The fund seeks total return by investing in companies across any size in the United States.
The investment process is designed to highlight companies in the benchmark index that invest in securities of master limited partnerships and pipeline companies.
Next, the research team focuses on MLPs and pipeline companies that own and operate a network of energy infrastructure asset systems that transport, store, distribute, gather and/or process crude oil, refined petroleum products, natural gas or natural gas liquids.
The team emphasizes companies with yield, growth and quality characteristics having the potential to offer attractive long-term total returns.
In addition, the team relies on in-house proprietary models, as well as research provided by broker-dealers and investment firms. The team considers energy infrastructure companies demonstrating long economic lives, high barriers to entry, total return potential, predictable revenue and stable operating structures, and proven management teams.
Then the manager constructs a portfolio from a list of companies favored by the research team and allocates capital based on its conviction level.
The manager favors traditional pipeline corporations alongside MLPs exhibiting excellent business fundamentals and expanded growth opportunities.
Also, the fund may invest no more than 25% of its net assets in the securities of MLPs and other entities treated as qualified publicly traded partnerships.
The fund is non-diversified, and may invest in LLC common units which represent an ownership interest in the LLC.
