Important notice about RMLPX 2022 capital gains distribution:
Thank you for your interest in RMLPX.
Today (as of November 18), RMLPX remains in a realized capital loss position, and fund turnover has been lower than normal YTD (~10%).
Based on currently available data, we do not expect RMLPX to pay a taxable distribution on realized capital gains or an excise distribution on income received in 2022.
For obvious reasons, neither we nor any fund can ever forecast future realized capital gains.
RMLPX paid its $0.325 quarterly distribution on December 19th.
Please feel free to contact us at email@example.com or 1-833-RECURRENT for any additional questions.
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RECURRENT MLP & INFRASTRUCTURE FUND (RMLPX)
0.90% management fee; 1.25% total expense.
Objective: Total return and current income from MLP and pipeline infrastructure investments.
Structure: Registered investment company (RIC); RMLPX is a 1099 issuer; does not issue K-1s.
Dividends²: Quarterly, $0.325 last paid September 2022. Dividends have historically been primarily taxable as returns of capital (not taxable when received) or qualified dividends (taxable at capital gain rates).
PORTFOLIO MANAGEMENT TEAM
- Lead Portfolio Manager: Brad Olsen
Relevant Experience: Olsen offers 16 years of MLP & infrastructure investment experience, overseeing midstream investments at BPCFA, plus experience at Eagle Global and Millennium.
As head of midstream research at TPH, Olsen received several awards for stock picking excellence from the Financial Times, WSJ and Starmine in 2013 and 2014.
- Co-Portfolio Manager: Mark Laskin
Relevant Experience: Laskin offers 27 years of investing and portfolio management experience, including overseeing energy investments at BP Capital Fund Advisors, Invesco, and Van Kampen.
As CIO of BPCFA, Laskin grew AUM from $45mm to nearly $400mm during 2013-16, as a result of strong risk-adjusted performance in BPCFA's Energy and MLP strategies.
1. © 2022 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Morningstar Percentile Rankings are based on the average annual total returns of the funds in the category for the periods stated and do not include any sales charges or redemption fees. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100. Rankings for each share class will vary due to different expenses.
2. Dividends are subject to change and there is no assurance that they will continue to be paid.
3. The Fund's advisor has contractually agreed to reduce its fees to 1.25% until March 1, 2023. Without the waiver, total annual operating expenses would be 1.25% for RMLPX per the current prospectus (waiver was not used in the fiscal year ended October 31, 2021).