The portfolio seeks to provide current income and the potential for capital appreciation.
The portfolio seeks to achieve its objective by investing in a portfolio of common stocks of master limited partnerships ("MLPs") and closed-end Investment companies ("closed-end funds") that invest in common stocks of MLPs or similar energy and energy-infrastructure companies.
||Nov 12, 2013
|Scheduled Primary Offering Period
||Nov 12, 2013 - Feb 10, 2014
|Term of Trust
||Nov 10, 2015
Regulated Investment Company
|Public Offering Price
(End of deposit date)
|Maximum Sales Charge
|Sales Charge Schedule
|Sales Charge Volume Discount
|Est. Net Annual Income1
|Initial Payable Date2
||Dec 25, 2013
|Initial Record Date2
||Dec 10, 2013
||Reinvest, Cash, Wrap Reinvest, Wrap Cash
|Estimated Frequency of Offering
Investors in fee-based accounts will not be assessed the initial or deferred sales charges for
eligible fee-based purchases and must purchase units with a Wrap Fee CUSIP.
There is no assurance that a unit investment trust will achieve its investment objective. An investment in this unit investment trust is subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of trust units may therefore be less than what you paid for them. This trust is unmanaged. Accordingly, you can lose money investing in this trust.
A security issuer may be unwilling or unable to make interest and/or principal payments or declare dividends in the future, or may reduce the level of dividends declared. This may reduce the level of dividends certain of the Portfolio’s securities pay which would reduce your income and may cause the value of your Units to fall.
The financial condition of a security issuer may worsen or its credit ratings may drop, resulting in a reduction in the value of your Units. This may occur at any point in time, including during the initial offering period.
The portfolio and each of the closed-end funds in the portfolio invest in MLPs. Most MLPs operate in the energy sector and are subject to the risks generally applicable to companies in that sector, including commodity pricing risk, supply and demand risk, depletion risk and exploration risk. MLPs are also subject the risk that regulatory or legislative changes could eliminate the tax benefits enjoyed by MLPs which could have a negative impact on the after-tax income available for distribution by the MLPs and/or the value of the portfolio’s investments.
The portfolio invests in shares of closed-end funds. You should understand the section titled “Closed-End Funds” before you invest. In particular, shares of closed-end funds tend to trade at a discount from their net asset value and are subject to risks related to factors such as management’s ability to achieve a fund’s objective, market conditions affecting a fund’s investments and use of leverage. The portfolio and the underlying funds have management and operating expenses. You will bear not only your share of the portfolio’s expenses, but also the expenses of the underlying funds. By investing in other funds, the portfolio incurs greater expenses than you would incur if you invested directly in the funds.
The portfolio is concentrated in securities issued by companies in the energy sector. Negative developments in this sector will affect the value of your investment more than would be the case in a
more diversified investment.
We do not actively manage the portfolio. Except in limited circumstances, the portfolio will hold, and may continue to buy, shares of the same securities even if their market value declines.