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Rating:Mount Yale Readies to Rock MLP  Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, October 03, 2012

Mount Yale Readies to Rock MLP

Reported by Tommy Fernandez

Mount Yale Asset Management [profile] is preparing to aggressively promote a burgeoning mutual fund focusing on master limited partnerships (MLPs) within the energy sector.

The fund, dubbed the Eagle MLP Strategy Fund, was launched on Sept. 14, is co-advised by Eagle Global Advisors and Princeton Fund Advisors, and is focused on energy-related MLPs, primarily on "energy infrastructure in the “midstream” transportation and storage segment of the energy supply chain."

It is distributed by Northern Lights Distributors.

Mount Yale chief investment officer Greg Anderson says the product will be attractive to investors because "the MLP space has low correlation to equities." His company's goal is to grow assets in the fund by $30 to $50 million per month.

"The energy, infrastructure space tends to have a very high cash flow or yield component to it," he says. "This fund has the opportunity to offer both cash flow and yield."

Senior vice president of sales David Gottesman says his distribution strategy for the fund is "primarily focused on retail broker dealers, and the independent financial advisor community. My approach is to be in touch with and to tell the story to the decision makers and reference sources at a number of retail broker dealers. They essentially pass my story down to those who rely upon them for advice and guidance.

"It is a multi-tiered approach, very strategic in the way we do it. It is still a very grass roots approach that we rely upon on the alternative side to get the story out to investors and wealth managers," he says. "Certainly in the advisory world, where there are independent financial advisors working with clients, we find the vast majority have really started to embrace and understand where alternates fit in a portfolio."

Anderson says Mount Yale has "focused so far on the broker-dealer marketplace and the independent advisor space and less time on wirehouses." 

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