Cushing® Announces Board Approval of Merger of Certain Closed-End Funds
CUSHING ENERGY INCOME FUND (SRF)
US:NYSE Investor Relations:
cushingcef.com/the-cushing-energy-income-fund
Company Research
Source: PR Newswire
DALLAS, Jan. 30, 2020 /PRNewswire/ -- The Board of Trustees (the "Board") of The Cushing® Energy Income Fund (NYSE: SRF) and The Cushing® MLP & Infrastructure Total Return Fund (NYSE: SRV), each a closed-end fund (together, the "Funds"), announced today that each Fund's Board has approved the merger of SRF with and into SRV.The merger is intended to provide potential benefits to common shareholders, including lower operating expenses, improved efficiencies in portfolio management and operations, and greater secondary market liquidity, among other things.The Funds have similar (but not identical) investment policies. Each Fund emphasizes investments in the energy, infrastructure and natural resources sectors, but SRF has a focus on upstream companies, including exploration and production companies, whereas SRV has a focus on investing in midstream companies, including infrastructure master limited partnerships ("MLPs").It is currently expected that the merger will be completed in the s
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