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Global X Funds launches third MLP ETF

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Global X Funds has launched the Global X MLP & Energy Infrastructure ETF on the NYSE Arca under the symbol MLPX.

MLPX, which is the Global X’s third exchange-traded fund to provide access to master limited partnerships (MLPs), has a management fee of 0.45 per cent, substantially lower than the industry average of 0.83 per cent.
 
According to Global X it will “seek to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive MLP & Energy Infrastructure Index.”
 
The index tracks the performance of midstream energy MLPs – which principally own and operate assets unwed in energy logistics, including pipelines, storage facilities, and other assets in the transportation, storing, gathering and processing of natural gas, natural gas liquids, crude oil or refined products – and MLP affiliates that own, directly or indirectly, MLP general partners interests.
 

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