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SteelPath Focused MLP

Overview

This strategy seeks to invest in a concentrated portfolio of U.S. midstream MLPs and energy infrastructure companies

Strategy Inception Date
July 31, 2004
Composite Inception Date
July 31, 2004
Composite AUM
(as of 03/31/2019)
$51.30 MM
Composite Benchmark
Alerian MLP Total Return Index
Available Vehicles
Separate Account
Model Portfolio Delivery
Performance
Average Annual Returns
Cumulative Returns
Calendar Year Returns
as of 03/31/2019
as of 03/31/2019

Cumulative
Annualized
ytd as of 2019-03-31
1 yr 3 yr 5 yr 10 yr since inception
SteelPath Focused MLP (gross of fees)
17.39% 17.58% 10.34% -3.06% 9.87% 12.07%
SteelPath Focused MLP (net of fees)
17.19% 16.74% 9.55% -3.76% 9.07% 11.25%
Alerian MLP Total Return Index
16.82% 15.11% 5.69% -4.73% 10.12% 8.38%
Cumulative
Annualized
ytd as of 2019-03-31
1 yr 3 yr 5 yr 10 yr since inception
SteelPath Focused MLP (gross of fees)
17.39% 17.58% 10.34% -3.06% 9.87% 12.07%
SteelPath Focused MLP (net of fees)
17.19% 16.74% 9.55% -3.76% 9.07% 11.25%
Alerian MLP Total Return Index
16.82% 15.11% 5.69% -4.73% 10.12% 8.38%

Year SteelPath Focused MLP (gross of fees) SteelPath Focused MLP (net of fees) Alerian MLP Total Return Index
2005 16.92% 16.07% 6.32%
2006 39.25% 38.22% 26.07%
2007 19.76% 18.89% 12.72%
2008 -15.97% -16.61% -36.91%
2009 30.98% 30.05% 76.41%
2010 32.53% 31.55% 35.85%
2011 11.31% 10.48% 13.88%
2012 8.71% 7.90% 4.80%
2013 34.68% 33.70% 27.58%
2014 10.21% 9.43% 4.80%
2015 -32.84% -33.33% -32.59%
2016 28.13% 27.23% 18.31%
2017 -5.56% -6.24% -6.52%
2018 -12.84% -13.48% -12.42%

Date SteelPath Focused MLP (gross of fees) SteelPath Focused MLP (net of fees) Alerian MLP Total Return Index
3/31/2009 0.00 0.00 0.00
4/30/2009 0.01 -0.05 11.02
5/31/2009 0.39 0.27 21.36
6/30/2009 0.45 0.27 19.30
7/31/2009 12.82 12.55 34.15
8/31/2009 10.43 10.10 29.80
9/30/2009 14.30 13.89 36.03
10/31/2009 17.50 17.01 39.92
11/30/2009 22.37 21.79 48.82
12/31/2009 29.46 28.77 58.65
1/31/2010 30.22 29.44 59.65
2/28/2010 35.07 34.18 66.93
3/31/2010 39.10 38.10 71.73
4/30/2010 43.40 42.28 77.54
5/31/2010 37.15 35.98 67.94
6/30/2010 46.17 44.84 77.34
7/31/2010 55.93 54.43 90.69
8/31/2010 52.38 50.82 85.83
9/30/2010 61.82 60.06 97.23
10/31/2010 67.82 65.91 107.87
11/30/2010 68.62 66.59 111.85
12/31/2010 71.58 69.40 115.52
1/31/2011 76.35 74.01 122.04
2/28/2011 82.47 79.94 129.83
3/31/2011 79.26 76.67 128.44
4/30/2011 81.41 78.68 136.00
5/31/2011 74.05 71.32 124.30
6/30/2011 75.92 73.05 126.75
7/31/2011 71.41 68.52 122.47
8/31/2011 70.00 67.02 120.08
9/30/2011 66.11 63.09 110.97
10/31/2011 80.54 77.15 132.63
11/30/2011 80.62 77.12 132.07
12/31/2011 90.98 87.16 145.43
1/31/2012 92.73 88.77 150.21
2/29/2012 102.67 98.38 160.66
3/31/2012 96.75 92.44 150.27
4/30/2012 96.96 92.52 155.88
5/31/2012 87.07 82.74 136.73
6/30/2012 93.03 88.44 144.56
7/31/2012 106.51 101.48 156.97
8/31/2012 110.27 105.03 161.09
9/30/2012 112.46 107.04 166.30
10/31/2012 111.81 106.27 167.62
11/30/2012 114.46 108.73 165.49
12/31/2012 107.62 101.94 157.21
1/31/2013 136.86 130.26 189.68
2/28/2013 143.23 136.31 192.26
3/31/2013 154.81 147.42 207.99
4/30/2013 151.01 143.58 210.81
5/31/2013 146.90 139.44 204.46
6/30/2013 162.31 154.24 213.97
7/31/2013 164.18 155.89 212.43
8/31/2013 159.01 150.72 204.62
9/30/2013 164.59 155.96 211.68
10/31/2013 170.81 161.82 220.07
11/30/2013 174.75 165.46 222.86
12/31/2013 179.61 170.00 228.15
1/31/2014 181.25 171.43 230.10
2/28/2014 189.49 179.22 229.49
3/31/2014 199.28 188.49 234.28
4/30/2014 212.03 200.61 248.54
5/31/2014 225.91 213.81 260.36
6/30/2014 245.40 232.39 281.68
7/31/2014 230.48 217.83 268.15
8/31/2014 254.31 240.55 298.31
9/30/2014 249.21 235.44 292.08
10/31/2014 227.94 214.81 274.05
11/30/2014 224.73 211.54 264.41
12/31/2014 208.17 195.46 243.91
1/31/2015 203.70 191.00 233.42
2/28/2015 213.11 199.85 240.35
3/31/2015 200.59 187.68 225.93
4/30/2015 220.28 206.35 246.08
5/31/2015 212.56 198.78 233.71
6/30/2015 197.40 184.11 206.07
7/31/2015 187.58 174.56 196.13
8/31/2015 168.52 156.19 181.44
9/30/2015 126.87 116.31 138.42
10/31/2015 144.45 132.94 161.53
11/30/2015 122.89 112.25 140.41
12/31/2015 106.98 96.97 131.83
1/31/2016 82.97 74.00 106.09
2/29/2016 80.97 72.00 105.10
3/31/2016 90.75 81.19 122.18
4/30/2016 128.50 116.94 146.71
5/31/2016 135.85 123.79 152.95
6/30/2016 147.67 134.87 165.93
7/31/2016 153.17 139.94 167.41
8/31/2016 155.67 142.17 163.90
9/30/2016 159.64 145.78 168.79
10/31/2016 145.72 132.46 156.83
11/30/2016 151.81 138.09 162.73
12/31/2016 165.21 150.61 174.27
1/31/2017 175.21 159.91 187.69
2/28/2017 176.78 161.23 188.84
3/31/2017 174.07 158.52 185.10
4/30/2017 170.61 155.10 181.45
5/31/2017 158.06 143.11 168.73
6/30/2017 157.64 142.58 166.98
7/31/2017 163.05 147.53 170.44
8/31/2017 150.85 135.89 157.07
9/30/2017 152.73 137.52 158.85
10/31/2017 143.81 129.00 148.13
11/30/2017 137.27 122.72 144.78
12/31/2017 150.47 134.97 156.39
1/31/2018 163.62 147.17 171.16
2/28/2018 137.52 122.55 144.87
3/31/2018 117.95 104.08 127.88
4/30/2018 135.75 120.63 146.32
5/31/2018 143.27 127.53 158.76
6/30/2018 141.79 126.01 154.77
7/31/2018 158.13 141.15 171.53
8/31/2018 162.32 144.91 175.82
9/30/2018 155.57 138.47 171.51
10/31/2018 137.91 121.85 149.81
11/30/2018 133.82 117.90 147.73
12/31/2018 118.30 103.30 124.55
1/31/2019 145.47 128.49 152.92
2/28/2019 143.26 126.30 153.61
3/31/2019 156.25 138.25 162.32
Portfolio

Top Holdings

(52.4% of assets as of 07/31/2018)


Portfolio Holdings Breakdown

Equity Sector
Asset Allocation
Market Cap 3
Equity Sector SteelPath Focused MLP Alerian MLP Total Return Index Overweight / Underweight
Petroleum Transportation 44.3% 52.2% -7.9%
Diversified 25.6% 17.7% 8.0%
Natural Gas Pipelines 18.9% 9.1% 9.8%
Gathering & Processing 9.8% 14.1% -4.3%
Asset Allocation SteelPath Focused MLP Alerian MLP Total Return Index Overweight / Underweight
Equity 98.6% 100.0% -1.4%
Market Cap SteelPath Focused MLP Alerian MLP Total Return Index Overweight / Underweight
Large 62.6% 54.2% 8.4%
Mid 31.3% 31.1% 0.3%
Small 4.6% 14.7% -10.1%
Analytics
(As of 03/31/2019)

Performance Statistics
3Y
5Y
Beta
1.07
1.02
Information Ratio
0.76
0.29
Standard Deviation
20.15
21.05
Upside Capture
112.38
105.43
Downside Capture
95.15
98.71
Tracking Error
6.10
5.81

    The Composite gross-of-fee returns reflect the reinvestment of income and the impact of transaction costs, but do not include the deduction of investment advisory fees, distribution expenses or any other account expenses, such as custodial fees. Composite net-of-fee returns are calculated by deducting a model investment advisory fee (using the maximum investment advisory fee as determined by the product's fee schedule) from the Composite gross-of-fee returns. Annual fees for the SteelPath Focused MLP product are 0.75% of the market value of the assets under management. Actual fees may vary depending on, among other things, the vehicle type, applicable fee schedule and portfolio size. While actual portfolios incur transaction expenses, pay investment advisory fees, and may incur other account expenses, the benchmark index is shown without the impact of such charges.

  1. 1. Holdings are subject to change and are dollar-weighted based on assets.
  2. 2. The mention of specific companies does not constitute a recommendation on behalf of OFI Global.
  3. 3. Holdings are subject to change, are dollar-weighted based on assets, and may not reflect the use of leverage in the Fund. Market Cap breakdown is calculated using Morningstar's methodology and those capitalization standards may not align with those in the Fund's prospectus.

  4. Investing in MLPs involves additional risks as compared to the risks of investing in common stock, including risks related to cash flow, dilution and voting rights. The strategy’s investments are concentrated in the energy infrastructure industry with an emphasis on securities issued by MLPs, which may increase volatility. Energy infrastructure companies are subject to risks specific to the industry such as fluctuations in commodity prices, reduced volumes of natural gas or other energy commodities, environmental hazards, changes in the macroeconomic or the regulatory environment or extreme weather. MLPs may trade less frequently than larger companies due to their smaller capitalizations which may result in erratic price movement or difficulty in buying or selling. Additional management fees and other expenses are associated with investing in MLPs.  
    Additionally, investing in MLPs involves material income tax risks and certain other risks. Actual results, performance or events may be affected by, without limitation, (1) general economic conditions, (2) performance of financial markets, (3) interest rate levels, (4) changes in laws and regulations and (5) changes in the policies of governments and/or regulatory authorities. Investing in MLPs may generate unrelated business taxable income (UBTI) for tax-exempt investors both during the holding period and at time of sale.

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