Salient Midstream & MLP Fund Announces its Net Asset Value as of February 28, 2013 and Provides Fund Update

HOUSTON, March 11, 2013 /PRNewswire/ -- Salient Midstream & MLP Fund (the "Fund") (NYSE: SMM) released today its net asset value (NAV) as of February 28, 2013 and provided an update on the Fund's current portfolio. 

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As of February 28, 2013, the Fund's net assets were $205.4 million and the net asset value per share was $21.66. The Fund's net assets on January 31, 2013 were $205.9 million and the net asset value per share was $21.72. The NAV on February 28, 2013 was $21.66 after paying $0.335 in dividends during the month. On February 28, 2013, the closing share price of the Fund was $22.00, which represents a 1.6% premium to the NAV. 

As of February 28, 2013, the advisor has invested the Fund in long-term investments as shown in the pie chart below:

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Also as of February 28, 2013, the Fund's 10 largest consolidated holdings were:

The Fund's consolidated unaudited balance sheet as of February 28, 2013, is shown below:

Past performance is no guarantee of future results.

Salient Midstream & MLP Fund is a Delaware statutory trust registered as a non-diversified, closed-end management investment company under the Investment Company Act of 1940, as amended. The Fund's investment objective is to provide a high level of total return with an emphasis on making quarterly cash distributions to its common shareholders. The Fund seeks to achieve that objective by investing at least 80% of its total assets in securities of MLPs and midstream companies. There can be no assurance that the Fund will achieve its investment objective.

This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual future results to differ significantly from the Fund's present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; leverage risk; valuation risk; interest rate risk; tax risk; the volume of sales and purchase of shares; the continuation of investment advisory, administration and other service arrangements; and other risks discussed in the Fund's filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund's investment objective will be attained.

CONTACT:

Chris Moon
JCPR
[email protected] 
973-850-7304

Salient Capital Advisors, LLC
Investor Relations
[email protected]
800-809-0525

SOURCE Salient Midstream & MLP Fund