Mutual Funds
MLP & Energy Income Fund
The Advisory Research MLP & Energy Income Fund invests in publicly traded equity and debt securities of master limited partnerships (MLPs) and in equity and debt securities of other companies focused in the energy infrastructure sector.
The Fund will purchase securities across the capital structure of MLPs and their affiliates with the goal of providing greater liquidity and lower volatility with a high correlation to MLP returns. The Fund seeks to provide investors with the following benefits:
- MLP and energy infrastructure portfolio with an increased opportunity set by investing across the capital structure.
- Opportunistic midstream focus.
- 1099 tax reporting – no K-1s, state tax filings, Unrelated Business Taxable Income (“UBTI”) or fund-level taxation.
- Seeks a higher level of current income.
Read about the advantages of the Advisory Research MLP & Energy Income Fund RIC structure.
Fund Facts | |||
Ticker | INFRX | INFFX | INFIX |
Share Class: | A | C | I |
CUSIP | 461418543 | 461418238 | 461418535 |
Inception | 5/18/11 | 4/2/12 | 12/27/10 |
Minimum Investment | $2,500 | $2,500 | $2,500 - $1,000,000* |
Gross Expense Ratio | 1.40% | 2.15% | 1.15% |
Total Net Assets (all classes) | $711 million | ||
Portfolio Managers | Jim Cunnane and Quinn Kiley |
Top 10 Holdings | |
Kinder Morgan, Inc. | 6.77% |
Tallgrass Energy LP | 6.30% |
Plains GP Holdings LP | 6.03% |
ONEOK, Inc. | 5.22% |
The Williams Companies, Inc. | 5.05% |
Targa Resources Corp. | 4.65% |
Enbridge Incorporated | 4.21% |
TransCanada Corporation | 3.96% |
Energy Transfer LP | 3.92% |
PBF Holding Co. LLC 7.25% Due 6/15/25 | 3.61% |
Total | 49.72% |
Asset Allocation | |
74.37% MLP & Energy Infrastructure Equities:74.37|25.48% High Yield Bonds:25.48|0.15% Cash & Equivalents: 0.15%
|
*Depending on agreements at broker and/or custodian.
Asset Allocation as of December 31, 2018.
All data as of the most recent quarter-end unless otherwise stated.
Holdings are subject to change.
The fund's gross expense ratio is 1.40% for the A share, 2.15% for the C share and 1.15% for the I share.
*Inception date: Class A: 05/18/2011; Class C 4/2/2012; Class I: 12/27/2010.
All data as of the most recent quarter-end unless otherwise stated.
Performance for periods over one year is annualized. The performance data quoted here represents past performance. Past performance is no guarantee of future results. Investment return and principal value will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance information quoted. A redemption fee of 2.00% will be imposed on redemptions or exchanges of shares you have owned for 90 days or less.
The Fund’s advisor has contractually agreed to waive its fees and/or absorb expenses of the Fund to ensure that total annual fund operating expenses (excluding taxes, leverage interest, brokerage commissions, dividend expenses on short sales, acquired fund fees and expenses as determined in accordance with Form N-1A, expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation) do not exceed “Gross Expense Ratio” listed on the Portfolio tab. This agreement is in effect until March 31, 2018, and it may be terminated before that date only by the Trust’s Board of Trustees. The Fund’s advisor is permitted to seek reimbursement from the Fund, subject to limitations, for fees it waived and Fund expenses it paid for three years from the date of any such waiver or payment. Performance would have been lower without fee waivers in effect.
The Alerian MLP Index is a leading gauge of energy Master Limited Partnerships (MLPs). The capped, float-adjusted, capitalization-weighted index, whose constituents represent approximately 85% of total float-adjusted market capitalization, is disseminated real-time on a price-return basis (AMZ) and on a total-return basis (AMZX).
Fact Sheet |
Commentary |
Prospectus and SAI |
Reports |
Applications/Forms |
- Account Application
- Beneficial Ownership Form
- IRA Application Form
- IRA Transfer Form
- Roth IRA Custodial Amendment
- Traditional IRA Custodial Amendment
- Account Privileges Change Form
- Cost Basis Election Form
- Traditional IRA Custodial Agreement
- Roth IRA Custodial Agreement
- 2018 MLP & Energy Income Fund Tax Form 8937
- 2017 MLP & Energy Income Fund Tax Form 8937
- 2016 MLP & Energy Income Fund Tax Form 8937
- 2015 MLP & Energy Income Fund Tax Form 8937
- 2014 MLP & Energy Income Fund Tax Form 8937
- 2013 MLP & Energy Income Fund Tax Form 8937
- 2012 MLP & Energy Income Fund Tax Form 8937
The MLP & Energy Income Fund intends to make distributions quarterly and net capital gains, if any, at least annually.
Fund Ticker | Record Date | Ex-dividend Date | Payment Date | Distribution Rate/share | |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 12/27/18 | 12/28/18 | 12/28/18 | 0.01187 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 12/27/18 | 12/28/18 | 12/28/18 | 0.01154 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 12/27/18 | 12/28/18 | 12/28/18 | 0.01053 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 11/28/18 | 11/29/18 | 11/29/18 | 0.1776 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 11/28/18 | 11/29/18 | 11/29/18 | 0.1758 | Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 11/28/18 | 11/29/18 | 11/29/18 | 0.1615 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 8/29/18 | 8/30/18 | 8/30/18 | 0.1776 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 8/29/18 | 8/30/18 | 8/30/18 | 0.1750 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 8/29/18 | 8/30/18 | 8/30/18 | 0.1586 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 5/29/18 | 5/30/18 | 5/30/18 | 0.1776 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 5/29/18 | 5/30/18 | 5/30/18 | 0.1756 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 5/29/18 | 5/30/18 | 5/30/18 | 0.1600 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 2/26/18 | 2/27/18 | 2/27/18 | 0.1776 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 2/26/18 | 2/27/18 | 2/27/18 | 0.1755 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 2/26/18 | 2/27/18 | 2/27/18 | 0.1595 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 12/27/17 | 12/28/17 | 12/28/17 | 0.0069 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 12/27/17 | 12/28/17 | 12/28/17 | 0.0052 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 12/27/17 | 12/28/17 | 12/28/17 | 0.0052 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 11/28/17 | 11/29/17 | 11/29/17 | 0.1776 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 11/28/17 | 11/29/17 | 11/29/17 | 0.1755 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 11/28/17 | 11/29/17 | 11/29/17 | 0.1595 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 8/29/17 | 8/30/17 | 8/30/17 | 0.1776 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 8/29/17 | 8/30/17 | 8/30/17 | 0.1751 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 8/29/17 | 8/30/17 | 8/30/17 | 0.1584 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 5/26/17 | 5/30/17 | 5/30/17 | 0.1776 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 5/26/17 | 5/30/17 | 5/30/17 | 0.1749 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 5/26/17 | 5/30/17 | 5/30/17 | 0.1570 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 2/24/17 | 2/27/17 | 2/27/17 | 0.1776 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 2/24/17 | 2/27/17 | 2/27/17 | 0.1743 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 2/24/17 | 2/27/17 | 2/27/17 | 0.1554 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 12/28/16 | 12/29/16 | 12/29/16 | 0.00359 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 12/28/16 | 12/29/16 | 12/29/16 | 0.00156 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 12/28/16 | 12/29/16 | 12/29/16 | 0.00000 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 11/28/16 | 11/29/16 | 11/29/16 | 0.1776 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 11/28/16 | 11/29/16 | 11/29/16 | 0.1744 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 11/28/16 | 11/29/16 | 11/29/16 | 0.1561 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 8/29/16 | 8/30/16 | 8/30/16 | 0.1776 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 8/29/16 | 8/30/16 | 8/30/16 | 0.1744 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 8/29/16 | 8/30/16 | 8/30/16 | 0.1561 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 5/26/16 | 5/27/16 | 5/27/16 | 0.1776 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 5/26/16 | 5/27/16 | 5/27/16 | 0.1746 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 5/26/16 | 5/27/16 | 5/27/16 | 0.1575 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 2/25/16 | 2/26/16 | 2/26/16 | 0.1776 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 2/25/16 | 2/26/16 | 2/26/16 | 0.1762 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 2/25/16 | 2/26/16 | 2/26/16 | 0.1634 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 12/29/15 | 12/30/15 | 12/30/15 | 0.02624 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 12/29/15 | 12/30/15 | 12/30/15 | 0.02443 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 12/29/15 | 12/30/15 | 12/30/15 | 0.01913 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 11/23/15 | 11/24/15 | 11/24/15 | 0.1763 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 11/23/15 | 11/24/15 | 11/24/15 | 0.1732 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 11/23/15 | 11/24/15 | 11/24/15 | 0.1558 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 8/27/15 | 8/28/15 | 8/28/15 | 0.1750 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 8/27/15 | 8/28/15 | 8/28/15 | 0.1709 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 8/27/15 | 8/28/15 | 8/28/15 | 0.1496 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 5/27/15 | 5/28/15 | 5/28/15 | 0.1737 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 5/27/15 | 5/28/15 | 5/28/15 | 0.1679 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 5/27/15 | 5/28/15 | 5/28/15 | 0.1420 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 2/25/15 | 2/26/15 | 2/26/15 | 0.1724 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 2/25/15 | 2/26/15 | 2/26/15 | 0.1666 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 2/25/15 | 2/26/15 | 2/26/15 | 0.1409 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 12/29/14 | 12/30/14 | 12/30/14 | 0.0163 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 12/29/14 | 12/30/14 | 12/30/14 | 0.0136 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 12/29/14 | 12/30/14 | 12/30/14 | 0.0052 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 11/24/14 | 11/25/14 | 11/25/14 | 0.3701 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 11/24/14 | 11/25/14 | 11/25/14 | 0.3669 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 11/24/14 | 11/25/14 | 11/25/14 | 0.3394 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 08/27/14 | 08/28/14 | 08/28/14 | 0.1698 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 08/27/14 | 08/28/14 | 08/28/14 | 0.1631 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 08/27/14 | 08/28/14 | 08/28/14 | 0.1345 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 05/28/14 | 05/29/14 | 05/29/14 | 0.1685 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 05/28/14 | 05/29/14 | 05/29/14 | 0.1625 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 05/28/14 | 05/29/14 | 05/29/14 | 0.1363 |
Adv. Research MLP & Energy Inc. Fund – Cl. I | INFIX | 02/26/14 | 02/27/14 | 02/27/14 | 0.1672 |
Adv. Research MLP & Energy Inc. Fund – Cl. A | INFRX | 02/26/14 | 02/27/14 | 02/27/14 | 0.1617 |
Adv. Research MLP & Energy Inc. Fund – Cl. C | INFFX | 02/26/14 | 02/27/14 | 02/27/14 | 0.1370 |
FAMCO MLP & Energy Income Fund – Class I | INFIX | 12/26/13 | 12/27/13 | 12/27/13 | 0.0166 |
FAMCO MLP & Energy Income Fund – Class A | INFRX | 12/26/13 | 12/27/13 | 12/27/13 | 0.0136 |
FAMCO MLP & Energy Income Fund – Class C | INFFX | 12/26/13 | 12/27/13 | 12/27/13 | 0.0045 |
FAMCO MLP & Energy Income Fund – Class I | INFIX | 11/25/13 | 11/26/13 | 11/26/13 | 0.166 |
FAMCO MLP & Energy Income Fund – Class A | INFRX | 11/25/13 | 11/26/13 | 11/26/13 | 0.1398 |
FAMCO MLP & Energy Income Fund – Class C | INFFX | 11/25/13 | 11/26/13 | 11/26/13 | 0.0963 |
FAMCO MLP & Energy Income Fund – Class I | INFIX | 8/28/13 | 8/29/13 | 8/29/13 | 0.1648 |
FAMCO MLP & Energy Income Fund – Class A | INFRX | 8/28/13 | 8/29/13 | 8/29/13 | 0.1472 |
FAMCO MLP & Energy Income Fund – Class C | INFFX | 8/28/13 | 8/29/13 | 8/29/13 | 0.1116 |
FAMCO MLP & Energy Income Fund – Class I | INFIX | 5/29/13 | 5/30/13 | 5/30/13 | 0.1636 |
FAMCO MLP & Energy Income Fund – Class A | INFRX | 5/29/13 | 5/30/13 | 5/30/13 | 0.1521 |
FAMCO MLP & Energy Income Fund – Class C | INFFX | 5/29/13 | 5/30/13 | 5/30/13 | 0.1265 |
FAMCO MLP & Energy Income Fund – Class I | INFIX | 2/26/13 | 2/27/13 | 2/27/13 | 0.1624 |
FAMCO MLP & Energy Income Fund – Class A | INFRX | 2/26/13 | 2/27/13 | 2/27/13 | 0.1568 |
FAMCO MLP & Energy Income Fund – Class C | INFFX | 2/26/13 | 2/27/13 | 2/27/13 | 0.1412 |
FAMCO MLP & Energy Income Fund – Class I | INFIX | 12/27/12 | 12/28/12 | 12/28/12 | 0.0128 |
FAMCO MLP & Energy Income Fund – Class A | INFRX | 12/27/12 | 12/28/12 | 12/28/12 | 0.0103 |
FAMCO MLP & Energy Income Fund – Class C | INFFX | 12/27/12 | 12/28/12 | 12/28/12 | 0.0053 |
FAMCO MLP & Energy Income Fund – Class I | INFIX | 11/28/12 | 11/29/12 | 11/29/12 | 0.1612 |
FAMCO MLP & Energy Income Fund – Class A | INFRX | 11/28/12 | 11/29/12 | 11/29/12 | 0.1544 |
FAMCO MLP & Energy Income Fund – Class C | INFFX | 11/28/12 | 11/29/12 | 11/29/12 | 0.1404 |
FAMCO MLP & Energy Income Fund – Class I | INFIX | 8/29/12 | 8/30/12 | 8/30/12 | 0.16 |
FAMCO MLP & Energy Income Fund – Class A | INFRX | 8/29/12 | 8/30/12 | 8/30/12 | 0.1542 |
FAMCO MLP & Energy Income Fund – Class C | INFFX | 8/29/12 | 8/30/12 | 8/30/12 | 0.1446 |
FAMCO MLP & Energy Income Fund – Class I | INFIX | 5/29/12 | 5/30/12 | 5/30/12 | 0.1588 |
FAMCO MLP & Energy Income Fund – Class A | INFRX | 5/29/12 | 5/30/12 | 5/30/12 | 0.1526 |
FAMCO MLP & Energy Income Fund – Class C | INFFX | 5/29/12 | 5/30/12 | 5/30/12 | 0.1000 |
FAMCO MLP & Energy Income Fund – Class I | INFIX | 2/27/12 | 2/28/12 | 2/28/12 | 0.1504 |
FAMCO MLP & Energy Income Fund – Class A | INFRX | 2/27/12 | 2/28/12 | 2/28/12 | 0.1500 |
FAMCO MLP & Energy Income Fund – Class I | INFIX | 11/29/11 | 11/30/11 | 11/30/11 | 0.15 |
FAMCO MLP & Energy Income Fund – Class A | INFRX | 11/29/11 | 11/30/11 | 11/30/11 | 0.15 |
FAMCO MLP & Energy Income Fund – Class I | INFIX | 8/30/11 | 8/31/11 | 8/31/11 | 0.15 |
FAMCO MLP & Energy Income Fund – Class A | INFRX | 8/30/11 | 8/31/11 | 8/31/11 | 0.15 |
FAMCO MLP & Energy Income Fund – Class I | INFIX | 5/27/11 | 5/31/11 | 5/31/11 | 0.15 |
FAMCO MLP & Energy Income Fund – Class I | INFIX | 2/25/11 | 2/28/11 | 2/28/11 | 0.1 |
James Cunnane Jr., CFAManaging Director, Chief Investment Officer![]() Jim Cunnane, 26 years of investment experience, serves as a Managing Director and Chief Investment Officer of the Advisory Research MLP & Energy Infrastructure team. Jim oversees the firm’s MLP and energy infrastructure product lines and chairs the Risk Management Committee. Jim joined the MLP team in 1996 and currently serves as a portfolio manager for the team's MLP & Energy Infrastructure accounts. Jim holds a BS in finance from Indiana University and is a Chartered Financial Analyst (CFA®) charterholder. He serves as an independent trustee to several institutional investment plans and is a member of the Board of Directors of St. Patrick’s Center. |
Quinn KileyManaging Director, Senior Portfolio Manager![]() Quinn Kiley, 18 years of investment experience, serves as a Managing Director and Senior Portfolio Manager of the Advisory Research MLP & Energy Infrastructure team. His responsibilities include portfolio management of various energy infrastructure assets and oversight of the energy infrastructure research process. Quinn joined the MLP team in 2005. Prior to that, Quinn served as Vice President of Corporate & Investment Banking at Banc of America Securities in New York. He was responsible for executing strategic advisory and financing transactions for clients in the Energy & Power sectors. Quinn holds a BS with honors in geology from Washington & Lee University, an MS in geology from the University of Montana, a JD from Indiana University School of Law, and an MBA from the Kelley School of Business at Indiana University. Quinn has been admitted to the New York State Bar. He serves on the finance committees of Rossman School and the Magic House. |
Advisory Research Funds are distributed by IMST Distributors, LLC.
Performance as of Dec 31, 2018
Monthly Fund Performance | ||||||
1 Month | Year to Date | 1 Year | 3 Year | 5 Year | Since Inception* | |
Alerian MLP Index (TR) Class I | -9.36% | -12.42% | -12.42% | -1.06% | -7.31% | 0.73% |
Advisory Research MLP & Energy Income Fund | -8.45% | -14.61% | -14.61% | 2.93% | -4.62% | 1.99% |
Advisory Research MLP & Energy Income Fund Class A | -8.31% | -14.68% | -14.68% | 2.70% | -4.84% | 1.77% |
Advisory Research MLP & Energy Income Fund Class C | -8.56% | -15.41% | -15.41% | 1.87% | -5.59% | 1.08% |
Performance as of Dec 31, 2018
Quarterly Fund Performance | ||||||
3 Months | Year to Date | 1 Year | 3 Year | 5 Year | Since Inception* | |
Alerian MLP Index (TR) Class I | -17.30% | -12.42% | -12.42% | -1.06% | -7.31% | 0.73% |
Advisory Research MLP & Energy Income Fund | -15.89% | -14.61% | -14.61% | 2.93% | -4.62% | 1.99% |
Advisory Research MLP & Energy Income Fund Class A | -15.87% | -14.68% | -14.68% | 2.70% | -4.84% | 1.77% |
Advisory Research MLP & Energy Income Fund Class C | -16.12% | -15.41% | -15.41% | 1.87% | -5.59% | 1.08% |