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 05/31/2019)
$48.80 MM
Composite Benchmark
Alerian MLP Total Return Index
Available Vehicles
Separate Account
Model Portfolio Delivery
Performance
Average Annual Returns
Calendar Year Returns
as of 05/31/2019
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 2019-05-31
1 yr 3 yr 5 yr 10 yr since inception
SteelPath Focused MLP (gross of fees)
14.33% 2.59% 1.90% -5.20% 9.53% 11.72%
SteelPath Focused MLP (net of fees)
14.00% 1.86% 1.17% -5.88% 8.74% 10.91%
Alerian MLP Total Return Index
13.95% -1.12% 0.38% -6.62% 7.74% 8.10%

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%
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 05/31/2019)

Performance Statistics
3Y
5Y
Beta
0.97
1.02
Information Ratio
0.43
0.25
Standard Deviation
16.75
20.86
Upside Capture
102.26
104.90
Downside Capture
95.54
98.83
Tracking Error
3.55
5.80
Team

    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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