NEW YORK, NY—June 6, 2008— The Board of Directors of the Hyperion Brookfield Strategic Mortgage Income Fund, Inc. (the “Fund”) (NYSE: HSM) declared a monthly dividend of $0.090 per share, payable on June 26, 2008 to stockholders of record on June 17, 2008. The ex-dividend date is June 13, 2008. Based on the NYSE closing price of $9.15 on June 5, 2008, the Fund’s yield was 11.80%. Based on the net asset value per share of $8.88 on May 30, 2008, the Fund’s yield was 12.16%. As of May 30, 2008, the portfolio’s average duration, as measured on a net asset basis, was 4.2 years.
Portfolio of Investments as of May 30, 2008
Sector Allocation as a Percentage of Total Assets
| Non-Agency Residential Mortgage-Backed Securities ("MBS") |
16.9% |
| Commercial MBS |
26.5% |
| Agency MBS Pass-throughs |
41.0% |
| Asset-Backed Securities |
1.8% |
| U.S. Treasury Securities |
13.5% |
| Other |
0.3% |
Credit Allocation as a Percentage of Total Assets
| U.S. Government / Agency and AAA Rated |
62.7% |
| AA Rated |
3.4% |
| A Rated |
4.2% |
| BBB Rated |
21.3% |
| Below Investment Grade |
8.4% |
The Hyperion Brookfield Strategic Mortgage Income Fund, Inc. is managed by Hyperion Brookfield Asset Management, Inc, a registered investment advisor located in New York City. The firm was founded in 1989 to provide relative value driven fixed income investment strategies, such as core fixed income, high yield, and specialized MBS. Hyperion Brookfield manages in excess of $22 billion for a client base including pension funds, financial institutions, mutual funds, insurance companies, REITs and foundations. Hyperion Brookfield is a subsidiary of Brookfield Asset Management Inc, a global asset manager focused on property, power and other infrastructure assets with approximately US $95 billion of assets under management.
For more information, please contact:
The Hyperion Brookfield Strategic Mortgage Income Fund, Inc.
Three World Financial Center 200 Vesey Street, 10th Floor
New York, NY 10281-1010
1-800 HYPERION