Tortoise Index Solutions today announced that Columbia Pipeline Group, Inc. (NYSE: CPGX) will be removed from the Tortoise North American Pipeline IndexSM (TNAP) as a result of last week’s announcement that shareholders have approved the merger with TransCanada Corporation (NYSE: TRP). Rebalancing of TNAP constituents will occur after the close of business on June 30, 2016, consistent with the index’s methodology.
About Tortoise Index Solutions
Tortoise Index Solutions, LLC provides research-driven indices that can be used as a realistic basis for exchange-traded products and thought leadership in the universe of essential assets. Its indices are intended to fill a void in the market and provide benchmarks and investible asset class universes for use by investment professionals, research analysts and industry executives to analyze relative performance, as well as to provide a basis for passively managed exchange-traded products. Tortoise Index Solutions, LLC is affiliated with Tortoise Capital Advisors, L.L.C., a registered investment manager specializing in actively managed listed energy investing. As of May 31, 2016, Tortoise Capital Advisors had approximately $14.1 billion of assets under management in listed closed-end funds, mutual funds, private funds and separate accounts. For more information about Tortoise Index Solutions, LLC visit www.tortoiseindexsolutions.com. For more information about Tortoise Capital Advisors, L.L.C., visit www.tortoiseadvisors.com.
About Tortoise North American Pipeline IndexSM
The Tortoise North American Pipeline Index is a float-adjusted, capitalization weighted index of pipeline companies that are organized and have their principal place of business in the United States or Canada. A pipeline company is defined as a company that either 1) has been assigned a standard industrial classification (“SIC”) system code that indicates the company operates in the energy pipeline industry or 2) has at least 50% of its assets, cash flow or revenue associated with the operation or ownership of energy pipelines.
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This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
The indices are the exclusive property of Tortoise Index Solutions, LLC, which has 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 Tortoise MLP Index®, Tortoise North American Pipeline IndexSM and Tortoise North American Oil and Gas Producers IndexSM (each an “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 Tortoise Index Solutions, LLC and its affiliates. 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.
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Pam Kearney, 844-872-1562
Investor and Media Relations