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Salient Midstream & MLP Fund  as of 11/15/2019

NYSE / SMM Asset Class:  Energy MLP Funds 1 YR Lipper Avg:  -10.09%

Growth of $10K

Avg Annual Total Return %
  10 YR 5 YR 1 YR YTD
Market Return -- -15.79% -9.36% 4.14%
Lipper Pct. Rank -- 78 37 37
NAV Return -- -14.82% -9.81% 3.87%
Lipper Pct. Rank -- 78 48 53
Premium/Discount History

Premium/Discount
10 YR Avg 5 YR Avg YTD Avg
-- -10.694% 7.240%

NAV $8.48 Market Price $7.07
Net Change -$0.05 Market Change -$0.07
Premium/Discount -16.63%
1 YR NAV Return -9.805%
1 YR NAV Rank 48
12-Mo Yield as of 10/31/2019 Yield Def
Income Only Yield 0.00%
Distribution Yield (Market) 9.42%
Most Recent Income Dividend $0.171
Ex-Div Date 8/15/2019
Most Recent Cap Gain Dividend $0.158
Ex-Div Date 11/14/2018
Dividend Frequency Quarterly
YTD Dividends $0.513
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
Website www.salientpartners.com
Total Net Assets (mil) as of 10/31/2019 $155.0
% Leveraged Assets as of 11/30/2018 29.30%
Portfolio Turnover 25.00%
Mgmt Fees 1.775%
Expense Ratio 3.260%
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 9/30/2019)
Energy Transfer LP 11.95%
Williams Companies Inc ORD 10.73%
Enbridge Inc ORD 10.65%
Targa Resources Corp ORD 9.90%
Macquarie Infrastructure Corp ORD 6.97%
TC Energy Corp ORD 6.53%
Plains GP Holdings LP ORD 6.37%
Equitrans Midstream Corp ORD 6.32%
Pembina Pipeline Corp ORD 6.25%
ONEOK Inc ORD 5.31%
Top Sectors (as of 9/30/2019)
Oil & Gas 75.52%
Non Classified Equity 14.55%
Industrials 6.97%

Resources

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