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Salient Launches Salient MLP & Energy Infrastructure Fund II And Announces Quarterly Distribution Of $0.125 Per Share For The Quarter Ended November 30, 2012
By: PR Newswire
Nov. 16, 2012 04:12 PM
HOUSTON, Nov. 16, 2012 /PRNewswire/ -- Salient Partners L.P. (Salient), a $17.4 billion asset management firm, has launched the Salient MLP & Energy Infrastructure Fund II (Class A Ticker: SMAPX, Class C Ticker: SMFPX, Class I Ticker: SMLPX). This is the firm's first mutual fund focused on master limited partnerships (MLPs) and energy infrastructure companies, giving investors the potential to capitalize on the investment opportunities available in this industry.
The Salient MLP & Energy Infrastructure Fund II (the "Fund") seeks to provide a high level of total return and emphasizes making quarterly cash distributions to shareholders. Its strategy entails investing at least 80 percent of its net assets in equity securities of MLPs and energy infrastructure companies of all market capitalizations. The Fund may, for example, invest in MLP Affiliates, C-Corps, Shipping LPs and Royalty Trusts, broadening the traditional range of energy infrastructure investment opportunities.
The Fund announced its first quarterly distribution of $0.125 per share for the period of September 19, 2012 to November 30, 2012.
The distribution for the quarter ended November 30, 2012 will be payable on December 5, 2012 to common stockholders of record on November 21, 2012. It is anticipated that a significant portion of this distribution will be treated as a return of capital for tax purposes. The final determination of such amount will be made in early 2013 when the Company can determine its earnings and profits for the 2012 fiscal year. The final tax status of the distribution may differ substantially from its preliminary information.
The Fund's investments are concentrated in the energy infrastructure industry with an emphasis on securities issued by MLPs, which may increase price fluctuation. The value of commodity-linked investments such as the MLPs and Energy Infrastructure Companies (including Midstream MLPs and Energy Infrastructure Companies) in which the Fund invests are subject to risks specific to the industry they serve, such as fluctuations in commodity prices, reduced volumes of available natural gas or other energy commodities, slowdowns in new construction and acquisitions, a sustained reduced demand for crude oil, natural gas and refined petroleum products, depletion of the natural gas reserves or other commodities, changes in the macroeconomic or regulatory environment (including the risk that an MLP could lose its tax status as a partnership), environmental hazards, rising interest rates and threats of attack by terrorists on energy assets, each of which could affect the Fund's profitability.
In addition, 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. Such companies 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.
Additional management fees and other expenses are associated with investing in MLP funds. The Fund is subject to certain MLP tax risks and risks associated with accounting for its deferred tax liability which could materially reduce the net asset value. An investment in the Fund does not offer the tax benefits of a direct investment in an MLP.
No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund's prospectus for a complete description.
You should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund and is available, along with information on other Salient funds, by calling 866-667-9228 or from your financial professional. The prospectus should be read carefully before investing.
A Word about Forward-Looking Statements. This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual future results to differ significantly from the Fund's present expectations or projections indicated in any forward looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; leverage risk; valuation risk; interest rate risk; tax risk; the volume of sales and purchase of shares; the continuation of investment advisory, administration and other service arrangements; and other risks discussed in the Fund's filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein.
This press release does not constitute an offering of any security, product, service or fund, including the Fund, for which an offer can be made only by the Fund's Prospectus.
Any tax or legal information discussed herein is merely a summary of our current understanding and interpretation of certain tax characteristics and is not exhaustive. MLPs and MLP investments have unique tax characteristics. Investors must consult their tax advisor or legal counsel for advice and information regarding their particular situation. Neither the Fund nor its representatives purport to give tax or legal advice.
For more information about Salient, please contact Chris Moon of JCPR at 973-850-7304 or firstname.lastname@example.org.
Salient is a $17.4 billion investment management firm based in Houston, Texas. The firm is a recognized innovator in the development, management and delivery of sophisticated, non-traditional investment solutions for both institutional and retail investors. Through its comprehensive investment approach, Salient identifies and develops leading strategies that help eliminate unrewarded risk, reduce investing costs and focus on the fundamental drivers of returns to deliver the full potential of all markets to investors. For more information about Salient and its professionals, visit www.salientpartners.com.
The Salient MLP & Energy Infrastructure Fund II is distributed by Foreside Fund Services, LLC.
Fund shares are not FDIC insured, not bank guaranteed and may lose value.
SOURCE Salient Partners L.P.
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