Master Limited Partnerships - Insight Series No. 1, January 2020

Solving the Frustrations of Investing in MLPs.

Master Limited Partnerships (MLPs) can be compelling investments, but investors in these securities face a daunting array of challenges, including complex tax reporting, unrelated business taxable income, under-exposure to the asset class, double taxation, and single-issuer principal counter-party credit risk. Direct investment in MLPs or in various MLP investment vehicles may solve one or more of these issues, but each comes with its own drawback or limitation.