Tortoise MLP Fund, Inc. (NYSE: NTG)
Company Overview
Tortoise MLP Fund, Inc. (NYSE: NTG) is a non-diversified, closed-end management investment company that seeks to obtain a high level of total return with an emphasis on current distributions paid to stockholders. NTG intends to focus primarily in midstream energy infrastructure master limited partnerships (MLPs) that engage in the business of transporting, gathering and processing and storing natural gas and natural gas liquids infrastructure assets.
NTG at a Glance [ top ]
| Description (as of 01/31/2012) | Detail |
|---|---|
| Total Assets | $1,689.5mm |
| Total Net Assets | $1,001.7mm |
| YTD Total Return (based on market value) (1) | 2.64% |
| Turnover Rate | 19.57% |
| Management Fee (2) | 0.95% |
| Most recent distribution paid – 4th qtr 2011 (3) | $0.4125 |
| Distributions paid trailing four quarters | $1.6375 |
| Cusip # | 89148B101 |
| Inception Date | July 30, 2010 |
Investment Policies [ top ]
- Under normal circumstances, we will invest at least 80% of our total assets in equity securities of MLPs in the energy infrastructure sector, with at least 70% of our total assets in equity securities of natural gas infrastructure MLPs. For purposes of these policies, we consider investments in MLPs to include investments in affiliates of MLPs.
- We may invest up to 50% of our total assets in restricted securities, primarily through direct investments in securities of listed companies. We will not invest in privately held companies.
- We will not invest more than 10% of our total assets in any single issuer.
- We will not engage in short sales.
Top 10 Holdings [ top ]
| Holdings (as of 01/31/2012) | Ticker | % of Total Assets |
|---|---|---|
| Williams Partners L.P. | WPZ | 8.5% |
| Energy Transfer Partners, L.P. | ETP | 8.5% |
| Enterprise Products Partners L.P. | EPD | 8.3% |
| El Paso Pipeline Partners, L.P. | EPB | 7.7% |
| Regency Energy Partners LP | RGP | 6.9% |
| Boardwalk Pipeline Partners, LP | BWP | 5.7% |
| Spectra Energy Partners, LP | SEP | 5.1% |
| ONEOK Partners, L.P. | OKS | 5.1% |
| Kinder Morgan Management, LLC | KMR | 3.7% |
| DCP MIdstream Parterns, LP | DPM | 3.6% |
| Top 10 Holdings as a % of Investment Securities | 63.1% | |
| Total Assets | $1,706.8mm | |
 Download Complete Portfolio Listing as of 11-30-2011 |
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Sector Allocation [ top ]
| Sectors (as of 11/30/2011) | % of Total Investment Portfolio |
|---|---|
| Natural Gas/Natural Gas Liquids Pipelines | 59.5% |
| Natural Gas Gathering/Processing | 21.3% |
| Crude/Refined Products Pipelines | 17.2% |
| Propane Distribution | 2.0% |
Distribution at a Glance [ top ]
| Most Recent Distribution | Detail |
|---|---|
| Ex-Dividend Date | 11/18/11 |
| Record Date | 11/22/11 |
| Payable Date | 11/30/11 |
| Amount Per Share (4) | $0.4125 |
Footnotes [ top ]
- Not annualized. Source: Bloomberg. Assumes reinvestment of distirbutions. [ back ]
- Annual rate applied to the fund's average monthly total assets (including any assets attributaable to leverage but excluding any net deferred tax asset) less the sum of accrued liabilities (other than net deferred tax liability, debt entered into for purposes of leverage and the aggregate liquidation preference of outstanding preferred stock) ("Managed Assets"). The Adviser has agreed to waive an amount equal to 0.20 percent of average monthly managed assets from July 28, 2011 through Dec. 31, 2012, with further reductions in the fee waiver of 0.05 percent of average monthly managed assets per calendar year through 2015. [ back ]
- A portion of this distribution is expected to be treated as return of capital for income tax purposes, although the ultimate characterization will not be made until determination of our earnings and profits after our year-end. [ back ]
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Past Performance: Past performance is no guarantee of future results. Total return and market value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance is for the stated time period only. Due to market volatility, current performance may be lower or higher than the figures shown.
Shares of closed-end funds frequently trade at a market price that is below their net asset value. Leverage creates risks which may adversely affect return, including the likelihood of greater volatility of net asset value and market price of common shares; and fluctuations in distribution rates on any preferred shares.
This data is provided for information only and is not intended for trading purposes. Closed-end funds, unlike open-end funds, are not continuously offered. After the initial public offering, shares are sold on the open market through a stock exchange. You should consider the investment objective, risks, charges and expenses carefully before investing. For this and other important information, please refer to the most recent closed-end fund prospectus supplement and its accompanying prospectus and read it carefully before investing.
For additional information call Tortoise Capital Advisors, L.L.C., the fund adviser, at (866) 362-9331.