Ecofin’s Social Impact Team Aims to Further Enhance TSIFX Shareholder Experiences

·6 min read

Ecofin, today announced it has executed on several measures aimed at enhancing shareholder experiences and attracting new investors into its interval fund, Ecofin Tax-Advantaged Social Impact Fund (NASDAQ: TSIFX). Actions taken include:

  • Adviser voluntarily lowering the annual management fee by 50 basis points in the second quarter of 2021. The fee discount will be evaluated at the end of the quarter and a decision made on whether or not the discount will remain in place.

  • The build out of an investor portal in which clients may submit their provisional repurchase indications.

  • Addition of modest leverage to the fund; aimed at creating more liquidity for investors and potentially enhancing current shareholder returns.

"TSIFX seeks to provide a high level of tax-advantaged income, without taking inordinate credit or duration risk, by directly originating and structuring the investments in the form of bonds. The tradeoff is that the bonds are relatively illiquid, but in our view, an interval fund is the optimal vehicle for these assets," said Dave Sifford, Managing Director of the Social Impact team. "In addition to institutionalizing the repurchase process, our intentions in making these enhancements are to boost the yield and return for existing shareholders while attracting new investors and continuing to make a positive impact on society and the environment."

The investor portal to submit repurchase indications is located here: https://intervalfunds.ecofininvest.com/indication-of-interest/

About Ecofin

Ecofin is a sustainable investment firm dedicated to uniting ecology and finance. Our mission is to generate strong risk-adjusted returns while optimizing investors’ impact on society. We are socially-minded, ESG-attentive investors, harnessing years of expertise investing in sustainable infrastructure, energy transition, clean water & environment and social impact. Our strategies are accessible through a variety of investment solutions and seek to achieve positive impacts that align with UN Sustainable Development Goals by addressing pressing global issues surrounding climate action, clean energy, water, education, healthcare and sustainable communities. Ecofin Investments, LLC is the parent of registered investment advisers Ecofin Advisors, LLC and Ecofin Advisors Limited (collectively "Ecofin"). To learn more, please visit www.ecofininvest.com.

Basis point (bp) is a unit equal to 1/100th of 1% and is used to denote the change in a financial instrument. Duration is a commonly used measure of the potential volatility of the price of a debt security, or the aggregate market value of a portfolio of debt securities, prior to maturity. Securities with a longer duration generally have more volatile prices than securities of comparable quality with a shorter duration.

Before investing in the fund, investors should consider their investment goals, time horizons and risk tolerance. The fund's investment objective, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectus (click here) contain this and other important information about the fund. Copies of the fund's prospectus may be obtained by calling 855-TCA-FUND. Read it carefully before investing.

Investing involves risks. Principal loss is possible. The fund is suitable only for investors who can bear the risks associated with the limited liquidity of the fund and should be viewed as a long-term investment. The fund will ordinarily accrue and pay distributions from its net investment income, if any, once a quarter; however, the amount of distributions that the fund may pay, if any, is uncertain. There currently is no secondary market for the fund’s shares and the adviser does not expect that a secondary market will develop. Limited liquidity is provided to shareholders only through the fund’s quarterly Repurchase Offers for no less than 5% of the fund’s shares outstanding at net asset value. There is no guarantee that shareholders will be able to sell all of the shares they desire in a quarterly Repurchase Offer. The fund invests in Municipal-Related Securities. Litigation, legislation or other political events, local business or economic conditions or the bankruptcy of the issuer could have a significant effect on the ability of an issuer of municipal bonds to make payments of principal and/or interest. Changes related to taxation, legislation or the rights of municipal security holders can significantly affect municipal bonds. Because the fund concentrates its investments in Municipal-Related Securities the fund may be subject to increased volatility. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investment by the fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. The fund may invest in derivative securities, which derive their performance from the performance of an underlying asset, index, interest rate or currency exchange rate. Derivatives can be volatile and involve various types and degrees of risks. Depending on the characteristics of the particular derivative, it could become illiquid. The fund may utilize leverage, which is a speculative technique that may adversely affect common shareholders if the return on investments acquired with borrowed fund or other leverage proceeds do not exceed the cost of the leverage, causing the fund to lose money.

The municipal investments in the portfolio may be tax-exempt at the federal level, but taxes may still be applicable at the state and/or local level.

TCA Advisors is the adviser to the fund and Ecofin Advisors, LLC is the sub-adviser.

Quasar Distributors, LLC, distributor

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.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the funds and TCA Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund’s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the funds and TCA Advisors do not assume a duty to update this forward-looking statement.

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Contacts

Maggie Zastrow, (913) 981-1020
info@tortoiseecofin.com