LEAWOOD, Kan. -- January 7, 2019 -- (BUSINESS WIRE) -- Tortoise today confirmed the completion of the previously announced name change for its closed-end fund Tortoise Midstream Energy Fund, Inc. (NYSE: NTG), formerly known as Tortoise MLP Fund, Inc. Ticker symbol and CUSIP remain unchanged.
In addition, effective today is an amended investment policy for NTG. Under the amended policy, under normal market conditions, NTG will invest at least 80% of its total assets in equity securities of midstream energy entities in the energy infrastructure sector, including MLPs, with at least 50% of its total assets in equity securities of natural gas infrastructure entities. Previously, NTG‘s investment policy stipulated that at least 80% of its total assets would be invested in equity securities of MLPs. Written notice was provided to stockholders of such changes on Nov. 7, 2018.
This amendment to the investment policy and name change allows greater flexibility for NTG to continue to invest in what we believe are the most attractive midstream energy entities, regardless of company structure, said Tortoise Portfolio Manager Matt Sallee. This change enables the fund to continue to seek to meet its objectives as the midstream energy landscape evolves.
Energy Value Chain Conference Call
Tortoise will host a conference call on Jan. 23, 2019 at 3 p.m. Central to discuss the energy sector and provide an update on the energy value chain and Tortoise‘s investment outlook.
Toll Free Dial-In Number: (877) 407-9210
Replay Number: (877) 481-4010
Replay ID: #41352 (available through Feb. 23, 2019)
Tortoise specializes in essential assets and income. Tortoise invests in assets and services that serve essential needs in society and can also serve essential client needs, such as diversification and income. Tortoise‘s energy investing expertise across the energy value chain, including infrastructure and MLPs, dates back more than 15 years. Through a variety of investment vehicles, Tortoise provides access to a wide range of client solutions, focused on their evolving needs. For more information, please visit www.tortoiseadvisors.com.
Tortoise Capital Advisors, L.L.C. is the Adviser to NTG.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
This press release contains certain statements that may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the company and Tortoise Capital Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the company‘s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the company and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.