
Why PSF Is Mispriced: Institutional Capital, Not A Yield Fund
Cohen & Steers Select Preferred and Income Fund is mispriced due to market focus on income metrics, overlooking its capital appreciation strategy. PSF targets institutional preferreds and hybrid capital securities from large, regulated entities, profiting from rapid repricing after financial stress. The fund trades at an 8% discount to NAV, driven by investor misunderstanding of its return drivers and irregular income profile.


















