DALLAS, Dec. 16, 2021 /PRNewswire/ -- The Cushing® MLP & Infrastructure
Total Return Fund (NYSE: SRV) and The Cushing® NextGen Infrastructure
Income Fund (NYSE: SZC), each a non-diversified, closed-end
management investment company (the "Funds," and each a
"Fund"), announced today that effective on or about
December 31, 2021, Jerry V. Swank will retire and will no longer
serve as portfolio manager for the Funds or as Chief Executive
Officer and President of the Funds. The remaining members of each
Fund's portfolio management team will continue to be primarily
responsible for the day-to-day management of the Fund's
portfolio.
Mr. John H. Alban, chief
executive officer and chief operating officer of Cushing® Asset Management, LP, the
Funds' investment adviser, and currently the Chief Financial
Officer and Treasurer of the Funds, will succeed Mr. Swank as Chief
Executive Officer and President of the Funds.
Mr. Blake Nelson, chief financial
officer of Cushing Asset Management, will succeed Mr. Alban as
Chief Financial Officer and Treasurer of the Funds.
Mr. Swank will continue to serve as a Trustee of the Funds, and
due to his continuing ownership interest in Cushing Asset
Management will continue to be deemed an "Interested Trustee" of
the Trust.
Brian R. Bruce, Lead Independent
Trustee of the Funds said, "On behalf of our entire Board of
Trustees, I want to thank Jerry
Swank for his service and leadership over the years. Since
founding Cushing Asset Management and the launch of the first
Cushing closed-end fund nearly 15
years ago, Jerry has built a culture of strong investment
performance. The transition plan implemented by Jerry has
positioned Cushing Asset Management and the Funds for further
success under the capable leadership of John Alban, as Chief Executive Officer of
Cushing Asset Management and the Funds, and John Musgrave and Saket
Kumar, as Co-Chief Investment Officers of Cushing Asset
Management and lead portfolio managers of SRV and SZC,
respectively."
Additional Information
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.
There can be no assurance that the Funds will achieve their
investment objectives. Investments in the Funds involve operating
expenses and fees. The net asset value of the Funds will fluctuate
with the value of the underlying securities. It is important to
note that closed-end funds trade on their market value, not net
asset value, and closed-end funds often trade at a discount to
their net asset value.
ABOUT CUSHING® ASSET
MANAGEMENT, LP
Cushing®, a
subsidiary of Swank Capital, is an SEC-registered investment
adviser headquartered in Dallas,
Texas. Cushing serves as
investment adviser to affiliated funds and managed accounts
providing active management in markets where inefficiencies
exist.
Contact:
Blake
Nelson
Cushing® Asset
Management, LP
214-692-6334
www.cushingasset.com
View original
content:https://www.prnewswire.com/news-releases/cushing-mlp--infrastructure-total-return-fund-and-cushing-nextgen-infrastructure-income-fund-announce-upcoming-portfolio-manager-retirement-301446990.html
SOURCE Cushing® Asset Management, LP
