NEW YORK, Dec. 10 /PRNewswire-FirstCall/ -- The board of directors of Cohen & Steers Select Utility Fund, Inc. (NYSE: UTF) has determined that the merger of UTF with Cohen & Steers REIT and Utility Income Fund, Inc. (NYSE: RTU) remains in the best interest of stockholders and has set new record and adjourned meeting dates of December 17, 2009 and February 26, 2010, respectively. The merger, if approved, is expected to occur in the first quarter of 2010.
On November 24, 2009, stockholders of UTF approved expanding UTF's investment objective to include global infrastructure securities. UTF will change its name to Cohen & Steers Infrastructure Fund, Inc. and its benchmark to the UBS Global 50/50 Infrastructure & Utilities Index. These changes, along with the transition of UTF's portfolio to investments in global infrastructure securities, will be effective January 1, 2010.
About Cohen & Steers
Cohen & Steers is a manager of income-oriented equity portfolios specializing in U.S. and international real estate securities, large cap value stocks, listed infrastructure and utilities, and preferred securities. The company also manages alternative investment strategies such as hedged real estate securities portfolios and private real estate multi-manager strategies for qualified investors. Headquartered in New York City, with offices in London, Brussels, Hong Kong and Seattle, Cohen & Steers serves individual and institutional investors through a broad range of investment vehicles.SOURCE Cohen & Steers