Alerian Announces Launch of ETN Tracking the Alerian MLP Infrastructure Index
Alerian announced today that UBS AG has launched an Exchange-Traded Note (ETN) listed on NYSE Arca under ticker symbol (MLPI) that provides investors single-security exposure to the Alerian MLP Infrastructure Index ( AMZI).
The Alerian MLP Infrastructure Index is an enhanced liquid subset of Master Limited Partnerships (MLPs) that includes only midstream energy transportation and storage assets, and whose methodology selects those energy infrastructure companies that are hard-asset focused. The index provides diversified exposure specifically to infrastructure investment.
“Trusted innovation and data integrity are the values that drive our benchmarks and data sets,” said Alerian President and CEO Kenny Feng. “We are pleased that UBS has recognized the importance of independence and objectivity in the indices underlying its E-TRACS platform, and has turned to Alerian to provide the precision that only our proprietary databases can deliver.”
The ETN will track the change in value of the Alerian MLP Infrastructure Index and pass on the corresponding distributions from the underlying companies as a quarterly coupon, net of fees. Unlike directly investing in MLPs, investors will not receive K-1s, but instead will receive one Form 1099 reflecting the distribution pass-through as ordinary income.
On March 31, 2010, Alerian announced a corporate rebranding to focus on its leading position as a provider of energy MLP indexing and analytics, and has also spun off its active management business as SteelPath Capital. Alerian does not give financial advice, and as such can provide truly independent indexing solutions for the energy MLP asset class. The firm plans to continue the growth of its index family, expanding the depth and breadth of its data sets and analytics for clients as part of a broader corporate strategy to bring additional resources, focus, and personnel to its industry-leading MLP indexing business.
About Alerian
Alerian is an independent company that provides objective market information. The company is a leader of MLP-market intelligence, providing benchmarks, data sets, and analytics that are used extensively by a range of stakeholders such as investment banks, stock exchanges, investment professionals and consultants, and Master Limited Partnerships. The Alerian Index Series is used for the purposes of asset allocation, investment analysis, portfolio hedging, and the creation of index tracking funds. Alerian is widely known for maintaining the leading benchmark of MLP equities: the Alerian MLP Index ( AMZ). For more information, please visit www.alerian.com.
Contacts
Client Relations:
Jackie Prostko
Alerian
+1 (214) 740-6020
jp@alerian.com
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