HOUSTON--(BUSINESS WIRE)-- Kayne Anderson Midstream/Energy Fund, Inc. (the “Fund”) (NYSE: KMF) today provided a summary unaudited statement of assets and liabilities and announced its net asset value and asset coverage ratios under the Investment Company Act of 1940 (the “1940 Act”) as of October 31, 2012.
As of October 31, 2012, the Fund’s net assets were $653 million and its net asset value per share was $29.80. As of October 31, 2012, the Fund’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 426% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 329%.
Kayne Anderson Midstream/Energy Fund, Inc.
|Statement of Assets and Liabilities|
|October 31, 2012|
|(in millions)||Per Share|
|Receivable for securities sold||0.2||0.01|
|Credit facility borrowings||55.0||2.51|
|Payable for securities purchased||3.3||0.15|
|The Fund had 21.90 million common shares outstanding as of October 31, 2012.|
As of October 31, 2012, equity and debt investments were 83% and 17%, respectively, of the Fund’s long-term investments of $934 million. Long-term investments were comprised of Midstream Companies (42%), MLP and MLP Affiliate (36%), Other Energy (4%), Other (1%) and Debt (17%).
The Fund’s ten largest holdings by issuer at October 31, 2012 were:
| Units |
| Amounts |
|1.||The Williams Companies, Inc. (Midstream Company)||2,423||$84.8||9.1||%|
|2.||Kinder Morgan Management, LLC (MLP Affiliate)||1,008||75.3||8.1||%|
|3.||ONEOK, Inc. (Midstream Company)||1,478||69.9||7.5||%|
|4.||Kinder Morgan, Inc. (Midstream Company)||1,913||66.4||7.1||%|
|5.||Enbridge Energy Management, L.L.C. (MLP Affiliate)||1,045||32.8||3.5||%|
|6.||Spectra Energy Corp. (Midstream Company)||997||28.8||3.1||%|
|7.||Golar LNG Partners LP (Midstream Company)||886||26.8||2.9||%|
|8.||Buckeye Partners, L.P. (Midstream MLP)||549||25.8||2.8||%|
|9.||Regency Energy Partners L.P. (Midstream MLP)||955||22.0||2.4||%|
|10.||Plains All American Pipeline, L.P. (Midstream MLP)||459||20.8||2.2||%|