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Morningstar, Inc. Commentaries

CEF Weekly Update: 2 New MLP Funds

Apr 1, 2014
Click here to access CEF Weekly Update: 2 New MLP Funds

Two MLP Funds Launch

After nearly three months of no closed-end fund IPOs in 2014, we saw two new master limited partnership CEFs launch last week: First Trust New Opportunities MLP & Energy (FPL) raised $440 million, and Nuveen All Cap Energy MLP Opportunities(JMLP) raised $255 million. Assuming the full exercise of underwriters' overallotment options, the proceeds could raise to $530 million and $293 million, respectively. Despite the roughly four-month dry spell in CEF launches, MLP funds are still fairly hot. Five of the last 10 CEFs launched focus on MLP investing.

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