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KYN, TYG, CEM: How MLP Closed-End Funds Have Performed in 2018

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Kayne Anderson

The Kayne Anderson MLP/Midstream Investment Company (KYN) has generated YTD returns of -3.5%. The fund offers a yield of ~10.1% and has $3.3 billion of assets under management. The fund has 73% of its portfolio invested in midstream MLPs, 25% in midstream companies, 1% in MLP GPs (general partners), and 1% in shipping MLPs.

Enterprise Products Partners (EPD), Energy Transfer Partners (ETP), and Williams Companies (WMB) are the fund’s top three holdings, which together form 32.4% of its portfolio.

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Tortoise Energy Infrastructure

Tortoise Energy Infrastructure (TYG) has generated YTD returns of -3.2%, has $2.0 billion of assets under management, and yields ~9.7%. The fund invests 85% of its assets in MLPs. ETP, Magellan Midstream Partners (MMP), and Andeavor Logistics (ANDX) are the fund’s top three holdings.

ClearBridge Energy MLP Fund

ClearBridge Energy MLP Fund (CEM) has generated YTD returns of -4%. The fund has $1.5 billion of assets under management and yields ~9.8%. EPD, ETP, and ONEOK (OKE) are the fund’s top three holdings, accounting for ~25.7% of its portfolio.

The Tortoise MLP Fund (NTG) and the First Trust MLP and Energy Income Fund (FEI) have generated YTD returns of -5.7% and -13.3%, respectively. NTG and FEI have dividend yields of 10.5% and 9.6%, respectively. The Tortoise MLP Fund invests 82% in MLPs and 15% in midstream c-corporations or LLCs.

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