2014

Swank Capital and Cushing® MLP Asset Management Announce Launch and Rebalancing of The Cushing® Royalty Trust and Upstream MLP Index

DALLAS, July 2, 2012 /PRNewswire/ -- Cushing MLP Asset Management ("Cushing") an SEC-registered investment adviser subsidiary of Swank Capital, LLC, focused on investments in master limited partnerships ("MLPs") and related energy income equities, today announced the recent launch of the Cushing® Royalty Trust and Upstream Income Index ("Cushing® Royalty Index" or "Index") (Bloomberg Ticker: CRTY) and rebalance of the Index to after the market closes July 6, 2012 as part of normal Index operations.

Index Description

The Cushing® Royalty Index was launched to provide a benchmark that is designed to track the performance of publicly traded U.S. royalty trusts and upstream exploration and production ("E&P") energy MLPs. To be eligible for inclusion in the Index, a constituent security candidate must represent royalty or income trust units, limited or general partner interests, or both, of a U.S. royalty trust or E&P MLP that is an operating company, or common units of a limited liability company that is an operating company.  In addition the candidate must be publicly traded and currently pay a distribution.  The Index is currently comprised of 25 U.S. royalty trusts and E&P MLPs, weighted on a float-adjusted market capitalization basis with the weight of each constituent capped at 7.5% at rebalance.  The Index is calculated by Standard & Poor's ("S&P") and priced on a real-time, daily basis by CME Group under the Bloomberg ticker CRTY as well as on a total-return basis, using end of day pricing, under the ticker CRTYTR. For more information about the Index, please visit www.cushingmlpindex.com.

Swank Capital founder and managing partner, Jerry Swank, commented, "With a current yield of 9.7%, the Index offers a compelling total return opportunity from both current income and capital appreciation with indirect commodity exposure. We believe there will be significant interest in the Index from both retail and institutional investors looking for yield, indirect commodity exposure, and inflation protection."

Index Rebalance

Cushing® Royalty Trust and Upstream MLP Index

constituents effective July 6, 2012:


Company Name

Ticker

Index Weight

Status

EV Energy Partners LP

EVEP

7.50%

Existing

Linn Energy LLC

LINE

7.50%

Existing

Vanguard Natural Resources LLC

VNR

7.50%

Existing

BP Prudhoe Bay Royalty Trust

BPT

7.50%

Existing

Breitburn Energy Partners LP

BBEP

7.12%

Existing

Legacy Reserves LP

LGCY

5.54%

Existing

Sandridge Mississippian Trust II

SDR

4.74%

Addition

QR Energy LP

QRE

4.71%

Existing

Sandridge Permian Trust

PER

4.67%

Existing

San Juan Basin Royalty Trust

SJT

4.43%

Existing

Sandridge Mississippian Trust

SDT

4.42%

Existing

Sabine Royalty Trust

SBR

4.38%

Existing

Permian Basin Royalty Trust

PBT

4.22%

Existing

Dorchester Minerals LP

DMLP

3.95%

Existing

Chesapeake Granite Wash Trust

CHKR

2.93%

Existing

Pioneer Southwest Energy Partners

PSE

2.73%

Existing

MV Oil Trust

MVO

2.45%

Existing

ECA Marcellus Trust I

ECT

1.96%

Existing

Hugoton Royalty Trust

HGT

1.93%

Existing

Whiting USA Trust II

WHZ

1.91%

Addition

Atlas Resource Partners LP

ARP

1.90%

Addition

Pacific Coast Oil Trust

ROYT

1.85%

Existing

VOC Energy Trust

VOC

1.45%

Existing

LRR Energy LP

LRE

1.37%

Existing

Enduro Royalty Trust

NDRO

1.34%

Existing

 

Constituents removed, effective July 6, 2012:


Company Name

Ticker

Cross Timbers Royalty Trust

CRT

Memorial Production Partners LP

MEMP

Mid-Con Energy Partners LP

MCEP

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 that invest primarily in securities of MLPs and other energy income businesses.  Cushing is also the sponsor of The Cushing® 30 MLP Index, a North American energy infrastructure index comprised of 30 equally weighted publicly traded MLPs.  The Cushing® 30 MLP Index is calculated by Standard & Poor's and reported under the Bloomberg ticker "MLPX" and FactSet Ticker "MLPX-CME". Additionally, Cushing is the sponsor for 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® MLP High Income Index is calculated by Standard & Poor's and reported under the Bloomberg ticker "MLPY" and FactSet ticker "MLPH-CME".  Cushing continues to expand its platform of MLP-related investment products, leveraging extensive industry contacts and unparalleled research depth to drive both passive and actively managed investment opportunities for individual and institutional investors.  Cushing seeks to identify and exploit investment niches it believes are generally less understood and less followed by the broader investor community.

The Cushing® Royalty Trust and Upstream MLP Index (the "Index") is the exclusive property of Cushing® MLP Asset Management, LP, which has contracted with Standard & Poor's to maintain and calculate the Index.  Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC. "Calculated by S&P Custom Indices" and its related stylized mark(s) are service marks of Standard & Poor's Financial Services LLC and have been licensed for use by Cushing® MLP Asset Management, LP.  S&P and its affiliates shall have no liability for any errors or omissions in calculating the Index.

SOURCE Cushing MLP Asset Management, LP



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