Master Limited Partnerships (MLPs) are stocks given tax preferences under the 1987 Tax Act. Basically, they are tax advantaged utilities benefiting from the shale energy boom in the United States.
MLP’s income is very attractive and most midstream MLPs offer solid dividend growth which grows their income. Because MLPs are tax advantaged, most of their income is treated as a return of capital and it carries no initial tax liability.* As a result, MLPs offer some of the most attractive after-tax equivalent yields and will likely experience distribution growth. Since most MLPs are involved in the build out of the energy infrastructure driving the United States Energy Shale Boom, the growth prospects for many MLPs is quite robust. Further, most MLPs are natural monopolies regulated by the Federal Energy Regulatory Commission. This means that many of these MLPs have government protected businesses that are free from unbridled competition. E.g. FERC won’t let a second pipeline be built next to a pipeline unless there is clear demand for a new pipeline.
Netwealth portfolio construction series: Economic Update with Roger MontgomerynetwealthInvest
Part of Netwealth's portfolio construction webinar series - Roger Montgomery, founder and Chief Investment Officer at Montgomery Investment Management presented to an audience on 22nd February 2017 and shared his views on major economic trends currently affecting local and global markets, stocks and sectors best placed for growth and what investors should look for in 2017.
Mercer Capital's Value of a Trust and Wealth Management FranchiseMercer Capital
For many banks, trust departments have ceased to simply be an added service and are expected to stand on their own. Trust franchises can add value to banks, but how much? This session will focus on what drives value in trust franchises, and how to build trust and wealth management operations to enhance the value of a bank.
The 2006 Temasek Review, titled “Managing for Value”, was launched in July 2006.
Structure
- Our Portfolio Highlights
- From the Chairman
- Group Financial Summary
- Our Investments
- Our Institution
- Our Partners and Friends
- Our Major Portfolio Investments
- Our Presence
Visit www.temasekreview.com.sg for latest Temasek Review.
Follow @Temasek on Twitter at www.twitter.com/Temasek.
Growing Money: Choosing Investments and Various StrategiesRavi Shikha
What we discuss :
How to allocate money in these 4 Assets Class : Domestic Equity, Global Equity, Gold and Debt
Mutual Fund Scheme Selection using Risk Reward Ratios, Rolling Returns etc.
Optimization of Portfolio based on HRP (Hierarchical Risk Parity) Model
Monitoring and Rebalancing of Portfolio
Franklin India Bluechip fund - Invest in Mutual funds with Franklin Templetonfranklintempletonindiaa
Franklin India Bluechip Fund is a diversified equity portfolio investing predominantly in large cap stocks. This fund is suitable for long term wealth creation. Visit Franklin Templeton India to know more.
Netwealth portfolio construction series - How to find undervalued investment ...netwealthInvest
Roger Montgomery from Montgomery Investment Management presented to an audience on 17th August 2016 on the "value investing" approach and what it means for investors.
Netwealth portfolio construction series: Economic Update with Roger MontgomerynetwealthInvest
Part of Netwealth's portfolio construction webinar series - Roger Montgomery, founder and Chief Investment Officer at Montgomery Investment Management presented to an audience on 22nd February 2017 and shared his views on major economic trends currently affecting local and global markets, stocks and sectors best placed for growth and what investors should look for in 2017.
Mercer Capital's Value of a Trust and Wealth Management FranchiseMercer Capital
For many banks, trust departments have ceased to simply be an added service and are expected to stand on their own. Trust franchises can add value to banks, but how much? This session will focus on what drives value in trust franchises, and how to build trust and wealth management operations to enhance the value of a bank.
The 2006 Temasek Review, titled “Managing for Value”, was launched in July 2006.
Structure
- Our Portfolio Highlights
- From the Chairman
- Group Financial Summary
- Our Investments
- Our Institution
- Our Partners and Friends
- Our Major Portfolio Investments
- Our Presence
Visit www.temasekreview.com.sg for latest Temasek Review.
Follow @Temasek on Twitter at www.twitter.com/Temasek.
Growing Money: Choosing Investments and Various StrategiesRavi Shikha
What we discuss :
How to allocate money in these 4 Assets Class : Domestic Equity, Global Equity, Gold and Debt
Mutual Fund Scheme Selection using Risk Reward Ratios, Rolling Returns etc.
Optimization of Portfolio based on HRP (Hierarchical Risk Parity) Model
Monitoring and Rebalancing of Portfolio
Franklin India Bluechip fund - Invest in Mutual funds with Franklin Templetonfranklintempletonindiaa
Franklin India Bluechip Fund is a diversified equity portfolio investing predominantly in large cap stocks. This fund is suitable for long term wealth creation. Visit Franklin Templeton India to know more.
Netwealth portfolio construction series - How to find undervalued investment ...netwealthInvest
Roger Montgomery from Montgomery Investment Management presented to an audience on 17th August 2016 on the "value investing" approach and what it means for investors.
The demand for and cost of electricity is growing and is expected to do so for the foreseeable future.
There is general interest in building renewable energy infrastructure projects to help meet that
demand. Climate Action Projects depend on increased use of renewable energy to lower
environmental impact and also include provisions for infrastructure to support electric vehicles.
Municipalities are experiencing severe financial hardship and in many cases, are overwhelmed by
debt while under pressure to execute their climate action goals. These fiscal challenges are
preventing municipalities from using new bond issuances to financing infrastructure projects.
An alternative method to support the development of new infrastructure projects is proposed and
relies on public private partnerships financed with equity rather than debt. Such alternatives can
allow projects to move forward in the current economic situation.
Presentation highlighting the Friendship is Magic ponies from My Little Pony. I love the strong female characters. I give this presentation to women in tech groups.
If you attended the Taylor Frigon Capital Management Open House on July 12, 2012 in our new San Luis Obispo offices, these were the slides that were displayed at various points on the circular walkway. If you were unable to attend, you can view them here as a slideshow.
The presentation covers all the details about Reliance AMC. It gives an investor a clear overview about the given AMC. The presentation covers the the most relevant topics of Reliance Mutual Fund that an investor wants to know, like - SWOT Analysis, Investment philosophy, types of funds along with the top performing funds of the AMC, the experience of the investors and the team which comprises of the management team as well as the team of fund mangers.
Last Wednesday we had a great discussion on how Trian would impact P&G over the next year to two. What we know is that as far as activists groups go, they are among the best in the lot. They tend to work very constructively with senior management and the board and to have really great ideas on how to improve performance and get shareholder price up. Trian is not necessarily a bad thing and, in many cases, it could be something very positive.
A big part of the discussion was about "What if I work at P&G?" While we talked about stock price, stock options and profit sharing, one thing we really emphasized was- Do you need a Plan B? For some who work at P&G, they may not have the job security they thought they might have. The best way to deal with that is to say, "If I need a Plan B, what is it?"
This is where Lenox and our Wealth Creation Unique Process can really help. Do you know what your strengths are? Do you know where you add the most value? Do you understand where, if you left P&G, you could go where you might add value?
Lenox also has new interactive financial planning technology. We an set up a base example of where you are financially. You are able to go in and run scenarios on the software and consider different options. This combination of tools is designed to help the P&G employee sort things out as Trian enters the stage.
Please enjoy and share our PowerPoint presentation.
SBI Magnum Balanced Fund: Balance Between Growth And Stability - Jan 2016SBI Mutual Fund
SBI Magnum Balanced Fund invests in a mix of equity and debt investments. It aims to balance the risk & return of the portfolio by investing in more than one asset class.Equity funds provide capital appreciation and generate returns above inflation. Debt funds provide stability and generate consistent income. Balanced fund aims at striking a balance between both. For more information about this hybrid scheme check our website page https://www.sbimf.com/Products/HybridSchemes/Magnum_Balanced_Fund.aspx
World economy charts case study presented by a Big 4
World economy charts case study presented by a Big 4
World economy charts case
World economy charts case study presented by a Big 4
World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4
World economy charts case study presented by a Big 4
World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4World economy charts case study presented by a Big 4study presented by a Big 4
The E-Way Bill revolutionizes logistics by digitizing the documentation of goods transport, ensuring transparency, tax compliance, and streamlined processes. This mandatory, electronic system reduces delays, enhances accountability, and combats tax evasion, benefiting businesses and authorities alike. Embrace the E-Way Bill for efficient, reliable transportation operations.
MUTUAL FUNDS (ICICI Prudential Mutual Fund) BY JAMES RODRIGUESWilliamRodrigues148
Mutual funds are investment vehicles that pool money from multiple investors to purchase a diversified portfolio of stocks, bonds, or other securities. They are managed by professional portfolio managers or investment companies who make investment decisions on behalf of the fund's investors.
2. Over 25 years of experience on Wall Street and 13 years investing in MLPs*
We are a Registered Investment Advisor specializing in Master Limited Partnership (MLPs), Dividend Growth Strategies, and Quantitative Strategies.
•We focus on strategies that invest in securities with growing earnings and distribution profiles as they are highly correlated with superior total returns over the long term.
•We invest in Master Limited Partnerships which offer attractive yields, high distribution growth, and stable business models based on long term fee based contracts and toll road business models.
•We offer Master Limited Partnerships through separate account management and within broader portfolios.
•Income Growth Advisors, LLC clients include retirement focused investors, Registered Investment Advisors, investment professionals, and high net worth individuals.
* Tyson Halsey, CFA , Income Growth Advisors, Managing Member
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3. What are Master Limited Partnerships (MLPs)?
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Source: Alerian and Salient
•An asset class with stock and bond characteristics, tax advantages, and an exceptional performance history.
•MLPs own, operate, build and acquire transportation, storage and processing assets of natural resources- primarily natural gas and petroleum distillates.
•MLPs are publicly traded partnerships formed under the 1986 Tax Act. They pay no taxes at the corporate level allowing tax advantaged cash flows to flow to the unit holder.
4. An American Energy Renaissance with Decades of Shale Drilling Ahead
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Source: Enterprise products and Platts
5. MLPs Powered through Distribution Growth
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•We estimate MLPs will yield 6% and grow their distributions 7% per year for the next fifteen years.
•A one million dollar MLP portfolio could hypothetically yield $60,000 in year one
and grow its tax advantaged distribution yield to $165,500 a year after 15 years.
This chart depicts the theoretical income generated from an MLP portfolio after 15 years assuming a 7% distribution growth rate and a 6% initial MLP portfolio yield portfolio. This illustration assumes no securities sales and does not adjust for taxes.
6.00%
6.42%
6.87%
7.35%
7.86%
8.42%
9.00%
9.63%
10.31%
11.03%
11.80%
12.63%
13.51%
14.46%
15.47%
16.55%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
18.00%
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
6% Yield Growing at 7% Per Year
6. Income Growth Advisors, LLC (IGA) MLP Strategy 21.61% annualized return since 12/31/2000*
IGA Asset Class Performance
•Since 12/31/2000 Income Growth Advisors, LLC:
–MLP asset class total return has annualized 21.61% (13 .42 years) before fees.*
–and has outperformed the Alerian benchmark by 3.88% per annum.
–and has outperformed the S&P Total Return since 2000 by 16.79%.
–Income Growth Advisors, LLC MLP asset class performance represents the returns of all MLP Investments in all accounts under management or control by Tyson Halsey, CFA since 12/31/2000.
•Five Year IGA MLP Capitalization Weighted Performance:
–IGA five year MLP asset class performance 33.12% annually before management fee.
–IGA MLP outperformance to AMZX 8.80% annually, since 5/31/2009.
–IGA MLP outperformance to the S&P 500 as measured by SPY is 15.03%.
•Attractive Tax Advantaged Income:
–Our Master Limited Partnership (MLP) strategy yields approximately 5.9%.
*Asset class performance is the aggregate size weighted performance of all MLP holdings of all accounts managed by Tyson Halsey, CFA since 12/31/2000. Past performance is not a guarantee of future returns. See performance disclaimer and commentary on last page.
**Alerian MLP Capitalization Weighted Total Return Index 12/31/2000 through 05/31/2014.
***Numbers are from Alerian.com and Yahoo Finance.
June 2014
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8. IGA MLP Strategy Performance against Benchmarks
Year to date, 1 yr., 3 yr., 5 yr., 10 yr, and since inception investment performance and outperformance of Income Growth Advisors, LLC Master Limited Partnership SMA asset class
versus Alerian Capitalization Weighted Index (TR) and the S&P 500 Total Return Index (SPY):
Returns are before management fee, but after commissions and custodial fees.
Calculations based on Portfolio Center and tracked since 2000 at Halsey Advisory and Management,
Elliot Davis Investment Advisors, and Income Growth Advisors, LLC
S&P 500 is represented by performance of SPY ETF and not the actual S&P 500 Index prices from Yahoo! Finance.
See performance disclaimer at end of the presentation.
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9. IGA MLP Strategy performance versus Alerian MLP TR Index (AMZX) and S&P 500 Index (SPY) 12/1/2000 to 5/31/2014
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Tyson Halsey, CFA managed accounts with Master Limited Partnerships at Halsey Advisory and Management, LLC,
Elliot Davis Investment Advisors, and Income Growth Advisors, LLC.
Grayed areas represent period of firm transitions from Elliot Davis to Polaris Partners to Income Growth Advisors, LLC
and performance is of those accounts which became Income Growth Advisors, LLC, clients.
Before management fees. Asset class performance.
Source: Yahoo! Finance and Alerian.
10. Tyson Halsey, CFA
Managing Member of
Income Growth Advisors, LLC
•Winner USA Today-CNBC National Investment Challenge.*
•Conferred CFA designation 1993.
•Halsey has managed Master Limited Partnership (MLP) portfolios for over 13 years.
•Halsey has been using quantitative investment strategies for nearly a decade.
–Employed by Merrill Lynch, Alex. Brown & Sons, Deutsche Bank Alex. Brown:1985-1999.
–Financial services professional since 1984.
–Exposure to some of the most talented and recognized fund managers in the world.
–Founded Halsey Advisory and Management, LLC in 1999.
* USA Today/CNBC National Investment Challenge, options division Q1 1992, paper trading, 1078% for quarter.
Registered Investment Advisor,
(RIA), Charleston, SC.
•Focused on securities with growing income profiles.
•Strategies designed to enhance retirement income.
•ADV available at SEC.gov.
Income Growth Advisors, LLC
234 Seven Farms Drive, Suite 123-C
Daniel Island, SC 29492
843-628-5611
th@incomegrowthadvisors.com
June 2014
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11. Performance Disclaimer
•The performance represented here is based on an asset class performance methodology. This methodology calculates the performance of all MLPs that are in the accounts controlled by Tyson Halsey, CFA since December 31, 2000. The performance deducts for brokerage fees, but does not deduct for management fees.
•Asset class performance is an industry recognized methodology, but one which does not qualify for GIPS--the Global Investment Performance Standard. GIPS endorses composite performance which tracks aggregate account performance.
•The benefit of Asset Class Performance is that it captures all accounts that own MLPs, so poor MLP picking in any account will hurt this performance. GIPS requires that an account’s investment strategy must be clearly stated in advance that it is to be solely or primarily invested in a particular strategy to qualify for composite performance. Many customers may prefer not to commit solely to a single (MLP) strategy when they hire an investment advisors or portfolio manager. This was typically the case and policy Tyson Halsey , Managing Member of Halsey Advisory and Management, LLC which existed from September 1999 until June 2009.
•Though the SEC does not publicly validate or certify any firms returns, Halsey Advisory was subject to three routine SEC audits and in 2008 had the SEC carefully reviewed its advertised MLP performance.
•The performance calculation was made with Portfolio Center software. Portfolio Center is a Schwab Performance Technologies is an industry standard software.
•The performance history shown spans Tyson Halsey’s employment by Halsey Advisory and Management, Elliot Davis Investment Advisors, Polaris Partners, Income Growth Advisors, and periods between investment firms.
•Given the size weightings, we believe there will be a high correlation of performance between our asset class performance and composite performance.
•We are working on Global Investment Performance Standards “GIPS” certification.
June 2014
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