Alpine Global Dynamic Dividend Fund (AGD)

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See all Bulls Reasons Bulls: Reasons To Buy Optimizes taxable dividend income and capital growth 100% agree Optimizes taxable dividend income and capital growth The Alpine Global Dynamic Dividend Fund (AGD) offers a unique and balanced approach to optimizing both taxable dividend income and long term capital growth. The fund manager uses a primarily international-based security spectrum to find exceptional... read more View or Edit Reason 1 votes 100% agree "Great fund, great managers" 0% agree "Great fund, great managers" Alpine Global Dynamic Dividend Fund appears to be a great CEF that pays an outstanding dividend and is minded by competent and watchful management. I generally do not purchase or recommend CEFs that trade at a premium to asset value. However, given the... read more View or Edit Reason 0 votes 0% agree Great fund, great managers 0% agree Great fund, great managers Alpine Global Dynamic Dividend Fund appears to be a great CEF that pays an outstanding dividend and is minded by competent and watchful management. I generally do not purchase or recommend CEFs that trade at a premium to asset value. However, given the... read more View or Edit Reason 0 votes 0% agree See all Bears Reasons Bears: Reasons To Sell Complex trading strategy required to maintain dividend rate 0% agree Complex trading strategy required to maintain dividend rate AGD relies on a complex "dividend capture" trading strategy to maintain its dividend. Few securities in the portfolio actually yield more than this closed end fund. Because a stock falls in price by the amount of the dividend when it goes ex-dividend... read more View or Edit Reason 0 votes 0% agree Send the authors a comment or suggestion Be the first to make a suggestion See All Suggestions

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The Alpine Global Dynamic Dividend Fund is a closed end fund (CEF) that attempts to maximize tax-advantaged income by investing in high yielding global stocks. The fund is currently approximately 75% (March 2008) in international stocks and the balance is in U.S. based company stocks.

The fund also employs a dividend rotation strategy to capture extra dividends during the course of the year. This strategy involves trading in and out of stocks that pay dividends in different months to capture extra dividend payments. The risk of this strategy is that stock prices fall by the amount of the dividend when the stock goes "ex-dividend" so careful timing is required to avoid losing in share price what you are earning in dividend.

Annual expenses of the fund total 1.28% The fund does hedge against foreign currency changes.

The fund is managed by Alpine Woods Capital Investors, LLC based in Westchester County, New York. The management company has been in business since 1997 and currently has approximately $12 billion under management.

As of December 31, 2007 the top 10 holding were as follows (these companies comprised 18.5% of the fund):

• Reed Elsevier Plc
• Macquarie Infrastructure Co. LLC
• FLFmidth & Co. AS
• Anglo Irish Bank Corp. Plc
• Nintendo Co.,Ltd.
• American Movil SAB de C.V.
• ABB Ltd.
• Wartsila Oyj.
• NKT Holding AS
• Acta Holding AS

Closed End Funds can trade at premiums or discounts to their net asset value (NAV).

Source: Alpine CEF website[1]

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