Center Coast Brookfield MLP & Energy Infrastructure Fund Announces Portfolio Manager Update
NEW YORK, Oct. 25, 2022 (GLOBE NEWSWIRE) — Brookfield Public Securities Group LLC (“PSG”) has provided an update for Center Coast Brookfield MLP & Energy Infrastructure Fund (NYSE: CEN) (the “Fund”).
Registration and Webcast link:
Shareholders can submit questions about the Fund by emailing [email protected]
A transcript of the update is available by calling 855-777-8001 or emailing the Fund a request at [email protected].
Brookfield Public Securities Group LLC (“PSG”) is an SEC-registered investment adviser representing the public securities platform of Brookfield Asset Management Inc., offering global listed real asset strategies, including real estate equities, infrastructure equities, energy infrastructure equities, real asset solutions strategy and real asset debt. With approximately $22 billion in assets under management as of September 30, 2022, PSG manages segregated accounts, named funds and opportunistic strategies for financial institutions, public and private pension plans, insurance companies, endowments and foundations, sovereign wealth funds and individual investors. PSG is a wholly owned subsidiary of Brookfield Asset Management Inc., one of the world’s leading alternative asset managers with approximately $750 billion in assets under management as of June 30, 2022. For more information, visit at www.brookfield.com.
Center Coast Brookfield MLP & Energy Infrastructure Fund is managed by PSG. The Fund uses its website as a channel for the distribution of important information about the Fund. Financial information and other important information concerning the Fund are regularly published and accessible on https://publicsecurities.brookfield.com/.
Coast Brookfield MLP Center & Energy Infrastructure Fund
250 Vesey Street, 15th floor
New York, NY 10281-1023
Investing involves risk; a principal loss is possible. Past performance is not indicative of future results.
The outbreak of an infectious respiratory disease caused by a new coronavirus known as “COVID-19” is leading to a significant reduction in consumer demand and economic output, disrupting supply chains, leading to store closures. markets, travel restrictions and quarantines, and negatively impacting local and global economies. . As with other severe economic disruptions, government authorities and regulators are responding to this crisis with significant changes in fiscal and monetary policy, including providing direct capital injections into businesses, introducing new monetary programs and significantly lowering interest rates, which in some cases had negative effects. interest rate. Such actions, including their possible unexpected or sudden reversal or their potential ineffectiveness, could further increase volatility in securities and other financial markets, reduce market liquidity, increase investor uncertainty and adversely affect the value of investments. of the Fund and the performance of the Fund. The markets in general and the energy sector in particular, including the Master Limited Partnerships (“MLPs”) and energy infrastructure companies in which the Fund invests, were also negatively affected by the decline in demand petroleum and other energy products due to the slowdown in economic activity. resulting from the spread of COVID-19 and price competition between major oil producing countries. Although some vaccines have been developed and approved for use by various governments, the political, social, economic, commercial and financial risks of COVID-19 could persist for years. These events have had and may continue to have an adverse effect on the net asset value of the Fund and the market price of the common shares of the Fund.
The Fund’s investments are concentrated in the energy infrastructure sector, with an emphasis on securities issued by MLPs, which may increase price fluctuation. The value of commodity-related investments such as MLPs and energy infrastructure companies (including midstream MLPs and energy infrastructure companies) in which the Fund invests is subject to industry-specific risks that they serve, such as fluctuations in commodity prices, reduced availability volumes of natural gas or other energy products, slowdown in new construction and acquisitions, sustained decline in demand for crude oil, natural gas and refined petroleum products, depletion of reserves of natural gas or other commodities, changes in the macroeconomic or regulatory environment, environmental risks, rising interest rates and threats of terrorist attacks on energy assets, each of which may affect the profitability of the Fund.
MLPs are subject to significant regulation and may be adversely affected by changes in the regulatory environment, including the risk that an MLP will lose its partnership tax status. If an MLP were required to pay federal tax on its income at the corporate tax rate, the amount of cash available for distribution would be reduced and such distributions received by the Fund would be taxed under federal tax laws. income tax applicable to corporate dividends received (in the form of dividend income, return of capital or capital gain).
In addition, investing in MLPs involves additional risks compared to the risks of investing in common stock, including cash flow, dilution and voting rights risks. These companies may trade less frequently than larger companies due to their smaller capitalization, which can cause prices to fluctuate erratically or have difficulty buying or selling.
The Fund is a non-diversified closed-end investment company. As a result, the Fund’s returns may fluctuate more than those of a diversified investment company. Shares of closed-end investment companies, such as the Fund, frequently trade at a discount to their net asset value, which may increase investors’ risk of loss. The Fund is not a complete investment program and you may lose money investing in the Fund.
Due to the Fund’s concentration in MLP investments, the Fund is not eligible to be treated as a “regulated investment company” under the Internal Revenue Code of 1986, as amended. Instead, the Fund will be treated as an ordinary corporation, or “C” corporation, for US federal income tax purposes and therefore, unlike most investment companies, will be subject to corporate income tax to the extent that the Fund recognizes taxable income. .
An investment in MLP Units involves risks that differ from a similar investment in equity securities, such as common stock, of a company. Unitholders of MLP have the rights generally granted to limited partners of a limited partnership. Compared to common stockholders of a corporation, holders of MLP units have more limited control and voting rights on matters affecting the partnership. Certain tax risks are associated with an investment in Units of MLP. In addition, conflicts of interest may exist between ordinary unitholders, subordinated unitholders and the general partner of an MLP.
The Fund is currently seeking to enhance the level of its current distributions by utilizing financial leverage through borrowings, including loans from financial institutions, or issuing commercial paper or other forms of debt. , through the issuance of senior securities such as preferred shares, through repurchase agreements, dollar rolls or similar transactions or through a combination of the foregoing. Leverage is a speculative technique and investors should note that there are particular risks and costs associated with leverage.
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