Experience...The Difference

Investing in energy Master Limited Partnerships (MLPs) can provide an array of compelling characteristics...just look at the sector's performance compared to broader equity markets and other asset classes, its distribution record, and the liquidity and flexibility of public trading (see Figures MLP 1, 2, 3).

Now you can tap into the MLP asset class with the convenience of a mutual fund...1099 tax reporting, no K-1s or UBTI, and daily liquidity at NAV.

As you explore the opportunity to capitalize on the potential role that MLPs can play, we hope you will call upon the expertise of those who have been immersed in the sector from its earliest days. The portfolio managers of Chickasaw Capital Management — advisor of the MainGate MLP Fund — have spent an average of 29 years within the MLP sector...we believe this makes us one of the most experienced MLP investment teams in the U.S.

Learn more about putting our experience and expertise to work for you and your clients.

Capital Gains

Due to the Fund’s "C" corporation tax structure, shareholders receive a 1099 DIV statement that reflects income received and Return of Capital associated with quarterly distributions for the year. There will be no capital gains reflected on the 1099.

Potential capital gain/loss activity from the Fund’s investment portfolio is handled at the Fund level and does not flow to the Fund shareholder via their 1099.

Individual Investors

You should consider the MainGate MLP Fund's ("Fund") investment objectives, risks, charges and expenses carefully before investing. For a prospectus that contains this and other information, click here. To have a hardcopy prospectus mailed to you, call 855.MLP.FUND (855.657.3863).

The Fund is offered only to United States residents and information on this website is intended only for such persons. Nothing on this website should be considered a solicitation to buy or an offer to sell shares of the Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction. Past performance does not guarantee future results. Index performance is not illustrative of fund performance. An investment cannot be made directly in an index. Diversification does not assure a profit or protect against a loss in a declining market.

Mutual fund investing involves risk. Principal loss is possible. The Fund is nondiversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund. The Fund will invest in Master Limited Partnerships (MLPs) which concentrate investments in the natural resource sector and are subject to the risks of energy prices and demand and the volatility of commodity investments. Damage to facilities and infrastructure of MLPs may significantly affect the value of an investment and may incur environmental costs and liabilities due to the nature of their business. MLPs are subject to significant regulation and may be adversely affected by changes in the regulatory environment. Investments in smaller companies involve additional risks, such as limited liquidity and greater volatility. Investments in foreign securities involve greater volatility and political, economic and currency risks and differences in accounting methods. MLPs are subject to certain risks inherent in the structure of MLPs, including complex tax structure risks, limited ability for election or removal of management, limited voting rights, potential dependence on parent companies or sponsors for revenues to satisfy obligations, and potential conflicts of interest between partners, members and affiliates.

An investment in the Fund does not receive the same tax advantages as a direct investment in the MLP. The Fund is treated as a regular corporation or “C” corporation and is therefore subject to U.S. federal income tax on its taxable income at rates applicable to corporations (currently at a rate of 21%) as well as state and local income taxes. MLP Funds accrue deferred income taxes for future tax liabilities associated with the portion of MLP distributions considered to be a tax-deferred return of capital and for any net operating gains as well as capital appreciation of its investments. This deferred tax liability is reflected in the daily NAV and as a result the MLP Fund’s after-tax performance could differ significantly from the underlying assets even if the pre-tax performance is closely tracked. The potential tax benefits from investing in MLPs depend on them being treated as partnerships for federal income tax purposes.

Financial statements are presented for convenience and information purposes only, and while reasonable efforts have been made to ensure the integrity of such information, they should not be relied on. A copy of the printed financial statements will be provided on request.

Return of Capital: A return, by the Fund, of an investor's monies that is not considered income and therefore is not taxed because its amount does not exceed the original investment.

Yield: Refers to the interest or dividends received from a security and is usually expressed annually as a percentage based on the investment’s cost, its current market value or its face value.

Cash Flow: A measurement of the cash generating capability of a company by adding non-cash charges (e.g. depreciation) and interest expense to pretax income.