MLPs: Come for the Yield, Stay for the Growth

 

2016 K-1s - % Issued

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Growth Means Quality for MLPs

 

In the broader equity markets, “growth” stocks are generally best described as companies with strong earnings prospects, high P/E ratios, and low dividend yields. They are typically associated with additional risk, given their high valuations and momentum oriented nature. In the MLP asset class, however, the Growth MLPs are a much different breed.

 
Short-Term
Long-Term
Name Ticker WTD MTD QTD YTD
Yorkville MLP Universe IndexYMLPU0.0%-2.8%2.0%2.0%
Yorkville MLP Commodity Universe IndexYCOMU0.0%-3.7%-1.3%-1.3%
Yorkville MLP Infrastructure Universe IndexYINFU0.0%-2.7%2.4%2.4%
S&P 500SPX0.0%0.7%6.7%6.7%

* Annualized Total Returns as of 3/17/2017

 
      Annualized
Name Ticker 1 Year 3 Year 5 Year 10 Year
Yorkville MLP Core Income StrategyMLPC15.6%-3.0%10.6%7.5%
S&P 500SPX8.1%9.1%14.5%6.9%

* Total Returns as of 12/30/2016

** 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.