The Fund has granted the underwriters an option to purchase additional common shares at the public offering price less the sales load within 45 days of the date of prospectus. Assuming full exercise of the underwriters’ option to purchase additional securities, which may or may not occur, overall sales totaled approximately $556 million. The Fund’s common shares began trading on Tuesday, March 26, 2013 on the New York Stock Exchange under the symbol "MIE."
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The Fund’s investment objective is to provide attractive total return, comprised of high current income and price appreciation. The Fund seeks to achieve its investment objective by investing primarily in MLPs and energy investments. The Fund is structured as a tax efficient vehicle in order to achieve its investment objective. Under normal market conditions, the Fund will invest at least 80% of its managed assets (i.e., net assets plus assets obtained through leverage) in MLPs and energy investments. The Fund initially intends to invest a significant portion of its assets in securities of midstream energy companies. The Fund’s investments in MLPs will be limited to 50% of its managed assets. It is anticipated the Fund will use leverage as part of its investment strategy.
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