Strategy
New York Boutique Launches Strategy Index Subsidiary
Woodstock, NY-based boutique asset management firm
Miller/Howard
Investments has launched Miller/Howard Strategic Indexes,
a
majority-owned subsidiary that will develop indexes focused on
practical
investment applications.
Miller/Howard Strategic Indexes has already
launched its first index, the Miller/Howard MLP Fundamental
Index, with the
Chicago Board Options Exchange as index calculation agent. The
firm has
licensed the index to a major global bank for an ETN.
The Miller/Howard MLP Fundamental Index provides a
systematic set of rules for selecting and weighting a group of 25
master
limited partnerships with ratings for recent distribution growth,
distribution
coverage and estimated future distribution growth.
The index
seeks to go beyond cap-weighted MLP exposure, focusing on
factors
that the firm has identified as potential key drivers of total
return
performance.
The firm managed $6.1 billion in institutional and
individual client assets as of August 31, 2013.