The Tortoise MLP & Energy Infrastructure Fund invests in securities across the capital structure of energy infrastructure companies.

Fund Stats as of 9/18/2020:

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NAV

$4.98

NAV Change

$-0.02

Overall Morningstar Rating

Tortoise MLP & Energy Infrastructure Fund (MLPPX) 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

8.90%

30-Day SEC Yield

7.17%

CUSIP

56167N498

Minimum Investment

$5,000,000

Max Front-End Sales Load

None

Max Deferred Sales Load

None

MLPPX

The Tortoise MLP & Energy Infrastructure 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
  • Higher minimum investment and lower fees

Fund Details

As of 8/31/2020

Total Assets

$44.9 million

Investment Objective

Current income

Structure

Regulated Investment Company (RIC)

Fiscal Year End

November 30

Portfolio

as of 8/31/2020

Top 10 Holdings

As of 8/31/2020
Company % of Total
The Williams Companies, Inc.
5.9%
NextEra Energy Partners, LP
4.9%
MPLX LP
4.9%
TC Energy Corporation
4.7%
Enterprise Products Partners L.P.
4.5%
Company % of Total
Enbridge, Inc.
4.5%
Energy Transfer LP
4.2%
Magellan Midstream Partners, L.P.
4.1%
Cheniere Energy, Inc.
4.0%
ONEOK, Inc.
3.8%

Time Period

  1. 9/9/2010

  1. 9/9/2010

Calendar Year Performance

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 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 may be lower or higher than the performance information quoted.

The performance shown for periods prior to July 18, 2014, was for a privately-offered class of shares of the Fund that no longer exists and was exchanged for the current publicly-offered shares of the open-end mutual Fund.

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).

 

Ticker Ex-Date Record Date Payment Date Amount
MLPPX 12/29/2020 12/28/2020 12/29/2020 TBD
MLPPX 11/24/2020 11/23/2020 11/24/2020 TBD
MLPPX 8/27/2020 8/26/2020 8/27/2020 0.1135
MLPPX 5/21/2020 5/20/2020 5/21/2020 0.11350
MLPPX 2/27/2020 2/26/2020 2/27/2020 0.1376
2020 Total $0.36460

Tax Information 

MLP & Energy Infrastructure 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

  1. Ordinary dividends are taxed at ordinary income tax rates.

  2. 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

  3. Capital gain distributions (long-term) are taxed at the reduced capital gain tax rates.

  4. 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.