CBRE Clarion Global Real Estate Income Fund (NYSE: IGR) Declares Monthly Distribution for February

Rhea-AI Summary

The Board of Trustees of the CBRE Clarion Global Real Estate Income Fund (NYSE: IGR) has declared a monthly distribution of $0.05 per share for February 2021. Key dates include the declaration date on February 1, 2021, ex-dividend date on February 18, 2021, and payable date on February 26, 2021. The fund's current annualized distribution rate stands at 8.4% based on the market price of $7.17, and 7.4% based on a NAV of $8.13. Future earnings are not guaranteed and the distribution policy is subject to change.

Positive

• Monthly distribution of $0.05 per share for February 2021.
• Current annualized distribution rate of 8.4% based on closing market price.

Negative

• Cumulative Total Return for 2021 is -1.23%, indicating a decline in value.
• The fund has distributed more than its net investment income and net realized capital gains, implying potential returns of capital.

The Board of Trustees of the CBRE Clarion Global Real Estate Income Fund (NYSE: IGR) (the “Fund”) has declared a monthly distribution of $0.05 per share for the month of February 2021. The following dates apply:

		Declaration Date		Ex-Dividend Date		Record Date		Payable Date
February 2021		02-01-2021		02-18-2021		02-19-2021		02-26-2021

IGR’s current annualized distribution rate is 8.4% based on the closing market price of $7.17 on February 4, 2021, and 7.4% based on a closing NAV of $8.13 as of the same date.

Future earnings of the Fund cannot be guaranteed, and the Fund’s distribution policy is subject to change. For more information on the Fund, please visit www.cbreclarion.com.

The Fund’s monthly distribution is set by its Board of Trustees. The Board reviews the Fund’s distribution on a quarterly basis in view of its net investment income, realized and unrealized gains, and other net unrealized appreciation or income expected during the remainder of the year. The Fund strives to establish a level monthly distribution that, over the course of the year, will serve to distribute an amount closely approximating the Fund’s net investment income and net realized capital gains during the year.

CBRE Clarion Global Real Estate Income Fund is a closed-end fund, which is traded on the New York Stock Exchange and invests primarily in real estate securities. Holdings are subject to change. Past performance is no guarantee of future results.

For the current fiscal year (January 1, 2021 to February 28, 2021), the Fund has made or declared two (2) regular monthly distributions totaling $0.10 per share. The source of the distribution declared for the current month and fiscal year to date is estimated as follows:

Estimated Source of Distributions:
							Estimated Allocations
Distribution							Net Investment Income		Net Realized Short- Term Capital Gains		Net Realized Long- Term Capital Gains		Return of Capital
Current			$	0.05			$0.017 (33%)		-- (0%)		-- (0%)		$0.033 (67%)
YTD			$	0.10			$0.033 (33%)		-- (0%)		-- (0%)		$0.067 (67%)

The allocations reported in this notice are only estimates and are not provided for tax reporting purposes. The actual allocations will depend on the Fund’s investment experience during the remainder of its fiscal year and will not be finalized until after year-end. In addition, the allocations reported to shareholders for tax reporting purposes will also reflect adjustments required under applicable tax regulations. Some of these tax adjustments are significant, and amounts reported to you for tax reporting may be substantially different than those presented in this notice. SHAREHOLDERS WILL BE SENT A FORM 1099-DIV FOR THE CALENDAR YEAR INDICATING HOW TO REPORT FUND DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.

The estimated allocations presented above are based on the Fund’s monthly calculation of its year-to-date net investment income, capital gains and returns of capital. The Fund’s investment income is mainly comprised of distributions received from the real estate investment trusts (REITs) and other companies in which it invests. “Net investment income” refers to the Fund’s investment income offset by its expenditures, which include the fees paid to the investment adviser and other service providers. “Net realized capital gains” represents the aggregation of the capital gains and losses realized by the Fund from its purchase and sale of investment securities during the year-to-date period. Short-term capital gains are those arising from the sale of securities held by the Fund for less than one year. Long-term capital gains are those arising from the sale of securities held by the Fund for a year or more. The amount of net realized capital gains is also offset by capital losses realized in prior years. Adjustments to net investment income are made based on the character of distributions received by the Fund. A portion of the distributions the Fund receives from REITs will be characterized by the REITs as capital gains or returns of capital. Because REITs often reclassify the distributions they make, the Fund does not know the ultimate character of these distributions at the time they are received, so the Fund estimates the character based on historical information. The Fund’s net investment income is reduced by the amounts characterized by the REITs as capital gains and returns of capital. Amounts characterized by the REITs as capital gains are added to the Fund’s net realized capital gains. Amounts characterized by the REITs as return of capital are classified as such by the Fund.

The Fund estimates that it has distributed more than its net investment income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”.

Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Fund’s managed distribution policy. The performance and distribution rate information disclosed in the table below is based on the Fund’s net asset value (“NAV”). The Fund’s NAV is calculated as the total market value of all the securities and other assets held by the Fund minus the total value of its liabilities. Performance figures are not meant to represent individual shareholder performance. The value of a shareholder’s investment in the Fund is determined by the market price of the Fund’s shares.

The Fund’s Cumulative Total Return for fiscal year 2021 (January 1, 2021 through January 31, 2021) is set forth below. Shareholders should take note of the relationship between the Cumulative Total Return and the Fund’s Cumulative Distribution Rate for 2021, as well as its Current Annualized Distribution Rate. Moreover, the Fund’s Average Annual Total Return for the preceding five-year period (February 1, 2016 through January 31, 2021) is set forth below. Shareholders should take note of the relationship between the Fund’s Average Annual Total Return and its Average Annual Distribution Rate for the preceding five-year period.

Fund Performance and Distribution Rate Information:

Full Year 01/01/2021 to 01/31/2021
Cumulative Total Return1		-1.23%
Cumulative Distribution Rate2		0.63%
Preceding Five-Year Period 02/01/2016 to 01/31/2021
Average Annual Total Return3		5.94%
Average Annual Distribution Rate4		7.13%
Current Annualized Distribution Rate5		7.54%

1. Cumulative Total Return is the percentage change in the Fund’s NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions.
2. Cumulative Distribution Rate for fiscal year to date 2021 (January 1, 2021 through January 31, 2021) is determined by dividing the dollar value of distributions in the period by the Fund’s NAV as of January 31, 2021.
3. Average Annual Total Return represents the simple arithmetic average of the Annual Total Returns of the Fund for the preceding five-year period. Annual Total Return is the percentage change in the Fund’s NAV over a year including distributions paid and assuming reinvestment of those distributions.
4. Average Annual Distribution Rate is the simple arithmetic average of the Annual Distribution Rates for the preceding five-year period. The Annual Distribution Rates are calculated by taking the total distributions paid during the period divided by average daily NAV for the period.
5. The Current Annualized Distribution Rate is the current monthly distribution rate annualized as a percentage of the Fund’s NAV as of January 31, 2021.

Please refer to the chart below for information about the Fund’s historical NAVs, change in NAVs, total returns, and distributions paid.

		Average Daily NAV for Period			End of Period NAV Per Share			Change in NAV			Annualized Total Returns			Distribution Rate4			Level Distributions Paid			Special Distributions Paid			Total Distributions Paid
IPO					$	15.00
20041		$	14.39		$	17.46		16.40	%		28.20	%		5.77	%		$	0.75		$	0.08		$	0.83
2005		$	16.81		$	17.23		-1.32	%		8.13	%		8.75	%		$	1.29		$	0.18		$	1.47
2006		$	20.27		$	22.78		32.21	%		53.42	%		16.13	%		$	1.38		$	1.89		$	3.27
2007		$	21.67		$	16.16		-29.06	%		-15.82	%		14.86	%		$	1.38		$	1.84		$	3.22
2008		$	11.97		$	5.63		-65.16	%		-61.14	%		10.36	%		$	1.24		$	-		$	1.24
2009		$	5.82		$	7.51		33.39	%		46.79	%		9.28	%		$	0.54		$	-		$	0.54
2010		$	7.82		$	8.58		14.25	%		22.41	%		6.91	%		$	0.54		$	-		$	0.54
2011		$	8.60		$	8.14		-5.13	%		0.94	%		6.28	%		$	0.54		$	-		$	0.54
2012		$	8.99		$	9.48		16.46	%		24.15	%		6.47	%		$	0.54		$	0.042		$	0.582
2013		$	9.57		$	9.04		-4.64	%		0.91	%		5.64	%		$	0.54		$	-		$	0.54
2014		$	9.77		$	10.16		12.39	%		18.73	%		5.52	%		$	0.54		$	-		$	0.54
2015		$	9.67		$	9.04		-11.02	%		-5.57	%		5.89	%		$	0.57		$	-		$	0.57
2016		$	9.11		$	8.65		-4.31	%		2.17	%		6.58	%		$	0.60		$	-		$	0.60
2017		$	8.75		$	8.99		3.93	%		11.29	%		6.85	%		$	0.60		$	-		$	0.60
2018		$	8.36		$	7.55		-16.02	%		-9.75	%		7.18	%		$	0.60		$	-		$	0.60
2019		$	8.62		$	8.86		17.35	%		25.79	%		6.96	%		$	0.60		$	-		$	0.60
2020		$	7.51		$	8.11		-8.47	%		-0.60	%		7.99	%		$	0.60		$	-		$	0.60
20212		$	7.97		$	7.96		-1.85	%		-1.23	%		0.63	%		$	0.05		$	-		$	0.05
Average3											8.79	%		8.15	%

Since Inception Annualized Total Return 4.90%

1. Figures for 2004 are from February 24, 2004, the Fund’s inception date.
2. 2021 figures are for year to date through January 31, 2021.
3. Average calculated on number of months and years since inception. The Fund’s inception date was February 24, 2004.
4. Distribution rate calculated by taking the total distributions paid within the period divided by average daily NAV for the period.

Sources: NAV per share amounts and annualized total returns are published in the Fund’s audited annual reports for the respective year.

About CBRE Clarion Securities:

CBRE Clarion Securities is a registered investment advisory firm specializing in the management of global real asset securities for institutional investors. Headquartered near Philadelphia, the firm has personnel located in the United States, United Kingdom, Hong Kong, Japan, and Australia. For more information about CBRE Clarion Securities, please visit www.cbreclarion.com.

CBRE Clarion Securities is the listed equity management arm of CBRE Global Investors. CBRE Global Investors is a global real assets investment management firm with $114.5 billion in assets under management* as of September 30, 2020. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.

CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2019 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors' presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.

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FAQ

What is the IGR fund's February 2021 distribution amount?

The CBRE Clarion Global Real Estate Income Fund (NYSE: IGR) declared a distribution of $0.05 per share for February 2021.

When is the ex-dividend date for IGR in February 2021?

The ex-dividend date for IGR is February 18, 2021.

What is the current annualized distribution rate for IGR?

The current annualized distribution rate for IGR is 8.4%, based on the market price.

What was the cumulative total return for IGR in 2021?

The cumulative total return for IGR for the fiscal year 2021 is reported at -1.23%.

What are the implications of IGR distributing more than its net investment income?

The distribution exceeding net investment income suggests that a portion may be a return of capital, which does not reflect actual investment performance.