Tortoise in Forbes

The Most Beloved Mutual Funds Of Successful Investment Advisers

By Ky Trang Ho
Investors have some 9,200 mutual funds and 1,400 exchange-traded funds to choose from in the U.S.  – the most in the entire world. They dwarf the 5,240 stocks listed on the U.S. stock market a la the NASDAQ and New York Stock Exchange, according to the World Federation of Exchanges. To help you narrow the options and invest like a boss,  I asked an array of successful investment advisers to share their most beloved mutual funds.

6. Tortoise MLP & Pipeline Fund (TORIX)
Tortoise has been investing in the midstream energy infrastructure sector for over a decade and has an experienced and competent investment team. TORIX invests primarily in master limited partnerships and pipeline companies that own and operate asset systems that transport, store, distribute, gather and process crude oil, refined products, natural gas, and natural gas liquids.
These businesses generate revenues that are primarily fee-based and under longer-term contracts. The stability and longer-term nature of the cash flows generated by these midstream assets parallels Tortoise’s investment style.
How they say they are going to invest in the fund is what you get, with no surprises. The fund does not invest in energy companies with greater cyclicality of cash flows dependent on which direction oil or natural gas prices are moving. This is important for providing the level and growth of income that investors have come to expect from the sector.
Third, we like TORIX because the management team has the ability and flexibility to invest in midstream assets owned by MLPs, as well as, traditional energy and utility corporations. This allows TORIX to be structured as a regulated investment company (RIC), which is more tax efficient for a broader set of our clients.
– Jason Jackman, CFA, president and chief investment officer, Johnson Investment Counsel with $8 billion in AUM in Cincinnati, Ohio

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