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Rating:SteelPath Broadens its MLP Fund Menu Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, January 12, 2012

SteelPath Broadens its MLP Fund Menu

Reported by Armie Margaret Lee

SteelPath [profile], which specializes in master limited partnership funds, has added two mutual funds to its roster. The Dallas-based firm unveiled the SteelPath MLP & Infrastructure Debt Fund and the SteelPath MLP Alpha Plus Fund on December 30.

Scott Blankenship
SteelPath
VP of Sales and Marketing
The launch raises the number of SteelPath mutual funds to five.

Scott Blankenship, vice president of sales & marketing, told The MFWire.com that advisor demand drove the creation of the new offerings.

SteelPath execs pitch the MLP & Infrastructure Debt Fund as the first debt-focused MLP mutual fund in the industry. Expense ratios are 150 bps for A shares, 225 bps for C shares and 125 for I shares. [ prospectus]

AlphaPlus, for its part, uses leverage to distinguish it from SteelPath's flagship fund, MLP Alpha Fund. AlphaPlus' expense ratios are 242 basis points for A shares, 317 bps for C shares and 217 bps for I shares. [ prospectus]

Gabriel Hammond, Stuart Cartner, and Brian Watson are managing the funds.

SteelPath sells its funds mainly through advisors.

Blankenship and his team of two external wholesalers, two internals and a dedicated marketing professional target RIAs, independents, institutions, national broker-dealers and the 401(k) market.

SteelPath launched its first three funds, including the flagship Alpha Fund, in March 2010.
Company Press Release

SteelPath Introduces Two New MLP Mutual Funds

DALLAS. Jan 12, 2012 - SteelPath Advisors announced the launch of the SteelPath MLP & Infrastructure Debt Fund and the SteelPath MLP Alpha Plus Fund. These funds are actively managed by Gabriel Hammond, Stuart Cartner, and Brian Watson and provide a simple solution to access MLPs without the complexities of K-1s and Unrelated Business Taxable Income (UBTI). Mr. Hammond and Mr. Cartner are current Portfolio Managers on other SteelPath fund offerings (SteelPath MLP Alpha Fund, SteelPath MLP Income Fund, and SteelPath MLP Select 40 Fund). Mr. Watson joins as co-portfolio manager on the new offerings while retaining his duties as the firmfs Director of Research. "Given Brian's extensive involvement as Director of Research for the past 3 years, wefre excited for him to take on a more active role within the portfolios" commented SteelPath founder and CEO Gabriel Hammond.

The SteelPath MLP & Infrastructure Debt Fund (MLPWX) represents the industry's first debt-focused MLP mutual fund and invests in debt securities of approximately 15-20 MLP and energy infrastructure companies. SteelPath's MLP Alpha Plus Fund (MLPNX) is a concentrated portfolio of approximately 20 MLP equity securities and employs leverage to distinguish it from SteelPath's existing flagship fund, the MLP Alpha Fund.

Gabriel Hammond added, "Many investors are looking for alternative sources of income in this lowyielding environment, and these new funds are the result of demand for additional solutions".

Scott Blankenship, the firm's Vice President of Sales & Marketing stated "MLPs are becoming a permanent allocation within a broad range of investor portfolios given the asset classfs historically consistent income distributions, low correlations to the broader markets, and strong total returns."

Both new funds, like all other SteelPath strategies, will focus on MLPs classified as "mid-stream", which describes those firms which are primarily responsible for the transportation, storage, and processing of carbon-based natural resources such as oil, natural gas, and refined products. Mid-stream MLPs present an attractive risk/reward proposition as they typically earn "tolls" or "fees" and tend to be less volatile since they typically do not take ownership of the underlying commodities they handle.

To learn more about SteelPath and these funds, call 866-752-5444 or visit www.steelpath.com for more information.

About SteelPath

SteelPath is a leading investment manager of Master Limited Partnership (MLP) portfolios. The firm has been investing in MLPs since 2004, and is based in Dallas, Texas. Products offered include mutual funds, separately managed accounts, and investment limited partnerships. SteelPath employs a fundamental, research]driven portfolio selection process to invest predominately in U.S. based energy infrastructure companies structured as MLPs. Energy infrastructure MLPs transport, store, and process liquid hydrocarbons and natural gas, and generate revenues largely through fee or fee]like contracts. MLPs will be tapped to build out the new infrastructure (pipelines, processing plants, terminals) to support the rapid growth in domestic energy production from non-traditional shale plays. SteelPath views these companies as having strong business models which potentially offer attractive investment opportunities given their consistent cash flow generations, ability to grow distributions and strong performance results.SteelPathfs investment team has over 50 years of combined investment experience in the MLP asset class.
 

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