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[sludgehound]

Cleveland Fed CPI & Brent

11am ET UNITED STATES JUL CLEVELAND FED CPI DECREASE TO +0.2 % VS PREV 0.3 %

Brent off $1 on surprise build. GS slips <$200. DJI falling fast, DAX was off 2%. Seeking hidey house!
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1 graph at short article.
http://finance.yahoo.com/news/goldman-sachs-mlp-fund-ger-150658979.html
Goldman Sachs’s MLP Fund, GER, Outperformed Energy ETFs Last Week
Market Realist By Ruth King
12 minutes ago
August 14 Weekly Performance Update on Top Energy MLP Securities

Goldman Sachs MLP and Energy Renaissance Fund
The Goldman Sachs MLP and Energy Renaissance Fund (GER), a closed-end mutual fund, rose 10.1% in the week ended August 14. The broad-market SPDR S&P 500 ETF Trust (SPY) rose 0.7% and the Energy Select Sector SPDR ETF (XLE) rose 3.4% during the week. The Kayne Anderson MLP Investment Company (KYN) rose 5.9% in the week. The Alerian MLP Index (AMZ) rose 5.2%.


The Goldman Sachs MLP and Energy Renaissance Fund invests at least 80% of its assets in MLPs and energy investments. The fund currently focuses on midstream MLPs but has plans to invest in upstream and downstream companies. GER may invest up to 20% of its managed assets in domestic and global equity, bonds, and derivatives that aren’t MLPs or other energy investments.

GER has net assets of $877 million. It uses leverage. Of its total managed assets, 29% are borrowed funds. GER charges a 1% management fee on managed assets.

The above graph compares GER’s weekly returns with those of the JPMorgan Alerian MLP Index ETN (AMJ), SPY, and XLE. All of these returns include dividends.

Top holdings
Energy Transfer Partners (ETP), NuStar Energy (NS), Targa Resources Partners (NGLS), Crescent Point Energy (CPG), and Teekay Offshore Partners (TOO) are GER’s top five holdings. Together, these five MLPs form ~45% of GER.

These are GER portfolio’s top sectors:

liquid pipelines and terminals
natural gas and NGL infrastructure
diversified midstream
These sectors represent 24%, 22%, and 21% of the portfolio, respectively. To learn more about energy MLP ETFs, ETNs, and funds, visit Market Realist’s Energy MLP page.