Tortoise Capital Advisors, LLC Announces Launch of Tortoise MLP Index
28 Januar 2010 - 3:59PM
Business Wire
Tortoise Capital Advisors, LLC, today announced it has launched
the Tortoise MLP Index, a float-adjusted, capitalization weighted
index of energy master limited partnerships (MLPs). The Tortoise
MLP Index is comprised of publicly-traded companies organized in
the form of limited partnerships or limited liability companies
engaged in the transportation, production, processing, and/or
storage of energy commodities.
The merits of investing in U.S. oil and gas infrastructure MLP
companies within the infrastructure asset class are becoming more
attractive to both retail investors and large institutional
investors. These companies operate networks of interconnected
pipeline and storage assets allowing for the movement of vital
energy commodities across vast distances from where they are
produced or refined to the consumer. The reliability of these
networks is essential to the functioning of daily economic
activity, and the assets are expected to continue to generate
revenue for many decades.
“The Tortoise MLP Index broadens the longest running
institutional index which we developed with our former affiliate,
Atlantic Asset Management, in 2003,” said Tortoise Capital
Advisors’ Managing Director, Zachary Hamel. “Our new index makes
energy infrastructure performance analysis available to a broader
base of Tortoise investors.”
“We believe the Tortoise MLP Index provides a comprehensive view
of the energy MLP universe, with an important distinction,” added
Mr. Hamel. “Our index includes all energy subsectors and general
partners, and is the only MLP Index with a 10 percent cap on any
MLP constituent, which in our view reflects a criterion commonly
used by a significant segment of our investor base.”
“We intend to use the Tortoise MLP Index as we have concluded
that it is the most meaningful MLP index for our performance
analysis and comparison purposes,” said Michael Finnegan, Chief
Investment Officer with Principal Management Corp. “With its broad
coverage and cap on issuer concentrations, it most closely reflects
our investment style.”
The Tortoise MLP Index is calculated by S&P Custom Indices,
a service of Standard & Poor’s. The Index has a base level of
100 as of its base date of Dec. 31, 1999, is rebalanced quarterly
and is independently calculated on both a price-return and a
total-return basis. The total-return Index level is calculated at
the end of each trading day and is available under the ticker
“TMLPT.” The real-time index level for the price-return version of
the index is available from major market data providers, including
Bloomberg and Reuters, under the ticker “TMLP.”
Tortoise MLP Index performance and methodology information is
available at www.tortoiseadvisors.com/tortoise-mlp-index.cfm.
About Tortoise Capital Advisors, LLC
Tortoise is an investment manager specializing in listed energy
infrastructure, such as pipeline and power companies. As of Dec.
31, 2009, Tortoise had approximately $2.8 billion of assets under
management in five NYSE-listed investment companies and private
accounts. For more information, visit our Web site at
www.tortoiseadvisors.com.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction.
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