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MLPs opportunity

|Includes: DEP, EEP, EPD, Enterprise GP Holdings, L.P. (EPE), KMP, SEP

Legg-Mason, UBS and others have announced they are launching MLP Funds.
They cite the advantages of high distribution rates (many between 5-9%), tax advantages, good growth opportunity (natural gas and pipeline MLPs), liquidity due to exchange listings and no K-1 reporting.
The sponsors and brokerage firms will push the MLP Funds because they want the juicy commission fees and management fees (some over 2%).
How can we take advantage? We do know the underwriters will buy MLPs to put into their MLP Funds. This will create "buying pressure" on a relatively limited universe.
BUY - EPD, EPE, EEP, KMP, DEP, SEP, DPM, NS, SPH, etc.


Or ... wait for the closed-end MLP Funds to be launched. There IPO price will be at least 5% above NAV and there is a good probability (based on history) they will trade at least 5% below NAV withing 60 days.

Disclosue: I own EPD, EPE, EEP, KMP, DEP, SEP, DPM, NS, SPH

Disclosure: long many natural gas piplint MLPs including all listed above