3/09/2020 TEAF

Tortoise Essential Assets Income Term Fund (NYSE: TEAF) Provides Update on Fund’s Direct Investments and Portfolio Allocation


LEAWOOD, KS. – March 09, 2020 – Tortoise Essential Assets Income Term Fund (NYSE: TEAF) provides an update on direct investments and portfolio allocation as of Feb. 29, 2019 on the company website here.

Updates on the fund’s direct investments, portfolio asset allocation, structure types and impact statistics will continue to be posted here, on a monthly basis, until the fund reaches its target of 60% direct investments.

In addition, on a monthly basis, details on each private deal that has taken place over the prior month will be published here.

The list includes all deals completed since the fund’s inception through Feb. 29, 2020. 

Additionally, TEAF announced that its Board of Directors approved a modification to a non-fundamental investment policy, which will become effective immediately. To provide the investment team more flexibility in managing the fund and allow for the potential to capture market appreciation, the fund has increased its limit of non-U.S. securities to 50% from 30%.

About Tortoise Essential Assets Income Term Fund

TEAF is managed with a long-term focus on essential assets through public and direct investments across social infrastructure, sustainable infrastructure and energy infrastructure. These assets tend to be uncorrelated assets that have attractive potential for high total return with an emphasis on current income as well as a relatively inelastic demand profile.

About Tortoise

Tortoise invests in essential assets – those assets and services that are indispensable to the economy and society. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. For additional information, please visit tortoiseadvisors.com.

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.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the fund 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 fund’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 fund and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.

Contact Information

For more information contact Maggie Zastrow at (913) 981-1020 or info@tortoiseadvisors.com