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MLPRX Oppenheimer SteelPath MLP Income C

  • Fund
  • MLPRX
  • Price as of: Aug 08, 2016
  • $7.41
  • + $0.06
  • + 0.82%
  • Category
  • MLPs

MLPRX - Profile

Vitals

  • YTD Return 10.3%
  • 3 Yr Annualized Return -4.7%
  • 5 Yr Annualized Return 1.0%
  • Net Assets $3.54 B
  • Holdings in Top 10 52.8%

52 WEEK LOW AND HIGH

$7.41
$4.55
$8.47

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.24%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 18.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$500

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return 10.3%
  • 3 Yr Annualized Total Return -4.7%
  • 5 Yr Annualized Total Return 1.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -2.10%
DIVIDENDS
  • Dividend Yield 0.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Oppenheimer SteelPath MLP Income Fund
  • Fund Family Name OppenheimerFunds
  • Inception Date Jun 10, 2011
  • Shares Outstanding N/A
  • Share Class C
  • Currency USD
  • Domiciled Country United States
  • Manager Brian D. Watson

Fund Description

Under normal circumstances, the fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in the equity securities of master limited partnerships ("MLPs"). It normally invests substantially all of its net assets in the equity securities of MLPs. The fund principally invests in larger, more liquid energy MLPs that derive the majority of their revenue from energy infrastructure assets and energy related assets or activities. While the fund principally invests in larger, more liquid MLPs, it may invest in MLPs of all market capitalization ranges. The fund is non-diversified.

MLPRX - Performance

Return Ranking - Trailing

Period MLPRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 10.3% -36.1% 29.4% 48.61% 3
1 Yr -9.6% -69.5% -7.3% 15.28% 1
3 Yr -4.7% * -28.3% -0.6% 54.55% 3
5 Yr 1.0% * -0.6% 7.9% 86.67% 5
10 Yr N/A * N/A N/A N/A N/A

* Annualized


Return Ranking - Calendar

Period MLPRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -35.1% -57.7% -20.4% 29.85% 2
2014 N/A N/A N/A N/A N/A
2013 N/A N/A N/A N/A N/A
2012 N/A N/A N/A N/A N/A
2011 N/A N/A N/A N/A N/A

Total Return Ranking - Trailing

Period MLPRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 10.3% -32.1% 29.4% 50.00% 3
1 Yr -10.4% -69.5% -7.3% 15.28% 1
3 Yr -4.7% * -28.3% -0.6% 49.09% 3
5 Yr 1.0% * -1.0% 7.9% 83.33% 5
10 Yr N/A * N/A N/A N/A N/A

* Annualized


Total Return Ranking - Calendar

Period MLPRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -35.1% -57.7% -20.4% 29.85% 2
2014 N/A N/A N/A N/A N/A
2013 N/A N/A N/A N/A N/A
2012 N/A N/A N/A N/A N/A
2011 N/A N/A N/A N/A N/A

NAV & Total Return History

MLPRX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

MLPRX Category Low Category High MLPRX % Rank Quintile
Net Assets 3.54 B 557 K 3.55 B 2.78% 1
Number of Holdings 45 21 73 8.33% 2
Net Assets in Top 10 1.83 B 7.33 M 2.24 B 2.78% 1
Weighting of Top 10 52.8% 33.9% 79.5% 20.83% 4

Top 10 Holdings

  1. Energy Transfer Partners LP 7.61%
  2. Enbridge Energy Partners LP 6.29%
  3. NuStar Energy LP 7.09%
  4. TC Pipelines LP 4.81%
  5. Buckeye Partners LP 5.00%
  6. ONEOK Partners LP 4.00%
  7. EnLink Midstream Partners LP 5.23%
  8. Targa Resources Corp 4.54%
  9. DCP Midstream Partners LP 3.90%
  10. NGL Energy Partners LP 4.33%

Asset Allocation

Weighting Category Low Category High MLPRX % Rank Quintile
Stocks
91.36% 62.19% 118.31% 26.39% 5
Other
7.79% -18.31% 7.79% 1.39% 1
Cash
0.86% -0.29% 18.02% 23.61% 4
Convertible Bonds
0.00% 0.00% 0.00% 1.39% 2
Preferred Stocks
0.00% 0.00% 2.32% 9.72% 3
Bonds
0.00% 0.00% 29.73% 5.56% 2

Stock Sector Breakdown

Weighting Category Low Category High MLPRX % Rank Quintile
Energy
83.21% 56.10% 116.29% 22.22% 4
Utilities
3.50% 0.00% 9.85% 11.11% 2
Industrials
3.50% 0.00% 12.95% 9.72% 2
Financial Services
0.00% 0.00% 0.00% 1.39% 2
Healthcare
0.00% 0.00% 0.00% 1.39% 2
Real Estate
0.00% 0.00% 1.66% 4.17% 2
Technology
0.00% 0.00% 0.00% 1.39% 2
Communication Services
0.00% 0.00% 0.00% 1.39% 2
Consumer Defense
0.00% 0.00% 0.00% 1.39% 2
Consumer Cyclical
0.00% 0.00% 0.00% 1.39% 2
Basic Materials
0.00% 0.00% 2.02% 6.94% 3

Stock Geographic Breakdown

Weighting Category Low Category High MLPRX % Rank Quintile
US
90.51% 62.12% 118.31% 20.83% 4
Non US
0.85% 0.00% 20.33% 18.06% 3

MLPRX - Expenses

Operational Fees

MLPRX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 2.24% 0.80% 7.62% 25.00% 4
Management Fee 0.95% 0.70% 1.25% 8.33% 2
12b-1 Fee 1.00% 0.00% 1.00% 2.13% 4
Administrative Fee N/A 0.03% 0.20% N/A N/A

Sales Fees

MLPRX Fees (% of AUM) Category Low Category High MLPRX Rank Quintile
Front Load N/A 4.50% 5.75% N/A N/A
Deferred Load 1.00% 1.00% 1.00% 5.26% 2

Trading Fees

MLPRX Fees (% of AUM) Category Low Category High MLPRX Rank Quintile
Max Redemption Fee N/A 1.00% 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.

MLPRX Fees (% of AUM) Category Low Category High MLPRX Rank Quintile
Turnover 18.00% 8.00% 96.00% 25.00% 1

MLPRX - Distributions

Dividend Yield Analysis

MLPRX Category Low Category High MLPRX % Rank Quintile
Dividend Yield 0.8% 0.02% 1.34% 5.63% 1

Dividend Distribution Analysis

MLPRX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Semi-Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

MLPRX Category Low Category High MLPRX % Rank Quintile
Net Income Ratio -2.10% -2.17% 9.01% 94.44% 5

Capital Gain Distribution Analysis

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

MLPRX - Managers

Brian D. Watson

Manager

Start Date

Mar 30, 2010

Tenure

6.34

Tenure Rank

0.5%

Brian Watson. Mr. Watson is a Vice President of OFI SteelPath, Inc. (the Advisor). Prior to joining the Advisor in 2012, he was a member, portfolio manager and Director of Research of SFA since its formation in 2009. Prior to joining SFA, from 2005 to 2009, Mr. Watson was a portfolio manager at Swank Capital LLC, a Dallas, Texas based investment firm. From 2002 to 2005, Mr. Watson covered the MLP and diversified energy sectors for RBC Capital Markets in the firm’s Equity Research Division. Prior to this, Mr. Watson worked for Prudential Capital Group, helping to analyze, structure, and invest in debt private placements issued primarily by companies involved in the energy sector, including MLPs. Mr. Watson earned his MBA from the McCombs School of Business at the University of Texas at Austin in 2002 and his BBA from the University of Texas at Austin in 1996. Mr. Watson has been a CFA charter holder since 2000.


Stuart Cartner

Manager

Start Date

Mar 30, 2010

Tenure

6.34

Tenure Rank

0.5%

"Vice President, Portfolio Manager Prior to joining SteelPath, Stuart Cartner was Vice President in the Private Wealth Management Division of Goldman, Sachs & Co. As a Private Wealth Advisor for nineteen years at Goldman, he was responsible for managing a $200 million portfolio of midstream Master Limited Partnerships for over a decade, garnering a deep understanding of both the individual companies and the macro fundamentals and investor psychology which drive the space. Through his membership in a broader investment team with $3 billion under management, he has diverse investing and risk management experience across the public and private equity and derivatives spaces. Prior to his time at Goldman, Mr. Cartner worked at Trammell Crow Company and General Electric. Mr. Cartner received a B.S. in Finance and Management from Indiana University and an MBA in Finance and Marketing with Distinction from the Kellogg Graduate School of Management, Northwestern University. "


Tenure Analysis

Category Low

0.0

Category High

6.3

Category Average

3.98

Category Mode

1.6