The closed-end Alpine Global Dynamic Dividend Fund raised $476 million in its common-share offering and began trading on the
Global Dynamic Dividend will buy stocks ahead of distributions, hold them for the required period and then sell them to put the proceeds into other dividend payers. More than 50% of the fund's dividend income should qualify for the reduced tax rate. Total annual operating expenses on the closed-end fund, including its management fee, are estimated to be less than 1.3%. The Global Dynamic Dividend Fund could have up to about 80% of its assets in international securities.