DALLAS, Dec. 26, 2018 /PRNewswire/ -- Cushing®
Asset Management, LP, and Swank Capital, LLC, announce an upcoming interim change to the constituents of
The Cushing® 30 MLP Index (the "Index"). On October 18, 2018, Index
constituent Valero Energy Partners LP (NYSE: VLP) entered into an Agreement and Plan of Merger ("Merger Agreement") with Valero
Energy Corporation (NYSE: VLO) and various subsidiaries that would result in VLP common units ceasing to be publicly traded,
subject to the approval of the holders of at least a majority of the VLP common units. A subsidiary of VLO that holds a majority
of common units of VLP is expected to furnish its written consent approving the Merger Agreement on or after January 3, 2019. Per the Index's methodology guide, after the market closes on January 2, 2019, and
effective on January 3, 2019, Tallgrass Energy, LP (NYSE: TGE) will replace VLP as a constituent of
the Index at VLP's then-current weight.
There will be no changes to the remaining constituents of the Index due to this event.
ABOUT THE CUSHING® 30 MLP INDEX
The Cushing® 30 MLP Index tracks the performance of 30 publicly traded midstream
energy infrastructure companies, including master limited partnerships (MLPs) and non-MLP energy midstream corporations (each, a
"Midstream Company" and collectively, "Midstream Companies"). Constituents of the Index are selected by using a formula-based
proprietary valuation model developed by Cushing® Asset Management, LP to rank
Midstream Companies for potential inclusion in the Index. The Index price level is calculated by S&P Dow Jones Indices and
reported on a real-time basis under the Bloomberg ticker "MLPX".
ABOUT CUSHING® ASSET MANAGEMENT AND SWANK CAPITAL
Cushing® Asset Management, LP ("Cushing"), a
subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas,
Texas. Cushing serves as investment adviser to affiliated funds and managed accounts
which invest primarily in securities of Midstream Companies and other natural resource companies.
Cushing is also dedicated to serving the needs of MLP and energy income investors by
sponsoring a variety of industry benchmarks, including The Cushing® MLP Market Cap
Index (Bloomberg Ticker: CMCI), The Cushing® MLP High Income Index (Bloomberg Ticker:
MLPY), The Cushing® Energy Index (Bloomberg Ticker: CENI), The Cushing® Energy Supply Chain Index (Bloomberg Ticker: CSCI), The Cushing® Transportation Index (Bloomberg Ticker: CTRI) and The Cushing® Utility Index (Bloomberg Ticker: CUTI). For more information, please visit http://www.cushingasset.com/indices.
Contact:
Judson Redmond
214-692-6334
www.cushingasset.com
The Cushing® 30 MLP Index (the "Index") is the exclusive property of Swank
Capital, LLC, and Cushing Asset Management, LP, which have contracted with S&P Opco, LLC (a subsidiary of S&P Dow
Jones Indices LLC) ("S&P Dow Jones Indices") to calculate and maintain the Index. S&P® is a registered
trademark of Standard & Poor's Financial Services LLC ("SPFS"); Dow Jones® is a registered trademark of Dow Jones
Trademark Holdings LLC ("Dow Jones"); and, these trademarks have been licensed to S&P Dow Jones Indices. "Calculated by
S&P Dow Jones Indices" and its related stylized mark(s) have been licensed for use by Swank Capital, LLC, and Cushing Asset
Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones nor any of their affiliates sponsor and promote the Index and
none shall be liable for any errors or omissions in calculating the Index.
CUSH-MLPX
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SOURCE Cushing Asset Management, LP and Swank Capital, LLC