Ann: IOF September 2009 Quarter Distribution , page-6

Actually I'm forced to reluctantly agree magpie - although I wonder who is doing the buying? Might well be Cohen & Steers. Although it looks like, if they follow their own rules, that someone else is having a top up.

Given the info below I think that these guys aren't in it to lose money.

Have a look at their web site and I think you'll find some useful info and what their strategy is for REIT's that they buy into.

Here's an excerpt. Note the 7% maximum security weighting!

Currently they own (as of 10/09/09) 7.05% of IOF

"Cohen & Steers International Real Estate Securities strategy seeks to benefit from national and regional economic growth by investing in REITs and other publicly traded real estate securities in Europe and Asia Pacific. We screen the universe for securities that we believe have the greatest potential for diversification, competitive total return and current income, and select companies with strong market positions, superior management teams and first-tier properties.

Investment Opportunity
The market capitalization of international real estate securities is approximately twice that of the United States, providing ways for investors to diversify their portfolios and participate in the growth of local economies outside the United States. Cohen & Steers International Real Estate strategy takes an active, risk-managed approach that focuses on companies that are leading the securitization of international real estate.

Portfolio characteristics
Typically 55–75 holdings
Investments in Europe and Asia Pacific, with a maximum security weighting of 7%
Portfolios diversified by region, country, currency and property sector.