EIPX

EIPX actively manages a portfolio of energy firms, stretching across multiple industries from the broadly defined energy space. The fund includes global companies classified under GICS' energy, utilities (except water), and other sectors that derive at least 50% of their revenues from exploration, development, production, transportation, processing, storing, refining, distribution, or marketing of oil and gas, as well as other energy sources. Firms that derive at least half of their profits from engineering, consultation, and construction services of these sectors are also eligible for inclusion. Holdings are selected by evaluating a company's yield, growth, and valuation. The sub-adviser particularly looks for companies with stable cash flows, high and sustainable dividend payouts, increasing per share earnings, and the potential for positive changes in value. The fund limits its exposure to MLPs and other firms taxed as partnerships to comply with applicable tax diversification rules.