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Salient Midstream & MLP Fund  as of 01/27/2021

NYSE / SMM Asset Class:  Energy MLP Funds 1 YR Lipper Avg:  -48.02%

Growth of $10K

Avg Annual Total Return %
  10 YR 5 YR 1 YR YTD
Market Return -- -0.80% -34.07% 7.03%
Lipper Pct. Rank -- 23 11 53
NAV Return -- 0.54% -26.66% 4.89%
Lipper Pct. Rank -- 27 15 50
Premium/Discount History

10 YR Avg 5 YR Avg YTD Avg
-- -13.263% -26.160%

NAV $6.01 Market Price $4.57
Net Change -$0.23 Market Change -$0.17
Premium/Discount -23.96%
1 YR NAV Return -26.664%
1 YR NAV Rank 15
12-Mo Yield as of 12/31/2020 Yield Def
Income Only Yield 0.00%
Distribution Yield (Market) 8.22%
Most Recent Income Dividend $0.060
Ex-Div Date 11/16/2020
Most Recent Cap Gain Dividend $0.141
Ex-Div Date 11/15/2019
Dividend Frequency Quarterly
YTD Dividends $0.351
YTD Capital Gains --
Inception Date 5/24/2012
Fund Advisor Salient Capital Advisors LLC
Manager & Tenure Gardner since 2012
Reid since 2012
Phone 800-809-0525
Total Net Assets (mil) as of 12/31/2020 $101.6
% Leveraged Assets as of 11/30/2019 30.92%
Portfolio Turnover 115.00%
Mgmt Fees 1.854%
Expense Ratio 3.200%
Fund Objective
The Fund seeks providing high level of total return with an emphasis on making quarterly cash distributions to its Common Shareholders. It seeks to achieve its objective by investing at least 80% of its total assets in securities of Midstream Companies and MLPs. It may invest in equity or debt securities of MLPs.
Top Holdings (as of 11/30/2020)
Pembina Pipeline Corp ORD 8.56%
Enbridge Inc ORD 6.55%
Williams Companies Inc ORD 6.44%
Enterprise Products Partners LP 5.67%
Keyera Corp ORD 5.31%
Plains GP Holdings LP ORD 5.08%
Nextera Energy Partners LP 5.05%
TC Energy Corp ORD 4.97%
Equitrans Midstream Corp ORD 4.71%
MPLX LP 4.69%
Top Sectors (as of 11/30/2020)
Oil & Gas 61.90%
Non Classified Equity 5.60%
Utilities 2.61%


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