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SteelPath MLP & Energy Infrastructure Fund

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Overview

The strategy typically invests in midstream energy infrastructure.

Inception Date
November 6, 2017
Investment Style
MLP - Diversified
Fund Index
Alerian MLP Total Return Index
CUSIP
67629B402
NAV
  • B
(as of 09/19/2018)
$10.42
Total Assets
(as of 08/31/2018)
$12.49 MM
Gross Expense Ratio
(as of 08/31/2018)
1.46%
Net Expense Ratio
(as of 08/31/2018)
1.12%
Performance
Average Annual Total Returns
Cumulative Returns
Capital Gains Distributions
as of 08/31/2018
  • H
as of 06/30/2018
  • H

Sales charges are not applicable to Y & I Share Classes.
Cumulative
1 mo 3 mo ytd as of 2018-06-30
  • D
since inception
SteelPath MLP & Energy Infrastructure Fund (NAV)
0.36% 13.91% -0.31% 3.19%
Alerian MLP Total Return Index
-1.54% 11.80% -0.63% 0.94%
Cumulative
1 mo 3 mo ytd as of 2018-08-31
  • D
since inception
SteelPath MLP & Energy Infrastructure Fund (NAV)
0.00% 4.88% 4.18% 7.84%
Alerian MLP Total Return Index
1.58% 6.59% 7.58% 9.28%
Gross Expense Ratio: 1.46% | Net Expense Ratio: 1.12%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions.  Class Y shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.


Year SteelPath MLP & Energy Infrastructure Fund

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions.  Class Y shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.


Date SteelPath MLP & Energy Infrastructure Fund
11/6/2017 0.00
11/7/2017 1.30
11/8/2017 0.60
11/9/2017 0.50
11/10/2017 0.30
11/11/2017 0.30
11/12/2017 0.30
11/13/2017 -1.30
11/14/2017 -2.60
11/15/2017 -2.70
11/16/2017 -3.00
11/17/2017 -2.90
11/18/2017 -2.90
11/19/2017 -2.90
11/20/2017 -2.60
11/21/2017 -2.90
11/22/2017 -2.00
11/23/2017 -2.00
11/24/2017 -1.80
11/25/2017 -1.80
11/26/2017 -1.80
11/27/2017 -3.00
11/28/2017 -3.30
11/29/2017 -3.90
11/30/2017 -1.20
12/1/2017 -0.10
12/2/2017 -0.10
12/3/2017 -0.10
12/4/2017 -0.20
12/5/2017 -0.50
12/6/2017 -1.60
12/7/2017 -0.60
12/8/2017 -0.40
12/9/2017 -0.40
12/10/2017 -0.40
12/11/2017 0.90
12/12/2017 1.00
12/13/2017 1.40
12/14/2017 1.90
12/15/2017 1.10
12/16/2017 1.10
12/17/2017 1.10
12/18/2017 1.70
12/19/2017 0.60
12/20/2017 0.60
12/21/2017 1.18
12/22/2017 1.78
12/23/2017 1.78
12/24/2017 1.78
12/25/2017 1.78
12/26/2017 2.28
12/27/2017 2.18
12/28/2017 3.18
12/29/2017 3.49
12/30/2017 3.49
12/31/2017 3.49
1/1/2018 3.49
1/2/2018 5.39
1/3/2018 6.59
1/4/2018 7.19
1/5/2018 6.19
1/6/2018 6.19
1/7/2018 6.19
1/8/2018 6.59
1/9/2018 6.49
1/10/2018 6.09
1/11/2018 7.79
1/12/2018 8.39
1/13/2018 8.39
1/14/2018 8.39
1/15/2018 8.39
1/16/2018 7.89
1/17/2018 7.79
1/18/2018 6.69
1/19/2018 6.79
1/20/2018 6.79
1/21/2018 6.79
1/22/2018 8.69
1/23/2018 9.40
1/24/2018 9.00
1/25/2018 7.89
1/26/2018 8.09
1/27/2018 8.09
1/28/2018 8.09
1/29/2018 6.29
1/30/2018 4.39
1/31/2018 4.49
2/1/2018 4.79
2/2/2018 1.78
2/3/2018 1.78
2/4/2018 1.78
2/5/2018 -1.02
2/6/2018 0.78
2/7/2018 0.78
2/8/2018 -2.43
2/9/2018 -3.13
2/10/2018 -3.13
2/11/2018 -3.13
2/12/2018 -0.72
2/13/2018 -0.02
2/14/2018 0.58
2/15/2018 0.98
2/16/2018 -0.42
2/17/2018 -0.42
2/18/2018 -0.42
2/19/2018 -0.42
2/20/2018 -1.02
2/21/2018 -2.43
2/22/2018 -2.93
2/23/2018 -1.42
2/24/2018 -1.42
2/25/2018 -1.42
2/26/2018 -1.62
2/27/2018 -3.13
2/28/2018 -5.33
3/1/2018 -5.13
3/2/2018 -5.23
3/3/2018 -5.23
3/4/2018 -5.23
3/5/2018 -4.73
3/6/2018 -4.63
3/7/2018 -5.73
3/8/2018 -5.93
3/9/2018 -4.43
3/10/2018 -4.43
3/11/2018 -4.43
3/12/2018 -3.13
3/13/2018 -3.53
3/14/2018 -4.33
3/15/2018 -6.83
3/16/2018 -5.63
3/17/2018 -5.63
3/18/2018 -5.63
3/19/2018 -8.34
3/20/2018 -8.74
3/21/2018 -6.73
3/22/2018 -8.74
3/23/2018 -9.79
3/24/2018 -9.79
3/25/2018 -9.79
3/26/2018 -9.69
3/27/2018 -10.09
3/28/2018 -10.91
3/29/2018 -9.38
3/30/2018 -9.38
3/31/2018 -9.38
4/1/2018 -9.38
4/2/2018 -10.50
4/3/2018 -10.20
4/4/2018 -10.20
4/5/2018 -8.16
4/6/2018 -9.48
4/7/2018 -9.48
4/8/2018 -9.48
4/9/2018 -9.48
4/10/2018 -6.84
4/11/2018 -6.22
4/12/2018 -6.73
4/13/2018 -6.53
4/14/2018 -6.53
4/15/2018 -6.53
4/16/2018 -3.88
4/17/2018 -2.66
4/18/2018 -2.15
4/19/2018 -3.27
4/20/2018 -3.68
4/21/2018 -3.68
4/22/2018 -3.68
4/23/2018 -2.76
4/24/2018 -4.60
4/25/2018 -4.29
4/26/2018 -3.78
4/27/2018 -3.58
4/28/2018 -3.58
4/29/2018 -3.58
4/30/2018 -3.48
5/1/2018 -3.17
5/2/2018 -2.56
5/3/2018 -3.37
5/4/2018 -2.05
5/5/2018 -2.05
5/6/2018 -2.05
5/7/2018 -1.03
5/8/2018 -1.03
5/9/2018 -0.12
5/10/2018 0.50
5/11/2018 0.90
5/12/2018 0.90
5/13/2018 0.90
5/14/2018 2.12
5/15/2018 1.51
5/16/2018 1.62
5/17/2018 2.02
5/18/2018 1.72
5/19/2018 1.72
5/20/2018 1.72
5/21/2018 2.43
5/22/2018 2.23
5/23/2018 2.12
5/24/2018 0.39
5/25/2018 -0.22
5/26/2018 -0.22
5/27/2018 -0.22
5/28/2018 -0.22
5/29/2018 0.09
5/30/2018 2.74
5/31/2018 2.84
6/1/2018 3.35
6/2/2018 3.35
6/3/2018 3.35
6/4/2018 3.45
6/5/2018 3.35
6/6/2018 2.53
6/7/2018 3.55
6/8/2018 2.84
6/9/2018 2.84
6/10/2018 2.84
6/11/2018 4.47
6/12/2018 3.75
6/13/2018 2.43
6/14/2018 2.94
6/15/2018 0.80
6/16/2018 0.80
6/17/2018 0.80
6/18/2018 2.33
6/19/2018 2.33
6/20/2018 3.65
6/21/2018 2.63
6/22/2018 3.98
6/23/2018 3.98
6/24/2018 3.98
6/25/2018 1.91
6/26/2018 3.25
6/27/2018 2.64
6/28/2018 2.64
6/29/2018 3.15
6/30/2018 3.15
7/1/2018 3.15
7/2/2018 2.12
7/3/2018 3.05
7/4/2018 3.05
7/5/2018 3.36
7/6/2018 4.49
7/7/2018 4.49
7/8/2018 4.49
7/9/2018 4.49
7/10/2018 4.49
7/11/2018 3.56
7/12/2018 4.08
7/13/2018 4.18
7/14/2018 4.18
7/15/2018 4.18
7/16/2018 3.25
7/17/2018 2.64
7/18/2018 3.46
7/19/2018 6.04
7/20/2018 5.11
7/21/2018 5.11
7/22/2018 5.11
7/23/2018 5.32
7/24/2018 5.63
7/25/2018 7.28
7/26/2018 8.00
7/27/2018 6.35
7/28/2018 6.35
7/29/2018 6.35
7/30/2018 7.48
7/31/2018 7.79
8/1/2018 8.31
8/2/2018 9.65
8/3/2018 9.86
8/4/2018 9.86
8/5/2018 9.86
8/6/2018 10.68
8/7/2018 9.65
8/8/2018 10.17
8/9/2018 10.78
8/10/2018 10.89
8/11/2018 10.89
8/12/2018 10.89
8/13/2018 9.03
8/14/2018 9.65
8/15/2018 7.79
8/16/2018 8.41
8/17/2018 9.86
8/18/2018 9.86
8/19/2018 9.86
8/20/2018 10.58
8/21/2018 10.27
8/22/2018 11.40
8/23/2018 10.58
8/24/2018 10.89
8/25/2018 10.89
8/26/2018 10.89
8/27/2018 10.99
8/28/2018 9.75
8/29/2018 9.24
8/30/2018 8.62
8/31/2018 7.69
Date Dividends
12/21/2017 0.0206
3/23/2018 0.1503
6/22/2018 0.1373

There is no guarantee of the payment of any dividend or other distributions at any level.

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions.  Class Y shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 09/18/2018

Date 2013 2014 2015 2016 2017
Short Term
Long Term
Total Amount of Distribution
Record Date
Ex Div Date
Pay Date

There is no guarantee of the payment of any dividend or other distributions at any level.

Portfolio

Top Holdings

(37.0% of assets as of 08/31/2018)


Portfolio Holdings Breakdown

Equity Sector
Asset Allocation
Market Cap 5
Equity Sector SteelPath MLP & Energy Infrastructure Fund Alerian MLP Total Return Index Overweight / Underweight
Diversified 35.2% 10.7% 24.5%
Petroleum Transportation 21.8% 55.8% -34.0%
Natural Gas Pipelines 20.9% 10.9% 10.0%
Gathering & Processing 18.3% 15.2% 3.1%
Other Energy 1.4% 0.7% 0.7%
Oil & Gas Refining & Marketing 1.3% - -
Oil & Gas Storage & Transportation 1.1% - -
Asset Allocation SteelPath MLP & Energy Infrastructure Fund Alerian MLP Total Return Index Overweight / Underweight
Equity 99.9% 100.0% -0.1%
Market Cap SteelPath MLP & Energy Infrastructure Fund Alerian MLP Total Return Index Overweight / Underweight
Large 50.7% 38.8% 11.8%
Mid 35.1% 42.1% -7.0%
Small 14.1% 19.0% -4.9%
Analytics
(As of 08/31/2018)

Portfolio Characteristics
Fund
Fund Index
P/E Ratio (LTM)
34.07
21.01
P/E Ratio (NTM)
20.19
15.22
Price/Book
2.48
2.02
Return on Equity
11.35%
12.49%
Turnover Ratio
23%
-
Dividends
  • E
Est. Frequency
Quarterly
Last Pay Date
6/22/2018
Per Share ($)
$0.1373
12-Month Distribution ($)
$0.3082
Distribution Sources
  • E
Net Income
82.20%
Net Profit from Sale
0.00%
Other Capital Sources
17.80%
Documents
  1. 1. This is a new fund with a limited operating history and an inception date of 11/06/17.
  2. 2. Small and mid-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a small-sized or mid-sized company, if any gain is realized at all. Investments in securities of growth companies may be volatile. Investing in MLPs involves additional risks as compared to the risks of investing in common stock, including risks related to cash flow, dilution and voting rights. The Fund may invest no more than 25% of total assets in MLPs. Energy infrastructure companies are subject to risks specific to the industry such as fluctuations in commodity prices, reduced volumes of natural gas or other energy commodities, environmental hazards, changes in the macroeconomic or the regulatory environment or extreme weather. MLPs may trade less frequently than larger companies due to their smaller capitalizations which may result in erratic price movement or difficulty in buying or selling. Below-investment-grade (“high yield” or "junk") bonds are more at risk of default and are subject to liquidity risk. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile. The Fund is classified as a “non-diversified” fund and may invest a greater portion of its assets in the securities of a single issuer.
  3. 3. For Share Classes with less than a one-year track record, expense ratios are estimated based on the Manager's projections of those expenses for the coming fiscal year.
  4. 4. Holdings are subject to change, and are dollar weighted based on total new assets. Negative weightings may result from the use of leverage. Leverage involves the use of various financial instruments or borrowed capital in an attempt to increase investment return. Leverage risks include potential for higher volatility, greater decline of the Fund’s net asset value and fluctuations of dividends and distributions paid by the Fund.
  5. 5. Holdings are subject to change, are dollar-weighted based on assets, and may not reflect the use of leverage in the Fund. Market Cap breakdown is calculated using Morningstar's methodology and those capitalization standards may not align with those in the Fund's prospectus.
  6. 6. Class I shares are only offered to eligible institutional investors that make a minimum initial investment of $1 million or more and to retirement plan service provider platforms. The minimum account balance for class I shares is $2.5 million.  Class I shares are sold at net asset value without a sales charge.  Please see Fund prospectuses for additional information.
  7. A. Under U.S. tax accounting rules, the exact amount of taxable and nontaxable distributions paid during the fiscal year can only be determined following the close of the calendar year when applicable IRS tax rules are taken into account.  Because the Fund is actively managed, the relative amount of the Fund's total distributions derived from various sources over the calendar year may change.  Investors will receive IRS tax forms in the first quarter of each calendar year detailing the actual amount of the taxable and non-taxable portion of distributions paid during the tax year.  Please refer to the most recent Section 19 Sources of Distribution notice for additional information regarding the composition of distributions. The Section 19 Sources of Distribution information is based upon income and capital gains using generally accepted accounting principles as of the date of each distribution.
  8. B. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7:00pm ET daily.
  9. C. The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated.  Returns do not consider capital gains or income taxes on an individual's investment.
  10. D. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund).  These returns would be lower if sales charges were taken into consideration.  Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions.
  11. E. There is no guarantee of the payment of any dividend or other distributions at any level.
  12. F. The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions and a 1% contingent deferred sales charge for the first year where indicated.  Class C shares are subject to a 0.75% annual asset-backed sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
  13. G. The performance data quoted represents past performance, which does not guarantee future results.  The investments return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions.  Class I shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
  14. H. The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions.  Class Y shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
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