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Duff & Phelps Select Energy MLP Fund

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Market Price
(as of )
Managed Assets
(as of )
Net Assets
(as of )
Product Overview

The Fund's investment objective is to seek a high level of total return resulting from a combination of current tax-deferred distributions, growth of distributions, and capital appreciation. The Fund invests at least 80% of its managed assets in select energy Master Limited Partnerships (MLPs) which offer exposure to the ongoing energy renaissance and the reshaping of the U.S. energy economy. MLPs have historically generated attractive risk-adjusted returns, and may provide a potential hedge against inflation and rising interest rates.

Management Team

Investment Partners

Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. offers specialty investment strategies that strive to enhance client outcomes. The product mix, which includes Global Listed Infrastructure, Global Real Estate, MLPs & Energy, and International Equity, was developed from the fundamental company research expertise first established back in 1932. Today the firm continues to stand for Quality, Reliability, and Specialization.

Visit the Duff & Phelps Investment Management Co. website
Portfolio Managers
David Grumhaus
David D. Grumhaus, Jr.

Executive Managing Director, Senior Portfolio Manager

Industry start date: 1989

Start date with fund: 2014

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Charles Georgas
Charles Georgas, CFA

Managing Director, Portfolio Manager

Industry start date: 1988

Start date with fund: 2014

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Performance & Risk

As of
As of
YTD 3 Month 1 Year 3 Years 5 Years 10 Years Since Inception

Performance data quoted represents past results. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown. Investment return and principal value will fluctuate so your shares, when redeemed, may be worth more or less than their original cost.

Performance reflects the deduction of fund operating expenses. Performance does not reflect the incurrence of brokerage expenses, which typically apply to exchange traded products. Total return net of brokerage expenses would be lower than the total returns on market value shown in the table.


Net Asset Value vs. Market Price

Net Asset Value (NAV) represents the total value of all assets held by the Fund (minus its total liabilities), divided by the total number of common shares outstanding. The net asset value returns reflect the performance of the manager. Market price is the price at which investors may purchase or sell shares of the Fund. Market price is determined in the open market by buyers and sellers, based on supply and demand. The Fund’s Market Price fluctuates throughout the day and may differ from its underlying NAV. Shares of the Fund may trade at a premium (higher than) or a discount (lower than) to NAV. This characteristic is a risk separate and distinct from the risk that the Fund’s net asset value could decline. The Fund has no control over the market price. The difference between the market price and the NAV (Premium/Discount) is expressed as a percentage of NAV. Average annual total return is the annual compound return for the indicated period. It reflects the change in share price and the reinvestment of all dividends and capital gains.

Automatic Reinvestment Plan

This plan offers shareholders a convenient way to acquire additional shares of the fund. Registered holders will be automatically placed in the Plan. If shares are held at a brokerage firm, contact your broker about participation.

Fund Distributions and Managed Policy

Under the terms of the Fund’s managed distribution policy, the Fund seeks to maintain a consistent distribution level that may be paid in part or in full from net investment income and realized capital gains, or a combination thereof. Shareholders should note, however, that if the Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund’s assets and will constitute a return of the shareholder’s capital. A return of capital is not taxable; rather it reduces a shareholder’s tax basis in his or her shares of the Fund.

The amounts and sources of distributions reported in Section 19(a) Notices are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of the fiscal year and may be subject to changes based on tax regulations. Please note that the characterization of Fund distributions for federal income tax purposes is different from book accounting generally accepted account principles (“GAAP”). The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Distribution History2
Ex-Date Distribution Reinvest Price Note
11/10/2017 $0.220000 5.196772
08/09/2017 $0.220000 6.061000
05/09/2017 $0.220000 7.080000
02/09/2017 $0.220000 8.111909

You should not necessarily draw any conclusions about the Fund’s investment performance from the amount of this distribution. Contact your financial representative for more information, or  or call Virtus Closed-End Funds for service at 1-866-270-7788.

Form 8937 Organization Actions


There can be no assurance that the fund will achieve its investment objectives.

This information does not represent an offer, or the solicitation of an offer, to buy or sell securities of the Fund.

Contact your financial representative for more information, or or call for service at 1-866-270-7788.

2 Distribution History: Distributions are represented on a cash basis and may be reclassified at year end for tax purposes. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. STCG: Short Term Capital Gain, LTCG: Long Term Capital Gain

Risk Considerations
Equity Securities: The market price of equity securities may be adversely affected by financial market, industry, or issuer-specific events. Focus on a particular style or on small or medium-sized companies may enhance that risk.
MLPs: Investments in Master Limited Partnerships may be adversely impacted by tax law changes, regulation, or factors affecting underlying assets.
Leverage: When a fund leverages its portfolio, the value of its shares may be more volatile and all other risks may be compounded.
Energy Sector Concentration: The fund's investments are concentrated in the energy sector and may present more risks than if the fund were broadly diversified over numerous sectors of the economy.
Market Price/NAV: At the time of purchase and/or sale, an investor's shares may have a market price that is above or below the fund's NAV, which may increase the investor's risk of loss.

Documents & Resources

Fact Sheet
Duff & Phelps Select Energy MLP Fund Fact Sheet
Automatic Reinvestment
Automatic Reinvestment and Cash Purchase Plan
February 1, 2018
November 1, 2017
August 1, 2017
May 1, 2017
Section 19a Notices
February 2018
November 2017
August 2017
May 2017
February 2017
November 2016
August 2016
May 2016
February 2016
News Releases/Communications
June 7, 2017 - Results of Joint Annual Meeting of Shareholders
April 28, 2017 - Proxy Statement
February 8, 2017 - Duff & Phelps Select Energy MLP Fund Inc. Announces Private Placement of $35 Million of Mandatory Redeemable Preferred Shares
September 16, 2016 - Results of Special Meeting of Shareholders
August 8, 2016 - Special Proxy Statement
August 2, 2016 - Five Closed-End Funds Announce Changes to Board Membership
Audit Committee Charter
Nominating Committee Charter
Procedure for Complaints Regarding Accounting, Internal
Financial Materials
Annual Report
Semiannual Report
2017 Tax Information