Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

7822

Tortoise Capital Advisors introduces first open-end mutual fund

RELATED TOPICS​

Tortoise Capital Advisors has introduced Tortoise MLP & Pipeline Fund, its first open-end mutual fund. The fund will invest primarily in equity securities of MLP and pipeline companies that own and operate essential North American energy infrastructure assets, with an investment objective of total return.

“We continue to see a need for substantial growth capital as pipeline and related infrastructure projects are expected to facilitate the transportation of natural gas and oil from new supply areas to growing population destinations across North America,” says Tortoise Senior Advisor, Jeffrey Fulmer. “We believe this creates a compelling investment opportunity in the coming decades.”

The fund is structured as a traditional mutual fund providing daily liquidity at NAV, with flow-through tax treatment and no fund level taxation. Simplified tax reporting is provided to investors through a single 1099. Investor and Institutional Class shares are available under the symbols TORTX and TORIX, respectively.

“We at Tortoise are pleased to launch our first open-end mutual fund,” says Tortoise Senior Managing Director, Kevin Birzer. “We believe the Tortoise MLP & Pipeline Fund’s traditional flow-through structure, combined with its investment focus on essential energy infrastructure pipeline companies, makes it a differentiated and efficient open-end fund.”

Latest News

Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15..
New analysis by London-based Nickel Digital Asset Management reveals 38 listed companies with a combined..
Bloomberg has announced that for the first time, its proprietary Bloomberg Second Measure (BSM) transaction..

Related Articles

Global ESG Investing
On May 15 Florida’s Republican Governor Ron DeSantis signed legislation that furthers his ongoing campaign to oppose the role of climate change and ESG factors in state policymaking...
On May 15 Florida’s Republican Governor Ron DeSantis signed legislation that furthers his ongoing campaign to oppose the role of..
Trends
The trend to buyout among the UK’s smaller defined benefit (DB) schemes continues with a slew of new sub GBP100 million deals announced this month alone...
The trend to buyout among the UK’s smaller defined benefit (DB) schemes continues with a slew of new sub GBP100..
Different flavours
In what is believed to be the first survey of its kind in the UK market, Nedgroup Investments, the investment-led, multi-boutique global asset manager with over USD20 billion under management, recently undertook a survey with 204 UK investment professionals, seeking insights into their perceptions and attitudes towards boutique asset managers...
In what is believed to be the first survey of its kind in the UK market, Nedgroup Investments, the investment-led,..
UK map
UK local government pension schemes (LGPS) are leading the charge on investment in private markets issuing tenders set to be worth billions of pounds in the coming years...
UK local government pension schemes (LGPS) are leading the charge on investment in private markets issuing tenders set to be..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by