The Tortoise MLP & Energy Income Fund invests in securities across the capital structure of energy infrastructure companies.
Fund Stats as of 7/10/2020:
NAV
$5.03
NAV Change
$0.03
Overall Morningstar Rating
Tortoise MLP & Energy Income Fund (INFIX) received a Four-Star Overall Morningstar Rating™ among 84 Energy Limited Partnership Funds (based on a weighted average of the fund's three-, five-, and ten-year risk-adjusted return measure, if applicable) as of 6/30/2020.
Investment Objective
Current income
Distribution Rate
14.39%
30-Day SEC Yield
12.63%
CUSIP
56167N522
Minimum Investment
$1,000,000.00
Redemption Fee
None
Max Front-End Sales Load
None
Max Deferred Sales Load
None
The Tortoise MLP & Energy Income Fund invests in securities across the capital structure of energy infrastructure companies; including common equity, preferred equity, bonds, and MLPs. The fund’s goal is to deliver strong risk-adjusted returns, greater liquidity, and lower volatility relative to the Alerian MLP Index over a market cycle. We believe these assets have strong business fundamentals and expanded growth opportunities.
The Fund is designed to provide:
- Access to an increased opportunity set by investing across the capital structure of energy infrastructure companies
- Seeks a high level of current income
- Ability to opportunistically shift across the capital structure as market conditions and valuations change
- Efficient tax flow-through structure
- One 1099 (no K-1s)
- No unrelated business taxable income (UBTI)
- IRA and tax-exempt appropriate
Fund Details
As of 5/31/2020
Total Assets
$439.3 million
Investment Objective
Current income
Structure
Regulated Investment Company (RIC)
Fiscal Year End
November 30
Portfolio
as of 6/30/2020
Top 10 Holdings
| Company | % of Total |
|---|---|
The Williams Companies, Inc. | 5.2% |
Cheniere Energy Inc. | 4.7% |
ONEOK, Inc. | 4.6% |
Enterprise Products Partners L.P. | 4.1% |
NextEra Energy Partners, LP | 4.0% |
| Company | % of Total |
|---|---|
Kinder Morgan Inc. | 4.0% |
Plains GP Holdings, L.P. | 3.9% |
Enbridge Inc. | 3.9% |
TC Energy Corp. | 3.8% |
Magellan Midstream Partners, L.P. | 3.8% |
Total 42.0%
Holdings are subject to change. The Fund may have considerable cash balances for temporary periods and the potential benefit to the Fund of any market upswing during this time may be reduced adversely affecting the Fund’s performance.
| Ticker | Class/Name |
Total Return QTD Calendar YTD 1 Year 3 Year 5 year Since Inception 1 |
|---|---|---|
| INFIX | Institutional |
34.09% -24.43% -24.45% -9.14% -9.09% 0.27% |
| INFRX | A Class (excluding load) |
34.42% -24.44% -24.55% -9.31% -9.27% 0.05% |
| INFRX | A Class (maximum load) |
27.15% -28.64% -28.74% -11.02% -10.29% -0.54% |
| INFFX | C Class (excluding CDSC) |
34.12% -24.73% -25.12% -9.99% -9.97% -0.63% |
| INFFX | C Class (including CDSC) |
33.12% -25.46% -25.81% -9.99% -9.97% -0.63% |
| AMZX | Alerian MLP Index |
50.18% -35.71% -41.43% -16.79% -12.85% -3.31% |
| Ticker | Class/Name |
Total Return Calendar YTD 1 Year 3 Year 5 year Since Inception 2 |
Expense Ratio Gross |
|---|---|---|---|
| INFIX | Institutional |
-24.43% -24.45% -9.14% -9.09% 0.27% |
1.16% |
| INFRX | A Class (excluding load) |
-24.44% -24.55% -9.31% -9.27% 0.05% |
1.41% |
| INFRX | A Class (maximum load) |
-28.64% -28.74% -11.02% -10.29% -0.54% |
1.41% |
| INFFX | C Class (excluding CDSC) |
-24.73% -25.12% -9.99% -9.97% -0.63% |
-2.70% |
| INFFX | C Class (including CDSC) |
-25.46% -25.81% -9.99% -9.97% -0.63% |
2.16% |
| AMZX | Alerian MLP Index |
-35.71% -41.43% -16.79% -12.85% -3.31% |
Calendar Year Performance
| Ticker | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|
| INFIX | 15.90% | -14.61% | -5.60% | 35.27% | -35.77% | 12.70% | 19.29% | 6.28% | 15.64% |
| AMZX | 6.56% | -12.42% | -6.52% | 18.31% | -32.59% | 4.80% | 27.58% | 4.80% | 13.88% |
Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted.
Performance data shown reflecting the A Class (maximum load) reflects a sales charge of 5.50%. Performance data shown “excluding load” does not reflect the deduction of the maximum sales load.
Performance data shown for the C Class (including CDSC) reflects a contingent deferred sales charge (CDSC) of 1% for the first 12 months of investment. Performance data shown “excluding CDSC” does not reflect the deduction of the CDSC. If reflected, the load and the CDSC would reduce the performance quoted.
Investment performance reflects fee waivers in effect. In the absence of such waivers, total return would be reduced.
Period from fund inception (12/27/2010) through 12/31/2019. The Institutional Share commenced operations on 12/27/2010, A Class Shares commenced operations on 5/18/2011 and C Class Shares commenced operations on 4/2/2012. Performance shown prior to inception of the A and C Class Shares is based on the performance of the Institutional Class Share, adjusted for the higher expenses applicable to A and C Class Shares.
Period from fund inception (12/27/2010) through 2/29/2020. The Institutional Share commenced operations on 12/27/2010, A Class Shares commenced operations on 5/18/2011 and C Class Shares commenced operations on 4/2/2012. Performance shown prior to inception of the A and C Class Shares is based on the performance of the Institutional Class Share, adjusted for the higher expenses applicable to A and C Class Shares.
Note: For periods over one year, performance reflected is for the average annual returns.
The Alerian MLP Index is a leading gauge of energy infrastructure Master Limited Partnerships (MLPs). The capped, float-adjusted, capitalization-weighted index, whose constituents earn the majority of their cash flow from midstream activities involving energy commodities, is disseminated real-time on a price-return basis (AMZ) and on a total-return basis (AMZX).
Distribution Details
See complete history Hide complete history| Ticker | Ex-Date | Record Date | Payment Date | Amount | |||||
|---|---|---|---|---|---|---|---|---|---|
| INFIX | 12/29/2020 | 12/28/2020 | 12/29/2020 | TBD | |||||
| INFIX | 11/24/2020 | 11/23/2020 | 11/24/2020 | TBD | |||||
| INFIX | 8/27/2020 | 8/26/2020 | 8/27/2020 | TBD | |||||
| INFIX | 5/21/2020 | 5/20/2020 | 5/21/2020 | 0.11720 | |||||
| INFIX | 2/27/2020 | 2/26/2020 | 2/27/2020 | 0.14210 | |||||
| 2020 Total | $0.25930 | ||||||||
| 2020 Total $0.25930 | |||||||||
| INFIX | 12/27/2019 | 12/26/2019 | 12/27/2019 | 0.00215 | |||||
| INFIX | 11/27/2019 | 11/26/2019 | 11/27/2019 | 0.1421 | |||||
| INFIX | 8/29/2019 | 08/28/2019 | 08/29/2019 | 0.1776 | |||||
| INFIX | 5/30/2019 | 5/29/2019 | 5/30/2019 | 0.1776 | |||||
| INFIX | 2/27/2019 | 2/26/2019 | 2/27/2019 | 0.1776 | |||||
| 2019 Total | $0.67705 | ||||||||
| 2019 Total $0.67705 | |||||||||
| INFIX | 12/28/2018 | 12/27/2018 | 12/28/2018 | 0.01187 | |||||
| INFIX | 11/29/2018 | 11/28/2018 | 11/29/2018 | 0.1776 | |||||
| INFIX | 8/30/2018 | 8/29/2018 | 8/30/2018 | 0.1776 | |||||
| INFIX | 5/30/2018 | 5/29/2018 | 5/30/2018 | 0.1776 | |||||
| INFIX | 2/27/2018 | 2/26/2018 | 2/27/2018 | 0.1776 | |||||
| 2018 Total | $0.72227 | ||||||||
| 2018 Total $0.72227 | |||||||||
| INFIX | 12/28/2017 | 12/27/2017 | 12/28/2017 | 0.0069 | |||||
| INFIX | 11/29/2017 | 11/28/2017 | 11/29/2017 | 0.1776 | |||||
| INFIX | 8/30/2017 | 8/29/2017 | 8/30/2017 | 0.1776 | |||||
| INFIX | 5/30/2017 | 5/26/2017 | 5/30/2017 | 0.1776 | |||||
| INFIX | 2/27/2017 | 2/24/2017 | 2/27/2017 | 0.1776 | |||||
| 2017 Total | $0.7173 | ||||||||
| 2017 Total $0.71730 | |||||||||
| INFIX | 12/29/2016 | 12/28/2016 | 12/29/2016 | 0.00359 | |||||
| INFIX | 11/29/2016 | 11/28/2016 | 11/29/2016 | 0.1776 | |||||
| INFIX | 8/30/2016 | 8/29/2016 | 8/30/2016 | 0.1776 | |||||
| INFIX | 5/27/2016 | 5/26/2016 | 5/27/2016 | 0.1776 | |||||
| INFIX | 2/26/2016 | 2/25/2016 | 2/26/2016 | 0.1776 | |||||
| 2016 Total | $0.71399 | ||||||||
| 2016 Total $0.71399 | |||||||||
| INFIX | 12/30/2015 | 12/29/2015 | 12/30/2015 | 0.02624 | |||||
| INFIX | 11/24/2015 | 11/23/2015 | 11/24/2015 | 0.1763 | |||||
| INFIX | 8/28/2015 | 8/27/2015 | 8/28/2015 | 0.175 | |||||
| INFIX | 5/28/2015 | 5/27/2015 | 5/28/2015 | 0.1737 | |||||
| INFIX | 2/26/2015 | 2/25/2015 | 2/26/2015 | 0.1724 | |||||
| 2015 Total | $0.72364 | ||||||||
| 2015 Total $0.72364 | |||||||||
| INFIX | 12/30/2014 | 12/29/2014 | 12/30/2014 | 0.0163 | |||||
| INFIX | 11/25/2014 | 11/24/2014 | 11/25/2014 | 0.3701 | |||||
| INFIX | 8/28/2014 | 8/27/2014 | 8/28/2014 | 0.1698 | |||||
| INFIX | 5/29/2014 | 5/28/2014 | 5/29/2014 | 0.1685 | |||||
| INFIX | 2/27/2014 | 2/26/2014 | 2/27/2014 | 0.1672 | |||||
| 2014 Total | $0.8919 | ||||||||
| 2014 Total $0.89190 | |||||||||
| INFIX | 12/27/2013 | 12/26/2013 | 12/27/2013 | 0.0166 | |||||
| INFIX | 11/26/2013 | 11/25/2013 | 11/26/2013 | 0.166 | |||||
| INFIX | 8/29/2013 | 8/28/2013 | 8/29/2013 | 0.1648 | |||||
| INFIX | 5/30/2013 | 5/29/2013 | 5/30/2013 | 0.1636 | |||||
| INFIX | 2/27/2013 | 2/26/2013 | 2/27/2013 | 0.1624 | |||||
| 2013 Total | $0.6734 | ||||||||
| 2013 Total $0.67340 | |||||||||
| INFIX | 12/28/2012 | 12/27/2012 | 12/28/2012 | 0.0128 | |||||
| INFIX | 11/29/2012 | 11/28/2012 | 11/29/2012 | 0.1612 | |||||
| INFIX | 8/30/2012 | 8/29/2012 | 8/30/2012 | 0.16 | |||||
| INFIX | 5/30/2012 | 5/29/2012 | 5/30/2012 | 0.1588 | |||||
| INFIX | 2/28/2012 | 2/27/2012 | 2/28/2012 | 0.1504 | |||||
| 2012 Total | $0.6432 | ||||||||
| 2012 Total $0.64320 | |||||||||
| INFIX | 11/30/2011 | 11/29/2011 | 11/30/2011 | 0.15 | |||||
| INFIX | 8/31/2011 | 8/30/2011 | 8/31/2011 | 0.15 | |||||
| INFIX | 5/31/2011 | 5/27/2011 | 5/31/2011 | 0.15 | |||||
| INFIX | 2/28/2011 | 2/25/2011 | 2/28/2011 | 0.1 | |||||
| 2011 Total | $0.55 | ||||||||
| 2011 Total $0.55000 | |||||||||
Available Forms
Section 19(a) Notifications
Tortoise MLP & Energy Income Fund INFIX
Energy
Tax Information
MLP & Energy Income Fund
Find distributions and other tax-related resources for Tortoise mutual funds.
Tax forms, publications and instructions are available for download from the IRS Web site.
Annual 1099-DIV
| Ticker | Share Class | CUSIP | Total Distributions Per Share | Total Ordinary Dividends Box 1a 1 | Qualified Dividends Box 1b 2 | Capital Gain Distributions Box 2a 3 | Nondividend Distributions Box 3 4 |
|---|---|---|---|---|---|---|---|
| INFIX | Institutional | 56167N522 | $0.67704758 | $0.00214758 | $0.00214758 | $0.00000000 | $0.67490000 |
| INFRX | Investor | 56167N530 | $0.66593714 | $0.00036126 | $0.00036126 | $0.00000000 | $0.66557588 |
| INFFX | C-class | 56167N514 | $0.61014130 | $0.00000000 | $0.00000000 | $0.00000000 | $0.61014130 |
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Ordinary dividends are taxed at ordinary income tax rates.
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The portion of ordinary dividends characterized as qualified dividend income will be taxable at the reduced capital gain tax rates if the stockholder meets the holding-period requirements.
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Capital gain distributions (long-term) are taxed at the capital gain tax rates.
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Nondividend distributions are nontaxable and considered return of capital.
Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.
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