund with at least a five-year history, Morningstar calculates its ratings based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars and the bottom 10% receive one star. Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages. The Overall Morningstar Rating for a retail mutual fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Ratings are ©2015 Morningstar, Inc. All Rights Reserved.

(2) Peer Group: U.S. Domiciled Fixed Income Funds. Peers are defined as all U.S. domiciled open-end fixed income mutual funds in Morningstar's database at April 30, 2015.

Please consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. A summary prospectus and prospectus containing this and other information may be obtained by visiting or by calling 800 330 7348. Please read the summary prospectus and prospectus carefully before investing.

Investing in any market exposes investors to risks. In general, the risks of investing in preferred securities are similar to those of investing in bonds, including credit risk and interest-rate risk. As nearly all preferred securities have issuer call options, call risk and reinvestment risk are also important considerations. In addition, investors face equity-like risks, such as deferral or omission of distributions, subordination to bonds and other more senior debt, and higher corporate governance risks with limited voting rights. Risks associated with preferred securities differ from risks inherent with other investments. In the event of bankruptcy, a company's preferred securities are senior to common stock but subordinated to all other types of corporate debt. Corporate bonds sit higher in the capital structure and therefore in the event of bankruptcy will be senior to preferred securities. High-yield bonds, although typically issued by different types of issuers than those that issue preferred securities and rated below investment grade, also would sit higher in a firm's capital structure than preferred securities if the issuer did employ both forms of issuance. 10-Year Treasury notes are issued by the U.S. government and are considered the safest of all bonds since they are backed by the full faith and credit of the U.S. government as to the timely payment of principal and interest. Below-investment-grade securities or equivalent unrated securities generally involve greater volatility of price and risk of loss of income and principal, and may be more susceptible to real or perceived adverse economic and competitive industry conditions than higher-grade securities.

About Cohen & Steers. Founded in 1986, Cohen & Steers is a leading global investment manager with a long history of innovation and a focus on real assets, including real estate, infrastructure and commodities, along with preferred securities and other income solutions. Headquartered in New York City, with offices in London, Hong Kong, Tokyo and Seattle, Cohen & Steers serves institutional and individual investors around the world.

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