Fund Description

The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in master limited partnership (MLP) investments of issuers engaged in transportation, storage, processing, refining, marketing, exploration, production, and mining of minerals and natural resources, and in derivatives and other instruments with similar economic characteristics. It normally invests substantially all net assets in equity securities of a minimum of 40 MLP investments, including LPs or LLCs, MLPs and similar businesses taxed as C corporations, and securities of MLP affiliates, and concentrates in energy sector industries. The adviser performs a detailed fundamental analysis of the underlying businesses owned and operated by potential MLP and energy infrastructure portfolio companies. The adviser will sell investments if it determines that the above-mentioned characteristics have changed materially from its initial analysis, or if it determines an investment is no longer earning a return commensurate with its risk.