Barclays Bank and OFI Global Asset Management have made changes to the constituents of the Barclays OFI SteelPath Midstream MLP Index.
The following constituents – Buckeye Partners, Summit Midstream Partners and Southcross Energy Partners – will all be removed from the index as of the close of business on 11 July.
Atlas Pipeline Partners, Atlas Energy and Holly Energy Partners will be added.
The Barclays OFI SteelPath MLP ETNs are linked to the Volume-Weighted Average Price (VWAP) of the index. The ETNs were listed on the NYSE Arca stock exchange on 24 April 2014.
The index is designed to track the performance of a basket of direct interests in master limited partnerships and limited liability companies organised in the US that trade on certain US exchanges, are classified in the Midstream Oil & Gas category or Liquid Petroleum & Natural Gas Shippers category according to the Bloomberg Industry Classification System and meet certain eligibility criteria.
The index constituents are selected for inclusion in the index using the OFI SteelPath Midstream MLP Strategy developed by OFI SteelPath, Inc. The strategy selects a basket of up to 35 index constituents and allocates a notional weight in the index for each index constituent based on certain eligibility criteria, including their distribution payment history and their size as measured by free-float market capitalisation and average daily trading value.
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