ClearBridge MLP and Midstream:CEM

    Manage Alerts

    Overview

    As of 4/13/2021

     Share
    Price
    NAVPremium/
    Discount
    Current$23.74$27.46-13.55%
    52 Wk Avg$17.08$21.06-19.28%
    52 Wk High$24.77$28.74-12.06%
    52 Wk Low$10.61$14.18-27.51%
    Regular Distribution TypeIncome Only
    Distribution Rate8.00%
    Distribution Amount$0.4750
    Distribution FrequencyQuarterly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Fund seeks to achieve its objective by investing primarily in master limited partnerships (MLPs) and midstream entities in the energy sector. Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in energy MLPs and energy midstream entities. The Fund considers an entity to be within the energy sector if it derives at least 50% of its revenues from the business of exploring, developing, producing, gathering, transporting, processing, storing, refining, distributing, mining or marketing natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal.

    Capital Structure

    As of 4/13/2021

    Total Investment Exposure:$513.122M
    Total Common Assets:$382.849M
    Common Shares Outstanding:13,942,046
    Leverage

    As of 4/13/2021

    Preferred Share Assets: $54.638M
    Total Debt (USD): $75.635M
    Regulatory Leverage (USD): $130.273M
    Effective Leverage (USD): $130.273M
    Effective Leverage (%): 25.39%
    Annual Expense Ratios

    As of 11/30/2020

      Per Common Share
    Management FeesN/A
    Other Expenses:N/A
    Baseline Expense: N/A
    Interest Expense:N/A
    Total: 3.57%
    Fund Management

    Fund Sponsor
    Franklin Templeton Investments

    Portfolio Managers
    Peter Vanderlee, Chris Eades, Michael Clarfeld, Richard A. Freeman

    Basics
    Category: Equity-MLP
    Ticker: CEM
    NAV Ticker: XCEMX
    Average Daily Volume (shares): 105,444
    Average Daily Volume (USD): $1.772M
    Inception Date: 6/25/2010
    Inception Share Price: $20.00
    Inception NAV: $19.07
    Tender Offer: No
    Term: No
    Fiscal Year End: November 30
    Third Party Links & Reports

    Distributions

    As of 4/13/2021

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 5/31/2019
    -$0.2606
    Annualized Distribution Rate on NAV:
    As of 4/13/2021
    6.92%
    Total Return on NAV (12 months):
    As of 4/13/2021
    132.29%
    Total % Portfolio Effectively Leveraged:
    As of 4/13/2021
    25.39%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 4/14/2021

    PeriodAvg Discount
    6 Month-17.45%
    1 Year-19.28%
    3 Year-12.23%
    5 Year-8.64%
    Z-Score

    As of 4/13/2021

    PeriodZStat
    3 Month0.91
    6 Month1.44
    1 Year1.79
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 3/31/2021
    Category: Morningstar US CEF MLP

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD42.35%31.49%30.69%21.91%
    2020-66.71%-62.99%-61.07%-56.46%
    201919.97%17.64%16.44%13.89%
    2018-24.69%-17.55%-22.39%-17.44%
    20177.85%-0.75%-0.56%-5.69%
    201613.17%17.35%34.69%33.32%
    2015-40.71%-39.68%-44.89%-43.81%
    20147.45%11.53%4.21%6.36%
    201325.45%28.34%20.35%29.71%
    20129.56%7.72%9.61%3.27%
    20119.14%10.86%4.04%11.83%
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 3/31/2021
    Category: Morningstar US CEF MLP

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Number of Holdings:
    As of 2/28/2021
    27
    Annual Portfolio Turnover:
    As of 11/30/2020
    33.00%
    Asset Allocation

    As of 2/28/2021 reported by Fund Sponsor

    Top Sectors

    As of 2/28/2021 reported by Fund Sponsor

    Sector%Portfolio
    Energy96.53%
    Sensitive (Super Sector)96.53%
    Utilities1.85%
    Defensive (Super Sector)1.85%
    Cash Equivalents1.62%
    Cash Equivalents (Super Sector)1.62%
    Top Holdings

    As of 2/28/2021 reported by Fund Sponsor

    HoldingValue% Portfolio
    MPLX LP Partnership Units$41.57M8.64%
    Enterprise Products Partners LP$41.11M8.54%
    Energy Transfer LP$33.63M6.99%
    ONEOK Inc$28.66M5.95%
    Magellan Midstream Partners LP$27.48M5.71%
    Williams Companies Inc$27.29M5.67%
    Targa Resources Corp$26.22M5.45%
    DCP Midstream LP$24.97M5.19%
    Western Midstream Partners LP$20.78M4.32%
    Enbridge Inc$17.88M3.72%
    Country Allocation

    As of 2/28/2021 reported by Fund Sponsor

    Country% Portfolio
    United States - Equity92.82%
    Canada - Equity3.72%
    Brazil - Equity1.85%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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