NEW YORK, Oct. 20, 2021 (GLOBE NEWSWIRE) – Coast Brookfield Center MLP & Energy Infrastructure Fund (NYSE: CEN) (the âFundâ) today announced changes to the portfolio management team of Brookfield Public Securities Group LLC (âBrookfieldâ), the investment adviser of the Fund.
The Fund also announced the next quarterly webcast.
Changes to the portfolio management team
MM. Robert T. Chisholm, Jeff Jorgensen, Boran Buturovic and Joe Herman will be joined by Mr. Tom Miller, CFA, as co-portfolio manager of the Fund, effective immediately. Each will share the primary responsibility for overseeing the day-to-day management of the Fund. In effect by the end of 1st quarter of 2022, MM. Chisholm and Jorgensen will be leaving Brookfield and will no longer be co-portfolio managers of the Fund.
The following provides information on Mr. Miller’s professional experience.
Tom Miller – Managing Director, Portfolio Manager, Infrastructure Securities
Tom Miller, CFA, has 12 years of industry experience and is a Managing Director and Portfolio Manager in the Infrastructure Securities team at Brookfield. In this role, he oversees and contributes to the portfolio construction process, including the execution of buy / sell decisions. Prior to focusing on his role as a portfolio manager, he was responsible for hedging North American infrastructure securities with a focus on MLPs and the energy infrastructure sector. Before joining the firm in 2013, he worked at FactSet. Tom holds the Chartered Financial Analyst designationÂ® designation and earned a Bachelor of Science degree from Indiana University.
The Fund will host its quarterly webcast on Tuesday, November 2, 2021 at 2 p.m. ET. The Fund’s investment team will provide an update on the Fund and general market conditions.
It will be possible to ask questions about the Fund during the call. Questions can also be submitted prior to the call by emailing [email protected]
Registration and webcast link:
Audio call: 866-548-4713 or +1 323-794-2093
Event code: 5700849
A replay will be available via this link shortly after the webcast. A transcript of the call will also be available by dialing 855-777-8001 or by sending an email request to the Fund at [email protected]
About Brookfield Public Securities Group LLC
Brookfield Public Securities Group LLC (âPSGâ) is an SEC registered investment adviser representing the public securities platform of Brookfield Asset Management Inc., providing global strategies for listed real assets, including real estate stocks. , infrastructure stocks, energy infrastructure stocks, real asset solutions strategy and real asset debt. With more than $ 20 billion in assets under management as of September 30, 2021, PSG manages separate accounts, registered funds and opportunistic strategies for financial institutions, public and private pension plans, insurance companies, endowments and foundations, sovereign wealth funds and individual investors. PSG is a wholly owned subsidiary of Brookfield Asset Management Inc., one of the world’s leading alternative asset managers with more than $ 625 billion in assets under management as of June 30, 2021. For more information, visit you on https://publicsecurities.brookfield.com/.
Center Coast Brookfield MLP & Energy Infrastructure Fund is managed by PSG. The Fund uses its website as a channel for distributing material information about the Fund. Financial information and other important information concerning the Fund are regularly published and accessible on https://publicsecurities.brookfield.com/.
Coast Brookfield MLP Center & Energy Infrastructure Fund
250, rue Vesey, 15th floor
New York, New York 10281-1023
Investors should carefully consider the investment objective, risks, charges and expenses of the Fund before investing. This document is not an offer to sell securities or the solicitation of an offer to buy securities, nor will there be any sale or offer of such securities, in any jurisdiction where such sale or offer is not permitted.
Investing involves risks; main loss is possible. Past performance is no guarantee of future results.
The outbreak of infectious respiratory disease caused by a novel coronavirus known as “COVID-19” results in a substantial reduction in consumer demand and economic output, disrupting supply chains, leading to shutdowns of markets, travel restrictions and quarantines, and negatively impacting local and global economies. As with other serious economic disruptions, government authorities and regulators are responding to this crisis with significant fiscal and monetary policy changes, including providing direct capital injections into businesses, introducing new monetary programs, and drastically lowering interest rates, which in some cases resulted in higher interest rates. These actions, including their possible unexpected or sudden reversal or potential ineffectiveness, could further increase volatility in securities and other financial markets, reduce market liquidity, increase investor uncertainty and negatively affect the value of investments. of the Fund and the performance of the Fund. Markets in general and the energy sector in particular, including the Master Limited Partnerships (“MLPs”) and energy infrastructure companies in which the Fund invests, have also been affected by the decline in demand for oil and other energy commodities due to the slowdown in economic activity. resulting from the spread of COVID-19 and price competition among major oil-producing countries. Although some vaccines have been developed and approved for use by various governments, the political, social, economic, market and financial risks of COVID-19 could persist for years. These developments have and may continue to have an adverse effect on the net asset value of the Fund and the price of the common shares of the Fund.
The Fund’s investments are concentrated in the energy infrastructure sector, with an emphasis on securities issued by MLPs, which may increase price fluctuations. The value of commodity-related investments such as MLPs and energy infrastructure companies (including intermediate MLPs and energy infrastructure companies) in which the Fund invests is subject to industry specific risks that they serve, such as fluctuations in commodity prices, reduced volumes of availability of natural gas or other energy commodities, slowdown in new construction and acquisitions, sustained decline in demand for crude oil, natural gas and of refined petroleum products, depletion of reserves of natural gas or other raw materials, changes in the macroeconomic or regulatory environment, environmental risks, rising interest rates and threats of terrorist attacks on energy assets, each that may affect the profitability of the Fund.
MLPs are subject to significant regulation and can be adversely affected by changes in the regulatory environment, including the risk that an MLP will lose its tax status as a partnership. If an MLP were required to pay federal tax on its income at the corporate tax rate, the amount of cash available for distribution would be reduced and such distributions received by the Fund would be taxed under federal dividend tax laws. companies received (as dividend income, return of capital or capital gain).
In addition, investing in MLPs involves additional risks compared to the risks of investing in common stocks, including risks related to cash flow, dilution and voting rights. These companies may trade less frequently than larger companies due to their smaller capitalization, which can lead to erratic price movements or difficulty buying or selling.
The Fund is an undiversified closed-end investment company. As a result, the returns of the Fund may fluctuate more than those of a diversified investment company. Shares of closed-end investment companies, such as the Fund, frequently trade for less than their net asset value, which can increase investors’ risk of loss. The Fund is not a complete investment program and you could lose money by investing in the Fund.
Due to the Fund’s concentration in MLP investments, the Fund is not eligible to be treated as a âregulated investment companyâ under the Internal Revenue Code of 1986, as amended. Instead, the Fund will be treated as an ordinary corporation, or a âCâ corporation, for US federal income tax purposes and, therefore, unlike most investment companies, it will be subject to corporate income tax insofar as the Fund recognizes taxable income. .
An investment in units of MLP involves risks that differ from a similar investment in equity securities, such as common stocks, of a company. MLP unitholders have the rights generally granted to limited partners of a limited partnership. Compared to common shareholders of a company, unitholders of MLP have more limited control and limited voting rights on matters affecting the partnership. There are certain tax risks associated with an investment in MLP Units. In addition, conflicts of interest may exist between common unitholders, subordinated unitholders and the general partner of an MLP.
The Fund is currently seeking to increase the level of its current distributions by using leverage through borrowings, including loans from financial institutions, or the issuance of commercial paper or other forms of debt, by the issuance of senior securities such as preferred stock, by way of repurchase agreements, rolls of dollars or similar transactions or by a combination of the foregoing. Financial leverage is a speculative technique and investors should note that there are particular risks and costs associated with financial leverage.
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