Strategy. The Fund is a non -diversified series of the Trust and is regulated as an investment company under the Investment Company Act of 1940 (the 1940 Act). The Fund is actively managed and does not seek to track the performance of an index. The Funds primary investment objective to provide a high level of current income to shareholders and secondary investment objective of capital appreciation are non -fundamental . The Fund seeks to invest in equity and fixed income securities primarily in power and energy infrastructure companies that provide stable and defensive characteristics throughout economic cycles. Such companies provide consistent dividends and stable earnings regardless of the state of the overall stock market. The Funds investment approach emphasizes current income, … Show more… The Fund is a non -diversified series of the Trust and is regulated as an investment company under the Investment Company Act of 1940 (the 1940 Act). The Fund is actively managed and does not seek to track the performance of an index. The Funds primary investment objective to provide a high level of current income to shareholders and secondary investment objective of capital appreciation are non -fundamental . The Fund seeks to invest in equity and fixed income securities primarily in power and energy infrastructure companies that provide stable and defensive characteristics throughout economic cycles. Such companies provide consistent dividends and stable earnings regardless of the state of the overall stock market. The Funds investment approach emphasizes current income, low volatility, and minimization of downside risk by selecting stocks with lower price fluctuations over the long term in order to mitigate losses in down markets. Under normal circumstances, the Fund invests at least 80% of its total assets (including assets obtained through borrowings for investment purposes) in electrification infrastructure assets. For purposes of this 80% policy, electrification infrastructure assets include issuers that derive more than 50% of their revenue from power or electric energy infrastructure operations. Electrification refers to the increase and expansion of electric power generation and delivery. Electrification infrastructure companies use long -lived assets to provide electric power generation (including nuclear and renewable energy), transmission and distribution. Electrification infrastructure companies are engaged in the production or delivery of energy -related goods or services and include (i) companies that use a network of pipeline assets to transport, store, gather and/or process crude oil, refined petroleum products (including biodiesel and ethanol), natural gas or natural gas liquids and other low carbon fuels, (ii) companies that store, transport, distribute or treat water, waste management, electric and heating systems and (iii) companies in the renewable and clean energy sectors such as those that produce or deliver solar, wind, hydro or geo -thermal related products or services. The Fund seeks to achieve its investment objectives by investing in a wide range of securities that generate income, including both dividend -paying equity securities and fixed income securities. Up to 25% of these securities may be securities issued by master limited partnerships (MLPs). Securities that generate income in which we may invest include the following types of securities: Power and Energy Infrastructure Equity Securities . We may invest in a wide range of equity securities issued by power and energy infrastructure companies that are expected to pay dividends on a current basis. We expect that such equity investments will primarily include common stock and MLP common units. Our investment in MLP Securities is limited to 25% of total assets. Power and Energy Infrastructure Fixed Income Securities . Fixed income securities include bonds, debentures, or other debt instruments, which are expected to provide a high level of current income. Our investments in securities that generate income may have fixed or variable principal payments and various interest rate and dividend payment and reset terms, including fixed rate, floating rate, adjustable rate and payment in kind features. Our investments may have extended or no maturities. Securities that generate income also may be subject to call features and redemption provisions. We may invest in securities of any credit quality that generate income, including up to 25% of our total assets in fixed income securities rated non -investment grade (commonly referred to as junk bonds), that are considered speculative as to the issuers capacity to pay interest and repay principal. Covered Call Options Strategy. We also seek to provide current income from gains earned through an option strategy. We currently intend to write (sell) call options on selected equity securities in our portfolio and to only write call options on securities we hold in our portfolio (covered calls). The notional amount of such calls is expected to be less than approximately 20% of the total value of our portfolio, although this percentage may vary depending on the cash flow requirements of the portfolio and on Tortoise Capital Advisors, L.L.C.s (the Adviser) assessment of market conditions. Under current market conditions, we presently intend to write covered calls that are generally one to three month terms and generally range from 5% to 15% out of the money, although this may vary from time to time. We currently intend to focus our covered call strategy on other energy infrastructure companies that our Adviser believes are integral links in the energy infrastructure value chain for pipeline companies, although we may write options on other securities in our portfolio in certain market environments. The Fund may invest up to 10% of its total assets in securities issued by non -U .S. issuers (including Canadian issuers). The Fund may invest in both equity and fixed -income securities issued by non -U .S. issuers. The Fund will not invest more than 25% of its total assets in non -investment grade rated fixed income securities. The Fund will not invest more than 15% of its total assets in restricted securities that are ineligible for resale under Rule 144A, all of which may be illiquid securities. These investment restrictions described above apply at the time of purchase, and the Fund will not be required to reduce a position due solely to market value fluctuations. Show less