Salient MLP & Energy Infrastructure Fund
Data updated: 2022-11-17
C000114664 — Salient MLP & Energy Infrastructure Fund. United States Blend / Core Energy Equity · $959.38M AUM. Holdings, fees, performance and SEC filings.
C000114664 Fund Overview
Salient MLP & Energy Infrastructure Fund is a US mutual fund managed by Salient MF Trust, categorised as United States Blend / Core Energy Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Salient MF Trust
- Category: United States Blend / Core Energy Equity
- Assets under management: $959.38M
- 1-year return: -6.7%
- SEC CIK: 0001535174
- SEC series ID: S000037231
- Share class ID: C000114664
C000114664 Investment Objective and Strategy
Salient MLP & Energy Infrastructure Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Salient MF Trust.
Investment objective
The Fund seeks to maximize total return (capital appreciation and income).
Principal investment strategy
Under normal circumstances, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets (plus the amount of borrowings, if any, for investment purposes) in securities of MLPs and Energy Infrastructure Companies. The Fund invests in equity securities such as common units, preferred units, subordinated units, general partner interests, common shares and preferred shares in MLPs and Energy Infrastructure Companies. The Fund also may invest in investment grade debt securities issued by MLPs and Energy Infrastructure Companies of any maturity. The Fund may invest in MLPs and Energy Infrastructure Companies of any market capitalization ranges. The Fund is non-diversified, which means that it may invest in a limited number of issuers. MLPs are entities structured as master limited partnerships.
Master limited partnerships are limited partnerships and limited liability companies that are publicly traded and are treated as partnerships for federal income tax purposes. Energy Infrastructure Companies are companies including affiliates of MLPs, that own and operate assets that are used in the energy sector, including assets used in exploring, developing, producing, generating, transporting (including marine), transmitting, terminal operation, storing, gathering, processing, refining, distributing, mining or marketing of natural gas, natural gas liquids, crude oil, refined products, coal or electricity, or that provide energy-related services. For purposes of this definition, such companies (i) derive at least 50% of their revenues or operating income from operating such assets or providing services for the operation of such assets or (ii) have such assets that represent the majority of their assets.
The Fund will invest at least 50% of its total assets in Midstream MLPs and Midstream Energy Infrastructure companies. Midstream MLPs are MLPs that principally own and operate assets used in energy logistics, including, but not limited to, assets used in transporting (including marine), storing, gathering, processing, distributing or marketing of natural gas, natural gas liquids, crude oil or refined products. Midstream Energy Infrastructure Companies are companies, other than Midstream MLPs, that own and operate assets used in energy logistics, including, but not limited to, assets used in transporting (including marine), storing, gathering, processing, distributing or marketing of natural gas, natural gas liquids, crude oil or refined products. The Funds investments in the securities of MLPs, at the time of investment, will not exceed 25% of total assets as measured at the time of investment.
The Fund may engage in covered call writing. The Fund currently expects to write call options for the purpose of generating realized gains or reducing the Funds ownership of certain securities. The Fund will only write call options on securities that are held in the portfolio (i.e., covered calls). The Fund may borrow to purchase securities, which would have the effect of adding leverage to the portfolio. Salient Capital Advisors, LLCs (Salient Capital or the Advisor) investment process is designed to generate returns by investing in a portfolio of publicly-traded MLPs and Energy Infrastructure Companies. Returns are typically driven by the distribution yield plus expected annual growth in the cash distributions. The Advisor maintains proprietary business valuation models and analyzes key variables such as cash flow stability, growth profile, commodity price sensitivity, balance sheet strength, hedging profile, management strength, competitive landscape and other factors.
The Advisor employs a bottom up research-driven stock selection process with an emphasis on the opportunity set and growth prospects for each target investment. Changes in the laws of the United States, including tax laws and regulations, could result in the inability of the Fund to operate as described in this prospectus and the Statement of Additional Information (SAI) and could adversely affect the Fund (see Tax Law Change Risk below).
C000114664 Performance
Total returns for C000114664 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -6.7% |
| 3 years (annualised) | -8.2% |
C000114664 Risk Information
Risk metrics for C000114664, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 26.9%
C000114664 Costs and Fees
C000114664 costs about $230 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.30%
- Gross expense ratio: 2.30%
- Portfolio turnover: 248%
- Brokerage commissions: 44.42 bps of average net assets (SEC N-CEN)
C000114664 Cashflows
Over the 12 months to 2022-09, Salient MLP & Energy Infrastructure Fund had net inflows of $120.77M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-09 | −$50.62M |
| 2022-08 | $10.27M |
| 2022-07 | $14.58M |
| 2022-06 | $5.03M |
| 2022-05 | $18.33M |
| 2022-04 | $32.94M |
C000114664 Debt Constituents
No individual debt constituents are reported in Salient MLP & Energy Infrastructure Fund's latest SEC N-PORT filing.
C000114664 Prospectus and SEC Filings
Official Salient MLP & Energy Infrastructure Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-04-29
- Prospectus (485BPOS) — filed 2021-04-30
- Prospectus (485BPOS) — filed 2020-05-20
- Portfolio holdings (N-PORT) — filed 2022-11-17
- Portfolio holdings (N-PORT) — filed 2022-08-25
- Portfolio holdings (N-PORT) — filed 2022-05-25
- Annual census (N-CEN) — filed 2022-03-11
- Annual census (N-CEN) — filed 2021-03-05
Related Funds
Other United States Blend / Core Energy Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.