Bringing you live news and features since 2006 

Tortoise Capital Advisors introduces first open-end mutual fund


Tortoise Capital Advisors has introduced Tortoise MLP & Pipeline Fund, its first open-end mutual fund. The fund will invest primarily in equity securities of MLP and pipeline companies that own and operate essential North American energy infrastructure assets, with an investment objective of total return.

“We continue to see a need for substantial growth capital as pipeline and related infrastructure projects are expected to facilitate the transportation of natural gas and oil from new supply areas to growing population destinations across North America,” says Tortoise Senior Advisor, Jeffrey Fulmer. “We believe this creates a compelling investment opportunity in the coming decades.”

The fund is structured as a traditional mutual fund providing daily liquidity at NAV, with flow-through tax treatment and no fund level taxation. Simplified tax reporting is provided to investors through a single 1099. Investor and Institutional Class shares are available under the symbols TORTX and TORIX, respectively.

“We at Tortoise are pleased to launch our first open-end mutual fund,” says Tortoise Senior Managing Director, Kevin Birzer. “We believe the Tortoise MLP & Pipeline Fund’s traditional flow-through structure, combined with its investment focus on essential energy infrastructure pipeline companies, makes it a differentiated and efficient open-end fund.”

Latest News

BlackRock's iShares, an undisputed leader among European ETF issuers, pushed further ahead in Q1 with EUR173 billion in trades, triple..
European ETFs raised USD47.8 billion in Q1, a 15 per cent increase compared to the same period in 2023, according..
LSEG Lipper’s March report finds that globally equity ETFs (+EUR113.2 billion) enjoyed the highest estimated net inflows for the month,..
Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..

Related Articles

etf active trading
Latest Morningstar data shows actively managed ETFs’ share of the US ETF market rose to 8.5 per cent at the...
Kristen Mierzwa, FTSE Russell
Index Investments Group (IIG), a division within index provider FTSE Russell, has extended its range of indices through two new...
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by