DALLAS, Dec. 9, 2015 /PRNewswire/ -- The Cushing® MLP Total Return Fund
(NYSE: SRV), The Cushing® Energy Income Fund
(formerly known as the Cushing® Royalty & Income Fund)
(NYSE: SRF) and The Cushing® Renaissance Fund (NYSE:
SZC) (each, a "Fund, and collectively, the "Funds") announced that
effective December 7, 2015,
Daniel L. Spears resigned from
Cushing® Asset
Management, LP, the Funds' investment adviser ("Cushing"), and as President of the Fund.
Mr. Spears will no longer be involved in the day-to-day management
of the Funds. The remainder of SRV's portfolio management
team, Jerry V. Swank and
N. Paul Euseppi, will continue to
manage SRV. The remainder of SRF's portfolio management team,
Jerry V. Swank and Judd B. Cryer, will continue to manage
SRF. Mr. Swank has been appointed President of the Funds in
addition to his current position as Chief Executive Officer.
SRV is a non-diversified, closed-end management investment
company with an investment objective of seeking a high after-tax
total return from a combination of capital appreciation and current
income. The Fund seeks to achieve its investment objective by
investing, under normal market conditions, at least 80% of its net
assets, plus any borrowings for investment purposes, in master
limited partnership (MLP) investments. The Fund is traded on
the New York Stock Exchange under the symbol "SRV."
SRF is a non-diversified, closed-end management investment
company with an investment objective of seeking a high total return
with an emphasis on current income. The Fund seeks to provide
shareholders with a tax-efficient vehicle to invest in a portfolio
of energy-related U.S. royalty trusts, exploration and production
master limited partnerships (E&P MLPs) and Canadian royalty
trusts and exploration and production companies and other energy
assets. The Fund is traded on the New York Stock Exchange
under the symbol "SRF."
SZC is a non-diversified, closed-end management investment
company with an investment objective of seeking a high total return
with an emphasis on current income. The Fund seeks to provide
shareholders with a vehicle to invest in an actively managed
portfolio of companies that may benefit from the developing U.S.
energy, industrial and manufacturing renaissance. The Fund is
traded on the New York Stock Exchange under the symbol "SZC."
The Funds are managed by Cushing. No assurance can be given that a
Fund's investment objective will be achieved.
ABOUT CUSHING® ASSET
MANAGEMENT, LP
Cushing, a subsidiary of Swank
Capital, 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. As
of September 30, 2015, Cushing had approximately $3.4 billion of assets under management in
closed-end funds, mutual funds, privately offered funds and
separately managed accounts.
IMPORTANT INFORMATION
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 Funds and Cushing
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 Funds and Cushing do not assume a duty to update this
forward-looking statement.
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visit:http://www.prnewswire.com/news-releases/cushing-funds-announce-personnel-change-300190204.html
SOURCE Cushing Asset Management, LP