NXG NextGen Fund Approves New Advisory Agreement, Trustees Elected
NXG NextGen Infrastructure Income Fund held its Annual Meeting, where shareholders elected Ms. Andrea N. Mullins and Mr. John H. Alban as Class II Trustees. Shareholders also approved a new investment advisory agreement with Cushing® Asset Management, LP. This new agreement was necessitated by a change of control in the Adviser, as NXG Cushing, LLC acquired a 62% interest, replacing the previous general partner. The terms, services, and advisory fee rate of 1.25% of Average Weekly Managed Assets remain unchanged from the prior agreement, and existing fee waivers continue.
Key Highlights
- Annual Meeting of Shareholders held on June 18, 2026, adjourned to July 10, 2026.
- Ms. Andrea N. Mullins and Mr. John H. Alban elected as Class II Trustees until 2028.
- Shareholders approved a new investment advisory agreement with Cushing® Asset Management, LP.
- NXG Cushing, LLC acquired 62% interest in the Adviser, replacing Swank Capital, LLC as general partner.
- The acquisition caused a change of control, terminating the prior advisory agreement.
- New Advisory Agreement has no material differences in terms or services from the prior agreement.
- Advisory fee rate remains 1.25% of Average Weekly Managed Assets.
- Adviser continues to waive 0.25% of Managed Assets through February 1, 2027.
Price Impact
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