Tortoise Capital Advisors Introduces New Open-End Mutual Fund

The Tortoise North American Energy Independence Fund provides dedicated focus on oil and gas production growth potential, supporting energy independence

LEAWOOD, Kan.–(BUSINESS WIRE)– Tortoise Capital Advisors today announced the introduction of the Tortoise North American Energy Independence Fund, an open-end mutual fund that invests primarily in equity securities of North American oil and gas production companies.

“We are in a new era of unprecedented North American production growth that has the potential to make our nation increasingly energy independent. This fund seeks to directly participate at the heart of this opportunity, targeting companies across North America with a strong presence in premier shale basins,” said Tortoise senior investment analyst, Rob Thummel.

The fund expands upon Tortoise’s leadership and history in the sector. Tortoise formed the first NYSE-listed closed-end fund focused on energy infrastructure MLPs in 2004 and is one of the largest investment managers of registered energy infrastructure funds. As an industry pioneer, Tortoise has managed energy infrastructure investments for nearly a decade, across economic cycles and natural disasters.

“The newest addition to the Tortoise family is a differentiated and complementary investment alternative, providing dedicated access to domestic oil and gas production that could dramatically alter North American relevance around the globe,” stated Tortoise’s director of product development, Michelle Kelly. “Additionally, the fund supports job creation, increased tax revenues, national security and the theme of energy independence for decades to come.”

The fund is structured as a traditional mutual fund providing daily liquidity at NAV, with flow-through tax treatment and no taxation at the fund level. Simplified tax reporting is provided to investors through a single 1099. Investor, C Class and Institutional shares are available under the symbols TNPTX, TNPCX and TNPIX, respectively.

The fund was initiated in cooperation with Montage Investments. Montage’s diverse group of boutique asset managers offer multiple investment solutions, including mutual funds, closed-end funds, separately managed accounts and alternative partnership investments. Additional information regarding the fund may be obtained by calling 855-TCA-FUND (855-822-3863) or visiting www.tortoiseadvisors.com.

About Tortoise Capital Advisors, LLC

Tortoise Capital Advisors, L.L.C. is an investment manager specializing in listed energy investments. Tortoise is considered a pioneer in managing portfolios of MLP securities and other energy companies for individual, institutional and closed-end fund investors As of …read more
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