Swank Capital and Cushing® Asset Management Announce Constituent Changes to The Cushing® 30 MLP Index

DALLAS, Oct. 20, 2016 /PRNewswire/ -- Swank Capital, LLC and Cushing® Asset Management, LP announce an upcoming interim change to the constituents of The Cushing® 30 MLP Index (the "Index"). Per the Index's methodology guide, a constituent change due to a distribution cut will take place on the earlier of the distribution ex-date or the last trading day of the current month. Due to the September 30, 2016, distribution cut announcements by Plains All American Pipeline, L.P. (NYSE: PAA) and Plains GP Holdings, L.P. (NYSE: PAGP), after the market closes on October 27, 2016, (the distribution ex-date for both PAA and PAGP) and effective on October 28, 2016, Spectra Energy Partners, LP (NYSE: SEP) will replace PAA and DCP Midstream Partners LP (NYSE: DPM) will replace PAGP as a constituents of the Index.

Each replacement constituent will be added at the then-current weight of the corresponding removed constituent. There will be no changes to the remaining constituents of the Index.

ABOUT THE CUSHING® MLP INDEX

The Cushing® 30 MLP Index tracks the performance of 30 publicly traded MLP securities that hold midstream energy infrastructure assets in North America, chosen according to a formula-based proprietary valuation model developed by Cushing® Asset Management, LP to rank MLPs for potential inclusion in the Index.  The Index price level is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "MLPX".

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® Upstream Energy Income Index (Bloomberg Ticker:  CRTY).  For more information, please visit http://www.cushingasset.com/indices.

The Cushing® 30 MLP 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.

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SOURCE Cushing Asset Management, LP; Swank Capital, LLC