Tortoise MLP & Energy Infrastructure Fund Class Institutional (MLPPX) is a mutual fund that seeks long-term capital appreciation and current income through investments in publicly traded equity and debt securities of master limited partnerships (MLPs) and energy infrastructure companies, including pipeline operators, storage facilities, and related midstream assets that transport, store, gather, process, distribute, or market crude oil, refined petroleum products, natural gas, natural gas liquids, and biodiesel; the fund maintains at least 80% of its net assets plus borrowings for investment purposes in such securities, with a focus on non-diversified exposure to the energy sector.
Managed by Tortoise Capital Advisors, L.L.C., headquartered in Overland Park, Kansas and founded in 2002, the fund targets institutional investors seeking income from energy value chain participants across North American markets, primarily the United States.
In a major strategic change, as of the close of business on June 25, 2021, the Tortoise MLP & Energy Infrastructure Fund Institutional Class merged into the Tortoise MLP & Energy Income Fund Institutional Class, with distribution and tax information thereafter provided for informational purposes only; no significant acquisitions, partnerships, funding rounds, new product launches, or operational shifts for MLPPX have been reported in the last 1-2 years.