DALLAS, Feb. 7, 2020 /PRNewswire/ -- Cushing® Asset Management, LP,
and Swank Capital, LLC, announce an upcoming interim change to
the constituents 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 February 5, 2020,
distribution cut announcement by Black Stone Minerals, L.P. (NYSE:
BSM), after the market closes on February 14, 2020, (the
last business day of the week at least 5 business days after BSM's
announcement) and effective on February 18,
2020, Tellurian Inc. (NASDAQ: TELL) will replace BSM as a
constituent of the Index at BSM'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 CUSHING® ASSET
MANAGEMENT AND SWANK CAPITAL
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,
providing active management in markets where inefficiencies
exist.
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) and The Cushing® MLP High Income Index
(Bloomberg Ticker: MLPY). For more information, please visit
http://www.cushingasset.com/indices.
Contact:
Jon Abel
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.
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SOURCE Cushing® Asset Management, LP and Swank Capital, LLC