DALLAS, January 9, 2018 – OFI Global, an OppenheimerFunds company and leading global asset manager, announced the continued expansion of its institutional and high net worth (HNW) solutions offerings with broadened distribution capabilities for its SteelPath Focused MLP Strategy.
Launched in 2004 and currently offered as a separately managed account and model portfolio delivery, the strategy seeks to provide institutional and HNW investors and advisors with a dedicated midstream energy portfolio that offers the potential to provide long-term capital appreciation through distribution growth and an attractive level of current income. Stuart Cartner and Brian Watson, CFA, manage the fund.
“With institutional and HNW client interest in the MLP market continuing to grow in tandem with increased demand for more customized investment products overall, we are excited about the potential impact that our Focused MLP Strategy can bring to this critical client segment,” said Cartner.
OFI SteelPath, an innovator in developing midstream energy investment products, launched the first open-end MLP mutual fund in the market in 2010. Energy infrastructure assets include pipelines, tanks, rail cars, ships, terminals, and storage facilities characterized by their strategic importance within the energy value chain and largely fee-based revenues.
OppenheimerFunds’ SteelPath MLP funds were recently ranked as three of the top five funds in U.S. News & World Report’s “Best Mutual Funds – Energy Limited Partnership"1 rankings.
SteelPath’s current product lineup includes:
- OFI Global SteelPath Focused MLP Strategy
- Oppenheimer SteelPath MLP Alpha Fund
- Oppenheimer SteelPath MLP Alpha Plus Fund
- Oppenheimer SteelPath MLP Income Fund
- Oppenheimer SteelPath MLP Select 40 Fund
- Oppenheimer SteelPath MLP & Energy Infrastructure Fund
- Oppenheimer SteelPath Panoramic Fund
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OppenheimerFunds, Inc., a leader in global asset management, is dedicated to providing solutions for its partners and end investors. OppenheimerFunds, including its subsidiaries, manages more than $249.5 billion in assets for over 13 million shareholder accounts, including sub-accounts, as of December 29, 2017.
Founded in 1959, OppenheimerFunds is an asset manager with a history of providing innovative strategies to its investors. The firm’s 16 investment management teams specialize in equity, fixed income, alternative, multi-asset, and factor and revenue-weighted-ETF strategies, including ESG as a signatory of the UN PRI. OppenheimerFunds and its subsidiaries offer a broad array of products and services to clients, who range from endowments and sovereigns to financial advisors and individual investors. OppenheimerFunds and certain of its subsidiaries provide advisory services to the Oppenheimer family of funds, and OFI Global Asset Management offers solutions to institutions. The firm is also active through its Philanthropy & Community initiative: 10,000 Kids by 2020, reaching children with introductions to math literacy programs.
- ^The U.S. News Mutual Fund Score is produced using an equal weighting of the overall ratings provided by their data sources. Individual fund rating systems are normalized to a 100-point scale based on point totals assigned to individual scoring systems. For Morningstar's and CFRA's five-Star ranking and Zacks five-point scale, each star or point awarded would receive 20 points. In TheStreet.com's A-to-E scale, a highly rated "A" fund would receive 100 points, while a low-rated "E" would receive 20 points. The five Lipper Leader categories are each worth a total of 20 points, giving 4 points to each 1-to-5 point scale assigned to each section of the Lipper rankings. The U.S. News score is calculated by dividing total points awarded according to the above system by the number data sources (5). The combined U.S. News Mutual Fund Score ranks funds numerically based on this score. Funds with identical scores to one decimal place are awarded the same numerical ranking. Funds must be ranked by all five data sources to receive a U.S. News Mutual Fund Score. Lipper rankings are comprised of five unique measures (Total Return, Consistent Return, Preservation, Expense, and Tax Efficiency), each with a 1-to-5 score. While the U.S. News Mutual Fund Score combines all five equally weighted category scores to achieve its weighting in our score, Lipper intends its measures to be used as individual assessments of a fund's ability to meet specific goals, rather than as a cumulative measure of fund quality. The U.S. News Mutual Fund Score groups funds by their Morningstar fund category (Energy Limited Partnership funds). However, some systems use different categorizations when ranking funds.