The Tortoise MLP & Energy Income Fund invests in securities across the capital structure of North American midstream energy infrastructure companies.
Fund Stats as of 12/05/2019:
NAV
$6.71
NAV Change
$0.01
Investment Objective
Current income
Overall Morningstar Rating
Distribution Rate
9.91%
30-Day SEC Yield
3.27%
CUSIP
56167N522
Minimum Investment
$2,500.00
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 North American midstream energy infrastructure companies; including MLPs, common equity, preferred equity, and bonds. 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 midstream 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 midstream 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 suitability
Fund Details
As of 10/31/2019
Total Assets
$728.6 million
Investment Objective
Current income
Structure
Regulated Investment Company (RIC)
Fiscal Year End
November 30
Portfolio
as of 10/31/2019
Top 10 Holdings
| Company | % of Total |
|---|---|
Magellan Midstream Partners, L.P. | 5.4% |
Enbridge Inc. | 5.3% |
TC Energy Corporation | 4.9% |
Kinder Morgan, Inc. | 4.9% |
ONEOK, Inc. | 4.7% |
| Company | % of Total |
|---|---|
Enterprise Products Partners L.P. | 4.7% |
PBF Holding Company LLC 7.25% 6/15/25 | 4.7% |
Plains GP Holdings, L.P. | 4.6% |
The Williams Companies, Inc. | 4.5% |
Energy Transfer LP | 4.3% |
Total 48.1%
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 |
Expense Ratio Gross |
|---|---|---|---|
| INFIX | Institutional |
-2.12% 13.49% -4.55% -1.81% -5.77% 3.30% |
1.16% |
| INFRX | A Class (excluding load) |
-2.23% 13.16% -4.80% -2.05% -6.00% 3.06% |
1.41% |
| INFRX | A Class (maximum load) |
-7.66% 6.98% -10.03% -3.87% -7.05% 2.40% |
1.41% |
| INFFX | C Class (excluding CDSC) |
-2.40% 12.65% -5.51% -2.82% -6.72% 2.37% |
2.16% |
| INFFX | C Class (including CDSC) |
-3.36% 11.65% -6.38% -2.82% -6.72% 2.37% |
2.16% |
| AMZX | Alerian MLP Index |
-5.02% 11.08% -8.13% -2.46% -8.65% 1.89% |
-
Institutional Class: 12/27/2010; A Class: 05/18/2011; C Class: 4/2/2012
| Ticker | Class/Name |
Total Return Calendar YTD 1 Year 3 Year 5 year Since Inception 1 |
Expense Ratio Gross |
|---|---|---|---|
| INFIX | Institutional |
8.92% -1.29% -3.35% -5.82% 2.76% |
1.16% |
| INFRX | A Class (excluding load) |
8.62% -0.41% -3.57% -6.04% 1.79% |
1.41% |
| INFRX | A Class (maximum load) |
2.68% -5.89% -5.36% -7.10% 1.12% |
1.41% |
| INFFX | C Class (excluding CDSC) |
7.94% -1.30% -4.32% -6.77% -0.05% |
2.16% |
| INFFX | C Class (including CDSC) |
6.94% -2.20% -4.32% -6.77% -0.05% |
2.16% |
| AMZX | Alerian MLP Index |
-1.82% -11.00% -5.68% -9.56% 0.45% |
-
Institutional Class: 12/27/2010; A Class: 05/18/2011; C Class: 4/2/2012
Calendar Year Performance
| Ticker | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|
| INFIX | -14.61% | -5.60% | 35.27% | -35.77% | 12.70% | 19.29% | 6.28% | 15.64% |
| AMZX | -12.42% | -6.52% | 18.31% | -32.59% | 4.80% | 27.58% | 4.80% | 13.88% |
Performance for periods over one year is annualized. The performance data quoted here represents past performance. Past performance is no guarantee of future results. Investment return and principal value will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance information quoted.
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 | 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 | $0.6749 | ||||||||
| 2019 Total $0.6749 | |||||||||
| 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 $0.7173 | |||||||||
| 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 $0.8919 | |||||||||
| 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 $0.6734 | |||||||||
| 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 $0.6432 | |||||||||
| 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 $0.55 | |||||||||
Energy