Alpine Management & Research of New York has started the Alpine Realty Income and Growth Fund, its third focused real estate mutual fund.

The fund invests primarily in dividend-paying equity securities, including REITs, and debt securities of companies engaged in the real estate industry. It will be managed by the firm's principals, Sam Lieber and Marc Halle.

Minimum initial investment for the no-load Class Y shares of the fund is $1,000, with no minimum for subsequent investments and no 12b-1 fee. Class A and B shares are also available for distribution by financial intermediaries and professional advisors.

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