Miller/Howard Investments Inc., a boutique asset management firm with
$8.3 billion of assets under management, announced today the launch of
the Miller/Howard Strategic Dividend Index (Bloomberg ticker: MHDT), an
equal weighted alternative to cap-weighted indexes. Lowell G. Miller,
founder and CIO of Miller/Howard, and representatives of licensee bank
Citi celebrated the inauguration of C-Tracks ETN Miller/Howard Strategic
Dividend Reinvestor (ticker: DIVC) in the Opening Bell ceremony at the
New York Stock Exchange Tuesday, Sept. 16, 2014.
The ETN is linked to the performance of the Miller/Howard Strategic
Dividend Index, a composite of 30 publicly traded equities that offer
above-average dividend yields and dividend growth, and are equal
weighted based on certain quantitative fundamental factors. The Index
seeks to capture and distill the firm’s decades-long experience of
investing in dividend-focused portfolios. It is a rules-based index
created to go beyond market exposure by applying strong, persistent
factors that we have observed over time and validated through active
management. The Index accounts for the payment of cash dividends (both
ordinary and special) by the constituent stocks by notionally investing
the amount of payments into the Index.
“In our view, cap-weighted indexes, by their all-encompassing nature,
hold the good, the bad, and the ugly stocks. This Index is designed to
retain the ‘good,’” Miller said. “Whereas traditional market
cap-weighted indexes tend to overweight overvalued stocks, we try to
improve on the model by equal weighting and limiting selection to
companies that share positive factors such as dividend growth, yield,
valuation, and profitability—all through a disciplined rules-based
process with regular rebalancing.”
The Index is the latest offering from Miller/Howard Strategic Indexes, a
wholly owned subsidiary of Miller/Howard Investments. Its first Index,
Miller/Howard MLP Fundamental Index (Bloomberg tickers: MLPMP for price
return; MLPMH for total return), was launched in September 2013. It is
licensed to Citi’s C-Tracks Exchange-Traded Notes, which trade on the
NYSE under the ticker MLPC.
For additional information see: http://mhindexes.com
About Miller/Howard
Miller/Howard Investments, Inc. is an independent, SEC registered
investment boutique with more than two decades experience managing
equity portfolios for institutions and individuals in disciplined,
dividend-focused investment strategies. Portfolios invest in financially
strong companies across the broad market with the ability to pay and
consistently raise dividends. Firm portfolio strategies include:
income-equity broad market stocks, master limited partnerships (MLPs),
utilities, infrastructure, and components of the energy commercial value
chain. As of June 30, 2014, the firm managed $8.3 billion in assets.
Any interest in investing in the C-Tracks Exchange Trade Note should be
made via Citigroup Inc., a registered broker-dealer and member of FINRA
and SIPC. This communication is for informational purposes only, and
does not constitute an offering of any security, product, or service.
All securities for Miller/Howard are placed through Tangent Capital
Partners, LLC, a registered broker-dealer and member of FINRA and SIPC.
Copyright Business Wire 2014