The fund seeks maximum total return by investing in small-size companies across any size in the United States.

The investment process is designed to highlight companies in the benchmark index that are focused in the midstream investments sector.

The investment team considers midstream investments to include companies engaged in the energy infrastructure industry and midstream activities, such as the treatment, gathering, co More

The fund seeks maximum total return by investing in small-size companies across any size in the United States.

The investment process is designed to highlight companies in the benchmark index that are focused in the midstream investments sector.

The investment team considers midstream investments to include companies engaged in the energy infrastructure industry and midstream activities, such as the treatment, gathering, compression, processing, transportation, transmission, fractionation, storage and terminalling of natural gas, natural gas liquids, crude oil and refined products.

Other energy infrastructure companies include electrical transmission companies and utilities, and companies engaged in owning, storing and transporting alternative energy sources, such as renewable.

Next, the research team utilizes a proprietary multifactor model to focus on companies with superior risk adjusted returns, and consistent and growing cash distributions.

The team also focuses on a company’s quantitative factors such as cash flow, yield and relative valuation. As part of its research process, the research team evaluates a company’s asset quality, considering factors such as contract structure, operating risk, competitive environment and growth potential.

Additionally, the team also assesses a company’s management team, business model, and attributes such as liquidity, equity overhang and float.

Then the team ranks the companies based on the sustainability of their cash flows, relative market valuation and prospects for growth.

Then the manager constructs a focused portfolio from a list of companies favored by the research team and allocates capital based on its conviction level.

The portfolio holds approximately 20 to 40 high quality midstream investments

The fund invests more than 25% of its net assets in securities of companies in the energy infrastructure industry and the energy industry.

In addition, the fund may invest up to 20% of its net assets in non-midstream investments, including debt securities rated below investment grade.

The fund has the flexibility to invest up to 15% of net assets in illiquid securities.

The fund is non-diversified which means it may focus its investments in a limited number of issuers.