Kayne Anderson Energy Total Return Fund Provides Unaudited Balance Sheet Information and Announces Its Net Asset Value and Asset Coverage Ratios at November 30, 2011
HOUSTON--(BUSINESS WIRE)-- Kayne Anderson Energy Total Return Fund, Inc. (KYE) (the Fund) (NYSE: KYE) today provided a summary unaudited balance sheet and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act) as of November 30, 2011.
As of November 30, 2011, the Funds net assets were $884 million, and its net asset value per share was $25.25. As of November 30, 2011, the Funds asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 434% and the Funds asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 310%.
|Kayne Anderson Energy Total Return Fund, Inc.|
|November 30, 2011|
|(in millions)||Per Share|
|Receivable for securities sold||4.8||0.14|
|Payable for securities purchased||8.4||0.24|
|The Fund had 35.0 million common shares outstanding as of November 30, 2011.|
As of November 30, 2011, equity and debt investments were 87% and 13%, respectively, of the Funds long-term investments of $1.3 billion. Long-term investments were comprised of MLPs and MLP Affiliates (46%), U.S. and Canadian Income Trusts (12%), Marine Transportation (16%), Coal (4%), Midstream & Other (9%) and Debt (13%).
The Funds ten largest holdings by issuer at November 30, 2011 were:
|1.||Kinder Morgan Management, LLC (MLP Affiliate)||2,427||$171.8||13.4%|
|2.||Enbridge Energy Management, L.L.C. (MLP Affiliate)||4,256||135.6||10.6%|
|3.||Plains All American Pipeline, L.P. (Midstream MLP)||1,089||70.6||5.5%|
|4.||Teekay Offshore Partners L.P. (Marine Transportation)||2,060||56.6||4.4%|
|5.||Golar LNG Partners LP (Marine Transportation)||1,231||35.9||2.8%|
|6.||Kinder Morgan, Inc. (Midstream)||1,207||35.6||2.8%|
|7.||Crescent Point Energy Corp. (Income Trust)||728||31.7||2.5%|
|8.||Navios Maritime Partners L.P. (Marine Transportation)||2,248||30.7||2.4%|
|9.||Enerplus Corporation (Income Trust)||1,168||30.6||2.4%|
|10.||ONEOK, Inc. (Midstream)||367||30.6||2.4%|
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 Funds 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 Funds 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 Funds 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 Funds investment objectives will be attained.
KA Fund Advisors, LLC
Monique Vo, 877-657-3863
Source: Kayne Anderson Energy Total Return Fund, Inc.Copyright Business Wire 2011