Tortoise Capital Advisors, an investment manager specialising in listed energy investing, has launched the Tortoise North American Energy Infrastructure Fund, a UCITS fund domiciled in Luxembourg.
The fund invests in North American pipeline companies, including master limited partnership (MLP)-related securities.
“The fund focuses on the large and diverse North American pipeline universe, providing access to the sizeable pipeline network of one of the world’s largest producers and consumers of energy,” says Brent Newcomb, a director at Tortoise. “We are pleased to make this strategy accessible to investors outside of the US.”
The strategy for the Tortoise North American Energy Infrastructure Fund is based on Tortoise’s US mutual fund, Tortoise MLP & Pipeline Fund, which was launched in 2011 and invests in MLPs and MLP-related securities.
The UCITS fund offers institutional and retail share classes in three currencies, USD, EUR and CHF. Minimum investment levels for the fund are set at USD2,500 for retail investors and USD1,000,000 for institutional investors.
“We believe the current investment opportunity is particularly attractive given valuations, industry fundamentals and the industry growth trends,” says Tortoise portfolio manager Brian Kessens. “This growth potential starts with energy production, leading to increased energy transportation needs, including exports of low cost energy from the US to the rest of the world.”
