Invesco Launches the Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE)
Invesco (NYSE: IVZ) has launched the Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE), an actively managed ETF focusing on midstream energy infrastructure equities and Master Partnerships (MLPs). The fund targets North American companies involved in gathering, processing, transporting, and storing natural gas, natural gas liquids, crude oil, and other hydrocarbons.
The ETF leverages Invesco SteelPath's expertise in midstream infrastructure investing, dating back to 2004. PIPE aims to capitalize on strong sector fundamentals, offering investors potential benefits from distribution yields and capital appreciation, supported by growing midstream volumes driven by data centers and LNG exports.
MLPs in the fund combine private partnership tax benefits with stock liquidity advantages, enabling cash distributions to investors. The business model is particularly attractive due to its fee-based service structure and growth prospects.
Invesco (NYSE: IVZ) ha lanciato l'Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE), un ETF gestito attivamente che si concentra sulle azioni delle infrastrutture energetiche midstream e sui Master Limited Partnerships (MLP). Il fondo si rivolge a società nordamericane coinvolte nella raccolta, lavorazione, trasporto e stoccaggio di gas naturale, liquidi di gas naturale, petrolio greggio e altri idrocarburi.
Questo ETF sfrutta l'esperienza di Invesco SteelPath negli investimenti in infrastrutture midstream, risalente al 2004. PIPE mira a capitalizzare sui solidi fondamentali del settore, offrendo agli investitori potenziali vantaggi dai rendimenti delle distribuzioni e dall'apprezzamento del capitale, supportati dall'aumento dei volumi midstream guidato dai data center e dalle esportazioni di GNL.
Gli MLP nel fondo combinano i vantaggi fiscali delle partnership private con i vantaggi di liquidità delle azioni, consentendo distribuzioni di cassa agli investitori. Il modello di business è particolarmente attraente grazie alla sua struttura di servizio basata su commissioni e alle prospettive di crescita.
Invesco (NYSE: IVZ) ha lanzado el Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE), un ETF gestionado activamente que se centra en acciones de infraestructura energética midstream y Master Limited Partnerships (MLP). El fondo se dirige a empresas norteamericanas involucradas en la recolección, procesamiento, transporte y almacenamiento de gas natural, líquidos de gas natural, petróleo crudo y otros hidrocarburos.
Este ETF aprovecha la experiencia de Invesco SteelPath en inversiones en infraestructura midstream, que se remonta a 2004. PIPE busca capitalizar los sólidos fundamentos del sector, ofreciendo a los inversores posibles beneficios de los rendimientos de distribución y la apreciación del capital, respaldados por el aumento de los volúmenes midstream impulsados por centros de datos y exportaciones de GNL.
Los MLP en el fondo combinan beneficios fiscales de asociaciones privadas con ventajas de liquidez de acciones, lo que permite distribuciones de efectivo a los inversores. El modelo de negocio es particularmente atractivo debido a su estructura de servicio basada en comisiones y las perspectivas de crecimiento.
인베스코 (NYSE: IVZ)는 인베스코 스틸패스 MLP 및 에너지 인프라 ETF (PIPE)를 출시했습니다. 이 ETF는 중간 스트림 에너지 인프라 주식과 마스터 리미티드 파트너십(MLP)에 집중하는 적극적으로 관리되는 ETF입니다. 이 펀드는 자연 가스, 자연 가스 액체, 원유 및 기타 탄화수소의 수집, 처리, 운송 및 저장에 참여하는 북미 기업을 목표로 합니다.
ETF는 2004년으로 거슬러 올라가는 인베스코 스틸패스의 중간 스트림 인프라 투자 전문성을 활용합니다. PIPE는 강력한 섹터 기본 요소를 활용하여 투자자에게 배당 수익 및 자본 상승의 잠재적 이점을 제공하며, 데이터 센터 및 LNG 수출에 의해 주도되는 증가하는 중간 스트림 물량에 의해 지원됩니다.
펀드 내의 MLP는 사적 파트너십의 세금 혜택과 주식 유동성의 이점을 결합하여 투자자에게 현금 배당을 가능하게 합니다. 이 비즈니스 모델은 수수료 기반 서비스 구조와 성장 전망 덕분에 특히 매력적입니다.
Invesco (NYSE: IVZ) a lancé le Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE), un ETF géré activement axé sur les actions d'infrastructure énergétique midstream et les Master Limited Partnerships (MLP). Le fonds cible les entreprises nord-américaines impliquées dans la collecte, le traitement, le transport et le stockage de gaz naturel, de liquides de gaz naturel, de pétrole brut et d'autres hydrocarbures.
L'ETF tire parti de l'expertise d'Invesco SteelPath en matière d'investissement dans les infrastructures midstream, qui remonte à 2004. PIPE vise à capitaliser sur de solides fondamentaux sectoriels, offrant aux investisseurs des avantages potentiels en termes de rendements de distribution et d'appréciation du capital, soutenus par l'augmentation des volumes midstream propulsés par les centres de données et les exportations de GNL.
Les MLP du fonds combinent les avantages fiscaux des partenariats privés avec les avantages de liquidité des actions, permettant des distributions de liquidités aux investisseurs. Le modèle commercial est particulièrement attrayant en raison de sa structure de service basée sur les frais et de ses perspectives de croissance.
Invesco (NYSE: IVZ) hat den Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) eingeführt, einen aktiv verwalteten ETF, der sich auf Midstream-Energieinfrastrukturaktien und Master Limited Partnerships (MLPs) konzentriert. Der Fonds richtet sich an nordamerikanische Unternehmen, die mit der Erfassung, Verarbeitung, dem Transport und der Lagerung von Erdgas, Erdgasflüssigkeiten, Rohöl und anderen Kohlenwasserstoffen beschäftigt sind.
Der ETF nutzt das Fachwissen von Invesco SteelPath im Bereich Midstream-Infrastrukturinvestitionen, das bis ins Jahr 2004 zurückreicht. PIPE zielt darauf ab, von den soliden Fundamentaldaten des Sektors zu profitieren und den Investoren potenzielle Vorteile aus Ausschüttungsrenditen und Kapitalwertsteigerungen zu bieten, unterstützt durch wachsende Midstream-Volumina, die durch Rechenzentren und LNG-Exporte angetrieben werden.
Die MLPs im Fonds kombinieren die steuerlichen Vorteile von privaten Partnerschaften mit den Liquiditätsvorteilen von Aktien, was es ermöglicht, den Investoren Bargeldverteilungen zukommen zu lassen. Das Geschäftsmodell ist aufgrund seiner gebührenbasierten Service-Struktur und Wachstumsaussichten besonders attraktiv.
- Launch of new actively managed ETF expanding product portfolio
- Leverages existing expertise in midstream infrastructure since 2004
- Fee-based revenue model provides stable income stream
- Strong growth potential from data centers and LNG exports demand
- None.
Insights
The launch of PIPE represents a significant strategic expansion in Invesco's ETF lineup, particularly noteworthy given the current evolution in energy markets. The actively managed structure is especially relevant in the midstream sector, where security selection and tactical positioning can potentially add substantial value compared to passive approaches.
Several key factors make this launch particularly interesting from an investment perspective:
- The fee-based business model of midstream companies provides a degree of insulation from commodity price volatility, focusing instead on volume-driven revenues
- Growing demand from data centers and LNG exports creates a robust backdrop for infrastructure utilization, potentially supporting both distribution yields and capital appreciation
- The ETF structure offers superior tax efficiency compared to direct MLP investment, eliminating K-1 forms and simplifying tax reporting for investors
The timing is particularly strategic given the increasing importance of energy infrastructure in the ongoing energy transition. While renewable energy continues to grow, natural gas infrastructure remains critical for grid reliability and global energy security. The focus on North American assets positions the fund to benefit from the region's role as a key global energy supplier.
From a portfolio construction perspective, midstream infrastructure typically offers lower correlation to broader equity markets and potential inflation protection characteristics through long-term contracts with inflation adjustments. The active management approach could prove valuable in navigating the evolving regulatory landscape and identifying companies best positioned to adapt to changing energy dynamics.
PIPE offers exposure to midstream energy infrastructure equities through an actively managed ETF
"PIPE is a great example of Invesco leveraging our deep, in-house expertise to extend the benefits of our high demand offerings across investment vehicles," says Brian Hartigan, Global Head of ETFs & Index Investments. "We're excited to work together with the SteelPath team to offer midstream energy infrastructure equity exposure in an actively managed ETF."
PIPE will seek to provide investors with actively managed exposure to North American energy infrastructure companies and midstream MLPs. These companies are responsible for gathering, processing, transporting and storing natural gas, natural gas liquids, crude oil and other hydrocarbons by charging a fee for their services. The business model is attractive given its strong distribution component and future growth prospects. MLPs are entities that combine the tax benefits of a private partnership with the liquidity advantages of a stock and can make cash distributions to investors.
"The Invesco SteelPath team has been a pioneer in midstream infrastructure investing since 2004 and is a leader in the category. PIPE will provide investors access to the SteelPath investment capabilities through an actively managed ETF." said Brian Watson, Senior Portfolio Manager. "Sector fundamentals are healthy and currently offer attractive distribution yield and capital appreciation potential supported by continued midstream volume growth driven by demand tailwinds from data centers and liquified natural gas exports."
Invesco continuously evaluates ongoing macro trends to help inform new investment strategies. The launch of PIPE is an example of how the firm continues to bring investors unique investment products that focus on strong investment strategies rather than specific investment vehicles.
About Invesco Ltd.
Invesco Ltd. (Ticker NYSE: IVZ) is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. With offices in more than 20 countries, Invesco managed
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About Risk
There are risks involved with investing in ETFs, including possible loss of money. Actively managed ETFs do not necessarily seek to replicate the performance of a specified index. Actively managed ETFs are subject to risks similar to stocks, including those related to short selling and margin maintenance. Ordinary brokerage commissions apply. The Fund's return may not match the return of the Index. The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.
This does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial professional before making any investment decisions.
The Fund is subject to management risk because it is an actively managed portfolio. The investment techniques and risk analysis used by the portfolio managers may not produce the desired results.
Derivatives may be more volatile and less liquid than traditional investments and are subject to market, interest rate, credit, leverage, counterparty and management risks. An investment in a derivative could lose more than the cash amount invested.
Stock and other equity securities values fluctuate in response to activities specific to the company as well as general market, economic and political conditions.
Although the characteristics of MLPs closely resemble a traditional limited partnership, a major difference is that MLPs may trade on a public exchange or in the over-the-counter market. Although this provides a certain amount of liquidity, MLP interests may be less liquid and subject to more abrupt or erratic price movements than conventional publicly traded securities. The risks of investing in an MLP are similar to those of investing in a partnership and include more flexible governance structures, which could result in less protection for investors than investments in a corporation. MLPs are generally considered interest-rate sensitive investments. During periods of interest rate volatility, these investments may not provide attractive returns.
The risks of investing in securities of foreign issuers can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.
The performance of an investment concentrated in issuers of a certain region or country is expected to be closely tied to conditions within that region and to be more volatile than more geographically diversified investments.
Because the Fund invests a significant portion of its assets in companies that are domiciled in
The fund is considered non-diversified and may experience greater volatility than a more diversified investment.
The fund is subject to certain other risks. Please see the current prospectus for more information regarding the risks associated with an investment in the fund.
Since ordinary brokerage commissions apply for each buy and sell transaction, frequent trading activity may increase the cost of ETFs.
Invesco does not offer tax advice. Please consult your tax adviser for information regarding your own personal tax situation.
Before investing, investors should carefully read the prospectus and/or summary prospectus and carefully consider the investment objectives, risks, charges and expenses. For this and more complete information about the fund(s), investors should ask their advisors for a prospectus/summary prospectus or visit invesco.com/fundprospectus.
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Contact: Samantha Brandifino, samantha.brandifino@invesco.com, 332.323.5557
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SOURCE Invesco Ltd.
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