Goldman Sachs MLP Income Opportunities Fund Announces Quarterly Distribution of $0.205 Per Share
09 Mai 2020 - 2:42AM
Business Wire
Goldman Sachs MLP Income Opportunities Fund (the “Fund”)
(NYSE:GMZ) is announcing its quarterly distribution of $0.205
per common share.1 The distribution is payable on the date noted
below.
As the midstream sector has experienced a period of
unprecedented volatility, the portfolio management team has taken
numerous steps, including eliminating fund-level leverage, which we
believe protects shareholder capital, and repositioning the Fund’s
investments to withstand continued midstream volatility.
“We understand that investors highly value the income portion of
the Fund’s total return and while the reduction is substantial, we
believe it necessary in order to align the Fund’s payout with its
cash flow receipts. Additionally, this new distribution level will
allow for additional flexibility in the Fund’s portfolio. We
appreciate our investors’ continued ownership of the Fund and will
continue to evaluate all options in order to maximize shareholder
value going forward,” said Portfolio Manager Kyri Loupis.
The distribution schedule is as follows:
Ex-Date:
May 21, 2020
Record Date:
May 22, 2020
Payable Date:
May 29, 2020
Amount:
$0.205 per share
It is currently anticipated that a portion of this distribution
will be treated for tax purposes as a return of capital, however,
the final characterization of such distribution will be made in
early 2021 when the Fund can determine its earnings and profits for
the full year. The final tax status of the distribution may differ
substantially from this preliminary information.
In addition, portfolio holdings as of March 31, 2020, as well as
additional information regarding the Fund, can be accessed through
the GSAM Closed-End Fund landing page at www.GSAMFUNDS.com/cef.
Goldman Sachs Asset Management (“GSAM”) will host a conference
call for the Fund on May 21, 2020 at 11:00 AM EDT.
The call will briefly cover the market environment for U.S. energy
sector and provide an update on the closed-end fund investment
strategy.
The live webcast can be accessed via the web portal using
conference ID: gsammlp2020 or through the GSAM Closed-End Fund
landing page at www.GSAMFUNDS.com/cef.
Dial In Number: 888-668-1636 Conference ID: 8855909
Goldman Sachs MLP Income Opportunities Fund
Goldman Sachs MLP Income Opportunities Fund is a
non-diversified, closed-end management investment company managed
by Goldman Sachs Asset Management’s (“GSAM’s”) Energy &
Infrastructure Team, which is among the industry’s largest MLP
investment groups. The Fund began trading on the NYSE on November
26, 2013. The Fund seeks a high level of total return with an
emphasis on current distributions to shareholders. The Fund invests
primarily in master limited partnership (“MLP”) investments, a
significant portion of which deliver midstream infrastructure to
support growing hydrocarbon extraction. These include investments
in pipeline operators, natural gas processors, natural gas liquids
fractionators and storage facilities.
About Goldman Sachs Asset Management, L.P.
GSAM is the asset management arm of The Goldman Sachs Group,
Inc. (NYSE:GS) and supervises $1.66 trillion as of March 31, 2020.2
GSAM has been providing discretionary investment advisory services
since 1988 and has investment professionals in all major financial
centers around the world. The company offers investment strategies
across a broad range of asset classes to institutional and
individual clients globally. Founded in 1869, Goldman Sachs is a
leading global investment banking, securities and investment
management firm that provides a wide range of financial services to
a substantial and diversified client base that includes
corporations, financial institutions, governments and
high-net-worth individuals.
Disclosures
Midstream Definition: Midstream investments include
companies that are engaged in the treatment, gathering,
compression, processing, transportation, transmission,
fractionation, storage and terminalling of natural gas, natural gas
liquids, crude oil, refined products or coal. Midstream businesses
may also operate ancillary businesses including marketing of energy
products and logistical services.
Shares of closed-end investment companies frequently trade at a
discount from their net asset value (“NAV”), which may increase
investors’ risk of loss. At the time of sale, an investor’s shares
may have a market price that is above or below NAV, and may be
worth more or less than the original investment. There is no
assurance that the Fund will meet its investment objective. Past
performance does not guarantee future results. Investments in
securities of MLPs involve risks that differ from investments in
common stock, including among others risks related to limited
control and limited rights to vote on matters affecting MLPs,
potential conflicts of interest risk, cash flow risks, dilution
risks and trading risks.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any security. The Fund has
completed its initial public offering. Investors should consider
their investment goals, time horizons and risk tolerance before
investing in the Fund. An investment in the Fund is not appropriate
for all investors, and the Fund is not intended to be a complete
investment program. Investors should carefully review and consider
the Fund’s investment objective, risks, charges and expenses before
investing.
Compliance Code: 202951-OTU Date of First Use: May 8, 2020
___________________ 1 The Fund effected a 7-for-1 reverse share
split on April 13, 2020. 2 Assets Under Supervision (AUS) includes
assets under management and other client assets for which Goldman
Sachs does not have full discretion.
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Media: Patrick Scanlan 212-902-6164
Investors: Immanuel Tan 917-343-3375
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