The Hyperion(R) Strategic Mortgage Income Fund, Inc. Dividend Declaration
Friday November 4, 2:13 pm ET
NEW YORK--(BUSINESS WIRE)--Nov. 4, 2005--The Board of Directors of the Hyperion Strategic Mortgage Income Fund, Inc. (the "Fund") (NYSE: HSM - News) declared a monthly dividend of $0.090 per share, payable on November 25, 2005 to shareholders of record on November 15, 2005. The ex-dividend date is November 10, 2005. Based on the NYSE closing price of $12.699 on November 3, 2005, the Fund's yield was 8.50%. Based on the net asset value per share of $14.04 on November 3, 2005, the yield of the Trust was 7.69%. As of October 31, 2005, the portfolio's average duration, as measured on a net assets basis, was 3.4 years; the average duration of total assets was 2.3 years; and leverage equaled 32.4%. One Hundred Seven 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 4.9 years.
Portfolio of Investments as of October 31, 2005 Sector
Allocation as a Percentage of Total Assets
Non-Agency Residential Mortgage-Backed Securities ("MBS") 21.7%
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Commercial MBS 11.2%
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Agency MBS Pass-throughs 38.2%
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Asset-Backed Securities 15.7%
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U.S. Treasury and Agency Securities 13.2%
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Credit Allocation as a Percentage of Total Assets
U. S. Government / Agency and AAA Rated 54.1%
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AA Rated 1.1%
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A Rated 8.2%
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BBB Rated 17.1%
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Below Investment Grade 19.5%
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The Fund's investment advisor, Hyperion Capital Management, Inc. ("Hyperion Capital"), is a leading fixed income manager. As of September 30, 2005 Hyperion Capital, with its affiliate, managed $18.1 billion in client assets. Additional information on the Fund's assets and performance is available by contacting Hyperion Capital Shareholder Services at the following: |
