Offers investors access to pipeline investments via UCITS fund
LUXEMBOURG -- January 04, 2017 (BUSINESS WIRE) -- Tortoise Capital Advisors, the investment manager specialising in listed energy investing, today announced the launch of the Tortoise North American Energy Infrastructure Fund, an Undertaking for Collective Investment in Transferable Securities (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 sizable pipeline network of one of the world‘s largest producers and consumers of energy,” said Brent Newcomb, a Director at Tortoise. “We are pleased to make this strategy accessible to investors outside of the United States.”
The strategy for the Tortoise North American Energy Infrastructure Fund is based on Tortoise‘s U.S. mutual fund, Tortoise MLP & Pipeline Fund (TORTX, TORCX, TORIX), 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 $2,500 for retail investors and $1,000,000 for institutional investors.
“We believe the current investment opportunity is particularly attractive given valuations, industry fundamentals and the industry growth trends,” added 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 United States to the rest of the world.”
Tortoise is a recognized leader in North American energy infrastructure investing, and one of the largest investment managers of U.S. registered energy infrastructure funds. As an industry pioneer, Tortoise formed the first NYSE-listed closed-end fund focusing on MLPs in 2004 and has managed energy infrastructure investments across economic cycles and natural disasters. This fund expands upon Tortoise‘s legacy of leadership and innovation in the sector.
Tortoise Capital Advisors
Tortoise Capital Advisors is an investment manager specializing in listed energy investing. Tortoise is considered a pioneer in managing North American energy funds and accounts for individual and institutional investors, with a focus on listed energy investing. Tortoise products include energy funds, including U.S. publicly traded closed-end funds, mutual funds, private funds as well as separate accounts. Tortoise Capital Advisors is part of the Tortoise Investments family, which had approximately $19.8 billion in assets under advisement through its family of registered advisers as of Nov. 30, 2016. For additional information, please call +1 844 822 4685, email email@example.com or visit www.tortoiseinternational.com.
Safe harbor statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the Fund and Tortoise Capital Advisors believe the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Fund's reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the Fund and Tortoise Capital Advisors do not assume a duty to update any forward-looking statement.
Tortoise North American Energy Infrastructure Fund:
The data and comments are provided solely for subscriber information and have no contractual value. CHF = Swiss Franc. Information on the www.tortoiseinternational.com website is qualified in its entirety by the content of the prospectus, KIID, articles of incorporation, annual and semi-annual reports which can be obtained free of charge here or email firstname.lastname@example.org.
Diversification does not assure a profit or protect against a loss in a declining market.
Investing involves risk. Principal loss is possible. The strategy will be primarily invested in the energy sector and its performance may be more volatile than if it were broadly diversified over industries and sectors. Companies in the energy industry are subject to many risks including, but not limited to, risks associated with owning and/or operating energy infrastructure assets, as well as capital markets, terrorism, natural disasters, climate change, operating, regulatory, environmental, supply and demand, and price volatility risks. The strategy invests in small and mid-cap companies, which involve additional risks such as limited liquidity and greater volatility than larger companies. Such investments may be subject to liquidity risk adversely impacting the strategy‘s ability to sell particular securities at advantageous prices or in a timely manner. Equity securities may fluctuate in response to the activities of an individual company or in response to general market and/or economic conditions, and include the possibility of sudden or prolonged market declines. Variations in the exchange rates between the base currency of the strategy‘s underlying investments and the currencies of the Share classes may adversely affect the strategy‘s performance. The strategy may experience material losses as a result of human error, system and/or process failures, inadequate procedures or controls. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investment in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. The fund is only offered to non-U.S. investors. The fund‘s investment objective, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the fund. Read it carefully before investing.
Tortoise MLP & Pipeline Fund:
Before investing in the fund, investors should consider their investment goals, time horizons and risk tolerance. The fund‘s investment objective, risks, charges and expenses must be considered carefully before investing. The summary and statutory prospectus contains this and other important information about the fund. Copies of the fund‘s prospectus may be obtained by calling 855-TCA-FUND (855-822-3863) or visiting www.tortoiseadvisors.com. Read it carefully before investing. The fund is available to U.S. investors only.
Mutual fund investing involves risk. Principal loss is possible.
Quasar Distributors, LLC, Distributor for the Tortoise MLP & Pipeline Fund.
Ben Jones, +44 20 3755 6577
Pam Kearney, 866-362-9331