Tortoise Announces Index Updates for Second Quarter 2024
Tortoise (NYSE:TPZ) announced its quarterly index rebalancing for Q2 2024. Effective post-trading on June 21, 2024, no changes will occur in the Tortoise MLP Index (TMLP) and Tortoise North American Pipeline Index (TNAP). However, the Ecofin Global Water ESG Index (EGWESG) will add Guangdong Investment (270 HK) while the Tortoise Decarbonization Infrastructure Index (DCRBN) will remove Stem Inc (STEM US) and EVgo Inc (EVGO US). These adjustments align with the indices' stated methodologies.
- Index rebalancing scheduled for June 21, 2024, demonstrating Tortoise's commitment to maintaining its indices' integrity.
- Addition of Guangdong Investment (270 HK) to the Ecofin Global Water ESG Index (EGWESG), potentially boosting ESG (Environmental, Social, Governance) focus.
- Clear communication of changes helps maintain transparency with investors.
- Deletion of Stem Inc (STEM US) and EVgo Inc (EVGO US) from the Tortoise Decarbonization Infrastructure Index (DCRBN) might indicate performance or strategic alignment issues.
- No new additions to the Tortoise MLP Index (TMLP) and Tortoise North American Pipeline Index (TNAP) could suggest growth opportunities or stagnation in these sectors.
OVERLAND PARK, KS / ACCESSWIRE / June 14, 2024 / Tortoise (NYSE:TPZ) today announced upcoming additions and deletions to its indices as part of its regular quarterly rebalancing for the second quarter of 2024. Following the close of trading on Friday, June 21, 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 |
No changes | ||
Tortoise North American Pipeline IndexSM (TNAP/TNAPT) | ||
Action | Company | Ticker |
No changes | ||
Ecofin Global Water ESG IndexSM (EGWESG/EGWESGT) | ||
Action | Company | Ticker |
| Addition | Guangdong Investment Ltd | 270 HK |
Tortoise Decarbonization Infrastructure IndexSM (DCRBN/DCRBNT) | ||
Action | Company | Ticker |
| Deletion | Stem Inc | STEM US |
| Deletion | EVgo Inc | EVGO 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-31824_values.pdf
Tortoise North American Pipeline IndexSM (TNAP): https://tortoiseadvisors.com/media/1530/tnap-factsheet-constituent-overview-backup-31824_values.pdf
Ecofin Global Water ESG Index SM (EGWESG): https://tortoiseadvisors.com/media/1260/egwesg-factsheet-constituent-overview-backup-31824_values.pdf
Tortoise Decarbonization Infrastructure Index SM (DCRBN): https://tortoiseadvisors.com/media/4984/dcrbn-factsheet-constituent-overview-backup-31824_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 IndexSM 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
The Ecofin Global Water ESG IndexSM 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 IndexSM, and Ecofin Global Water ESG IndexSM (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 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
What are the upcoming changes in Tortoise indices for Q2 2024?
When will Tortoise's index rebalancing take effect?
Which companies are being removed from the Tortoise Decarbonization Infrastructure Index (DCRBN)?
Which company is being added to the Ecofin Global Water ESG Index (EGWESG)?
