Salient Midstream & MLP Fund Common (SMM)

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27.39 +0.21  +0.77% NYSE Nov 21, 8:00PM BATS Real time Currency in USD
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SMM Description

Salient Midstream & MLP Fund Common is a long only equity fund managed by Salient Capital Advisors, LLC and has 529.80M USD assets under management. It has an expected distribution yield of 5.20%, a Forecasted PE Ratio of 22.77, and a Forecasted Price to Book Value of 1.932. The fund has a net expense ratio of 5.14%, turns over its positions 74.87% per year, and is traded on the New York Stock Exchange.

SMM Key Info

Expense Ratio (11-30-13) 5.14%
Assets Under Management (11-21-14) 529.80M
30-Day Average Volume (11-21-14) 68969.23
Net Asset Value (11-21-14) 29.90
Discount or Premium to NAV (11-21-14) -8.39%
Turnover Ratio (11-30-13) 74.87%

SMM Asset Allocation

Type % Net % Long % Short
Cash 9.61% 9.61% 0.00%
Stock 90.39% 90.39% 0.00%
Bond 0.00% 0.00% 0.00%
Convertible 0.00% 0.00% 0.00%
Preferred 0.00% 0.00% 0.00%
Other 0.00% 0.00% 0.00%
As of Feb. 28, 2013

SMM Region Exposure

Americas 97.97%
North America 97.97%
Latin America 0.00%
Greater Europe 2.03%
United Kingdom 2.03%
Europe Developed 0.00%
Europe Emerging 0.00%
Africa/Middle East 0.00%
Greater Asia 0.00%
Japan 0.00%
Australasia 0.00%
Asia Developed 0.00%
Asia Emerging 0.00%
Market Classification
% Developed Markets 100.0%
% Emerging Markets 0.00%
As of Feb. 28, 2013
Region breakdown data is calculated by using the long position holdings of the portfolio.

SMM Stock Sector Exposure

Basic Materials 2.47%
Communication Services 0.00%
Consumer Cyclical 0.00%
Consumer Defensive 0.00%
Energy 86.62%
Financial Services 0.00%
Healthcare 0.00%
Industrials 6.99%
Real Estate 0.00%
Technology 0.00%
Utilities 3.92%
As of Feb. 28, 2013

SMM Stock Market Capitalization

Giant 0.00%
Large 26.10%
Medium 20.44%
Small 20.80%
Micro 5.38%
As of Feb. 28, 2013
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SMM Top 10 Holdings

Name % Weight Price Chg %
Salient Smm Corp Fund 15.97% -- --
Enterprise Products Partners LP 7.14% 39.54 +1.13%
Plains All American Pipeline LP 5.91% 54.33 -0.09%
Williams Companies Inc 5.54% 55.48 +0.04%
Kinder Morgan Management LLC 5.11% 98.33 -0.67%
Kinder Morgan, Inc. 4.05% 39.75 -0.43%
LinnCo LLC 3.79% 21.50 +0.28%
Enbridge Energy Management LLC 3.65% 37.99 +0.24%
Teekay Offshore Partners L.P. 3.61% 26.67 -0.49%
Crosstex Energy, Inc. 3.57% 38.00 +1.17%
As of Feb. 28, 2013
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SMM Basic Info

Style
Asset Class Sector Equity
Prospectus Objective Specialty - Natural Resources
Fund Owner Firm Name Salient Capital Advisors, LLC
Key Dates
Inception Date 5/25/2012
Last Annual Report Date 11/30/2013
Last Prospectus Date 2/21/2013
Attributes
Exchange Traded Share No
Exchange Traded Note No
Enhanced Index Fund No
Index Fund No
Inverse Fund No
Leveraged Fund No
Fund of Funds No
Currency Hedged Fund No
Synthetic Replication Fund No
Has Dividend Investment Plan Yes
General Availability
Available for Insurance Product No
Available for Retirement Plan No
Available RRSP No

SMM Manager Info

Name Tenure
Frank Gardner, III 2.44 yrs
Gregory Reid 2.44 yrs

SMM Risk Info

Beta --
30 Day Average Volatility 27.48%

SMM Fundamentals

Dividend Yield TTM (11-21-14) 5.20%
Weighted Average PE Ratio 25.83
Weighted Average Price to Sales Ratio 1.158
Weighted Average Price to Book Ratio 2.057
Weighted Median ROE 14.19%
Weighted Median ROA 4.51%
Forecasted Dividend Yield 4.41%
Forecasted PE Ratio 22.77
Forecasted Price to Sales Ratio 1.263
Forecasted Price to Book Ratio 1.932
Number of Holdings 30.00
As of Feb. 28, 2013

SMM Growth Estimates

Forecasted 5 Yr Earnings Growth 9.22%
Forecasted Book Value Growth 6.05%
Forecasted Cash Flow Growth -17.02%
Forecasted Earnings Growth 7.53%
Forecasted Revenue Growth -12.03%
As of Feb. 28, 2013

SMM Performance

  Returns Total Returns
1M 5.59% 7.06%
3M -8.49% -7.22%
6M 3.99% 6.73%
1Y 22.66% 29.44%
3Y -- --
5Y -- --
As of Nov. 21, 2014

SMM Flows

1M 0.00
3M -3.166M
6M -6.238M
YTD -9.181M
1Y -12.19M
3Y --
5Y --
As of Oct. 31, 2014
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