Tortoise Launches Its First ETF With Dedicated Pipeline Sector Exposure Through Tortoise Index…

July 1, 2015 by

etfsTortoise announces the launch of its first ETF through its new index business, Tortoise Index Solutions. The Tortoise North American Pipeline Fund (NYSE Arca: TPYP) is designed to track the performance of the Tortoise North American Pipeline IndexSM, a leading benchmark representing the pipeline sector. TPYP will employ a passive management investment approach designed to correspond generally to TNAPT’s total return performance.

“TPYP offers passive exposure to the broad North American energy pipeline sector in an efficient fund structure with no taxation at the fund level”

“TPYP offers passive exposure to the broad North American energy pipeline sector in an efficient fund structure with no taxation at the fund level,” said Jeremy Goff, Vice President at Tortoise. “We believe TPYP provides investors a quality way to access both pipeline companies and pipeline MLPs through a passive strategy. We created this fund based on what we perceived as a need in the market for an ETF that not only provides access to the full universe of North American pipeline companies, but does so in a way that more fully captures the total return potential of these assets.”

Tortoise also announces the launch of Tortoise Index Solutions, LLC, a registered investment advisor and index developer that provides research-driven indices, exchange-traded products and thought leadership in the universe of essential assets. Tortoise’s suite of indices represents different sectors of the broader North American energy sector, using proprietary, research-driven and rules-based methodologies. Currently, Tortoise Index Solutions offers three indices on a price and total return basis: Tortoise MLP Index® (TMLP/TMLPT), Tortoise North American Pipeline IndexSM (TNAP/TNAPT), and Tortoise Oil & Gas Producers IndexSM(TNEP/TNEPT).

“We launched Tortoise Index Solutions to provide a platform for research-driven indices that provide reliable representation of investable asset classes and fill what we believe are market voids in an expanding asset class,” said Michelle Kelly, Managing Director at Tortoise. “The launch of this new business underscores our commitment to provide education and thought leadership for investment professionals, research analysts and industry executives, and highlights the benefits we believe our indices offer the market.”

The Tortoise North American Pipeline Fund was initiated in cooperation with Montage Investments. Montage’s diverse group of boutique asset managers offer multiple investment solutions, including mutual funds, closed-end funds, separately managed accounts and alternative partnership investments. Additional information regarding the fund may be obtained by calling 844-TR-INDEX (844-874-6339) or visiting www.tortoiseindexsolutions.com.

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