The Cushing® MLP & Infrastructure Total Return Fund Announces Fund Name Change
The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) announced a name change to NXG Cushing Midstream Energy Fund effective April 3, 2023. The Fund will continue to pursue its investment objective of high after-tax total returns through capital appreciation and current income. Post-change, the Fund will invest at least 80% of its net assets in midstream energy investments, transitioning from a focus on infrastructure MLPs. As of January 27, 2023, 92.42% of its net assets were already in midstream investments, suggesting minimal impact on the Fund's portfolio. This change aims to align better with market trends while maintaining its regulatory investment company status.
- 92.42% of the Fund's net assets are currently in midstream investments, minimizing portfolio rebalancing.
- Continued focus on high after-tax total returns through capital appreciation and income.
- Shift away from a strict focus on MLP investments could alter risk profile.
- No assurance that the Fund will achieve its investment objectives.
New Fund Name | Ticker | |
SRV |
The Fund will continue to pursue its investment objective to obtain a high after-tax total return from a combination of capital appreciation and current income. There can be no assurance that the Fund's investment objective will be achieved.
The Fund currently pursues its investment objective by investing, under normal market conditions, at least
As of
Effective as of
As of
The Fund intends to continue to qualify to be treated, as a regulated investment company ("RIC") under the Code. Therefore, the Fund will, as of the end of each fiscal quarter, invest no more than
The Fund will continue to be non-diversified and may continue to invest in companies of any market capitalization size.
No other changes to the Fund's investment policies are being made in connection with these changes, nor are any such further changes currently anticipated.
No action is required by shareholders of the Fund in connection with these changes.
The Fund is a non-diversified, closed-end management investment company with an investment objective to obtain a high after-tax total return from a combination of capital appreciation and current income. There can be no assurance that the Fund will achieve its investment objective.
Contact:
214-692-6334
www.nxgim.com
www.cushingcef.com
This press release does not constitute an offer to sell securities of the Fund and it is not soliciting an offer to buy securities of the Fund, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
There can be no assurance that the Fund will achieve their investment objectives. Investments in the Fund involve operating expenses and fees. The net asset value of the Fund will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value. Past performance is not indicative of future performance. An investment in the Fund is subject to investment risk, including the possible loss of the entire amount that you invest. See www.cushingcef.com for a detailed discussion of Fund-specific risks.
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SOURCE Cushing®
FAQ
What is the new name of the Cushing Fund, SRV?
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