Tortoise Closed-End Funds

Tortoise
Energy Infrastructure Corp. (NYSE: TYG)


TYG, TYY and TYN Merger

June 23, 2014: TYY and TYN were merged into TYG. TYY and TYN stockholders became stockholders of TYG, and TYY and TYN ceased their separate existence.

For more information, please review the merger closing announcement

Historical TYY and TYN financial reports, distribution and tax information available on TYG respective pages.

 

TYG invests primarily in equity securities of publicly-traded Master Limited Partnerships (MLPs) and their affiliates in the energy infrastructure sector.

TYG is designed to provide:

  • Exposure to midstream MLPs
  • Investment objective seeks high level of total return, emphasizing current distributions
  • One 1099 (no K-1s)
  • No Unrelated Business Taxable Income (UBTI)
  • IRA and tax-exempt suitability
Fund Data (unaudited) As of 11/30/2014 (unless noted)
Total Assets $4,375.6 million   Leverage (as percent of total assets) 21.3%
Market Price1 $44.84   Shares Outstanding 48.02 million
NAV2 $44.06   Management Fee3 0.92%
IPO Date 2/24/2004   Fiscal Year End November 30
IPO Price $25.00   CUSIP 89147L100
Distribution Frequency Quarterly      
  1. Reflects real-time price when available. Quotes are delayed at least 15 minutes. All information provided "as is" for informational purposes only, not intended for trading purposes or advice.

  2. As of 12/12/2014.

  3. Management fees are calculated based on the fund's average monthly total assets (including any assets attributable to leverage but excluding any net deferred tax asset) less the sum of accrued liabilities (other than net deferred tax liability, debt entered into for purposes of leverage and the aggregate liquidation preference of outstanding preferred stock) ("Managed Assets"). TYG pays the Adviser a fee equal to an annual rate of 0.95 percent of the Company’s average monthly Managed Assets up to $2,500,000,000, 0.90 percent of average monthly Managed assets between $2.5 billion and $3.5 billion and 0.85 percent on average monthly Managed Assets above $3.5 billion. Tortoise has contractually agreed to waive all fees due related to the net proceeds received from the issuance of additional common stock under TYG's at-the-money equity program for a six month period following the date of issuance. The rate reflected is the effective management fee rate after applying the above tiered fee schedule.

TYG Details

As of 12/19/2014 (unless noted)

  • Market Price1
  • $44.84
  • NAV2
  • $44.06
  • Premium/Discount
  • 1.8%
  • Distribution Rate3
  • 5.5%
  1. Reflects real-time price when available. Quotes are delayed at least 15 minutes. All information provided "as is" for informational purposes only, not intended for trading purposes or advice.
  2. As of 12/12/2014.
  3. Annualized based on latest distribution received divided by current stock price. A portion of this distribution may be treated as return of capital for income tax purposes, although the ultimate characterization will not be made until after year-end.