Growth Matters

Darren Schuringa, CIO of Yorkville Capital Management explains the benefits of adding growth oriented master limited partnerships (MLPs) to diversified portfolios.

MLP Fund Structures

The Benefits of Various MLP Investment Vehicles

2nd Quarter 2015


Stability Score

In the 2nd Quarter 2015, 88% of all MLPs either maintained or increased their distributions.


2nd Quarter 2015


Growth Score

2.1% was the average distribution growth on a year-over-year basis for 2nd Quarter 2015

Rising Rates – A Positive or Negative for MLPs?


There is a widely held belief that MLPs are negatively impacted by increases in interest rates. Yorkville has analyzed MLPs’ price sensitivity to interest rates during every rising interest rate environment and Federal Reserve tightening cycle since 1992. To find out whether rising rates are positive or negative for MLPs, read this month’s MLP Beat.

Yorkville MLP Universe IndexYMLPU3.3%-4.3%-4.3%-11.2%
Yorkville MLP Commodity Universe IndexYCOMU0.8%-10.2%-10.2%-14.7%
Yorkville MLP Infrastructure Universe IndexYINFU3.7%-3.3%-3.3%-10.6%
S&P 500SPX1.2%2.1%2.1%3.4%

* Annualized Total Returns as of 7/31/2015

Name Ticker 1 Year 3 Year 5 Year 10 Year
Yorkville MLP Core Income StrategyMLPC-19.0%21.5%22.2%12.1%
S&P 500SPX7.4%17.3%17.3%7.9%

* Total Returns as of 6/30/2015

** Note: MLP Core Income Strategy returns are shown in U.S. dollars gross of fees

Yorkville Capital Management LLC claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. Yorkville Capital Management LLC has been independently verified for the periods 8/31/2006 through 12/31/2007. Verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm’s policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. The Yorkville MLP Core Income Strategy has had a performance examination beginning 12/31/2006. The verification and performance examination reports are available upon request.

The MLP Core Income Strategy contains fully discretionary equity accounts. The composite invests primarily in Master Limited Partnerships (MLPs). The investment objective of the strategy is to deliver stable income, growing distribution, and capital appreciation. The inception of the composite is 1/16/07. Performance presented prior to January 17, 2007 occurred while the Portfolio Manager was affiliated with a prior firm and the Portfolio Manager was the only individual responsible for selecting the securities to buy and sell.

Yorkville Capital Management LLC is an independent registered investment advisor. The firm maintains a complete list and description of composites, which is available upon request.