MLP & Pipeline Fund (NASDAQ: TORTX)
The Tortoise MLP & Pipeline Fund focuses on the large and diverse North American pipeline universe. The fund invests primarily in MLP and pipeline companies that own and operate a network of asset systems that transport, store, distribute, gather and/or process crude oil, refined petroleum products (including biodiesel and ethanol), natural gas or natural gas liquids.
The fund is designed to provide:
Fund Details As of 3/31/2017
|Total assets||$2,966.9 million|
|Investment objective||Total return|
|Fiscal year end||November 30|
|Structure||Regulated Investment Company (RIC)|
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The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history without adjustment for sales load. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating™ for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating™ metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. As of 3/31/17 TORTX/TORIX was rated against the following number of Energy Limited Partnership funds over the following periods: 76 and 31 for the 3 year and 5 year time period. TORTX/TORIX received 5 stars and 5 stars for those periods, respectively. This rating is specific to TORTX/TORIX and does not apply to other share classes of the fund. Past performance is no guarantee of future results.
As of 04/24/2017
- $ 14.06
- $ Chg
- $ 0.10
- Total return
- Minimum investment
- Redemption fee
- Max front-end sales load1
- Max deferred sales load 2
- You may qualify for sales charge discounts if you invest at least $50,000.
- No front-end sales charge is payable on Investor Class investments of $1 million or more, although the fund may impose a Contingent Deferred Sales Charge ("CDSC") of 1% on certain redemptions made within 12 months of purchase.