ALPINE GLOBAL DYNAMIC DIVIDEND FUND NEW

10.01up0.01 (0.10%)

 as of 12:07:40pm ET 04/24/2014

Please note: Closed end funds are subject to the risk of their underlying assets and investment strategy. Unlike open end funds, closed end funds trade on an exchange at a price which is often a discount to their net asset value (NAV). The market price may experience periods of increased volatility due to the use of leverage as well as market and fund illiquidity. Important information you should know about investing in closed-end funds.

Bid --
Bid Size --
Ask --
Ask Size --
Open 10.03
High 10.03
Low 9.97
Previous Close 10.00
Price Performance (Last 52 Wk) 5.26%
Volume 20,361
Volume (90-Day Average) 49,694
Bid / Ask Spread (1 Month Average) --
Premium / Discount (1 Month Average)^
as of 03/31/2014
-11.42%
NAV
as of 04/23/2014
11.22
NAV Update Frequency DAY
Options No
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Security Type

Closed End Fund

Asset Class

International Equity

Morningstar Category

World Stock

Prospectus Objective

World Stock

Net Assets
AS OF 03/31/2014

$142.4M

Total Expense Ratio (Reported)
AS OF 10/31/2013

1.47%

Sponsor

Alpine Woods Capital Investors

Inception Date

07/26/2006

Financial Year-End

October 31, 2013

Benchmark Index

World Stock

Legal Structure

Closed End Fund

Total Holdings
AS OF 01/31/2014

133

Investment Objective Summary

The Funds primary investment objective is to seek high current dividend income, more than 50% of which qualifies for the reduced federal income tax rates. The Fund also focuses on long-term growth of capital as secondary investment objective. The Fund expects to invest at least 80% of its net assets in the equity securities of domestic and foreign corporations that pay dividends. The Fund expects to invest in securities of both the U.S. and non - U.S. issuers. Investments will include primarily common stocks, although the Fund may, from time to time, also invest in real estate investment trusts, preferred stocks, exchange traded funds and securities convertible into exchangeable for common stocks, such as convertible debt.The Fund will attempt to provide high current dividend income and growth of capital using strategies focused on Dividend Capture, Value and Growth.

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News, Commentary & Events

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  • CEF Weekly Update

    BY Sumit Desai, CFA, Morningstar - 01/28/2014

    It's cold in Chicago, but the closed-end fund world is always hot.

  • CEF Weekly Update

    BY Sumit Desai, CFA, Morningstar - 01/07/2014

    A review of recent news across the closed-end fund world.

Analyst Opinions

Analyst Ratings

LAST CHANGE
Firm Name As of Date Action Rating Report
Morningstar, Inc.* 07/31/2013 Upgrade 2 out of 52 out of 52 out of 52 out of 52 out of 5
Overall - 19 Large Growth funds rated
--
More Analyst Opinions

Key Statistics

Compare

AGD
ALPINE GLOBAL DYNAMIC DIVIDEND FUND NEW
Asset Class Median
Market Capitalization
AS OF 01/31/2014
139.3M 251.4M
Volume (10-Day Avg)
AS OF 04/23/2014
51.8K 39.6M
YTD Market Price Total Return
AS OF 03/31/2014
+0.06% +0.81%
1 Month Market Price Total Return
AS OF 03/31/2014
+1.26% +1.70%
1 Year Market Price Total Return
AS OF 03/31/2014
+12.39% +5.92%
1 Year NAV Total Return
AS OF 03/31/2014
+14.46% +10.22%
3 Year Annualized Market Price Total Return
AS OF 03/31/2014
-2.99% +5.92%
Beta (Market Price 1 Yr)
AS OF 03/31/2014
0.86 0.88
Annual Turnover Ratio
AS OF 10/31/2013
224% 52.00%
Total Expense Ratio (Reported)
AS OF 10/31/2013
1.47% 1.44%
Total Expense Ratio (Adjusted)
AS OF 10/31/2013
1.45% 1.06%
Compare to Other CEFs

Performance

Premium / Discount to NAV^ as of 03/31/2014

Premium Chart
Date Average
03/2014 -11.42%
02/2014 -12.18%
01/2014 -12.20%
12/2013 -9.89%
11/2013 -9.17%
10/2013 -9.95%
09/2013 -10.86%
08/2013 -9.78%
07/2013 -10.59%
06/2013 -9.45%
05/2013 -9.60%
04/2013 -9.87%
Quarter-End Average Annual Total ReturnsAS OF 03/31/2014
NAV Return Market Return
1 Year +14.46% +12.39%
3 Year +1.81% -2.99%
5 Year +13.73% +8.71%
10 Year -- --
Life +8.13% -4.10%
Life as of inception date: 07/26/2006       Gross Expense Ratio: 1.27

The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted.

More about Performance & Risk

Portfolio Composition

Reported by Fund Sponsor

Top 10 HoldingsAs of 01/31/2014

Vodafone Group PLC ADR 2.37%
RHHVF Roche Holding AG 1.58%
AAPL Apple Inc 1.58%
AVGO Avago Technologies Ltd 1.55%
RRD R.R. Donnelley & Sons Company 1.54%
QCOM Qualcomm, Inc. 1.52%
CMCSA Comcast Corp Class A 1.5%
NVS Novartis AG ADR 1.5%
NSRGF Nestle SA 1.48%
American Homes 4 Rent 1.46%
Assets in Top 10 Holdings16.09%
More about Portfolio Composition
*The Overall Morningstar RatingTM for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and ten-year (if applicable) Morningstar Rating metrics. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a funds monthly performance (including the effects of sales charges, loads and redemption fees, if applicable), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.)

The performance data shown represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. Distributions are not guaranteed and the amount of distributions will vary depending on a number of factors. Market prices and investment return will vary, therefore you may have a gain or loss when you sell your shares. Click on the "Performance & Risk" link to view quarter-end performance. All performance data is for the common shares of the fund. Total distribution rate (at market or NAV) may include unknown combinations of income, capital gains and return of capital.

Cumulative total returns are reported as of the period indicated. Life of fund figures are reported as of the commencement date to the period indicated.

^Premium/Discount to NAV represents the percentage by which the funds market price exceeds or is less than net asset value (NAV). Shares of closed-end funds frequently trade at a market price that is a discount to their NAV.

Top holdings are as of the date indicated and may not be representative of the funds current or future investments.

News, commentary and events are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.

Any data, charts and other information provided on this page are intended to help self-directed investors evaluate closed end funds. Criteria and inputs entered, including the choice to make closed end fund comparisons, are at the sole discretion of the user and are solely for the convenience of the user. Analyst opinions, ratings and reports are provided by third-parties unaffiliated with Fidelity. All information supplied or obtained from this page is for informational purposes only and should not be considered investment advice or guidance, an offer of or a solicitation of an offer to buy or sell a particular security, or a recommendation or endorsement by Fidelity of any security or investment strategy. Fidelity does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating closed end funds. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use. Determine which securities are right for you based on your investment objectives, risk tolerance, financial situation and other individual factors and re-evaluate them on a periodic basis.

© 2011 Morningstar, Inc. All rights reserved. The Morningstar information contained herein (1) is proprietary to Morningstar or its affiliates; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Before investing in any fund, you should consider its investment objective, risks, charges and expenses. Contact Fidelity for the most recent shareholder report for this information. Read it carefully. Please also review information provided by the fund on its web site.