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Earlier this year, master limited partnerships MLPs were drubbed after the Federal Energy Regulatory Commission FERC moved to prevent interstate oil and natural gas pipelines from recovering the income tax allowance on cost of service rates.
Fast-forward to July and the regulatory environment for MLPs became more sanguine. Last month, FERC softened the March ruling, providing pipeline operators with four options to deal with changes to revenue requirements resulting from the tax reform legislation passed late last year. The final rule also encourages pipelines to file an addendum to the FERC G to reflect their individual financial situation.
Regulatory issues are often burdensome to share prices, regardless of asset class. Investors looking to take advantage of the more favorable regulatory environment for MLPs have options to consider. Alerian July 19, https: The prospectus contains this and other important information. Please read the prospectus carefully before investing. For additional information on the above listed funds, please click the respective link.
Shares are not individually redeemable and the owners of shares may purchase or redeem shares from a fund in creation units blocks of 50, shares only.
The content and opinions expressed in this article are that of the author and not the views and opinions of ALPS Advisors, Inc. The author is not an investment professional and this article should not be considered investment advice. While the information and statistical data contained herein are based on sources believed to be reliable, the author takes no responsibility to ensure the accuracy of the content. Additionally, this article should not be relied on or be the basis for an investment decision.
Information that is historical is not indicative of future results, and subject to change. Investments in securities of MLPs involve risks that differ from an investment in common stock. MLPs are controlled by their general partners, which generally have conflicts of interest and limited fiduciary duties to the MLP, which may permit the general partner to favor its own interests over the MLPs.
As a partnership, an MLP has no federal income tax liability at the entity level. Legislative, judicial, or administrative changes and differing interpretations, possibly on a retroactive basis, could negatively impact the value of an investment in MLPs and therefore the value of your investment in the Fund.
The funds invest primarily in a particular sector and could experience greater volatility than a fund investing in a broader range of industries. A bull market is a financial market in which prices are rising or are expected to rise. For actively managed funds, the filing asked for exemptive relief for funds that could hold stocks, bonds, open-end funds, closed-end funds and unit investment trusts. The strategy for J. The actively managed fund would have a fundamental weighting.
Currently, the bank runs the J. The AMJ tracks the market of master limited partnerships. MLP are partnerships that sell shares like a public company.
The filings were first reported on the news feed at ExchangeTradedFunds. The other half from increased valuations. From six fixed income ETFs in to 92 today. This has led to significant growth of full-service dealers using ETFs in portfolio models. Gabriel Hammond, the chairman and founder of Alerian, the index provider for the J. MLP stands for master limited partnerships, a company with a different tax structure than a public corporation.
These often focus on the energy and oil sector. He says the big advantage ETFs have over closed-end funds is their liquidity and transparency. Probably most important, investors could pay up to basis points more than an ETF to own the top ten holdings in the MLP space in an closed-end fund.
Morgan Chase is jumping into the ETF business.