DALLAS, Feb. 9, 2017 /PRNewswire/ -- Swank Capital, LLC and Cushing® Asset Management, LP announce a potential interim change to the constituents of The Cushing® MLP High Income Index (the "Index"). Index constituent Columbia Pipeline Partners LP (NYSE: CPPL) previously entered into a Merger Agreement with its general partner, a wholly-owned subsidiary of TransCanada Corporation (Toronto: TRP) wherein CPPL would be acquired by the general partner, subject to the approval of CPPL unitholders. A special meeting of the CPPL unitholders that was adjourned February 7, 2017, for lack of a quorum is scheduled to reconvene on February 16, 2017, commencing at 9:00 AM Central Standard Time for the purpose of considering and voting on the proposed acquisition.
If the acquisition is approved, CPPL will be removed from the Index after the markets close on February 16, 2017, and replaced with CONE Midstream Partners LP (NYSE: CNNX) at CPPL's then-current weight. The change will be effective February 17, 2017.
The remaining constituents of the Index will be unaffected.
If the acquisition is not approved, there will be no change to the constituents of the Index.
ABOUT THE CUSHING® MLP HIGH INCOME INDEX
The Cushing® MLP High Income Index provides a benchmark that is designed to track the performance of 30 publicly traded energy and shipping master limited partnership (MLP) securities with an emphasis on current yield. The securities are chosen for inclusion according to a three-tier proprietary weighting system developed by Cushing® Asset Management, LP. The Cushing® MLP High Income Index is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "MLPY".
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 Market Cap Index (Bloomberg Ticker: CMCI) and The Cushing® Upstream Energy Income Index (Bloomberg Ticker: CRTY). For more information, please visit http://www.cushingasset.com/indices/.
The Cushing® MLP High Income Index (the "Index") is the exclusive property of Cushing® 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 ("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 S&P nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/swank-capital-and-cushing-asset-management-announce-a-potential-constituent-change-to-the-cushing-mlp-high-income-index-300404700.html
SOURCE Cushing Asset Management, LP; Swank Capital, LLC