DALLAS, May 18, 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 February 23, 2018, Alliance Resource Partners,
L.P. (NASDAQ: ARLP) and Index constituent Alliance
Holdings GP, L.P. (NASDAQ: AHGP) and announced a series
of simplification transactions (the "Simplification Transactions")
whereby ARLP would acquire AHGP, subject to the written consent of
the holders of a majority of AHGP's common units. AHGP sent notice
to unitholders soliciting their written consent on April 27, 2018, and established a date 20
business days after that date, or May 25,
2018, as the earliest end of the consent period.
In the notice to unitholders sent April
27, 2018, AHGP stated that certain AHGP unitholders, which
collectively own a majority of the outstanding AHGP common units,
have agreed to deliver a written consent approving the
Simplification Transactions pursuant to a support agreement. As
AHGP has received sufficient consent to approve the transactions,
per the Index's Methodology Guide, the earliest end of the consent
period, or May 25, 2018, will be
deemed the date for replacing AHGP in the Index. Consequently,
after the market closes on May 25,
2018, and effective on May 29, 2018, Noble
Midstream Partners LP (NYSE: NBLX) will replace AHGP as a
constituent of the Index at AHGP's then-current weight.
There will be no changes to the remaining constituents of the
Index.
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