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Important Update from Cohen & Steers Closed-End Opportunity Fund, Inc.

On July 29, 2026, Cohen & Steers Closed-end Opportunity Fund, Inc. (traded under NYSE: FOF) made a crucial announcement that could reshape its investment landscape. The Fund's Board of Directors has given the green light to significant revisions to the Fund’s investment policy and strategy, set to take effect on October 1, 2026. Through these changes, the Fund aims to adopt a more comprehensive approach to investing, enhancing its long-term sustainability and profitability potential.

New Investment Policy Overview

Starting from the Effective Time, the existing policy, which mandated that at least 80% of the Fund's net assets be allocated to common stocks or related securities, will evolve to allow for broader investment opportunities. The new directive allows the Fund to invest its assets in various Portfolio Funds listed on either U.S. or international securities exchanges. This notable shift introduces flexibility to pursue a diverse array of investments, moving beyond traditional pathways previously defined under older policies.

Portfolio Fund Definition and Investment Scope

In an effort to clarify the focus of their investments, the Fund has revised the definition of 'Portfolio Fund’. It will now characterize a Portfolio Fund as any closed-end pooled investment vehicle that does not offer daily redemption or repurchase rights. This update broadens the potential avenues for investment, allowing for inclusion of funds that may not be registered under the Investment Company Act of 1940. Notably, this change is expected to facilitate investments across a vast spectrum of assets, including commodities, real estate securities, and private equity among others.

Diverse Asset Classes and Investment Strategy

The Fund seeks to align with its newly defined goals by concentrating primarily on closed-end vehicles that engage significantly in equity assets or income-producing securities. The investment manager will select Portfolio Funds based on stringent criteria that ensure robust fundamentals, high current income, discounted share prices relative to net asset values, and strong performance records.

Among the asset classes targeted through Portfolio Funds, one may find:

• - Bank Loans
• - Convertible Securities
• - Commodities
• - High-Yield Municipal Securities
• - Private Equity and Real Estate
• - Utilities and Various Sector Equities

This variety demonstrates the Fund’s commitment to diversifying risk through strategic asset allocation.

Investing in Opportunities

The revised investment strategy also provides the Fund with the flexibility to opportunistically invest in Portfolio Funds when market conditions warrant. This could mean exploiting mispricing relative to comparable funds or capitalizing on specific corporate events that might influence share value favorably.

The management team will also continue to adhere to necessary regulations under the 1940 Act, which impose constraints on the percentage of investment in any one Portfolio Fund, ensuring high accountability and risk management practices. Moreover, by regularly diversifying its holdings and potentially engaging in derivatives trading, the Fund aspires to optimize returns while managing associated risks effectively.

Ensuring Long-Term Growth

Cohen & Steers Closed-end Opportunity Fund focuses on using its updated policy to create additional returns, while still maintaining a conservative risk profile. The investment manager will assess varying factors, including current dividends and potential future earnings, which will serve to fortify its investment decisions.

As the Fund gears up to implement these strategic changes, it remains committed to providing investors with the necessary updates and guidance on performance and strategy moving forward. Interested parties are encouraged to check the Fund's website for more information and remain engaged with the unfolding developments.

In conclusion, Cohen & Steers Closed-end Opportunity Fund, Inc. is positioning itself to navigate the complexities of today's financial landscape with a refreshed strategy that aims to enhance both flexibility and investment potential for its stakeholders.