Tortoise MLP Fund, Inc. Provides Unaudited Balance Sheet Information And Asset Coverage Ratio Update As Of Sept. 30, 2013

Tortoise MLP Fund, Inc. (NYSE: NTG) today announced that as of Sept. 30, 2013, the company’s unaudited total assets were approximately $1.9 billion and its unaudited net asset value was $1.3 billion, or $27.96 per share.

As of Sept. 30, 2013, the company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act) and basic maintenance covenants. The company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 619 percent, and its coverage ratio for preferred shares was 465 percent. For more information on calculation of coverage ratios, please refer to the company’s most recent applicable prospectus.

Set forth below is a summary of the company’s unaudited balance sheet at Sept. 30, 2013 and a summary of its top 10 holdings.

Unaudited Balance Sheet
  (in Millions)   Per Share
Investments $ 1,923.6 $ 40.93
Cash and Cash Equivalents 0.4 0.01
Receivable for Investments Sold 0.5 0.01
Other Assets   2.5   0.05
Total Assets   1,927.0   41.00
 
Short Term Borrowings 15.4 0.33
Senior Notes 255.0 5.43
Preferred Stock   90.0   1.91
Total Leverage   360.4   7.67
 
Other Liabilities 5.6 0.11
Deferred Tax Liability   247.1   5.26
Net Assets $ 1,313.9 $ 27.96
 

47.00 million common shares currently outstanding.

Top 10 Holdings (as of Sept. 30, 2013)

Name
 

MarketValue (in Millions)
 

% ofInvestment Securities (1)
Energy Transfer Partners, L.P. $ 150.7 7.8 %
Spectra Energy Partners, L.P. 147.4 7.7 %
Enterprise Products Partners L.P. 131.6 6.8 %
Regency Energy Partners, L.P. 129.3 6.7 %
El Paso Pipeline Partners, L.P. 128.7 6.7 %
Boardwalk Pipeline Partners, LP 107.0 5.6 %
Williams Partners, L.P. 102.6 5.3 %
Plains All American Pipeline, L.P. 88.8 4.6 %
Buckeye Partners, L.P. 72.8 3.8 %
Markwest Energy Partners, L.P.   71.7 3.7 %
Total $ 1,130.6 58.7 %
 

(1) Percent of Investments and Cash Equivalents

About Tortoise MLP Fund, Inc.

Tortoise MLP Fund, Inc. owns a portfolio of master limited partnership (MLP) investments in the energy infrastructure sector, with an emphasis on natural gas infrastructure MLPs. Tortoise MLP Fund, Inc.’s goal is to provide its stockholders a high level of total return with an emphasis on current distributions.

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