Credit Suisse has selected Harrington Cooper, the specialist fund firm, to manage the distribution of its Master Limited Partnership (MLP) Index Fund in the UK and Channel Islands.
The fund, which primarily invests in the US energy infrastructure sector, has been previously confined only to the US.
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Master Limited Partnerships (MLP) will combine the tax benefits of a limited partnership with the liquidity of publicly traded securities and are publicly traded on US securities exchanges.
Under the partnership, both the firm’s should generate at least 90% of its income from midstream activities related to the production, processing or transportation of oil, natural gas and coal.
Credit Suisse has teamed up with Cushing MLP Asset Management for this Index Fund, which tracks the Cushing MLP Market Cap Index that currently yields 5.6% and is UCITS compliant.
Harry Dickinson Harrington Cooper partner said: "The UK market is in a good position to embrace MLPs due to the highly attractive yield and capital growth that they can offer investment portfolios which are, at present, struggling to find both quality income and secular growth themes.
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By GlobalData"The Credit Suisse MLP Index fund provides investors with access to the US shale gas revolution via exceptional high-yielding infrastructure assets, fundamental to the continued growth of the US oil and gas sector," he added.
