Energy Infrastructure Investing with MLPs

Why, how, and portfolio implications


Tuesday, April 27, 2010
12:00 pm – 1:30 pm
at the Omni Hotel, Downtown Los Angeles



James J. Murchie
Founder and CEO of Energy Income Partners, LLC


Chair: Charlotte Chamberlain

A Portfolio Manager Community of Interest program


MLPs currently offer a 7% yield and have grown their dividends 6-7% per year over the last 10 years.  These two components of total return compare favorably with other asset classes.  Why does this return opportunity exist and what are the risks?

James Murchie, Founder and CEO of Energy Income Partners, will discuss these and other issues at a luncheon hosted by the CFA Society of Los Angeles on Tuesday, April 27.  Energy Income Partners is a registered investment advisor that specializes in managing portfolios in energy infrastructure that generate stable and growing dividends by investing in MLPs, Income Trusts and similar equities.  Among the topics Jim will discuss:

Ø  The MLP Asset Class: What is it, how large is it, who owns them and what is its history.

Ø  MLP tax advantages and complexities.

Ø  High payout ratio: good or bad?

Ø  What drives dividend growth?

Ø  Which sectors fit best with the asset class, which do not?

Ø  Volatility and Covariance – how MLPs can enhance portfolio risk/return characteristics


James Murchie founded Energy Income Partners, LLC (EIP) in 2003. EIP manages funds that invest in Energy Master Limited Partnerships, Income Trusts and other energy related securities that operate energy infrastructure assets such as fee-based pipelines, terminals and storage.  The strategy has a tax-efficient yield-orientation and provides access to this alternative asset class.

From 1998 to 2003 Mr. Murchie managed a long/short fund that invested in both equities and commodities in the energy and basic materials sectors as head of Lawhill Capital. 

From 1995 to 1997, he was a managing director at Tiger Management where his primary responsibility was investments in commodities and related equities. 

From 1990 -1995 Mr. Murchie was a principal at Sanford C. Bernstein where he was a top-ranked energy analyst and sat on the Research Department’s Recommendation Review Committee. 

Before joining Bernstein, he spent 8 years at British Petroleum in 7 operating and staff positions of increasing responsibility. 

He has served on the board of Clark Refining and Marketing Company and as President and Treasurer of the Oil Analysts Group of New York. 

He holds degrees from Rice University and Harvard University. 

James has been married 30 years, has 3 daughters and lives in Westport, Connecticut.


Registration Links:
CFALA Members: $20.00
Non-members: $40.00

Time: 12:00 pm – 1:30 pm, Lunch

Location: Omni Los Angeles

                    251 South Olive Street

                    Los Angeles, CA 90071

                    For directions call hotel: (213) 617-3300



Payment Information:

Methods of payment accepted: Visa/Mastercard, American Express and Discover. If you prefer to pay by check please register online and select "purchase order" as your payment option and enter your last name as the purchase order number. Mail check to: CFA Society of Los Angeles, 350 S. Grand Ave, Suite 1680, Los Angeles CA 90071.


 *Credit card payments will only be accepted through the secure online registration, and not by phone or email.

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