Swank Capital and Cushing® Asset Management Announce a Potential Constituent Change to The Cushing® MLP Market Cap Index

DALLAS, Nov. 24, 2015 /PRNewswire/ -- Swank Capital, LLC and Cushing^® Asset Management, LP announce a potential interim change and special rebalancing of The Cushing^® MLP Market Cap Index (the "Index"). Index constituent MarkWest Energy Partners, L.P. (NYSE: MWE) previously entered into an Agreement and Plan of Merger with MPLX LP (NYSE: MPLX) wherein MWE would be acquired by MPLX, subject to the approval of MWE unitholders. A special meeting of the unitholders of MWE is scheduled for December 1, 2015, at 9:00 AM Mountain Standard Time for the purpose of considering and voting on the proposed acquisition.

Should the acquisition be approved, MWE will be removed from the Index and replaced with Spectra Energy Partners, LP (NYSE: SEP) after the markets close on December 1, 2015. Additionally, because MWE is an incumbent constituent with a weighting exceeding 3.5%, all constituent weightings will be adjusted as shown below. The changes will be effective on December 2, 2015.

If the acquisition is not approved, there will be no change to the constituents of the Index or to Index constituent weightings.

Cushing^® MLP Market Cap Index constituents (effective December 2, 2015, if acquisition approved by MWE unitholders on December 1, 2015):

Constituent removed (effective December 2, 2015, if acquisition approved by MWE unitholders on December 1, 2015):

ABOUT THE CUSHING^® MLP MARKET CAP INDEX

The Cushing^® MLP Market Cap Index provides a benchmark that is designed to track the performance of widely held master limited partnerships (MLPs).  The Index is weighted on a float-adjusted market capitalization basis, with the weight of each constituent capped at 7.5% at rebalance. The Index price level is calculated by S&P Dow Jones Indices while the constituents are selected from the entire universe of publicly traded MLPs.  The Cushing^® MLP Market Cap Index is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "CMCI".

ABOUT SWANK CAPITAL AND CUSHING^® ASSET MANAGEMENT

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 MLPs 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^® 30 MLP Index (Bloomberg Ticker:  MLPX), The Cushing^® MLP High Income Index (Bloomberg Ticker:  MLPY) and The Cushing^® Upstream Energy Income Index (Bloomberg Ticker:  CRTY).  For more information, please visit www.swankcapital.com/the-cushing-indices. 

The Cushing® MLP Market Cap Index (the "Index") is the exclusive property of Cushing Asset Management, LP, 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 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 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-CMCI

SOURCE Swank Capital, LLC

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