Swank Capital and Cushing® MLP Asset Management Announce Interim Constituent Change to The Cushing® MLP Market Cap Index
DALLAS, Feb. 10, 2014 /PRNewswire/ -- Swank Capital, LLC and Cushing® MLP Asset Management, LP announced today a change to a constituent of The Cushing® MLP Market Cap Index (the "Index"). Due to the announcement today by Boardwalk Pipeline Partners, L.P. (BWP) of a reduction of its quarterly distribution, Spectra Energy Partners, LP (SEP) will replace (BWP) as a constituent to the Index after the market closes on February 18, 2014, effective as of February 19, 2014. No other planned changes to Index constituents to be effective at that time.
ABOUT THE CUSHING® MLP MARKET CAP INDEX
The Cushing® MLP Market Cap Index provides a benchmark that is designed to track the performance of widely held master limited partnerships (MLPs). The Index is weighted on a float-adjusted market capitalization basis, with the weight of each constituent capped at 7.5% at rebalance. The Index price level is calculated by S&P Dow Jones Indices while the constituents are selected from the entire universe of publicly traded MLPs. The Cushing® MLP Market Cap Index is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "CMCI".
ABOUT SWANK CAPITAL AND CUSHING® MLP ASSET MANAGEMENT
Cushing® MLP Asset Management, LP ("Cushing"), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts which invest primarily in securities of MLPs and other natural resource companies.
Cushing is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The Cushing® 30 MLP Index (Bloomberg Ticker: MLPX), The Cushing® MLP High Income Index (Bloomberg Ticker: MLPY) and The Cushing® Upstream Energy Index (Bloomberg Ticker: CRTY). For more information, please visit www.swankcapital.com/the-cushing-indices.
Cushing® MLP Market Cap Index (the "Index") is the exclusive property of Cushing® MLP Asset Management, LP, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to maintain and calculate the Index. S&P® is a registered trademark of Standard & Poor's Financial Services LLC); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed to S&P Dow Jones Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) have been licensed for use by Cushing® MLP Asset Management, LP. None of S&P Dow Jones Indices, SPFS, Dow Jones S&P or any of their affiliates sponsor or promote the Index and none shall be liable for any errors or omissions in calculating the Index.
SOURCE Swank Capital, LLC; Cushing MLP Asset Management, LP