NEW YORK, Oct. 05, 2018 (GLOBE NEWSWIRE) — Center Coast Brookfield MLP & Activity Basement Fund (NYSE: CEN) (the “Fund”) today appear that its Board of Trustees declared its account distributions for October, November and December 2018.
Based on accepted estimates, it is advancing that a allocation of the distributions paid in agenda 2018 will be advised for U.S. federal assets tax purposes as a acknowledgment of capital. The final assurance of the tax cachet of those 2018 distributions will be fabricated in aboriginal 2019 and provided to shareholders on Form 1099-DIV.
Shares purchased on or afterwards the ex-distribution date will not accept the administration discussed above. Please acquaintance your banking adviser with any questions. Distributions may accommodate net advance income, basic assets and/or acknowledgment of capital. Any allocation of the Fund’s distributions that is a acknowledgment of basic does not necessarily reflect the Fund’s advance achievement and should not be abashed with “yield” or “income.” The tax cachet of distributions will be bent at the end of the taxable year.
Brookfield Advance Administration Inc. (the “Firm”) is an SEC-registered advance adviser and represents the Attainable Balance belvedere of Brookfield Asset Management, Inc., accouterment all-around listed absolute assets strategies including absolute acreage equities, basement equities, multi-strategy absolute asset solutions and absolute asset debt. With about $20 billion of assets beneath administration as of June 30, 2018, the Firm manages abstracted accounts, registered funds and adept strategies for institutional and alone clients, including banking institutions, attainable and clandestine alimony plans, allowance companies, endowments and foundations, absolute abundance funds and aerial net account investors. The Firm is a wholly-owned accessory of Brookfield Asset Management, Inc., a arch all-around another asset administrator with over $285 billion of assets beneath administration as of June 30, 2018. For added information, go to www.brookfield.com.
Center Coast Brookfield MLP & Activity Basement Fund is managed by Brookfield Advance Administration Inc. The Fund uses its website as a approach of administration of actual aggregation information. Banking and added actual advice apropos the Fund is commonly acquaint on and attainable at www.brookfield.com.
COMPANY CONTACTCenter Coast Brookfield MLP & Activity Basement Fund
Brookfield Place250 Vesey Street, 15th FloorNew York, NY 10281-1023(855) [email protected]
RisksThe Fund’s investments are concentrated in the activity basement industry with an accent on balance issued by adept bound partnerships (“MLPs”), which may access bulk fluctuation. The bulk of commodity-linked investments such as the MLPs and activity basement companies (including midstream MLPs and activity basement companies) in which the Fund invests are accountable to risks specific to the industry they serve, such as fluctuations in article prices, bargain volumes of accessible accustomed gas or added activity commodities, slowdowns in new architecture and acquisitions, a abiding bargain appeal for awkward oil, accustomed gas and aesthetic petroleum products, burning of the accustomed gas affluence or added commodities, changes in the macroeconomic or authoritative environment, ecology hazards, ascent absorption ante and threats of advance by terrorists on activity assets, anniversary of which could affect the Fund’s profitability.
MLPs are accountable to cogent adjustment and may be abnormally afflicted by changes in the authoritative ambiance including the accident that an MLP could lose its tax cachet as a partnership. If an MLP was answerable to pay federal assets tax on its assets at the accumulated tax rate, the bulk of banknote accessible for administration would be bargain and such distributions accustomed by the Fund would be burdened beneath federal assets tax laws applicative to accumulated assets accustomed (as allotment income, acknowledgment of capital, or basic gain).
In addition, advance in MLPs involves added risks as compared to the risks of advance in accepted stock, including risks accompanying to banknote flow, concoction and voting rights. Such companies may barter beneath frequently than beyond companies due to their abate capitalizations which may aftereffect in aberrant bulk movement or adversity in affairs or selling.
The Fund is a non-diversified, closed-end administration advance company. As a result, the Fund’s allotment may alter to a greater admeasurement than those of a adapted advance company. Shares of closed-end administration advance companies, such as the Fund, frequently barter at a abatement to their net asset value, which may access investors’ accident of loss. The Fund is not a complete advance affairs and you may lose money advance in the Fund.
Because of the Fund’s absorption in MLP investments, the Fund is not acceptable to be advised as a “regulated advance company” beneath the Internal Revenue Code of 1986, as amended. Instead, the Fund will be advised as a approved association for U.S. federal assets tax purposes and, as a result, clashing best advance companies, will be accountable to accumulated assets tax to the admeasurement the Fund recognizes taxable income.
An advance in MLP units involves risks that alter from a agnate advance in disinterestedness securities, such as accepted stock, of a corporation. Holders of MLP units accept the rights about afforded to bound ally in a bound partnership. As compared to accepted shareholders of a corporation, holders of MLP units accept added bound ascendancy and bound rights to vote on affairs affecting the partnership. There are assertive tax risks associated with an advance in MLP units. Additionally, conflicts of absorption may abide amid accepted assemblage holders, subordinated assemblage holders and the accepted accomplice of an MLP.
The Fund currently seeks to enhance the akin of its accepted distributions by utilizing banking advantage through borrowing, including loans from banking institutions, or the arising of bartering cardboard or added forms of debt, through the arising of chief balance such as adopted shares, through about-face repurchase agreements, dollar rolls or agnate affairs or through a aggregate of the foregoing. Banking advantage is a abstract address and investors should agenda that there are appropriate risks and costs associated with banking leverage.
Past achievement is no agreement of approaching results.
Foreside Fund Services, LLC; benefactor and sub-placement agent.
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