Dallas – October 16, 2026 -- The NXG Cushing® Midstream Energy Fund (NYSE: SRV) will become The NXG Cushing® Energy Infrastructure Fund effective December 18, 2026, after its Board of Trustees approved a new name and a broader 80% investment policy.
The ticker symbol SRV and the CUSIP 231631300 for the Fund's common shares will not change.
Fund replaces its 80% midstream mandate with an 80% energy infrastructure mandate
Until now, the Fund has invested at least 80% of net assets, plus borrowings for investment purposes, in midstream energy investments. Those cover gathering, transporting, processing, fractionation, storing, refining and distribution of natural gas, natural gas liquids, crude oil, refined petroleum products, biofuels, carbon sequestration, solar and wind. From December 18, 2026, that policy is dropped. In its place, the Fund will put at least 80% of net assets, plus borrowings for investment purposes, into energy infrastructure investments.
New definition extends to power, utilities and data-center generation
The new policy covers four activity groups:
- Midstream and fuel infrastructure, including liquefaction, regasification, hydrogen, renewable fuels, export terminals, water handling tied to oil and gas production, and carbon capture and sequestration.
- Power and utility infrastructure for generating, transmitting, distributing and storing electricity or thermal energy from natural gas, nuclear, solar, wind, hydroelectric, geothermal and biomass sources.
- Distributed, behind-the-meter, mobile and modular power generation and storage, including power-as-a-service arrangements for data centers and other commercial and industrial customers.
- Engineering, construction, operation and leasing of such assets, equipment manufacturing (turbines, generators, fuel cells, batteries, compression and electrical distribution equipment) and dedicated energy logistics for fuels and proppants.
The Fund will treat a company as an energy infrastructure company if at least 50% of its consolidated assets, income, sales or profits are committed to or derived from these activities. Eligible exposure includes direct equity and debt securities as well as derivatives such as options and swaps.
Portfolio is already 90% energy infrastructure, so no rebalancing is planned
As of October 15, 2026, 90% of the Fund's net assets, plus borrowings for investment purposes, consisted of energy infrastructure investments. The Fund therefore does not expect to change its investment approach or rebalance its portfolio for the new policy.
Structural limits, adviser and management team stay unchanged
The Fund will keep its cap of 25% of total assets in energy master limited partnerships that qualify as publicly traded partnerships under the Internal Revenue Code. It remains non-diversified and can invest in companies of any market capitalization. Its investments stay concentrated in the natural resources sector, specifically midstream energy companies. The investment objective is unchanged: a high after-tax total return from capital appreciation and current income.
The investment adviser and the portfolio managers responsible for day-to-day management will not change. Shareholders need not take any action.