DALLAS, Nov. 2, 2018 /PRNewswire/ -- Swank Capital, LLC
and Cushing® Asset Management, LP announce an upcoming interim
rebalance of The Cushing® MLP Market Cap Index (the
"Index"). Per the Index's methodology guide, a constituent change
due to a distribution cut will take place on the latter of the
distribution ex-date or the last business day of the week that is
at least five business days after the day on which the announcement
is made. Due to the November 2, 2018,
distribution cut announcement by Buckeye Partners, L.P. (NYSE:
BPL), after the market closes on November 9, 2018, (the
distribution ex-date) and effective on November 12, 2018, Genesis Energy, L.P. (NYSE:
GEL) will replace BPL as a constituent of the Index at BPL's
then-current weight.
There will be no changes to the remaining constituents of the
Index due to this event.
ABOUT THE CUSHING®
MLP MARKET CAP INDEX
The Cushing® MLP
Market Cap Index provides a benchmark that is designed to track the
performance of widely held midstream energy infrastructure
companies, including master limited partnerships (MLPs) and non-MLP
midstream corporations (each, a "Midstream Company" and
collectively, "Midstream Companies"). 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 Midstream
Companies. 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 Midstream Companies 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 Swank Capital, LLC and Cushing® Asset Management, LP