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AMLPX MainGate MLP A

  • Fund
  • AMLPX
  • Price as of: Mar 22, 2019
  • $7.44
  • - $0.12
  • - 1.59%
  • Category
  • MLPs

AMLPX - Profile

Vitals

  • YTD Return 17.0%
  • 3 Yr Annualized Return -3.0%
  • 5 Yr Annualized Return -10.2%
  • Net Assets $1.26 B
  • Holdings in Top 10 69.3%

52 WEEK LOW AND HIGH

$7.44
$6.06
$8.74

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.66%

SALES FEES

  • Front Load 5.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 44.57%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

N/A

Investment Themes

CATEGORY

MLPs
  • Fund Type Open End Mutual Fund
  • Investment Style Energy Limited Partnership

Distributions

  • YTD Total Return 17.0%
  • 3 Yr Annualized Total Return -1.1%
  • 5 Yr Annualized Total Return -7.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -1.05%
DIVIDENDS
  • Dividend Yield 0.6%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name MainGate MLP Fund
  • Fund Family Name MainGate Trust
  • Inception Date Feb 17, 2011
  • Shares Outstanding 11415732
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Matthew G. Mead

Fund Description

The fund seeks to generate total return, comprised of capital appreciation and income, by investing in master limited partnership interests. It seeks to achieve its investment objective by investing at least 80% of its net assets (plus borrowings for investment purposes) in MLP interests under normal circumstances. MLPs are publicly traded partnerships primarily engaged in the transportation, storage, processing, refining, marketing, exploration, production, and mining of minerals and natural resources. Under normal circumstances, the fund concentrates its investments in MLPs in the energy sector. The fund is non-diversified.

AMLPX - Performance

Return Ranking - Trailing

Period AMLPX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 17.0% -32.1% 27.1% 40.28% 3
1 Yr -1.5% -69.5% 10.2% 75.00% 4
3 Yr -3.0% * -28.3% 14.1% 58.57% 4
5 Yr -10.2% * -22.1% -1.1% 51.56% 3
10 Yr N/A * N/A N/A N/A N/A

* Annualized


Return Ranking - Calendar

Period AMLPX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -28.0% -57.5% 110.3% 84.29% 5
2017 -14.1% -25.3% 54.6% 63.77% 4
2016 16.0% -36.6% 39.2% 44.93% 3
2015 -32.9% -57.7% 8.5% 27.54% 2
2014 7.1% -4.8% 10.5% 19.05% 1

Total Return Ranking - Trailing

Period AMLPX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 17.0% -32.1% 27.1% 40.28% 3
1 Yr -1.5% -69.5% 10.2% 73.61% 4
3 Yr -1.1% * -28.3% 14.1% 68.57% 4
5 Yr -7.5% * -20.2% -1.1% 57.81% 3
10 Yr N/A * N/A N/A N/A N/A

* Annualized


Total Return Ranking - Calendar

Period AMLPX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -28.0% -57.5% 110.3% 84.29% 5
2017 -14.1% -25.3% 54.6% 63.77% 4
2016 24.9% -33.5% 43.1% 39.13% 2
2015 -31.1% -57.2% 13.5% 26.09% 2
2014 14.5% 2.9% 23.1% 14.29% 1

NAV & Total Return History

AMLPX - Holdings

Filings data as of: Dec 31, 2018

Concentration Analysis

AMLPX Category Low Category High AMLPX % Rank Quintile
Net Assets 1.26 B 329 K 4.19 B 11.11% 3
Number of Holdings 23 16 58 19.44% 4
Net Assets in Top 10 707 M 240 K 2.61 B 11.11% 3
Weighting of Top 10 69.3% 37.5% 112.2% 9.72% 2

Top 10 Holdings

  1. EnLink Midstream LLC 4.79%
  2. Genesis Energy LP 6.52%
  3. Enterprise Products Partners LP 7.96%
  4. Targa Resources Corp 7.07%
  5. Energy Transfer LP 12.96%
  6. Williams Companies Inc 9.09%
  7. Buckeye Partners LP 5.12%
  8. Plains GP Holdings LP Class A 4.54%
  9. MPLX LP Partnership Units 6.24%
  10. Western Gas Equity Partners LP 5.05%

Asset Allocation

Weighting Category Low Category High AMLPX % Rank Quintile
Stocks
100.00% 62.61% 132.36% 5.56% 2
Preferred Stocks
0.00% 0.00% 2.78% 5.56% 5
Other
0.00% -35.31% 4.40% 9.72% 5
Convertible Bonds
0.00% 0.00% 0.05% 2.78% 5
Cash
0.00% -24.95% 27.88% 23.61% 5
Bonds
0.00% 0.00% 21.36% 6.94% 5

Stock Sector Breakdown

Weighting Category Low Category High AMLPX % Rank Quintile
Energy
100.00% 3.33% 128.15% 5.56% 2
Utilities
0.00% 0.00% 4.10% 20.83% 5
Technology
0.00% 0.00% 11.74% 2.78% 5
Real Estate
0.00% 0.00% 3.41% 2.78% 5
Industrials
0.00% 0.00% 7.58% 16.67% 5
Healthcare
0.00% 0.00% 8.87% 2.78% 5
Financial Services
0.00% 0.00% 11.25% 2.78% 5
Communication Services
0.00% 0.00% 0.98% 2.78% 5
Consumer Defense
0.00% 0.00% 3.59% 2.78% 5
Consumer Cyclical
0.00% 0.00% 7.11% 2.78% 5
Basic Materials
0.00% 0.00% 4.22% 9.72% 5

Stock Geographic Breakdown

Weighting Category Low Category High AMLPX % Rank Quintile
US
100.00% 55.02% 132.36% 5.56% 1
Non US
0.00% 0.00% 24.03% 23.61% 5

AMLPX - Expenses

Operational Fees

AMLPX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.66% 0.81% 7.62% 43.06% 3
Management Fee 1.25% 0.70% 1.25% 1.39% 5
12b-1 Fee 0.25% 0.00% 1.00% 10.42% 3
Administrative Fee N/A 0.03% 0.20% N/A N/A

Sales Fees

AMLPX Fees (% of AUM) Category Low Category High AMLPX Rank Quintile
Front Load 5.75% 4.50% 5.75% 4.55% 5
Deferred Load N/A 1.00% 1.00% N/A N/A

Trading Fees

AMLPX Fees (% of AUM) Category Low Category High AMLPX Rank Quintile
Max Redemption Fee N/A 2.00% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

AMLPX Fees (% of AUM) Category Low Category High AMLPX Rank Quintile
Turnover 44.57% 0.00% 75.00% 12.50% 4

AMLPX - Distributions

Dividend Yield Analysis

AMLPX Category Low Category High AMLPX % Rank Quintile
Dividend Yield 0.6% 0.04% 1.69% 13.89% 3

Dividend Distribution Analysis

AMLPX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

AMLPX Category Low Category High AMLPX % Rank Quintile
Net Income Ratio -1.05% -7.28% 8.30% 58.33% 3

Capital Gain Distribution Analysis

AMLPX Category Low Category High Capital Mode
Capital Gain Distribution Frequency N/A Annually Annually Annually

AMLPX - Managers

Matthew G. Mead

Manager

Start Date

Feb 17, 2011

Tenure

8.04

Tenure Rank

3.2%

Matthew G. Mead is a Principal of Chickasaw Capital Management LLC . Prior to co-founding the adviser in 2003, Mr. Mead joined Goldman Sachs & Co. in 1992 and served as a Vice President in the Private Wealth Management Group until 2001. Mr. Mead has advised families with substantial wealth throughout his career and began managing portfolios including MLP assets on a discretionary basis during his tenure at Goldman Sachs. He has diverse investment experience across public and private equity, fixed income, and derivative markets. In September 2001, Mr. Mead co-founded Green Square Capital Management, LLC (“GSCM”), where he was a partner until October 2003. Mr. Mead is the President of Chickasaw Securities, LLC, a subsidiary of the Adviser that is registered as a broker-dealer and a member of FINRA/SIPC. He has been a member of the Board of Directors of Oakworth Capital Bank in Birmingham, AL since 2008. Mr. Mead earned an MBA from the Fuqua School of Business, Duke University in 1992 and a B.S. with a double major in Economics and Finance from Birmingham-Southern College in 1990.


Geoffrey P. Mavar

Manager

Start Date

Feb 17, 2011

Tenure

8.04

Tenure Rank

3.2%

Geoffrey P. Mavar is a Principal of the Chickasaw Capital Management LLC. Prior to co-founding the Chickasaw Capital Management LLC in 2003, Mr. Mavar joined Goldman Sachs & Co. in 1990 and served as a Vice President until 2001. Mr. Mavar began managing portfolios including MLP assets on a discretionary basis while at Goldman Sachs. In September, 2001, Mr. Mavar co-founded GSCM, where he was a partner until October 2003. Mr. Mavar is the Chief Financial Officer of Chickasaw Securities, LLC. Mr. Mavar received his MBA in Finance from The Owen Graduate School of Management, Vanderbilt University, in 1990 and earned his B.A. from the University of Mississippi in 1984. He is a past member of the Alumni Board of Directors of The Owen Graduate School of Management, Vanderbilt University, having served from 1998 to April 2007.


David N. Fleischer

Manager

Start Date

Feb 17, 2011

Tenure

8.04

Tenure Rank

3.2%

David is a Principal at Chickasaw Capital Management, LLC since 2006. He most recently was a Managing Director at Kayne Anderson Capital Advisors, LP, serving as a portfolio manager for their alternative investment fund and closed-end fund assets. David was a Managing Director at Goldman Sachs & Co., serving on its Investment Policy and Stock Selection Committees for over 10 years and was the business unit leader for the firm’s energy research. He was responsible for investment research of MLPs, natural gas companies and gas utilities, and was an Institutional Investor ranked analyst for 16 consecutive years in natural gas. David graduated from the University of Pennsylvania with a B.A. in Economics in 1970. He received an MBA from The Wharton School of the University of Pennsylvania in 1976. David served four years active duty in the U.S. Navy, attaining the rank of Lieutenant Commander. He is a Chartered Financial Analyst.


Tenure Analysis

Category Low

1.1

Category High

8.9

Category Average

5.96

Category Mode

4.2