DALLAS, July 13, 2018 /PRNewswire/ -- Swank Capital,
LLC and Cushing® Asset Management, LP announce an upcoming
interim change to the constituents of The Cushing®
MLP Market Cap Index (the "Index"). On April
25, 2018, Index constituents EQT Midstream Partners, LP
(NYSE: EQM) and Rice Midstream Partners LP (NYSE: RMP) entered into
an agreement and plan of merger wherein EQM would acquire RMP,
subject to the approval of RMP unitholders. A special meeting of
RMP unitholders is scheduled for July 20, 2018, for the
purpose of considering and voting on the proposed transaction. Per
the Index's methodology guide, after the market closes on
July 20, 2018, and effective on July 23, 2018,
Sunoco LP (NYSE: SUN) will replace RMP as a constituent of the
Index at RMP's then-current weight.
There will be no changes to the remaining constituents of the
Index on that date.
ABOUT THE CUSHING®
MLP MARKET CAP INDEX
The Cushing® MLP
Market Cap Index tracks the performance of widely held master
limited partnerships (MLPs). The Index is weighted on a
float-adjusted market capitalization basis, with the weight of each
constituent capped at 7.5% at rebalance. The Index price level is
calculated by S&P Dow Jones Indices while the constituents are
selected from the entire universe of publicly traded MLPs.
The Cushing® MLP Market
Cap Index is calculated by S&P Dow Jones Indices and reported
on a real-time basis under the Bloomberg ticker "CMCI".
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 High Income Index
(Bloomberg Ticker: MLPY) ), The Cushing® Energy Index (Bloomberg
Ticker: CENI), The Cushing® Energy Supply Chain Index
(Bloomberg Ticker: CSCI), The Cushing® Transportation Index
(Bloomberg Ticker: CTRI) and The Cushing® Utility Index (Bloomberg
Ticker: CUTI). For more information, please visit
http://www.cushingasset.com/indices.
Contact:
Judson Redmond
214-692-6334
www.cushingasset.com
The Cushing® MLP Market Cap Index (the "Index") is the exclusive
property of Swank Capital, LLC, and Cushing Asset Management, LP,
which have contracted with S&P Opco, LLC (a subsidiary of
S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to
calculate and maintain 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 nor any of their affiliates sponsor and
promote the Index and none shall be liable for any errors or
omissions in calculating the Index.
CUSH-CMCI
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SOURCE Cushing Asset Management, LP; Swank Capital, LLC