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ETRACS launches first MLP ETN to track non-energy MLPs

Wed, 25/06/2014 - 06:01

UBS Investment Bank has launched the ETRACS Wells Fargo MLP Ex-Energy ETN (FMLP), which is linked to the performance of the Wells Fargo Master Limited Partnership Ex-Energy Index.

FMLP is the first MLP ETN to offer exposure to non-energy master limited partnerships.
 
FMLP offers investors:
 
•             Income potential in the form of a variable monthly coupon linked to the cash distributions, if any, on the index constituents, less investor fees.
 
•             Exposure to an index comprised of publicly traded companies receiving partnership taxation treatment that derive a majority of their income from non-energy related activities.
 
•             Convenience of an exchange-traded security.
 
“Investors have increasingly focused on MLPs as an asset class,” says Christopher Yeagley, head of ETRACS. “This is the first product with exposure to MLPs that exclusively operate outside of the energy industry.”


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