Duff & Phelps Select MLP and Midstream Energy Fund Redeems Preferred Shares
Have you suffered losses investing in Duff & Phelps Select MLP and Midstream Energy Fund (DSE)? If so, the securities attorneys at The White Law Group may be able to help you recover your losses through FINRA Arbitration.
The Fund’s investment objective is to seek a high level of total return resulting from a combination of current tax-deferred distributions and capital appreciation.
Under normal market conditions, the Fund will invest at least 80% of its managed assets in energy master limited partnerships (‘MLPs’) and midstream energy companies that are not organized as MLPs.
According to reports, the Duff & Phelps Select MLP and Midstream Energy Fund Inc. announced that it will redeem all outstanding shares of the 4.65% Series B Preferred Shares (CUSIP No. 26433F3#3), effective April 15, 2020 (the redemption date).
Unfortunately for investors in the fund, the Duff and Phelps Select MLP and Midstream Energy Fund has suffered catastrophic losses over the last year.
MLP Funds are Complex Investments
The White Law Group is investigating the liability that brokerage firms may have for recommending high risk funds that invest primarily in MLPs.
Master Limited Partnerships (MLPs) are extremely complex and risky, making them better suited for institutional investors or wealthy and sophisticated retail investors.
Aggressive financial advisors may have unsuitably recommended the Duff & Phelps Select MLP and Midstream Energy Fund in an effort to chase yield. Investors who buy solely on the basis of the dividend may experience losses as the dividend is cut and the stock price declines in response.
If your financial advisor over-concentrated your portfolio, you may have a viable claim to recover your losses. Financial advisors are required to make suitable investment recommendations, accounting for your age, income, net worth, investment experience, and investment objectives. Diversification is the key to reducing risk. As such, over-concentrated exposure to any sector or investment but particularly volatile industries like oil and gas, can be unsuitable for many investors.
If you suffered losses investing in Duff & Phelps Select MLP and Midstream Energy Fund and would like to discuss your litigation options, please call The White Law Group at 888-637-5510 for a free consultation.
The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee. The firm represents investors throughout the country in FINRA arbitration claims against their brokerage firm.
For more information on The White Law Group, visit www.whitesecuritieslaw.com.