Business & Finance
Business and Finance
Business and Finance
Mon, January 5, 2009
Fri, January 2, 2009 Kayne Anderson Energy Total Return Fund, Inc.: Kayne Anderson Energy Total Return Fund, Inc. Announces Its Net Asset Value and
HOUSTON, TX--(Marketwire - January 2, 2009) - Kayne Anderson Energy Total Return Fund, Inc. (the "Fund") (
As of December 31, 2008, equity and fixed income investments were 83% and 17%, respectively, of the Fund's long-term investments of $493 million. Long-term investments were comprised of MLPs and MLP Affiliates (57%), U.S. and Canadian Royalty Trusts (16%), Marine Transportation (9%), Coal (1%) and Energy Debt (17%). As of December 31, 2008, the Fund had short term investments of $86 million in deposits, cash and repurchase agreements.
The Fund's ten largest holdings by issuer at December 31, 2008 were:
Percent of Units/Par ($) Amount Long-Term (in thousands) ($ millions) Investments -------------- ------------ ----------- 1. Kinder Morgan Management, LLC (MLP Affiliate) 2,302 $92.0 18.7% 2. Plains All American Pipeline, L.P. (Pipeline MLP) 1,309 45.4 9.2% 3. Enterprise Products Partners L.P. (Pipeline MLP) 1,343 27.8 5.6% 4. Enbridge Energy Management, L.L.C. (MLP Affiliate) 1,037 25.4 5.1% 5. Navios Maritime Holdings, Inc. (Marine Transportation) $25,250 14.0 2.8% 6. Athabasca Oil Sands Corp. (Canadian Upstream) $19,500 13.5 2.7% 7. Enerplus Resources Fund (Canadian Royalty Trust) 683 13.4 2.7% 8. Crescent Point Energy Trust (Canadian Royalty Trust) 638 12.6 2.6% 9. Teekay Tankers Limited (Marine Transportation) 849 10.8 2.2% 10. Petrohawk Energy Corporation (Upstream MLP) $12,000 9.7 2.0%
The Fund is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940 whose common stock is traded on the NYSE. The Fund's investment objective is to obtain a high total return with an emphasis on current income by investing primarily in securities of companies engaged in the energy industry, principally including publicly-traded energy-related master limited partnerships and limited liability companies taxed as partnerships and their affiliates, energy-related U.S. and Canadian royalty trusts and income trusts and other companies that derive at least 50% of their revenues from operating assets used in, or providing energy-related services for, the exploration, development, production, gathering, transportation, processing, storing, refining, distribution, mining or marketing of natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the Fund's historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; energy industry risk; commodity pricing risk; leverage risk; valuation risk; non-diversification risk; interest rate risk; tax risk; and other risks discussed in the Fund's filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund's investment objectives will be attained.
