Barclays Bank PLC announced today the launch of the Barclays ETN+ Select MLP Exchange Traded Note (“ETN”) on the NYSE Arca stock exchange under the ticker symbol ATMP. The ETN is designed to provide investors with exposure to a basket of midstream US master limited partnerships (“MLPs”), limited liability companies (“LLCs”) and corporations by tracking the volume weighted average price (“VWAP”) of the Atlantic Trust Select MLP Index (the “Index”). Additionally, the Index will also provide exposure to general partners of US MLPs in Canada.
“In response to the growing demand for yield, this MLP ETN offers the potential for income along with upside appreciation via a more focused exposure to a subset of general partners and limited partners in the MLP space, developed by the Atlantic Trust team,” said Ian Merrill, Head of Barclays ETNs, Americas. “We are pleased to have been able to extend our range of Barclays ETN+ ETNs through this partnership.”
“The objective of the Index is to focus on a select group of midstream MLPs, as defined by credit ratings, size and other criteria, and their respective general partners,” said Adam Karpf, Portfolio Manager and Managing Director at Atlantic Trust. “Within the MLP sector, we believe that investment grade midstream MLPs offer an attractive opportunity set to capitalize on the secular trends in the energy industry. The inclusion of midstream general partners in the Index, structured as both MLPs and corporations, provides additional exposure to a fast growing and attractive sub-sector in the energy infrastructure industry.”