Cushing® MLP Premier Fund Announces Quarterly Distributions

DALLAS, July 28, 2011 /PRNewswire/ -- The Cushing® MLP Premier Fund ("Premier") (A Class:  CSHAX, C Class:  CSHCX, I Class:  CSHZX) (the "Fund") declared its quarterly distribution of $0.325 per common share for the quarter ending July 31, 2011, which represents approximately a 1.6% increase over the distribution of $0.32 per share made for the previous quarter. The distributions will be paid on July 29, 2011 to shareholders of record as of July 27, 2011.  

Premier's investment objective is to seek to produce current income and capital appreciation. The Fund invests in a diversified portfolio of Master Limited Partnerships (MLPs).  Cushing® MLP Asset Management, LP, the Fund's investment adviser, seeks to invest in companies with strong overall fundamentals in areas such as distribution growth, coverage ratios, balance sheet, competitive position, and well-capitalized general partners.  

It is anticipated but not certain that a majority of the distributions for Premier will be treated as a return of capital. The final determination of such amount will be made in early 2012, after the end of the calendar year when the Fund determines its earnings and profits for the year. The final tax status of the distribution may differ substantially from this preliminary information.

ABOUT CUSHING® MLP ASSET MANAGEMENT, LP

Cushing® MLP Asset Management, LP ("Cushing MLP"), is a wholly-owned subsidiary of Swank Capital, LLC and an SEC-registered investment adviser headquartered in Dallas, Texas.  Cushing® MLP serves as investment adviser to affiliated funds, which invest primarily in securities of MLPs, and other natural resource companies.  Cushing® MLP is also the sponsor of The Cushing® 30 MLP Index, a fundamental based North American energy infrastructure index comprised of 30 equally weighted publicly traded MLPs, and The Cushing® MLP High Income Index, which tracks the performance of 30 publicly traded energy and shipping MLP securities with an emphasis on current yield.  The Cushing® 30 MLP Index is calculated by Standard & Poor's and reported under the Bloomberg ticker "MLPX" and FactSet Ticker "MLPX-CME". The Cushing® 30 MLP High Income Index is calculated by Standard & Poor's and reported on a real-time basis under the Bloomberg ticker "MLPY" and FactSet ticker "MLPH-CME". Cushing® MLP has continually expanded its platform of MLP-related investment products, leveraging extensive industry contacts and comprehensive research depth to drive both passive and actively managed investment opportunities for individual and institutional investors.  Cushing® MLP seeks to identify and exploit investment niches it believes are generally less understood and less followed by the broader investor community.

Past Performance is not a guarantee of future results.

IMPORTANT INFORMATION: Mutual fund investing involves risk. Principal loss is possible. The Fund is nondiversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund. The Fund invests in Master Limited Partnerships (MLPs) which concentrate investments in the natural resource sector and are subject to the risks of energy prices and demand and the volatility of commodity investments. Damage to facilities and infrastructure of MLPs may significantly affect the value of an investment and may incur environmental costs and liabilities due to the nature of their business.  MLPs are subject to significant regulation and may be adversely affected by changes in the regulatory environment.  Investments in smaller companies involve additional risks such as limited liquidity and greater volatility. Investments in foreign securities involve greater volatility and political, economic and currency risks and differences in accounting methods. MLPs are subject to certain risks inherent in the structure of MLPs, including complex tax structure risks, the limited ability for election or removal of management, limited voting rights, potential dependence on parent companies or sponsors for revenues to satisfy obligations, and potential conflicts of interest between partners, members and affiliates. There is no assurance that the Fund's investment objectives will be attained.

The Cushing® 30 MLP Index and the Cushing® MLP High Income Index are the exclusive property of Swank Capital, LLC, which has contracted with the Standard & Poor's ("S&P") to maintain and calculate each Index.  Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC "Calculated by S&P Custom Indices" and it related stylized mark(s) are service marks of Standard & Poor's Financial Services LLC and have been licensed by use by Swank Capital, LLC.  S&P and its affiliates shall have no liability for any errors or omissions in calculating either Index. One cannot invest directly in an index.

Diversification does not assure a profit nor protect against loss in a declining market.

The fund's investment objectives, risks, charges, and expenses must be considered carefully before investing. The Prospectus and Summary Prospectuses contain this and other important information about the fund, and it may be obtained by calling 877-965-7386, or visiting www.cushingfunds.com/cushing-mlp-premier-fund/literature. Read the Prospectus and Summary of Prospectus carefully before investing.

Any tax or legal information provided is merely a summary of our understanding and interpretation of some of the current income tax regulations and is not exhaustive. MLPs and MLP investments have unique tax characteristics.  Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation. Neither the Fund nor any of its representatives may give legal or tax advice.

The Cushing® MLP Premier Fund is distributed by Quasar Distributors, LLC.

www.swankcapital.com

SOURCE Cushing MLP Asset Management




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