Swank Capital and Cushing® Asset Management Announce a Special Rebalance of The Cushing® Upstream Energy Income Index

DALLAS, July 13, 2016 /PRNewswire/ -- Swank Capital, LLC and Cushing^® Asset Management, LP announce today a special rebalance of The Cushing^® Upstream Energy Income Index (the "Index"). Per the Index's methodology guide, a constituent will be removed immediately upon being delisted from its primary market. The New York Stock Exchange ("NYSE") announced on July 12, 2016, that its staff has determined to commence proceedings to delist the common units of Atlas Resource Partners, L.P. ("ARP") from the NYSE. Due to the delisting announcement, ARP will be removed from the Index after the markets close on July 13, 2016.

Ordinarily, a constituent removed from the Index due to a delisting would be replaced by an eligible royalty trust or upstream MLP that is not already a constituent of the Index; however, per the Index's constituent criteria, there will be no eligible replacement royalty trust or upstream MLP at the time of ARP's removal from the Index. The absence of any eligible royalty trust or upstream MLP to replace ARP will result in a reduction in the number of constituents in the Index, necessitating a rebalancing of the Index. After the markets close on July 13, 2016, the Index will be rebalanced, and the following changes will become effective on July 14, 2016.

ABOUT THE CUSHING^® UPSTREAM ENERGY INCOME INDEX

The Index is designed to track the performance of publicly traded U.S. royalty trusts and upstream exploration and production ("Upstream") energy master limited partnerships ("MLPs"). The Index is currently comprised of U.S. royalty trusts and Upstream MLPs, 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 U.S. royalty trusts and Upstream MLPs. The Index is quoted under the Bloomberg ticker "CRTY" as well as on a total-return basis, using end of day pricing, under the ticker "CRTYTR". For more information about the Index, please visit: www.cushingasset.com/indices. 

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^® MLP Market Cap Index (Bloomberg Ticker: CMCI), The Cushing^® MLP High Income Index (Bloomberg Ticker:  MLPY) and The Cushing^® 30 MLP Index (Bloomberg Ticker:  MLPX). For more information, please visit www.cushingasset.com/indices. 

The Cushing^® Upstream Energy 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-CRTY

SOURCE Cushing® Asset Management, LP and Swank Capital, LLC