Duff & Phelps Select MLP and Midstream Energy Fund Inc.
Duff & Phelps Select MLP and Midstream Energy Fund Inc.
Investment Overview
The Fund's investment objective is to seek a high level of total return resulting from a combination of current tax-deferred distributions and capital appreciation.
Under normal market conditions, the Fund will invest at least 80% of its managed assets in energy master limited partnerships ('MLPs') and midstream energy companies that are not organized as MLPs.
Contact Us
Contact your financial representative for more information.
Email or call for service at 1-866-270-7788
Investment Partner
Duff & Phelps Investment Management Co.
Duff & Phelps Investment Management pursues specialized investment strategies with exceptional depth of resources and expertise. Since its earliest beginnings, providing research and analysis of income producing securities to Depression-era investors, the firm's attention has been set on identifying attractive opportunities through active management and fundamental research, while managing the associated risks. Today, building on a distinguished legacy, Duff & Phelps has earned a reputation as a leader in investing in Global Listed Infrastructure, Global Listed Real Estate, and MLPs & Energy. Quality. Reliability. Specialization. Since 1932.
Learn more about Duff & Phelps Investment Management Co.
Investment Professionals
David D. Grumhaus, Jr.
President and Chief Investment Officer
Industry start date: 1989
Start date as fund Portfolio Manager: 2014
Rodney C. Clayton, CFA
Managing Director, Portfolio Manager, and Senior Research Analyst
Industry start date: 2004
Start date as fund Portfolio Manager: 2020
Performance
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. 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. Returns for periods of one year or less are cumulative returns.
Expenses
Equity Allocation (% Equity)
| Diversified | |
| Gathering/Processing | |
| Petroleum Transportation & Storage | |
| Downstream/Other | |
| Natural Gas Pipelines | |
| Upstream |
Allocations are subject to change daily.
Top Holdings (% Fund)
| Security | |
|---|---|
| Targa Resources Corp | |
| Williams Cos Inc/The | |
| Mplx LP | |
| Enterprise Products Partners LP | |
| Energy Transfer LP | |
| Cheniere Energy Inc | |
| ONEOK Inc | |
| Hess Midstream LP | |
| Plains All American Pipeline LP | |
| Genesis Energy LP |
Holdings are subject to change.
Assets (in millions)
(as of 03/31/2021)| Total Net Assets | $20.26 |
| Total Borrowed Debt | $4.00 |
| Total Managed Assets | $24.26 |
| Total Preferred Assets | $0 |
Effective Leverage
(as of 03/31/2021)| Borrowed Debt | 16.49% |
Assets (in Millions):
Total Net Assets: includes Net Assets Applicable to Common Shareholders
Preferred Assets: consist of the value of: Auction Rate Preferred Shares, and/or Series A Cumulative Preferred Shares, and/or Mandatory Redeemable Preferred Shares.
Total Managed Assets: Total Net Assets + Preferred Assets + Borrowed Debt
Effective Leverage:
Preferred Assets: % consists of Total Preferred assets divided by Total Managed Assets.
Borrowed Debt: % is short term debt + long term debt divided Total Managed Assets
Total Effective Leverage (%) consists of Preferred Assets + Borrowed Debt, as applicable, divided by Total Managed Assets
The Fund currently does not expect to pay a quarterly distribution, due to the decline in the fund’s assets as a result of recent market volatility, until it can maintain a sustainable level of net assets.
Distributions are not guaranteed and are subject to change.
Distributions may be comprised of net investment income, capital gains and/or return of capital. Please refer to Section 19a notices below, if applicable for estimates on the composition of the distribution.
You should not draw any conclusions about the Fund’s investment performance from its distributions. Please view the Fund’s Section 19a notices below, if applicable, which set forth information regarding the estimated composition of the distributions, including any portion that may constitute a return of capital.
The distribution table above is for informational purposes only and should not be used for tax reporting purposes. A Form 1099 DIV (or substitute Form 1099 DIV) will be sent to shareholders at the beginning of each year that will state the federal tax status of distributions received during the previous calendar year. Please consult a tax professional regarding specific tax matters.
Form 8937 Organizational Actions
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.
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.
Disclosures
There can be no assurance that the
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 email or call for service at 1-800-254-5197.
Risk Considerations
Automatic Reinvestment
Holdings
Section 19a Notices
News Releases/Communications
| February 4, 2021 - Duff & Phelps Select MLP and Midstream Energy Fund Announces Board Approval to Seek Merger into Open-End Fund | |
| November 9, 2020 - Duff & Phelps Select MLP and Midstream Energy Fund Inc. Completes Reverse Stock Split | |
| October 26, 2020 - Duff & Phelps Select MLP and Midstream Energy Fund Inc. Announces Reverse Stock Split | |
| July 31, 2020 - Duff & Phelps MLP and Midstream Energy Fund Inc. Will Continue to Defer Quarterly Dividend | |
| July 24, 2020 - Duff & Phelps Select MLP and Midstream Energy Fund Inc. Provides Update on Liquidation Proposal | |
| May 22, 2020 - Annual Meeting Proxy Reminder Letter | |
| May 21, 2020 - Virtus Closed End Funds Announce Results of Joint Annual Meeting & Adjournment of Duff & Phelps Select MLP and Midstream Energy Fund Annual Meeting | |
| May 1, 2020 - Annual Meeting Proxy Reminder Letter | |
| April 24, 2020 - Duff & Phelps Select MLP and Midstream Energy Fund Inc. Receives Continued Listing Standard Notice From NYSE | |
| April 24, 2020 - Annual Meeting Proxy Reminder Letter | |
| April 9, 2020 - Joint Annual Meeting of Shareholders Proxy Statement | |
| March 30, 2020 - Duff & Phelps Select MLP and Midstream Energy Fund Inc. Announces Liquidation and Dissolution Proposal | |
| March 24, 2020 - Duff & Phelps Select MLP and Midstream Energy Fund Inc. To Redeem All Mandatory Redeemable Preferred Shares | |
| March 11, 2020 - Duff & Phelps Select MLP and Midstream Energy Fund Inc. To Redeem Series B Mandatory Redeemable Preferred Shares | |
| February 3, 2020 - Duff & Phelps Select MLP and Midstream Energy Fund Announces Changes to Portfolio Management Team | |
| November 4, 2019 - Virtus Closed End Funds Announce Results of Joint Special Meetings of Shareholders | |
| September 3, 2019 - Special Meeting Proxy Statement | |
| July 3, 2019 - Virtus Closed-End Funds Announce Joint Special Meetings of Shareholders | |
| May 22, 2019 - Virtus Closed-End Funds Announce Results of Joint Annual Meeting of Shareholders | |
| April 16, 2019 - Proxy Statement | |
| September 19, 2018 - Duff & Phelps Select Energy MLP Fund Inc. Announces Amended Investment Policy, Name Change | |
| April 17, 2018 - 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 |