Separately Managed Accounts

Separately Managed Accounts (SMA) and Unified Managed Accounts (UMA)

EIP manages numerous separately managed accounts (SMAs). Under the supervision of a financial advisor, investors may access the EIP Energy Infrastructure and MLP Income Strategy on a number of approved platforms.

Investors can expect to receive multiple K-1s as the securities in separately managed accounts are held directly by the investing entity. In managing SMAs for investors, EIP teams up with First Trust Advisors L.P. (“First Trust”), and First Trust serves as the Wholesaler for the SMA products. First Trust can provide further information about this service.

Investment Objective

The investment objective of Energy Income Partners, LLC (EIP) Energy Infrastructure and MLP Income Strategy is to generate above-average returns and yield by investing in Master Limited Partnerships (MLPs) and MLP affiliates, Utilities, Yield Corporations (“YieldCos”) and Energy Infrastructure Real Estate Investment Trusts (“REITS”).

The companies included in this portfolio operate energy infrastructure such as pipelines and storage facilities with stable fee-for-service revenues, conservative balance sheets and superior management teams. EIP seeks to minimize commodity exposure through stock selection and portfolio construction. The majority of the portfolio is invested in companies that pay out most or all of their free cash flow every quarter. These cash flows are derived from either regulated tariffs or long-term contracts that are generally not linked to commodity prices, yet often have price escalators linked to inflation or actual costs.

 

Name of Product Energy Infrastructure & MLP Income Strategy
Structure Separately Managed Account
Gross AUM

as of date

Please email ir@eipinvestments.com

 

Inception 12/31/2009
Withdrawals 10 day notice
Management Fees &

Performance Incentive

75 bps*

None

Minimum Investment $250K
Trade Execution directed brokerage
Leverage No
Custodian Various (contact First Trust)
Number of Holdings 30-50
Tax Reporting** Multiple K-1s
Potential for UBTI** Yes

 

EIP also provides a model to Unified Managed Account platforms also known as turn-key asset management programs or overlay managers. Investors looking for this service can allocate to EIP at Morgan Stanley, LPL Financial and various custodians via Envestnet. Terms for the Unified Managed account are available from your Financial Advisor.

The above chart summarizes the terms of some of the Funds and Accounts managed by EIP. Investors are encouraged to read the respective Fund’s offering documents for the terms and risks associated with investing in the Fund. Investors are also encouraged to read the Energy Income Partners, LLC’s (EIP) ADV Parts I and II for further information on EIP, including risks factors associated with the strategy. Fund and account terms may change at any time without notice to you unless you are an investor in that Strategy. The returns are presented as of the date shown above. Net-of-fees performance is calculated by deducting the management fees, performance fees (if applicable) and other advisor fees from monthly gross return. They are net of the Management Fees and Performance Fees, if any. Returns are not net of any placement fees or sales load. Past performance is no indication of future performance. SMA performance is net of the SMA advisor fee.

*SMA advisor fee: The standard fixed advisor fee ranges up to 1.25% per annum. Advisor fees are determined by the individual investment advisor.

** Energy Income Partners does not provide tax advice. We strongly advise you to consult your tax professional for advice on all tax requirements.

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