Cushing® Asset Management and Swank Capital Announce a Constituent Change to The Cushing® MLP Market Cap Index
Dallas, Texas (February 7, 2020) Cushing® Asset Management, LP, and Swank Capital, LLC, announce an upcoming interim change to the constituents of The Cushing® MLP Market Cap Index (the “Index”). Per the Index’s methodology guide, a constituent change due to a distribution cut will take place on the latter of the distribution ex-date or the last business day of the week that is at least five business days after the day on which the announcement is made. Due to the February 5, 2020, distribution cut announcement by Black Stone Minerals, L.P. (NYSE: BSM), after the market closes on February 14, 2020, (the last business day of the week at least 5 business days after BSM’s announcement) and effective on February 18, 2020, Tellurian Inc. (NASDAQ: TELL) will replace BSM as a constituent of the Index at BSM’s then-current weight.
There will be no changes to the remaining constituents of the Index due to this event.
ABOUT THE CUSHING® MLP MARKET CAP INDEX
The Cushing® MLP Market Cap Index provides a benchmark that is designed to track the performance of widely held midstream energy infrastructure companies, including master limited partnerships (MLPs) and non-MLP midstream corporations (each, a “Midstream Company” and collectively, “Midstream Companies”). The Index is weighted on a float-adjusted market capitalization basis, with the weight of each constituent capped at 7.5% at rebalance. The Index price level is calculated by S&P Dow Jones Indices while the constituents are selected from the entire universe of publicly traded Midstream Companies. The Cushing® MLP Market Cap Index is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker “CMCI”.
Cushing is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The Cushing® 30 MLP Index (Bloomberg Ticker: MLPX) and The Cushing® MLP High Income Index (Bloomberg Ticker: MLPY). For more information, please visit https://www.cushingasset.com/indices.
The Cushing® MLP Market Cap Index (the “Index”) is the exclusive property of Swank Capital, LLC, and Cushing Asset Management, LP, which have contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) (“S&P Dow Jones Indices”) to calculate and maintain the Index. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“SPFS”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and, these trademarks have been licensed to S&P Dow Jones Indices. “Calculated by S&P Dow Jones Indices” and its related stylized mark(s) have been licensed for use by Cushing Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.