Salient Midstream & MLP (SMM)

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18.42 -0.13  -0.70% NYSE Jul 31, 20:00 Delayed 2m USD
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SMM Description

Salient Midstream & MLP is a long only equity fund managed by Salient Capital Advisors, LLC and has 389.18M USD assets under management. It has an forecasted dividend yield of 4.41%, 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 2.44%, turns over its positions 46.39% per year, and is traded on the New York Stock Exchange.

SMM Key Info

Expense Ratio (11-30-14) 2.44%
Assets Under Management (7-31-15) 389.18M
30-Day Average Volume (7-31-15) 87388.57
Net Asset Value (7-31-15) 21.96
Discount or Premium to NAV (7-31-15) -16.12%
Turnover Ratio (11-30-14) 46.39%

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

Symbol Name % Weight Price % Chg
-- Salient Smm Corp Fund 15.97% -- --
EPD Enterprise Products Partners LP 7.14% 28.33 -2.04%
PAA Plains All American Pipeline LP 5.91% 41.75 -0.17%
WMB Williams Companies Inc 5.54% 52.48 -0.94%
KMR Kinder Morgan Management LLC 5.11% -- --
KMI Kinder Morgan, Inc. 4.05% 34.64 -1.11%
LNCO LinnCo LLC 3.79% 3.90 -11.56%
EEQ Enbridge Energy Management LLC 3.65% 31.70 -0.60%
TOO Teekay Offshore Partners L.P. 3.61% 17.29 +2.49%
ENLC Crosstex Energy, Inc. 3.57% 26.95 -0.88%
As of Feb. 28, 2013
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SMM Basic Info

Style
Equity Style Mid Cap/Blend
Broad Asset Class Sector Equity
Broad Category Equity
Prospectus Objective Specialty - Natural Resources
Fund Owner Firm Name Salient Capital Advisors, LLC

SMM Manager Info

Name Tenure
Frank Gardner, III 2.85 yrs
Gregory Reid 2.85 yrs

SMM Risk Info

Beta 1.394
Max Drawdown (All) 35.69%
Historical Sharpe (10y) --
Historical Sortino (All) 0.8571
30-Day Rolling Volatility 23.66%
Daily Value at Risk (VaR) 1% (All) 4.03%
Monthly Value at Risk (VaR) 1% (All) 15.41%

SMM Fundamentals

Dividend Yield TTM (7-31-15) 8.97%
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 35
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 -8.68% -8.68%
3M -20.74% -19.45%
6M -14.56% -11.77%
1Y -33.76% -29.18%
3Y -9.26% 9.35%
5Y -- --
As of July 31, 2015

SMM Net Flows

1M 0.001
3M -5.696M
6M -14.63M
YTD -14.63M
1Y -14.94M
3Y -27.65M
5Y --
As of June 30, 2015

SMM Attributes

Key Dates
Inception Date 5/25/2012
Last Annual Report Date 11/30/2014
Last Prospectus Date 12/31/2013
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 for RRSP No
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