NEW YORK, April 30, 2015 /PRNewswire/ -- The Dreyfus
Corporation and The Boston Company Asset Management (TBCAM), both
businesses of BNY Mellon, have launched the Dreyfus MLP Fund, which
provides individual investors with an opportunity to invest in the
entities which own and operate the critical infrastructure
underpinning the energy industry in the U.S.
The fund primarily invests in master limited partnerships (MLPs)
and related entities which own and operate assets used in the
midstream segment of energy infrastructure such as oil and gas
pipelines, storage terminals, gathering systems, processing plants
and export facilities.
The MLP market has matured and grown to support the build out of
the U.S. energy infrastructure, according to Bart Grenier, chief executive officer and chief
investment officer of TBCAM, the sub-adviser to the MLP fund.
He added, "MLPs are designed to provide a tax efficient way to
invest in energy infrastructure. The Dreyfus MLP Fund aims to
provide access to the MLP asset class, while focusing on strong
current yield and total return. Our portfolio managers use an
event-driven approach and actively seek to identify catalysts which
have the potential to drive stock appreciation."
Grenier added, "This is an attractive investment segment as it
is composed of assets that deliver critical services to energy
providers and tend to have long-term, fee-based contracts; yet they
are difficult to replace in an industry with high barriers to
entry."
The fund is managed by Robert A.
Nicholson and Zev D.
Nijensohn, who joined TBCAM in November, 2014, as senior
managing directors and senior portfolio managers from Pine Cobble
Capital LLC, which they co-founded in 2007. The team manages
TBCAM's Energy Infrastructure MLP strategy for institutional
investors which they launched in April 2013.
"Energy infrastructure is an attractive investment area for
active managers such as TBCAM," said Nijensohn. "It is a
market sector that generally is not widely followed or held in
portfolios by traditional asset managers. In addition, we
believe it is a dynamic operational and transaction environment,
driven by large capital projects, joint ventures and acquisitions,
creating a robust environment for event-driven investing."
Nicholson added that this has been attractive asset class for
the last decade. "We believe the recent dislocation in energy
markets provides an opportune time to bring this strategy to retail
investors. The mutual fund structure provides investors with
daily liquidity, transparency and flexibility along with the
simplified tax reporting of a 1099 rather than multiple K-1s," he
said.
The Boston Company Asset Management, LLC, a BNY Mellon
Investment Management boutique, provides active equity
investment-management services for corporate, public, mutual funds
and union sponsored and jointly trusteed retirement plans,
endowments and foundations. Assets are managed by The Boston
Company as well as its personnel acting as dual officers of either
The Dreyfus Corporation or The Bank of New York Mellon.
The Dreyfus Corporation, established in 1951 and headquartered
in New York City, is one of the
nation's leading asset management and distribution companies
currently managing more than $284
billion in mutual funds and other cash management
vehicles. MBSC Securities Corporation is a Dreyfus
subsidiary.
BNY Mellon Investment Management is one of the world's leading
investment management organizations and one of the top U.S. wealth
managers, with $1.7 trillion in
assets under management. It encompasses BNY Mellon's affiliated
investment management firms, wealth management services and global
distribution companies. More information can be found at
www.bnymellon.com.
BNY Mellon is a global investments company dedicated to helping
its clients manage and service their financial assets throughout
the investment lifecycle. Whether providing financial services for
institutions, corporations or individual investors, BNY Mellon
delivers informed investment management and investment services in
35 countries and more than 100 markets. As of March 31, 2015, BNY Mellon had $28.5 trillion in assets under custody and/or
administration, and $1.7 trillion in
assets under management. BNY Mellon can act as a single point of
contact for clients looking to create, trade, hold, manage,
service, distribute or restructure investments. BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation (NYSE:
BK). Additional information is available on www.bnymellon.com, or
follow us on Twitter @BNYMellon.
All information source BNY Mellon as of March 31, 2015. This press release is qualified
for issuance in the US only and is for information purposes only.
It does not constitute an offer or solicitation of securities or
investment services or an endorsement thereof in any jurisdiction
or in any circumstance in which such offer or solicitation is
unlawful or not authorized. This press release is issued by BNY
Mellon Investment Management to members of the financial press and
media and the information contained herein should not be construed
as investment advice. Past performance is not a guide to
future performance. A BNY Mellon Company.
Main Risks
Asset allocation and diversification cannot guarantee a profit
or protect against loss.
Master Limited Partnership (MLP) investments involve
risks that differ from investments in common stock, including risks
related to limited control and limited rights to vote on matters
affecting the MLP, risks related to potential conflicts of interest
between the MLP and the MLP's general partner, cash flow risks,
dilution risks and risks related to the general partner's right to
require unit-holders to sell their common units at an undesirable
time or price. Under normal circumstances, the fund concentrates
its investments in the energy sector, focusing on energy
infrastructure MLPs, and may, therefore, be more susceptible to the
risks affecting such sector and MLPs. In addition, the fund's
performance may be more vulnerable to changes in the market value
than more broadly diversified funds. The use of derivative
instruments involves risks different from, or possibly greater
than, the risks associated with investing directly in the
underlying assets. A small investment in derivatives could have a
potentially large impact on the fund's performance. Short
sales may involve substantial risk and "leverage." Short sales
expose the fund to the risk that it will be required to buy the
security sold short at a time when the security has appreciated in
value, thus resulting in a loss. Exposure to the commodities
markets may subject the fund to greater volatility than
investments in traditional securities.
Investors should consider the investment objectives,
risks, charges and expenses of the fund carefully before investing.
To obtain a prospectus, or a summary prospectus, if available, that
contains this and other information about the fund, investors
should contact their financial advisors or visit Dreyfus.com.
Investors should read the prospectus carefully before
investing.
MBSC Securities Corporation, distributor.
Contact:
Mike Dunn
+1 212 922 7859
mike.g.dunn@bnymellon.com
Stan Neve
+1 212 635 7314
stan.neve@bnymellon.com
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SOURCE BNY Mellon