TORIX: Tortoise MLP & Pipeline Fund - MutualFunds.com

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Tortoise MLP & Pipeline Instl

TORIX - Snapshot

Vitals

  • YTD Return -31.0%
  • 3 Yr Annualized Return -14.6%
  • 5 Yr Annualized Return -7.2%
  • Net Assets $1.45 B
  • Holdings in Top 10 63.9%

52 WEEK LOW AND HIGH

$8.71
$4.93
$12.79

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.93%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 19.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000,000
  • IRA N/A

Fund Classification

  • Primary Theme
  • Fund Type Open End Mutual Fund
  • Investment Style Energy Limited Partnership

Compare TORIX to Popular MLP Industry Equity Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

Alerian MLP ETF

AMLP | ETF

$26.02

-2.47%

$3.21 B

11.84%

$3.16

206.12%

-

$21.63

-0.83%

$1.69 B

4.66%

$1.02

-15.14%

-

$3.21

-1.84%

$1.50 B

16.43%

$0.54

-38.27%

-

$4.54

-1.30%

$1.47 B

12.72%

$0.59

-35.51%

-

$8.60

-1.26%

$1.45 B

4.13%

$0.36

-31.03%

-

TORIX - Profile

Distributions

  • YTD Total Return -31.0%
  • 3 Yr Annualized Total Return -14.6%
  • 5 Yr Annualized Total Return -7.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.01%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Semi-Annually

Fund Details

  • Legal Name
    Tortoise MLP & Pipeline Fund
  • Fund Family Name
    Tortoise Capital Advisors
  • Inception Date
    May 31, 2011
  • Shares Outstanding
    183090846
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Brian Kessens

Fund Description

The fund normally invests at least 80% of its net assets plus the amount of any borrowings for investment purposes in securities of MLPs and pipeline companies. The advisor intends to focus its investments primarily in equity securities of MLPs and pipeline companies that own and operate a network of energy infrastructure 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. It is non-diversified.


TORIX - Performance

Return Ranking - Trailing

Period TORIX Return Category Return Low Category Return High Rank in Category (%)
YTD -31.0% -62.7% 321.9% 51.77%
1 Yr -38.0% -87.7% 12.4% 42.96%
3 Yr -14.6%* -51.5% 1.4% 31.88%
5 Yr -7.2%* -37.3% 1.1% 16.80%
10 Yr N/A* -26.1% 4.6% N/A

* Annualized

Return Ranking - Calendar

Period TORIX Return Category Return Low Category Return High Rank in Category (%)
2019 13.3% -10.0% 18.9% 7.63%
2018 -18.3% -41.7% -10.9% 22.13%
2017 -3.9% -59.9% -1.4% 15.89%
2016 39.2% -10.3% 459.2% 7.00%
2015 -39.0% -65.1% -1.2% 52.13%

Total Return Ranking - Trailing

Period TORIX Return Category Return Low Category Return High Rank in Category (%)
YTD -31.0% -62.7% 230.2% 49.65%
1 Yr -38.0% -87.7% 12.4% 40.85%
3 Yr -14.6%* -51.5% 1.4% 30.43%
5 Yr -7.2%* -37.3% 1.1% 16.80%
10 Yr N/A* -26.1% 4.6% N/A

* Annualized

Total Return Ranking - Calendar

Period TORIX Return Category Return Low Category Return High Rank in Category (%)
2019 13.3% -87.2% 18.9% 9.92%
2018 -18.3% -83.3% -9.4% 45.08%
2017 -3.9% -59.9% 0.4% 17.76%
2016 39.2% -10.3% 65.5% 8.00%
2015 -39.0% -65.1% -1.2% 65.96%

NAV & Total Return History


TORIX - Holdings

Concentration Analysis

TORIX Category Low Category High TORIX % Rank
Net Assets 1.45 B 1.04 M 3.21 B 11.27%
Number of Holdings 27 15 154 70.87%
Net Assets in Top 10 930 M 19.9 K 2.49 B 7.87%
Weighting of Top 10 63.88% 35.8% 95.0% 43.22%

Top 10 Holdings

  1. Williams Companies Inc 9.88%
  2. Enbridge Inc 8.17%
  3. Cheniere Energy Inc 7.39%
  4. Kinder Morgan Inc Class P 7.33%
  5. TC Energy Corp 6.77%
  6. Plains GP Holdings LP Class A 5.57%
  7. Energy Transfer LP 5.28%
  8. Enterprise Products Partners LP 5.05%
  9. Targa Resources Corp 5.04%
  10. ONEOK Inc 4.69%

Asset Allocation

Weighting Return Low Return High TORIX % Rank
Stocks
97.21% 8.48% 143.97% 71.65%
Cash
2.78% -43.97% 91.52% 15.75%
Preferred Stocks
0.00% 0.00% 11.20% 58.27%
Other
0.00% -49.86% 39.71% 54.33%
Convertible Bonds
0.00% 0.00% 9.17% 53.54%
Bonds
0.00% 0.00% 73.50% 55.91%

Stock Sector Breakdown

Weighting Return Low Return High TORIX % Rank
Energy
94.94% 16.11% 100.00% 39.37%
Utilities
4.85% 0.00% 56.80% 55.12%
Basic Materials
0.21% 0.00% 7.05% 33.07%
Technology
0.00% 0.00% 18.83% 55.91%
Real Estate
0.00% 0.00% 17.61% 54.33%
Industrials
0.00% 0.00% 7.68% 63.78%
Healthcare
0.00% 0.00% 0.00% 52.76%
Financial Services
0.00% 0.00% 5.84% 54.33%
Communication Services
0.00% 0.00% 4.72% 53.54%
Consumer Defense
0.00% 0.00% 0.00% 52.76%
Consumer Cyclical
0.00% 0.00% 3.95% 53.54%

Stock Geographic Breakdown

Weighting Return Low Return High TORIX % Rank
US
73.39% 8.48% 143.97% 70.87%
Non US
23.82% 0.00% 47.08% 29.13%

TORIX - Expenses

Operational Fees

TORIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.93% 0.40% 45.48% 93.80%
Management Fee 0.85% 0.00% 2.64% 23.97%
12b-1 Fee 0.00% 0.00% 1.00% 9.23%
Administrative Fee N/A 0.04% 0.25% 66.67%

Sales Fees

TORIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

TORIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% N/A

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.

TORIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 19.00% 13.00% 439.00% 4.72%

TORIX - Distributions

Dividend Yield Analysis

TORIX Category Low Category High TORIX % Rank
Dividend Yield 0.00% 0.00% 23.03% 61.22%

Dividend Distribution Analysis

TORIX Category Low Category High Category Mod
Dividend Distribution Frequency Semi-Annually Annually Monthly Quarterly

Net Income Ratio Analysis

TORIX Category Low Category High TORIX % Rank
Net Income Ratio 1.01% -49.00% 5.74% 30.77%

Capital Gain Distribution Analysis

TORIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

TORIX - Fund Manager Analysis

Managers

Brian Kessens


Start Date

Tenure

Tenure Rank

Jul 31, 2013

7.26

7.3%

Mr. Kessens joined Tortoise in 2008. He is a managing director and senior portfolio manager, a member of the investment committee and serves as president of the Tortoise Pipeline & Energy Fund, Inc. and Tortoise Power & Energy Infrastructure Fund, Inc. closed-end funds. Previously, Mr. Kessens was a vice president in Citigroup’s global energy investment banking practice. Prior to Citigroup, he served as a field artillery officer in the U.S. Army. Mr. Kessens earned a Bachelor of Science in economics degree from the U.S. Military Academy at West Point and a Master of Business Administration degree from Columbia Business School in New York. He is a CFA® charterholder.

Robert Thummel


Start Date

Tenure

Tenure Rank

Jul 31, 2013

7.26

7.3%

Mr. Thummel joined Tortoise in 2004. He is a managing director and senior portfolio manager, a member of the investment committee and serves as president of the Tortoise Energy Independence Fund, Inc. closed-end fund. Before joining Tortoise, he was director of finance at KLT, Inc., a subsidiary of Great Plains Energy, from 1998 to 2004 and a senior auditor at Ernst & Young from 1995 to 1998. Mr. Thummel earned a Bachelor of Science degree in accounting from Kansas State University and a Master of Business Administration degree from the University of Kansas. He is a frequent energy sector contributor to financial media outlets including Bloomberg CNBC, Fox Business and Wall Street Journal.

James Mick


Start Date

Tenure

Tenure Rank

Jul 31, 2013

7.26

7.3%

Mr. Mick joined Tortoise in 2006 and is a member of the Investment Committee. He frequently engages with Tortoise's largest institutional clients. Mr. Mick has more than 19 years of industry experience. Previously, he was a senior finance specialist at General Electric Insurance Solutions (now Swiss Re) from 2003 to 2006 and a senior auditor at Ernst & Young from 2000 to 2003. Mr. Mick earned Bachelor of Science degrees in business administration and accounting, as well as a Master of Accounting and Information Systems from the University of Kansas. He is a CFA® charterholder.

Matthew Sallee


Start Date

Tenure

Tenure Rank

Jul 31, 2013

7.26

7.3%

Mr. Sallee joined Tortoise in 2005 and is an Executive Committee member. He serves as president of the Tortoise Energy Infrastructure Corp. and Tortoise Midstream Energy Fund, Inc. closed-end funds, and is a member of the Investment Committee. Mr. Sallee has more than 18 years of industry experience and regularly speaks on national media (CNBC). Previously, he served for five years as a senior financial analyst with Aquila, Inc., where he was responsible for analysis of capital allocation at the firm’s communications infrastructure subsidiary, Everest Connections. Mr. Sallee graduated magna cum laude from the University of Missouri with a degree in business administration. He is a CFA® charterholder.

Stephen Pang


Start Date

Tenure

Tenure Rank

Jan 01, 2018

2.83

2.8%

Primary Function: Mr. Pang is a Managing Director and Portfolio Manager and is responsible for Tortoise’s public and private direct investments across energy strategies, where he has served as Vice President of Tortoise Pipeline & Energy Fund, Inc., a closed-end fund, since May 2017. Mr. Pang currently serves as Chief Financial Officer and a board member of Tortoise Acquisition Corp. and will continue to serve on Tortoise Acquisition Corp.’s board following the anticipated closing of its business combination with Hyliion. Mr. Pang also serves on the board of Mexico Pacific Limited LLC, a Tortoise portfolio company. Background: Prior to joining the firm in 2014, Mr. Pang was a director in Credit Suisse Securities (USA) LLC’s Equity Capital Markets Group. Before joining Credit Suisse Securities (USA) LLC in 2012, he spent eight years in Citigroup Global Markets Inc.’s Investment Banking Division, where he focused on equity underwriting and corporate finance in the energy sector. Education: Mr. Pang received a B.S. in Business Administration from the University of Richmond and is a CFA® charterholder.

Nicholas Holmes


Start Date

Tenure

Tenure Rank

Jan 01, 2019

1.83

1.8%

Primary Function: Mr. Holmes serves as co-portfolio manager of the sustainable global water strategy. My Holmes also continues to evaluate private investment opportunities on water projects in support of Ecofin’s Private Sustainable Infrastructure team. Background: Mr. Holmes has extensive investment experience across the capital structure, acting as president of the Tortoise Essential Assets Income Term Fund and vice president of the Tortoise Energy Infrastructure Corp. and Tortoise MLP Fund, Inc. closed-end funds. He was the lead analyst on the three water-specific private placement transactions in the energy sector. Education: Mr. Holmes earned a Bachelor of Arts in political science from Yale University and a Master of Business Administration from the University of Kansas. He is a CFA® charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 16.69 6.39 10.59
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