Salient MLP & Energy Infrastructure Fund, Class A

Frequently Asked Questions About SMAPX

What does SMAPX invest in?

The fund's core objective is to achieve the highest possible total return, encompassing both an increase in capital value and consistent income. It endeavors to meet this goal by dedicating at least 80% of its net assets (inclusive of any borrowed funds for investment) to securities of Master Limited Partnerships (MLPs) and companies operating in the energy infrastructure sector. Specifically, the fund acquires equity instruments such as common, preferred, and subordinated units, general partner interests, and both common and preferred shares from these MLPs and energy infrastructure firms. This particular fund is classified as non-diversified.

What is the expense ratio of SMAPX?

Salient MLP & Energy Infrastructure Fund, Class A (SMAPX) charges an expense ratio of 1.32%. This is the annual fee deducted from fund assets to cover management and operations.

How big is SMAPX?

Salient MLP & Energy Infrastructure Fund, Class A (SMAPX) manages $1.41B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is SMAPX actively managed or an index fund?

SMAPX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

When was SMAPX launched?

Salient MLP & Energy Infrastructure Fund, Class A (SMAPX) launched in November 2012 and is managed by the fund issuer.

How has SMAPX performed?

SMAPX's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.