Swank Capital Announces Cushing® MLP Asset Management, LP

DALLAS, Feb. 14, 2011 /PRNewswire/ -- Swank Capital, LLC announced today that it has changed the name of its investment advisor subsidiary to Cushing® MLP Asset Management, LP. This name change brings the advisor's name in harmony with its "Cushing®" suite of MLP products and further brands the "Cushing®" name to be synonymous with MLP asset management. The Cushing MLP Asset Management name will now capture the entire breadth of Swank Capital's MLP products, incorporating mutual funds, separately managed accounts, private funds, and its two MLP indices.

Jerry Swank, Founder and Managing Partner of Swank Capital, stated, "To be truly effective in MLP asset management, you have to provide the entire breadth of retail and institutional products. Swank Capital is capable of customizing MLP product solutions for its clients without bias towards a particular product structure. If you want an MLP mutual fund, closed-end fund, separately managed accounts, or private fund, we can provide it."

J. Parker Roy, Senior Managing Director of Swank Capital, said, "Cushing® MLP Asset Management can now be used uniformly across all of our products creating a more client friendly branding. When you think of MLP asset management you will think of Swank Capital and Cushing® MLP Asset Management...the name says it all."  The products and indices offered by Swank Capital under the Cushing® brand are:

• The Cushing® MLP Premier Fund (CSHAX, CSHCX, CSHZX)(1)
• The Cushing® MLP Total Return Fund (SRV)(2)
• The Cushing® 30 MLP Index (MLPX)
• The Cushing® MLP High Income Index (MLPY)
• Hedge Funds
• Separately Managed Accounts

(1) a 40-Act Mutual Fund

(2) a publicly traded closed-end fund, separate from the mutual fund

The name change was effective January 19th, 2011

ABOUT SWANK CAPITAL AND CUSHING® MLP ASSET MANAGEMENT: Swank Capital and Cushing® MLP Asset Management are headquartered in Dallas, Texas.  With over $1.1 billion under management, Swank Capital, through its SEC-registered investment adviser subsidiary, Cushing® MLP Asset Management, serves as investment adviser to clients that invest primarily in securities of MLPs and other natural resource companies.  Swank Capital also sponsors two MLP indices: The Cushing® 30 MLP Index (MLPX) and The Cushing® High Income Index (MLPY).  Swank Capital continues to expand its platform of MLP-related investment products for both passive and actively managed investment opportunities for individual and institutional investors.

ABOUT THE CUSHING® INDICES: The Cushing® 30 MLP Index:  The Cushing® 30 MLP Index tracks the performance of 30 publicly traded securities that hold midstream energy infrastructure assets in North America chosen according to a proprietary fundamental scoring model (SValuES©) developed by Swank Capital to rank potential MLPs for inclusion in the Index.  The Cushing® 30 MLP Index is calculated by Standard & Poor's and reported on a real-time basis under the Bloomberg ticker MLPX.

The Cushing® 30 MLP Index and The Cushing® High Income Index are the exclusive property of Swank Capital, LLC, which has contracted with Standard & Poor's ("S&P") 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 by use by Swank Capital, LLC.  S&P and its affiliates shall have no liability for any errors or omissions in calculating the Index.

Carefully consider the investment objectives, risk factors, charges, and expenses before investing in the Cushing® MLP Premier Fund or The Cushing MLP Total Return Fund. This and additional information can be found in each Funds' prospectus and/or summary prospectus, which may be obtained by calling 877-965-7386 or by visiting www.cushingfunds.com.  Read the prospectus and/or summary prospectus carefully before investing.

Investing involves risk, including the possible loss of principal. Each Fund is non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund and may be more exposed to individual stock volatility than a diversified fund. Each Fund will concentrate investments in the natural resource sector and will be more subject to the risks associated with that sector and industries within that sector. MLPs are subject to certain risks inherent in the structure of MLPs, including tax risks, the limited ability for election or removal of management, limited voting rights, and potential conflicts of interest between partners, members and affiliates.  The Cushing® MLP Premier Fund will be treated as a regular corporation, or "C" corporation, and will pay taxes at the fund level and will be subject to tax risks and risks associated with accounting for its deferred tax liability and/or asset balances.  The investment strategy of investing primarily in MLPs and electing to be taxed as a regular corporation, or "C" corporation, rather than as a regulated investment company for U.S. federal income tax purposes, is a new and untested investment strategy for open-end mutual funds such as the Cushing® MLP Premier Fund. This strategy involves complicated and in some cases unsettled accounting, tax and net asset and share valuation aspects that cause the Cushing® MLP Premier Fund to differ significantly from most other open-end registered investment companies. This may result in unexpected and potentially significant accounting, tax and valuation consequences for the Cushing® MLP Premier Fund and for its shareholders. Certain investments by the Funds may subject the Funds to liquidity risk. The Cushing® MLP Premier Fund is an actively managed fund and therefore will perform differently than any index, including but not limited to, those mentioned herein.  As with all listed closed-end funds, the shares of The Cushing MLP Total Return Fund are not redeemable and trade in the secondary market.  Shares of closed-end funds frequently trade at a discount to their net asset value, which may increase risk of loss.  

The SEC does not endorse, indemnify, approve or disapprove of any security.

The Cushing MLP Premier Fund is distributed by Quasar Distributors, LLC.

SOURCE Swank Capital, LLC