PRINCIPAL REAL ESTATE INCOME FUND CONTINUES SHARE REPURCHASE PROGRAM
DENVER, Dec 13, 2021 / PRNewswire / – The Board of Trustees (the “Board of Directors”) of the Principal Real Estate Income Fund (the “Fund”) announced today that it has approved a renewal of the Fund’s share buyback program. As part of the share buyback program, the fund can January 20, 2022, on the open market until January 20th, 2023. As part of its evaluation of options to increase shareholder value, the Directors have authorized ALPS Advisors, Inc. (the “Adviser”) to repurchase the common stock of the Fund at such times and in such quantities as the adviser reasonably believes this can lead to an improvement in company value.
The Board of Directors and the Adviser continuously analyze options to increase shareholder value and possibly reduce the discount between the market price of the common stock of the Fund and the net asset value per share (“NAV”). The Directors and Adviser believe that the share buyback program can further these goals as the program allows the Fund to buy its shares in the open market at a discount to the NAV, which increases the NAV and thereby benefits the remaining shareholders , while at the same time additional liquidity may possibly be provided in trading in fund shares. The Board of Directors will monitor the buyback program and continue to review strategic options to increase shareholder value over the long term.
The Fund’s repurchase program will be conducted at its discretion under the direction of the Investment Adviser. There is no guarantee that the Fund will buy Shares at any particular discount or amount or that the market price of Shares in the Fund will increase as a result of share repurchases.
RISKS
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 to be a long-term investment and not a trading vehicle.
There are risks associated with investing in the Fund, including the risk that you may receive little or no return on your investment, or lose some or all of your investment, and your exposure to sub-investment grade investments (ie “junk Bonds “). The Fund’s Net Asset Value will vary and its payout rate will vary and both can be affected by numerous factors including changes in market dispersion across a particular benchmark, market interest rates and the performance of the broader equity markets. The fluctuations in the net asset value may be exacerbated by the use of leverage by the fund. Therefore, before investing, you should carefully consider the risks you take in investing in the common stocks of the Fund.
Securities backed by commercial real estate are subject to market risks similar to those of direct ownership of commercial real estate, including, but not limited to, depreciation of real estate, declining rental or occupancy rates, and risks related to general and local economic conditions.
The Fund’s investment objective and policy is not to return the initial investment to investors who purchase Shares.
An investor should carefully consider the investment objectives, risks, fees and costs before investing. For an annual or semi-annual report containing this and other information, visit www.principalcef.com or call 855.838.9485. Please read them carefully before investing.
Closed-ended investment company stocks often trade at a discount from their net asset value and initial issue price.
NOT FDIC INSURED | May lose value | No bank guarantee
The fund is a closed-end fund and does not continuously issue stocks for sale as is the case with open-ended mutual funds. Since going public, the fund has now been traded on the secondary market. Investors wishing to buy or sell stocks must place their orders through an intermediary or broker. The share price of a closed fund is based on the market value.
ALPS Advisors, Inc. is the investment advisor to the Fund.
Principal Real Estate Investors LLC is the investment sub-advisor to the Fund. Principal Real Estate Investors LLC is not affiliated with ALPS Advisors, Inc. or any of its affiliates.
ALPS Portfolio Solutions Distributor, Inc. is the FINRA member firm.
About SS&C Technologies
SS&C is a global provider of software-based investment and financial services and software to the global financial services and healthcare industries. SS&C was founded in 1986 and is headquartered in Windsor, Connecticut and has offices all over the world. Around 18,000 financial services and healthcare organizations, from the world’s largest institutions to local firms, manage and balance their investments using SS&C products and services. More information is available at www.ssctech.com.
About SS&C | ALPS consultant
ALPS Advisors, Inc., a wholly owned subsidiary of SS&C Technologies, Inc., is a leading provider of investment products to advisors and institutions. With more than $ 18 billion in assets under management September 30, 2021, the firm is an open architecture boutique investment manager that offers portfolio building blocks, active insights and an unwavering drive to guide clients to investment results related to sustainable income, thematic and alternative growth strategies. More information is available at www.alpsfunds.com.
About major real estate investors
Principal Real Estate Investors manages or advises $ 98.4 Billion in commercial real estate assets, as of September 30, 2021. The company’s real estate expertise includes both public and private equity and debt investments. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
SOURCE Principal Real Estate Income Fund
