Kayne Anderson Energy Total Return Fund Provides Unaudited Balance Sheet Information And Announces Its Net Asset Value And Asset Coverage Ratios At January 31, 2012

Kayne Anderson Energy Total Return Fund, Inc. (the “Fund”) (NYSE: KYE) today provided a summary unaudited balance sheet and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the “1940 Act”) as of January 31, 2012.

As of January 31, 2012, the Fund’s net assets were $964 million, and its net asset value per share was $27.43. As of January 31, 2012, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 460% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 329%.
 
Kayne Anderson Energy Total Return Fund, Inc.
Balance Sheet
January 31, 2012
(Unaudited)
      (in millions)       Per Share
Investments $ 1,401.2 $ 39.89
Cash 9.2 0.26
Deposits 0.1
Accrued income 6.6 0.19
Receivable for securities sold 4.7 0.14
Other assets   3.6   0.10
Total assets 1,425.4 40.58
 
Senior notes 301.0 8.57
Preferred stock   120.0   3.42
Total leverage   421.0   11.99
 
Payable for securities purchased 29.5 0.84
Other liabilities   11.2   0.32
Total liabilities 40.7 1.16
 
Net assets $ 963.7 $ 27.43
 
The Fund had 35.13 million common shares outstanding as of January 31, 2012.
 

As of January 31, 2012, equity and debt investments were 89% and 11%, respectively, of the Fund’s long-term investments of $1.4 billion. Long-term investments were comprised of MLP and MLP Affiliate (48%), U.S. and Canadian Income Trust (11%), Marine Transportation (17%), Coal (3%), Midstream & Other (10%) and Debt (11%).

The Fund’s ten largest holdings by issuer at January 31, 2012 were:

                    Percent of
Units Amounts Long-Term
(in thousands) ($ millions) Investments
1. Kinder Morgan Management, LLC (MLP Affiliate) 2,442 $187.9

13.4%
2. Enbridge Energy Management, L.L.C. (MLP Affiliate) 4,256 143.8 10.3%
3. Plains All American Pipeline, L.P. (Midstream MLP) 1,089 84.9 6.1%
4. Teekay Offshore Partners L.P. (Marine Transportation) 2,060 59.6 4.3%
5. Golar LNG Partners LP (Marine Transportation) 1,244 42.7 3.0%
6. Navios Maritime Partners L.P. (Marine Transportation) 2,248 36.5 2.6%
7. Kinder Morgan, Inc. (Midstream) 1,063 34.5 2.5%
8. Crescent Point Energy Corp. (Income Trust) 728 33.3 2.4%
9. The Williams Companies, Inc. (Midstream) 1,056 30.4 2.2%
10. Capital Product Partners L.P. (Marine Transportation) 3,841 30.2 2.2%

The Fund is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940 whose common stock is traded on the NYSE. The Fund’s investment objective is to obtain a high total return with an emphasis on current income by investing primarily in securities of companies engaged in the energy industry, principally including publicly-traded energy-related master limited partnerships and limited liability companies taxed as partnerships and their affiliates, energy-related U.S. and Canadian royalty trusts and income trusts and other companies that derive at least 50% of their revenues from operating assets used in, or providing energy-related services for, the exploration, development, production, gathering, transportation, processing, storing, refining, distribution, mining or marketing of natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the Fund’s historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; energy industry risk; commodity pricing risk; leverage risk; valuation risk; non-diversification risk; interest rate risk; tax risk; and other risks discussed in the Fund’s filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund’s investment objectives will be attained.

Copyright Business Wire 2010

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