Tortoise Announces Index Updates for First Quarter 2024

Rhea-AI Summary

Tortoise announces additions and deletions to its indices for the first quarter of 2024. Changes include new companies added and removed from various indexes like Tortoise MLP Index, Tortoise North American Pipeline Index, Ecofin Global Water ESG Index, Tortoise Decarbonization Infrastructure Index, Tortoise Recycling Decarbonization UCITS Index, and Tortoise Recycling Decarbonization Index.

OVERLAND PARK, KS / ACCESSWIRE / March 8, 2024 / Tortoise today announced upcoming additions and deletions to its indices as part of its regular quarterly rebalancing for the first quarter of 2024. Following the close of trading on Friday, March 15, 2024, the indices will be rebalanced according to their stated methodologies and as a result, the following changes will become effective.

Tortoise MLP Index ® (TMLP/TMLPT)
Action	Company	Ticker
Addition	Mach Natural Resources LP	MNR US

Tortoise North American Pipeline IndexSM (TNAP/TNAPT)
Action	Company	Ticker
No changes

Ecofin Global Water ESG IndexSM (EGWESG/EGWESGT)
Action	Company	Ticker
Deletion	American States Water	AWR US
Addition	Veralto Corp	VLTO US

Tortoise Decarbonization Infrastructure IndexSM (DCRBN/DCRBNT)
Action	Company	Ticker
Deletion	Gevo Inc	GEVO US

Tortoise Recycling Decarbonization UCITS IndexSM (RECYCLE/RECYCLET)
Action	Company	Ticker
Deletion	Li-Cycle Holdings Corp	LICY US
Deletion	Vertex Energy Inc	VTNR US
Deletion	Alto Ingredients Inc	ALTO US
Deletion	Origin Materials Inc	ORGN US
Deletion	Enviva Inc	EVA US

Tortoise Recycling Decarbonization IndexSM (RCYCL/RCYCLT)
Action	Company	Ticker
Deletion	Li-Cycle Holdings Corp	LICY US
Deletion	Vertex Energy Inc	VTNR US
Deletion	Alto Ingredients Inc	ALTO US
Deletion	Origin Materials Inc	ORGN US
Deletion	Enviva Inc	EVA US

Full constituent lists for each index from the previous quarter rebalance can be found here:

Tortoise MLP Index^® (TMLP): https://tortoiseadvisors.com/media/1528/tmlp-factsheet-constituent-overview-backup-121823_values.pdf

Tortoise North American Pipeline Index^SM (TNAP): https://tortoiseadvisors.com/media/1530/tnap-factsheet-constituent-overview-backup-121823_values.pdf

Ecofin Global Water ESG Index ^SM (EGWESG): https://tortoiseadvisors.com/media/1530/tnap-factsheet-constituent-overview-backup-121823_values.pdf

Tortoise Decarbonization Infrastructure Index ^SM (DCRBN) https://tortoiseadvisors.com/media/4984/dcrbn-factsheet-constituent-overview-backup-121823_values.pdf

Tortoise Recycling Decarbonization UCITS Index ^SM (RECYCLE) https://tortoiseadvisors.com/media/4927/recycle-factsheet-constituent-overview-backup-091823_values.pdf

Tortoise Recycling Decarbonization Index ^SM (RCYCL) https://tortoiseadvisors.com/media/4928/rcycl-factsheet-constituent-overview-backup-091823_values.pdf

About Tortoise Index Solutions

Tortoise's actively researched indices are intended to fill a void in the essential asset universe and provide a platform for passively managed exchange-traded products that span energy and sustainable infrastructure. Tortoise offers passively managed products based on actively researched indices, and provides access to a range of client solutions, focused on their evolving needs. To learn more, please visit www.tortoiseadvisors.com.

The Tortoise MLP Index^® is a float-adjusted, capitalization weighted index of energy master limited partnerships (MLPs). The index is comprised of publicly traded companies organized in the form of limited partnerships or limited liability companies engaged in transportation, production, processing and/or storage of energy commodities.

The Tortoise North American Pipeline Index^SM is a float-adjusted, capitalization weighted index of pipeline companies that are organized and have their principal place of business in the United States or Canada. A pipeline company is defined as a company that either 1) has been assigned a standard industrial classification ("SIC") system code that indicates the company operates in the energy pipeline industry or 2) has at least 50% of its assets, cash flow or revenue associated with the operation or ownership of energy pipelines. Pipeline companies engage in the business of transporting natural gas, crude oil and refined products, storing, gathering and processing such gas, oil and products and local gas distribution. The index includes pipeline companies structured as corporations, limited liability companies and master limited partnerships (MLPs).

The Ecofin Global Water ESG Index^SM is a proprietary, rules-based, modified capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in the water infrastructure or water management industries.

The indices mentioned above are the exclusive property of TIS Advisors, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) to calculate and maintain the Tortoise MLP Index®, Tortoise North American Pipeline Index^SM, and Ecofin Global Water ESG Index^SM (the "Indices"). The Indices are not sponsored by S&P Dow Jones Indices or its affiliates or its third party licensors (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices will not be liable for any errors or omissions in calculating the Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) are service marks of S&P Dow Jones Indices and have been licensed for use by TIS Advisors and its affiliates. S&P^® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"), and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones").

The Tortoise Decarbonization Infrastructure IndexSM is a float-adjusted, capitalization weighted index of decarbonizing infrastructure companies that are organized and have their principal place of business in the United States or Canada. We define a decarbonization infrastructure company as a company that primarily owns natural gas and/ or natural gas liquids infrastructure including pipelines and local distribution companies, electric generation, transmission and distribution, battery storage, electric charging infrastructure, residential rooftop solar facilities and/ or renewable fuels.

The Tortoise Recycling Decarbonization IndexSM is a modified capitalization weighted index that tracks the performance of companies involved in waste-to-energy and recycling technologies that trade on developed and developing market exchanges. Waste-to-Energy is the process of generating energy from waste such as garbage, animal manure, agriculture products and/or animal fats and thus includes companies that produce renewable natural gas and diesel as well as ethanol. Recycling includes companies that recycle plastic waste, lithium-ion batteries as well as carbon capture sequestration.

The Tortoise Recycling Decarbonization UCITS IndexSM is a modified capitalization weighted index that tracks the performance of companies involved in waste-to-energy and recycling technologies that trade on developed and developing market exchanges. The Index includes an assessment of environmental, social, and governance (ESG) considerations.Waste-to-Energy is the process of generating energy from waste such as garbage, animal manure, agriculture products and/or animal fats and thus includes companies that produce renewable natural gas and diesel as well as ethanol. Recycling includes companies that recycle plastic waste, lithium-ion batteries as well as carbon capture sequestration.

The indices mentioned above are the exclusive property of TIS Advisors and is calculated by Solactive AG ("Solactive"). The financial instruments that are based on the Index are not sponsored, endorsed, promoted or sold by Solactive AG ("Solactive") in any way and Solactive makes no express or implied representation, guarantee or assurance with regard to: (a) the advisability in investing in the financial instruments; (b) the quality, accuracy and/or the completeness of the Index or the calculations thereof; and/or (c) the results obtained or to be obtained by any person or entity from the use of the Index.

This data is provided for informational purposes only and is not intended for trading purposes. This document shall not constitute an offering of any security, product or service. The addition, removal or inclusion of a security in the index is not a recommendation to buy, sell or hold that security, nor is it investment advice. The information contained in this document is current as of the publication date. Tortoise makes no representations with respect to the accuracy or completeness of these materials and will not accept responsibility for damages, direct or indirect, resulting from an error or omission in this document. The methodology involves rebalancing and maintenance of the index that is made periodically during each year and may not, therefore, reflect real time information.

Safe Harbor Statement

This press release shall not constitute an offer to sell or a solicitation to buy, 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.

Contact Information

For more information contact Eva Lipner at (913) 981-1020 or info@tortoiseadvisors.com.

SOURCE: Tortoise

View the original press release on accesswire.com

FAQ

Which companies are being added to the Tortoise MLP Index for the first quarter of 2024?

Mach Natural Resources LP is being added to the Tortoise MLP Index for the first quarter of 2024.

Which company is being deleted from the Ecofin Global Water ESG Index for the first quarter of 2024?

American States Water is being deleted from the Ecofin Global Water ESG Index for the first quarter of 2024.

What changes are occurring in the Tortoise Recycling Decarbonization Index for the first quarter of 2024?

Several companies including Li-Cycle Holdings Corp, Vertex Energy Inc, Alto Ingredients Inc, Origin Materials Inc, and Enviva Inc are being deleted from the Tortoise Recycling Decarbonization Index for the first quarter of 2024.