DALLAS, Nov. 24, 2015 /PRNewswire/ -- Swank Capital,
LLC and Cushing® Asset Management, LP announce a potential
interim change to The Cushing® MLP High Income Index (the "Index").
Index constituent MarkWest Energy Partners, L.P. (NYSE: MWE)
previously entered into an Agreement and Plan of Merger with
MPLX LP (NYSE: MPLX) wherein MWE would be acquired by
MPLX, subject to the approval of MWE unitholders. A special meeting
of the unitholders of MWE is scheduled for December 1, 2015, at 9:00
AM Mountain Standard Time for the purpose of considering and
voting on the proposed acquisition.
If the acquisition is approved, MWE will be removed from the
Index and replaced with Targa Resources Corp. (NYSE: TRGP) after
the markets close on December 1,
2015. The change will be effective on December 2, 2015.
The remaining constituents of the Index will be unaffected.
If the acquisition is not approved, there will be no change to
the 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 (Bloomberg Ticker: MLPX), The Cushing® MLP
Market Cap Index (Bloomberg Ticker: CMCI) and The
Cushing® Upstream
Energy Income Index (Bloomberg Ticker: CRTY). For more
information, please visit
www.swankcapital.com/the-cushing-indices.
The Cushing® MLP High Income Index (the "Index") is the
exclusive property of 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 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 Swank Capital, LLC