Hyperion Strategic Mortgage Income Fund, Inc. Announces Monthly Dividend Of $0.090 Per Share
NEW YORK -- The Board of Directors of the Hyperion Strategic Mortgage Income Fund, Inc. (the “Fund”) (NYSE: HSM) declared a monthly dividend of $0.090 per share, payable on March 29, 2007 to shareholders of record on March 13, 2007. The ex-dividend date is March 9, 2007. Based on the NYSE closing price of $13.53 on March 1, 2007, the Fund’s yield was 7.98%. Based on the net asset value per share of $14.00 on March 1, 2007, the yield of the Trust was 7.71%. As of February 28, 2007, the portfolio’s average duration, as measured on a net assets basis, was 4.5 years; the average duration of total assets was 2.7 years; and leverage equaled 30.0%. One Hundred Three percent of interest rate risk due to leverage is hedged using interest rate swaps and floating rate securities that have a weighted average life of 3.5 years.
Portfolio of Investments as of February 28, 2007
Sector Allocation as a Percentage of Total Assets
Non-Agency Residential Mortgage-Backed Securities (“MBS”) 19.1%
Commercial MBS 28.6%
Agency MBS Pass-throughs 32.6%
Asset-Backed Securities 6.7%
U.S. Treasury and Agency Securities 13.0%
Credit Allocation as a Percentage of Total Assets
U. S. Government / Agency and AAA Rated 47.2%
AA Rated 4.7%
A Rated 8.7%
BBB Rated 21.0%
Below Investment Grade 18.4%
The Fund’s investment advisor, Hyperion Brookfield Asset Management, Inc. (“Hyperion Brookfield”), is a wholly owned subsidiary of Brookfield Asset Management, Inc. (“Brookfield”) (NYSE: BAM). Brookfield is an asset manager primarily focused on property, power, infrastructure, fixed income and equity. Brookfield and its affiliates manage assets totaling over $50 billion for institutional and retail clients, as well as its own principal investments. As of January 31, 2007, Hyperion Capital managed $20.8 billion in fixed income client assets. Additional information on the Fund’s assets and performance is available by contacting Hyperion Brookfield Shareholder Services at the following:
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.