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SteelPath MLP & Energy Infrastructure Fund

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
  • A
(as of 05/23/2018)
$10.02
Total Assets
(as of 04/30/2018)
$10.27 MM
Gross Expense Ratio
(as of 04/30/2018)
1.70%
Net Expense Ratio
(as of 04/30/2018)
1.12%
Performance
Average Annual Total Returns
Cumulative Returns
Capital Gains Distributions
as of 04/30/2018
as of 03/31/2018

Sales charges are not applicable to Y & I Share Classes.
Cumulative
1 mo 3 mo ytd as of 2018-03-31
since inception
SteelPath MLP & Energy Infrastructure Fund (NAV)
-4.23% -12.48% -12.48% -9.41%
Alerian MLP Total Return Index
-6.94% -11.12% -11.12% -9.72%
Cumulative
1 mo 3 mo ytd as of 2018-04-30
since inception
SteelPath MLP & Energy Infrastructure Fund (NAV)
6.64% -7.48% -6.67% -3.40%
Alerian MLP Total Return Index
8.09% -9.16% -3.92% -2.41%
Gross Expense Ratio: 1.70% | Net Expense Ratio: 1.12%

Year SteelPath MLP & Energy Infrastructure Fund

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 -2.80
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 -0.10
12/5/2017 -0.40
12/6/2017 -1.60
12/7/2017 -0.50
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 1.21
12/22/2017 1.81
12/23/2017 1.81
12/24/2017 1.81
12/25/2017 1.81
12/26/2017 2.31
12/27/2017 2.21
12/28/2017 3.21
12/29/2017 3.51
12/30/2017 3.51
12/31/2017 3.51
1/1/2018 3.51
1/2/2018 5.41
1/3/2018 6.62
1/4/2018 7.22
1/5/2018 6.22
1/6/2018 6.22
1/7/2018 6.22
1/8/2018 6.62
1/9/2018 6.52
1/10/2018 6.12
1/11/2018 7.82
1/12/2018 8.42
1/13/2018 8.42
1/14/2018 8.42
1/15/2018 8.42
1/16/2018 7.92
1/17/2018 7.82
1/18/2018 6.72
1/19/2018 6.92
1/20/2018 6.92
1/21/2018 6.92
1/22/2018 8.72
1/23/2018 9.42
1/24/2018 8.92
1/25/2018 7.92
1/26/2018 8.12
1/27/2018 8.12
1/28/2018 8.12
1/29/2018 6.22
1/30/2018 4.31
1/31/2018 4.41
2/1/2018 4.81
2/2/2018 1.71
2/3/2018 1.71
2/4/2018 1.71
2/5/2018 -1.00
2/6/2018 0.70
2/7/2018 0.81
2/8/2018 -2.50
2/9/2018 -3.20
2/10/2018 -3.20
2/11/2018 -3.20
2/12/2018 -0.80
2/13/2018 0.00
2/14/2018 0.60
2/15/2018 0.91
2/16/2018 -0.40
2/17/2018 -0.40
2/18/2018 -0.40
2/19/2018 -0.40
2/20/2018 -1.10
2/21/2018 -2.50
2/22/2018 -2.90
2/23/2018 -1.40
2/24/2018 -1.40
2/25/2018 -1.40
2/26/2018 -1.70
2/27/2018 -3.10
2/28/2018 -5.41
3/1/2018 -5.11
3/2/2018 -5.21
3/3/2018 -5.21
3/4/2018 -5.21
3/5/2018 -4.71
3/6/2018 -4.61
3/7/2018 -5.81
3/8/2018 -5.91
3/9/2018 -4.51
3/10/2018 -4.51
3/11/2018 -4.51
3/12/2018 -3.20
3/13/2018 -3.50
3/14/2018 -4.31
3/15/2018 -6.91
3/16/2018 -5.71
3/17/2018 -5.71
3/18/2018 -5.71
3/19/2018 -8.41
3/20/2018 -8.81
3/21/2018 -6.81
3/22/2018 -8.71
3/23/2018 -9.71
3/24/2018 -9.71
3/25/2018 -9.71
3/26/2018 -9.71
3/27/2018 -10.02
3/28/2018 -10.94
3/29/2018 -9.41
3/30/2018 -9.41
3/31/2018 -9.41
4/1/2018 -9.41
4/2/2018 -10.53
4/3/2018 -10.22
4/4/2018 -10.12
4/5/2018 -8.18
4/6/2018 -9.41
4/7/2018 -9.41
4/8/2018 -9.41
4/9/2018 -9.51
4/10/2018 -6.76
4/11/2018 -6.25
4/12/2018 -6.76
4/13/2018 -6.55
4/14/2018 -6.55
4/15/2018 -6.55
4/16/2018 -3.90
4/17/2018 -2.58
4/18/2018 -2.17
4/19/2018 -3.29
4/20/2018 -3.70
4/21/2018 -3.70
4/22/2018 -3.70
4/23/2018 -2.68
4/24/2018 -4.62
4/25/2018 -4.31
4/26/2018 -3.80
4/27/2018 -3.50
4/28/2018 -3.50
4/29/2018 -3.50
4/30/2018 -3.39
Date Dividends
12/21/2017 0.0206
3/23/2018 0.1503

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

$ per share as of 05/22/2018

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

(36.9% of assets as of 04/30/2018)


Portfolio Holdings Breakdown

Equity Sector
Asset Allocation
Market Cap 6
Equity Sector SteelPath MLP & Energy Infrastructure Fund Alerian MLP Total Return Index Overweight / Underweight
Diversified 35.9% 17.6% 18.3%
Petroleum Transportation 24.2% 53.0% -28.8%
Gathering & Processing 22.1% 12.5% 9.5%
Natural Gas Pipelines 16.3% 9.9% 6.4%
Asset Allocation SteelPath MLP & Energy Infrastructure Fund Alerian MLP Total Return Index Overweight / Underweight
Equity 98.4% 100.0% -1.6%
Market Cap SteelPath MLP & Energy Infrastructure Fund Alerian MLP Total Return Index Overweight / Underweight
Large 49.8% 43.1% 6.7%
Mid 26.7% 38.0% -11.2%
Small 21.8% 18.9% 2.9%
Analytics
(As of 04/30/2018)

Dividends
  • B
Est. Frequency
Quarterly
Last Pay Date
3/23/2018
Per Share ($)
$0.1503
12-Month Distribution ($)
$0.1709
Portfolio Characteristics
Fund
Fund Index
P/E Ratio (LTM)
36.70
20.79
P/E Ratio (NTM)
20.46
15.70
Price/Book
2.24
1.71
Return on Equity
11.32%
12.42%
Distribution Sources
  • B
Net Income
72.80%
Net Profit from Sale
0.00%
Other Capital Sources
27.20%
Documents
  1. 1. This is a new fund with a limited operating history and an inception date of 11/06/17.
  2. 2. Index Definition: The Alerian MLP Index is a float-adjusted, capitalization-weighted index measuring master limited partnerships, whose constituents represent approximately 85% of total float-adjusted market capitalization. The index is unmanaged and cannot be purchased directly by investors.
  3. 3. Special Risks: 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 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.
  4. 4. 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.
  5. 5. Holdings are subject to change, and are dollar weighted based on total net 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.
  6. 6. 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.
  7. A. 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.
  8. B. There is no guarantee of the payment of any dividend or other distributions at any level.
  9. The funds invest in below-investment-grade debt securities, which may entail greater credit risks, as described in each fund’s prospectus. These securities (sometimes called “junk bonds”) may be subject to greater price fluctuations and risks of loss of income and principal than investment-grade municipal securities. The funds may invest substantially in municipal securities within a single state or related to similar type projects, which can increase volatility and exposure to regional issues. The funds may also invest substantially in Puerto Rico and other U.S. territories, commonwealths and possessions, and could be exposed to their local political and economic conditions. Deterioration of the Puerto Rican economy could have an adverse impact on Puerto Rican bonds and the performance of the Rochester municipal funds that hold them.The views represented herein are the opinions of the Portfolio Managers at Macquarie Capital Investment Management LLC and are not intended as investment advice or to predict or depict the performance of any investment. These views are as of the date indicated, and are subject to change based on subsequent developments.Funds returns may not match the return of its respective index, known as non-correlation risk, due to operating expenses incurred by the Funds. The alternate weighting approach employed by the Funds (i.e., using revenues as a weighting measure), while designed to enhance potential returns, may not produce the desired results. Because the Funds are rebalanced quarterly, portfolio turnover may exceed 100%. The greater the portfolio turnover, the greater the transaction costs, which could have an adverse effect on Fund performanceOn April 28, 2017, OFI Global Institutional, Inc., a registered investment adviser subsidiary within OFI Global Asset Management (“OFI Global”) acquired SNW Asset Management, LLC (“SNW”). SNW provides advisory services for the strategy discussed herein.

    Benchmark: Through 12/31/11: 80% Merrill Lynch 1-5yr Municipal index/ 20% Merrill Lynch 5-7yr index. After 12/31/11: BofA Merrill Lynch 1-10 Year Municipal Securities Index. The BofA Merrill Lynch 1-10 Year Municipal Securities Index is a subset of the BofA Merrill Lynch US Municipal Securities Index including all securities with a remaining term to final maturity less than 10 years.On April 28, 2017, OFI Global Institutional, Inc., a registered investment adviser subsidiary within OFI Global Asset Management (“OFI Global”) acquired SNW Asset Management, LLC (“SNW”). SNW provides advisory services for the strategy discussed herein.

    Benchmark: Through 12/31/11: 80% Merrill Lynch 1-5yr Municipal index/ 20% Merrill Lynch 5-7yr index. After 12/31/11: BofA Merrill Lynch 1-10 Year Municipal Securities Index. The BofA Merrill Lynch 1-10 Year Municipal Securities Index is a subset of the BofA Merrill Lynch US Municipal Securities Index including all securities with a remaining term to final maturity less than 10 years.

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