Alerian has launched an exchange-traded fund providing access to the master limited partnership asset class.

The Alerian MLP ETF provides exposure to the Alerian MLP Infrastructure Index.

The index is a liquid, midstream-focused subset of energy MLPs whose constituents earn the majority of their cash flow from the transportation, storage, and processing of energy commodities. The index provides diversified, hard-asset exposure specifically to infrastructure investment.

"Alerian is thrilled to provide the index supporting the launch of the first MLP ETF and bring investors a new standard in liquidity and transparency to access the MLP asset class," says Alerian president and chief executive Kenny Feng. "The Alerian MLP ETF provides a single Form 1099, no K-1s, and allows investors to potentially benefit from return of capital and qualified dividend tax treatment of distributions. We believe this product is the answer to what the marketplace has demanded for years and represents a breakthrough in MLP investment."