Fri, 15/02/2013 - 06:01
Yorkville ETF Advisors has expanded its line-up of master limited partnership (MLP) products with the launch of the Yorkville High Income Infrastructure MLP ETF (YMLI).
YMLI provides exposure to infrastructure MLPs, which offer capital appreciation potential as a group of companies expected to grow significantly over the next decade in response to demand for pipelines, storage and processing systems required by rapidly growing US energy production.
“Infrastructure MLPs provide investors with a potential source of high income and distribution growth in a yield-starved environment,” says Darren Schuringa (pictured), managing partner of Yorkville ETF Advisors. “YMLI represents Yorkville’s latest step toward offering a complete suite of products built on the firm’s extensive MLP research and asset management experience.”
YMLI’s debut complements the Yorkville High Income MLP ETF (YMLP), which was seventh among all new equity ETFs in 2012 as defined by net asset inflows. The two offerings have no overlap in holdings and, together, provide composite exposure to the MLP universe.
“Our rules-based index products empower investors with new tools to customise their asset class exposure depending on their needs,” says Schuringa.
The Solactive High Income Infrastructure MLP Index, which YMLI tracks, is the only MLP index that utilises a three-level screen to provide the basis for both quality (as defined by stable and growing distributions) and high income within a less concentrated portfolio.
Index constituents have market capitalisations greater than USD1bn and three-month average daily trading volume of four million dollars. The 25 constituents with the proper balance of income quality and quantity – as determined by the index provider and measured by distribution size, growth and coverage ratio – are selected as equal-weighted index holdings, resulting in a less concentrated high income portfolio.
The index, which is rebalanced annually, is published and maintained by Structured Solutions. Structured Solutions determines the components and relative weightings of the securities in the index and publishes information regarding the index.
Exchange Traded Concepts will serve as investment adviser to YMLI. Yorkville ETF Advisors and Index Management Solutions will serve as sub-advisers.
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