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

Fund Stats as of 12/05/2019:

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NAV

$6.49

NAV Change

$0.01

Investment Objective

Current income

Distribution Rate

10.22%

30-Day SEC Yield

3.26%

CUSIP

461418626

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 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
  • Higher minimum investment and lower fees

Fund Details

As of 10/31/2019

Total Assets

$78.9 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.
5.5%
Enbridge Inc.
5.4%
TC Energy Corporation
5%
Kinder Morgan, Inc.
5%
ONEOK, Inc.
4.8%
Company % of Total
Enterprise Products Partners L.P.
4.8%
Plains GP Holdings, L.P.
4.7%
The Williams Companies, Inc.
4.6%
PBF Holding Company LLC 7.25% 6/15/25
4.5%
Energy Transfer LP
4.4%

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 11/27/2019 11/26/2019 11/27/2019 0.1376
MLPPX 8/28/2019 8/28/2019 8/29/2019 0.1776
MLPPX 5/29/2019 5/29/2019 5/30/2019 0.1776
MLPPX 2/27/2019 2/26/2019 2/27/2019 0.1776
2019 Total $0.6704

Section 19(a) Notifications