Tortoise
Global Water ESG Fund (TBLU)

The Tortoise Global Water ESG Fund uses a passive management approach and seeks investment results that correspond generally to the price and distribution rate performance of the Tortoise Global Water ESG Net Total Return Indexâ„ , which is comprised of companies across the globe and throughout the water cycle that we believe are positioned to benefit from the pursuit of solving the water supply/demand imbalance

Tortoise Global Water ESG Index - a differentiated strategy

Purity - minimum 50% water exposure

  • Companies must (i) derive at least 50% of their revenues from water industry related activities, or (ii) derive at least 40% of their revenues from the water industry, be ranked in the top five companies by total revenue derived from any one water sub-industry, and whose principal source of revenue comes from the water industry
  • Water infrastructure, principal business is providing public water distribution or supporting/enhancing water distribution infrastructure
  • Water equipment/services, principal business is producing water equipment such as pipes, pumps, valves and water efficiency products, or water services, such as filtration, treatment and testing of water

Sustainability - environmental, social and governance (ESG) screen

  • Minimum required ESG score of 48, provided by Sustainalytics*
  • At least 80% of the market cap of the index must meet minimum ESG score
  • Any existing constituent that drops below our existing threshold for three consecutive quarters will be removed. Any name that drops more than eight points below our existing threshold will be removed at the next rebalance.

*The largest pure-play investment research and ratings firm dedicated to responsible investment and ESG research

Investibility - liquidity

  • Minimum liquidity turnover of 0.15 for two consecutive quarters to enter the index
  • Market capitalization of $400 million for two consecutive quarters at time of index inclusion
  • Including a liquidity threshold that is proportional to market cap results in an index that represents a universe that is actually potentially investible


Fund Details

Total net assets $4.33M
Investment objective Total Return
Fiscal year end November 30
Structure Regulated Investment Company (RIC)
 
TBLU
Fund Stats as of 09/19/2018
Symbol TBLU
Listing Exchange Cboe BZX
CUSIP 56167N753
Inception Date 2/14/2017
Market Price $29.22
NAV $28.88
NAV Change  $-0.22
Premium/(Discount) 1.19%
Price Change  $0.05
Total Net Assets $4.33M
Total Market Value $4.38M
Shares Outstanding 150,000
Management Fee 0.40%
Total Expenses 0.40%


Shares of the Fund trade based on market prices rather than the Fund's net asset value per share ("NAV"). Consequently, shares of the Fund may trade at a price greater than (premium) or less than (discount) the Fund's NAV. The above table presents information for the period indicated about how often the most recent market closing price for the shares of the Fund reflected a premium or discount to the Fund's NAV for each trading day and the amount of each such premium or discount, expressed as a percentage of that day's NAV.

Fund Resources
Frequently Asked Questions  
Quarterly Fact Sheet  
Tax Information
Fund documents