Tortoise Announces Completion of Fund Name and Investment Policy Changes for Tortoise Midstream Energy Fund, Inc.
January 07 2019 - 6:02PM
Business Wire
Tortoise today confirmed the completion of the previously
announced name change for its closed-end fund Tortoise Midstream
Energy Fund, Inc. (NYSE: NTG), formerly known as Tortoise MLP Fund,
Inc. Ticker symbol and CUSIP remain unchanged.
In addition, effective today is an amended investment policy for
NTG. Under the amended policy, under normal market conditions, NTG
will invest at least 80% of its total assets in equity securities
of midstream energy entities in the energy infrastructure sector,
including MLPs, with at least 50% of its total assets in equity
securities of natural gas infrastructure entities. Previously,
NTG’s investment policy stipulated that at least 80% of its total
assets would be invested in equity securities of MLPs. Written
notice was provided to stockholders of such changes on Nov. 7,
2018.
“This amendment to the investment policy and name change allows
greater flexibility for NTG to continue to invest in what we
believe are the most attractive midstream energy entities,
regardless of company structure,” said Tortoise Portfolio Manager
Matt Sallee. “This change enables the fund to continue to seek to
meet its objectives as the midstream energy landscape evolves.”
Energy Value Chain Conference Call
Tortoise will host a conference call on Jan. 23, 2019 at 3 p.m.
Central to discuss the energy sector and provide an update on the
energy value chain and Tortoise’s investment outlook.
Toll Free Dial-In Number: (877) 407-9210Replay Number: (877)
481-4010Replay ID: #41352 (available through Feb. 23, 2019)
About Tortoise
Tortoise specializes in essential assets and income. Tortoise
invests in assets and services that serve essential needs in
society and can also serve essential client needs, such as
diversification and income. Tortoise’s energy investing expertise
across the energy value chain, including infrastructure and MLPs,
dates back more than 15 years. Through a variety of investment
vehicles, Tortoise provides access to a wide range of client
solutions, focused on their evolving needs. For more information,
please visit www.tortoiseadvisors.com.
Tortoise Capital Advisors, L.L.C. is the Adviser to NTG.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction.
Forward-Looking statement
This press release contains certain statements that may include
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of
historical fact, included herein are "forward-looking statements."
Although the company and Tortoise Capital Advisors believe that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. Actual results
could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the company’s reports that are filed
with the Securities and Exchange Commission. You should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. Other than as required
by law, the company and Tortoise Capital Advisors do not assume a
duty to update this forward-looking statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20190107006070/en/
TortoisePam Kearney, 866-362-9331Investor and Public
Relationspkearney@tortoiseadvisors.com
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