LEAWOOD, Kan.--(BUSINESS WIRE)--Tortoise Index Solutions today announced that Spectra Energy Corp. (NYSE: SE) will be removed from the Tortoise North American Pipeline IndexSM (“TNAP”) as it will cease trading on the NYSE due to the announcement that all required regulatory approvals have been granted to finalize its merger with Enbridge Inc. (TSX,NYSE: ENB). The special rebalancing of TNAP constituents will occur after the close of business today.
About Tortoise Index Solutions
Tortoise Index Solutions, LLC provides research-driven indices that can be used as a realistic basis for exchange-traded products and thought leadership in the universe of essential assets. Its indices are intended to fill a void in the market and provide benchmarks and investible asset class universes for use by investment professionals, research analysts and industry executives to analyze relative performance, as well as to provide a basis for passively managed exchange-traded products. Tortoise Index Solutions, LLC is part of the Tortoise Investments family, which had approximately $21.3 billion of assets under advisement through its family of registered advisers as of Jan. 31, 2017. For more information about Tortoise Index Solutions, LLC visit www.tortoiseindexsolutions.com or www.tortoiseinvest.com
About Tortoise North American Pipeline IndexSM
The Tortoise North American Pipeline Index is a float-adjusted, capitalization weighted index of pipeline companies that are organized and have their principal place of business in the United States or Canada. A pipeline company is defined as a company that either 1) has been assigned a standard industrial classification (“SIC”) system code that indicates the company operates in the energy pipeline industry or 2) has at least 50% of its assets, cash flow or revenue associated with the operation or ownership of energy pipelines. Pipeline companies engage in the business of transporting natural gas, crude oil and refined products, storing, gathering and processing such gas, oil and products and local gas distribution. The index includes pipeline companies structured as corporations, limited liability companies and master limited partnerships (MLPs).
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The Tortoise North American Pipeline IndexSM (“the Index”) is the exclusive property of Tortoise Index Solutions, LLC, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) to calculate and maintain the Index. The index is not sponsored by S&P Dow Jones Indices or its affiliates or its third party licensors (collectively, “S&P Dow Jones Indices”). S&P Dow Jones Indices will not be liable for any errors or omissions in calculating the Index. “Calculated by S&P Dow Jones Indices” and its related stylized mark(s) are service marks of S&P Dow Jones Indices and have been licensed for use by Tortoise Index Solutions, LLC and its affiliates. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC (“SPFS”) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”).
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