NEW YORK, Aug. 22, 2013 /PRNewswire/ -- The Internal Revenue Service ("IRS") recently issued proposed regulations which, if adopted in their current form, would require Cohen & Steers MLP Income and Energy Opportunity Fund, Inc. (NYSE: MIE) (the "Fund") to limit its overall investment in MLPs to no more than 25% of the Fund's total assets, or to change its tax status in order to hold more than 25% in MLPs. The proposed regulations would not limit the Fund's investments in affiliates of MLPs or other Energy Investments structured as corporations rather than as MLPs.
The Fund has complied and intends to continue to comply with all future tax regulations, and the proposal has no immediate impact on the current operations of the Fund. The IRS has requested comments on the proposal by October 31, 2013. A public hearing on the proposal is scheduled for December 9, 2013. It has not been determined whether, when and in what form these proposed regulations will be adopted, or, if adopted, the impact such regulations may have on the Fund. If ultimately adopted, the regulations are expected to apply 90 days after publication of the new rules.
Cohen & Steers Capital Management, Inc., the Fund's investment advisor, believes that, in the event the proposed regulations are adopted, the Fund will be able to otherwise continue to pursue its investment objective and strategies by maintaining its status as a regulated investment company or by converting to a C-corporation.
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. Headquartered in New York City, with offices in London, Hong Kong, Tokyo and Seattle, Cohen & Steers serves institutional and individual investors around the world.