The Cushing MLP Funds

 
 

The Cushing® Total Return Fund (Ticker: SRV) is a publicly traded, non-diversified, closed-end management investment company.  The Fund’s investment objective is to obtain a high after-tax total return from a combination of capital appreciation and current income.  The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets, plus any borrowings for investment purposes, in energy Master Limited Partnerships (MLPs).  The Fund focuses on MLP companies using fundamental and proprietary research to identify the most attractive MLPs with distribution growth prospects which are not fully reflected in current pricing.

The Fund is designed to offer investors the potential for:

*MLPs and MLP investments have unique tax characteristics. In general, an investment in the Fund will not generate unrelated business taxable income (UBTI) for tax-exempt U.S. investors. Neither the Fund nor the investment adviser provide tax advice. Please consult your tax advisor before making an investment.

 

Investors in MLP funds incur management fees from underlying MLP investments. The Fund’s investments will be concentrated in the energy sector. Thus, the Fund may be subject to more risks than if it were more broadly diversified over numerous industries and sectors of the economy. Energy companies may be affected by fluctuations in the prices of commodities, declines in production or supply sources, a sustained decline in demand, environmental liabilities, changes in regulation and other risks.  MLPs are subject certain risks inherent in the structure of MLPs, including complex tax structure risks, the 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.  The potential tax benefits from investing in MLPs depend on them being treated as partnerships for federal income tax purposes. If the MLP is deemed to be a corporation then its income would be subject to federal taxation at the entity level, reducing the amount of cash available for distribution to the Fund which could result in a reduction of the Fund’s value. Shares of the Fund are traded on the NYSE. The prospectus may be obtained in the Download Center or by contacting the Fund at 214-692-6334.

For additional information about Cushing's Closed-End Funds, please contact Cushing Asset Management, LP at 214-692-6334.