Since 2003, EIP has employed a time-tested growth and income investment approach focusing on high-payout equity securities in the energy infrastructure sector such as MLPs, Utilities and YieldCos. As of March 31, 2017, the Firm manages approximately $5.9 billion in investments and is one of the largest managers in the energy infrastructure space.
EIP Growth and Income Fund rated five stars overall by Morningstar based on risk adjusted performance among 90 Energy Limited Partnership funds for the 3- and 5-year periods ended 12/31/17
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Finding companies with long-lived fixed assets providing essential services that have monopoly-like competitive advantages
Focused on businesses growing their earnings and dividends with inflation through regulated cost pass-through mechanisms
Seek to limit exposure to commodity prices and variable margin businesses
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The Morningstar RatingTM for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
The EIP Growth and Income fund was rated against the following numbers of U.S.-domiciled Energy Limited Partnership category funds over the following time periods: 90 funds in the last three years, 43 funds in the last five years, and 1 fund in the last 10 years for the period ending 12/31/17. With respect to this category, the Energy Income and Growth fund received a Morningstar Rating of 5-stars for the three- and five-year periods. Past performance is no guarantee of future results.