Master Limited Partnerships (MLPs)

October 2022

MLPs are publicly listed partnerships that invest primarily in the energy sector. The market has grown substantially since its inception, though it has leveled off in recent years. MLPs tend to provide attractive current yield and offer the opportunity for price appreciation. However, MLPs are more complicated from tax, accounting, and administrative perspectives.

In this paper, we provide an overview of MLPs’ structure, their history, performance and characteristics.