Tortoise Announces Expected Constituent Changes Due to Merger and Acquisition Activity

Tortoise invests in essential assets those assets and services that are indispensable to the economy and society.

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Business Wire, Inc.Business Wire, Inc.
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Tuesday, March 31, 2020
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Energy, Professional services, Oil, Gas, Finance, Dow Jones, Index, Tortoise, Economy, Articles, Economic data, S&P Dow Jones Indices
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KANSAS, United States
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TORTOISE
Summary
Key Points: 
  • Tortoise invests in essential assets those assets and services that are indispensable to the economy and society.
  • With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities.
  • The index mentioned 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 Tortoise MLP Index, Tortoise North American Pipeline IndexSM, Tortoise North American Oil and Gas Producers IndexSM, Tortoise Water Index SM and Tortoise Global Water ESG IndexSM (the Indices).
  • The Indices are not sponsored by S&P Dow Jones Indices or its affiliates or its third party licensors (collectively, S&P Dow Jones Indices).


Tortoise today announced that AquaVenture Holdings Ltd. (NYSE: WAAS) will be removed from the Tortoise Global Water ESG Total Return IndexSM with weight allocated pro rata to existing constituents, effective April 1, 2020, as a result of the completion of the merger into Culligan International Co., a private U.S. company, on March 30, 2020.

About Tortoise

Tortoise invests in essential assets – those assets and services that are indispensable to the economy and society. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. To learn more, please visit www.tortoiseadvisors.com.

The Tortoise Global Water ESG Total Return IndexSM is a proprietary, rules-based, modified capitalization-weighted, float-adjusted index comprised of companies that are materially engaged in the water infrastructure or water management industries.

The index mentioned 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 Tortoise MLP Index®, Tortoise North American Pipeline IndexSM, Tortoise North American Oil and Gas Producers IndexSM, Tortoise Water Index SM and Tortoise Global Water ESG IndexSM (the “Indices”). The Indices are 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 Indices. “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”).

This data is provided for informational purposes only and is not intended for trading purposes. This document shall not constitute an offering of any security, product or service. The addition, removal or inclusion of a security in the index is not a recommendation to buy, sell or hold that security, nor is it investment advice. The information contained in this document is current as of the publication date. Tortoise makes no representations with respect to the accuracy or completeness of these materials and will not accept responsibility for damages, direct or indirect, resulting from an error or omission in this document. The methodology involves rebalancing and maintenance of the index that is made periodically during each year and may not, therefore, reflect real time information.

Safe Harbor Statement

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

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