Swank Capital and Cushing® Asset Management Announce a Constituent Change to The Cushing® MLP Market Cap Index
13 Jul, 2018, 09:02 ET
DALLAS, July 13, 2018 /PRNewswire/ -- Swank Capital, LLC and Cushing® Asset Management, LP announce an upcoming interim change to the constituents of The Cushing® MLP Market Cap Index (the "Index"). On April 25, 2018, Index constituents EQT Midstream Partners, LP (NYSE: EQM) and Rice Midstream Partners LP (NYSE: RMP) entered into an agreement and plan of merger wherein EQM would acquire RMP, subject to the approval of RMP unitholders. A special meeting of RMP unitholders is scheduled for July 20, 2018, for the purpose of considering and voting on the proposed transaction. Per the Index's methodology guide, after the market closes on July 20, 2018, and effective on July 23, 2018, Sunoco LP (NYSE: SUN) will replace RMP as a constituent of the Index at RMP's then-current weight.
There will be no changes to the remaining constituents of the Index on that date.
ABOUT THE CUSHING® MLP MARKET CAP INDEX
The Cushing® MLP Market Cap Index tracks 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® ASSET MANAGEMENT
Cushing® 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) ), The Cushing® Energy Index (Bloomberg Ticker: CENI), The Cushing® Energy Supply Chain Index (Bloomberg Ticker: CSCI), The Cushing® Transportation Index (Bloomberg Ticker: CTRI) and The Cushing® Utility Index (Bloomberg Ticker: CUTI). For more information, please visit http://www.cushingasset.com/indices.
The Cushing® MLP Market Cap Index (the "Index") is the exclusive property of Swank Capital, LLC, and Cushing Asset Management, LP, which have contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to calculate and maintain the Index. S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"); 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 Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.
SOURCE Cushing Asset Management, LP; Swank Capital, LLC
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