Zvichemo, Mazano uye Mhedzisiro
Chii chinonzi MLP?
Sangano reMLP rinoshandiswa sechinhu chakafanana, asi-sezvo ichibvumirana nemutemo-inotakura mitero yekubatana (kureva, hapana hurumende kana hurumende inobhadhara mitero pamusangano wekambani). Vashandi vanozvitenga "zvikwata" zvehukama panzvimbo yezvikamu , uye ivo vanonzi "vashandisi" pane "vagoveri."
Nokuti MLPs haifaniri kubhadhara mitero yekambani, vane mari yakawanda yekuwana mari yekugovera zvipo zvavo. Kuronga sangano reMLP, kambani inofanira kuwana 90% yemari inowanikwa kubva kumabasa ane chokuita nezvinhu zvepanyika, zvigadzirwa kana zvivako. Nokudaro, mamiriyoni eMLPs ndiwo mabhizimisi ekukura-zvakakosha - zvakadai semapipeline uye zvigaro zvekuchengetedza - iyo makambani emagetsi akashandura kunze kwemakore. Ruzhinji rweMLPs 'maitiro anowanikwa muNorth America.
Sezvo mabhizimisi ari pasi pfupi ari kukura-kukura, vatengesi havafaniri kutarisira zvikwereti zvekare kwenguva refu. Zvisinei, kukura kunononoka kunowiriranawo nekugadzikana, izvo zvinoreva kuti MLPs - apo inotengeswa pamusika wekutengeswa - inowanzova isina kuwedzera kune yakasikwa yezvinhu zvakasikwa zviwanikwa. Chimwe chikonzero cheizvi ndechekuti ivo kazhinji havasi ivo vanovimba nemitengo yezvinhu kuti vawane mari. Uyewo, vatengesi vanogona kuwanisa kuwana zvibereko zvinokwezva zviri pamusoro peavo zvinowanika munzvimbo dzakawanda dzehutano kana yezvisungo zvemisika.
Nzira Yokushandisa Sei MLPs?
Vashandi vanogona kutenga mumwe munhu MLPs achishandisa kambani yekutengeserana , kana kuti vanogona kusarudza mari yekuvhara kwepfumi kana zvinyorwa zvinotengeserana (ETNs). MLPs inowanikwawo neAlerian MLP exchange-traded fund , kana ETF (ticker: AMLP), iyo inopa hutano hwakasiyana-siyana kune chikamu ichi chemusika kuburikidza nekutsvaga kumwe.
Mamwe emakuru makuru eMLPs ndeye Kinder Morgan Energy Partners (KMP), Enterprise Products Partners (EPD), Magellan Midstream Partners (MMP), Plains All American Pipeline (PAA), uye Energy Transfer Partners (ETP).
Iva nechokwadi chekukurukura nemudzidzisi wako wezvemitero usati waita mari muMLPs kana chero ipi zvayo inoshandisa MLPs. Vapi vemunhu mumwe chete MLPs vanofanira kuisa fomu yakabhadhara yemutero inozivikanwa seK-1 gore negore, kunyange izvi zvisingadikanwi nemari yekutsinhanisa-inoshandiswa, yakadai seAlerian MLP.
Kudzoka kweMLPs
Kubva munaMarch 31, 2014, the Alerian MLP Index (AMZX) yakabudisa makore gumi nemasere evhareji yegore rekudzoka kwe14,9%. Real-estate trusts, kana REITs , yakadzoka 8.2% gore negore panguva imwe chete, apo kushandiswa kwematokari emadhora ekudzoka kwaive ne 9.7%. Zvose REITs uye zvishandiso zvinoshandiswa zvakakurumbira kune vashandi vanogona kuwana mari. I S & P 500 Index, chiyero chakawanda chekushanda kwemashamba emari yeU.S., yakawana pfuma yegore ye 7.4% munguva imwe chete. Ramba uchifunga mupfungwa dzako, izvi zvinodzoka zvakare uye hazvisi izvo zvinogumira.
Kubva musi iwoyo iwoyo, kukohwa kwega yega yega yeklasi yaiva yakatevera: MLPs, 5.7%; REIT, 4.0%; zvishandiso, 4.1%; S & P 500, 2.2%.
Ngozi dzeMLPs
MLPs inowanzoita zviri nani (maererano nemutengo wekuita kwavo) apo chido chezvibereko chiri pasi kana kuti chichiwa .
Kana mitengo ichikwidziridzwa kana ichikwira , MLPs inowanzopa kudzoka kwakaderera. Chimwe chikonzero cheizvi ndechekuti kana zvikwereti zvakaderera, vatengi vanobva kunze kwezvimwe zvinhu zvakachengeteka kuti vatsvake mari mune dzimwe nzvimbo mumusika, zvakadai seMLPs Zvimwe, apo maitirwo akareba, vatengesi vachadzoka zvakare kuUnited States Mashekeri kana zvimwe zvingave zvakanyanya kuisa pangozi mari inowanikwa mari.
MLPs inosanganawo nehutano hwekutonga mupfungwa yokuti chimiro chavo chinotsanangurwa nemutero wemitero. Kana mutero wemitero waifanira kuchinja nenzira yakaipa, kubvisa MLPs zveimwe yemitero yavo yemitero, mutengo wavo waizoita zvakaipa. Mikana yeiyi iri pasi, asi ndeyekufungisisa.
MLPs muPodfolio Construction
Nhoroondo yekare, MLPs ine uwandu hwepakati hwezvakaitika kare kune dzimwe nzvimbo dzepamusika-zvinoreva kuti dzinowanzochinja-chinja mune mafashoni akazvimiririra panzvimbo pokusungirirwa kushanda kwekambani yakawanda.
Somugumisiro, kubata MLPs kunowedzera huwandu hwehupfumi huri muhupfumi husina kukodzera - kureva, zvinhu izvo zvisingatauri kuenderera mberi nevamwe.