DALLAS, Oct. 20, 2017 /PRNewswire/ -- Swank Capital, LLC and Cushing® Asset Management, LP announce an upcoming interim constituent change to the constituents of The Cushing® MLP High Income Index (the "Index"). On August 14, 2017, Index constituents Andeavor Logistics LP ANDX and Western Refining Logistics, LP WNRL announced an Agreement and Plan of Merger wherein WNRL would be acquired by ANDX, subject to the consent of holders of at least a majority of the WNRL common units. The companies announced on September 28, 2017, that sufficient consent had been received and that the merger is expected to close on October 30, 2017. As a result of the merger, after the market closes on October 27, 2017, and effective on October 30, 2017, WNRL will be removed from the Index and replaced with Hi-Crush Partners LP HCLP at WNRL's then-current weight.
There will be no changes to the remaining constituents of the Index.
ABOUT THE CUSHING® MLP HIGH INCOME INDEX
The Cushing® MLP High Income Index provides a benchmark that is designed to track the performance of 30 publicly traded energy and shipping master limited partnership (MLP) securities with an emphasis on current yield. The securities are chosen for inclusion according to a three-tier proprietary weighting system developed by Cushing® Asset Management, LP. The Cushing® MLP High Income Index is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "MLPY".
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 MLPX, The Cushing® MLP Market Cap Index CMCI ), The Cushing® Energy Index CENI, The Cushing® Energy Supply Chain Index CSCI, The Cushing® Transportation Index CTRI and The Cushing® Utility Index CUTI. For more information, please visit http://www.cushingasset.com/indices.
Contact:
Judson Redmond
214-692-6334
www.cushingasset.com
The Cushing® MLP High Income Index (the "Index") is the exclusive property of Swank Capital, LLC and Cushing® Asset Management, LP, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to maintain and calculate 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 Swank Capital, LLC, and Cushing® Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones S&P 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-MLPY
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SOURCE Cushing Asset Management, LP; Swank Capital, LLC
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