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News about my MLP Universe SpreadsheetFor those of you who visit my spreadsheet which resides in the Google cloud, I have added three columns to it, and dropped the column of IPO dates in order to have sufficient horizontal space. I have been considering adding more debt metrics, but after mulling it over I decided the two that I have now, although worthy, are probably pretty much ignored, and adding more would not make things any better. Instead, I opted to include information from some of the Alerian indexes, and from the Kayne Anderson KYN MLP fund, which I have in my wife's account, (whereas I have their KYE Energy Total Return Fund in my account). Have had them both for about 10 years. KYN is an all MLP fund, and it presents an opportunity to compare it to some of the Alerian indexes, both of which should be considered in addition to many other considerations when looking for MLP purchases. I'll try to explain the three columns to you. The first is the 13 top in value of the MLPs in the fund, excluding KMI and a few General Partnerships which are also in the fund, along with a sprinkling of Shipping MLPs, Upstream MLPs, and a few in the Other category. This is an indication of how they are weighting the amount of money apportioned to each of the MLPs. There are 22 other MLPs beyond the top 13, all with much lower allocations, as well as the other categories I mentioned above, which are NOT included in my figures. The next column is the relative weightings of the AMZ index of 50 MLPs which is the de facto industry standard index, i.e. taking their top 13, which range from a weighting of 17.06% for EPD to WES at a 2.16% weighting. All the rest in the index are below 2% weighting, so I stopped the comparison there. So those first two columns can be visually compared to each other. It certainly shows which are the "chosen" by these two sources. The third column is the full 20 constituents of the Alerian Natural Gas MLP Index. Since natural gas is of great importance to us all, I thought it would be interesting to see which constituents related to the top weighted constituents in the other two columns. Make of this what you will, just some food for thought. It certainly does not mean that the ones indicated in the three columns are the only ones that one might wish to evaluate and consider to meet their own needs. I certainly own quite a number that are not included in those with " a number" for my own reasons, as do many of you. There are six Alerian indexes: AMZ - comprising 50 MLPs, the industry de facto standard AMZI - comprising 23 MLPs, the MLP Infrastructure Index ALCI - comprising 15 large cap MLPs, the Large Cap Index ANGI - comprising 20 Natural Gas MLPs AMZE - comprising the constituents of the AMZ, with equal weighting AMEI - comprising 30 energy companies including Canadian infrastructure, MLPs, US Infrastructure, and US MLP Affiliates. If anybody has any comments, thoughts, or suggestions, they are certainly welcome. Grumpy |
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Msg # | Subject | Author | Recs | Date Posted |
48644 | Re: News about my MLP Universe Spreadsheet | Tex7779 | 0 | 4/1/2015 5:16:59 AM |