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Kayne Anderson NextGen Energy & Infrastructure, Inc.

Overview

Investment Objective

To provide a high level of total return with an emphasis on making cash distributions. KMF intends to achieve its investment objective by investing at least 80% of its total assets in securities of Energy Companies and Infrastructure Companies.

† As of 10/31/21

1) Paid on 10/8/21 (ex-date 10/1/21). (See Distributions section below for more information).

Investment Highlights

Opportunistic Infrastructure Fund with a Unique Mix of Energy Infrastructure Investments

  • Investments focused on “NextGen” Energy Companies and Infrastructure Companies that are meaningfully participating in, or benefitting from, the “Energy Transition” mega-trend
  • Energy Transition is the global shift to a more sustainable mix of lower carbon and renewable energy sources aimed at reducing emissions of carbon dioxide and other greenhouse gasses

Compelling Investment Attributes

  • Portfolio comprised of a diversified mix of energy infrastructure companies, including renewable infrastructure, natural gas midstream, and utilities
  • Renewable infrastructure companies and utilities have many attractive attributes, including lower volatility and correlation to the broader equity markets, contracted/regulated cash flows, multi-year growth visibility, and attractive ESG characteristics

Attractive Fund Structure

  • Simplified tax reporting with a single Form 1099 (no K-1)
  • Suitable for IRAs, foundations, and tax-exempt accounts (no UBTI)
  • Regulated Investment Company (RIC) and does not pay income taxes at the fund level

Daily Pricing


Performance

Quarterly Performance

*Net Asset Return is defined as the change in net asset value per share plus cash distributions paid during the period (assuming reinvestment through our dividend reinvestment plan).

†Market Return is defined as the change in share price plus cash distributions paid during the period (assuming reinvestment through our dividend reinvestment plan).

+KMF’s Composite Energy Infrastructure Index is comprised of a 50% weighting to the midstream sector, a 35% weighting to the renewable infrastructure sector, and a 15% weighting to the utility sector. Returns for each period are total returns (assuming reinvestment of dividends). The sub-sector allocations for this composite index were established by Kayne Anderson at the beginning of fiscal 2021 and are expected to change on an annual basis. Please see footnote ⁺ for a description of the benchmarks used for each energy  infrastructure sub-sector.

‡Portfolio returns reflect KMF’s asset level returns for each sub-sector based on KMF’s portfolio holdings. Asset level return is calculated as the total return (before leverage and expenses) of KMF’s portfolio holdings divided by the market value of KMF’s holdings as of the beginning of the quarter.

++The benchmark for the midstream sector is the Alerian Midstream Energy Total Return Index (AMNAX). The benchmark for the renewable infrastructure sector is a composite total return for 39 domestic and international renewable infrastructure companies (calculated on a market-cap weighted basis with individual constituents capped at a 10% weighting). The benchmark for the utilities sector is the Utilities Select Sector SPDR (XLU), which is an ETF linked to the Utilities Select Sector Index (IXU), a sub-set of the S&P 500.

Share Price and NAV History

Price/NAV History Table

Premium/Discount to NAV

Total Return (NAV plus distributions)

Period Returns (Not Annualized)

Calendar Year Returns

2) Assumes that distributions have been reinvested at the Dividend Reinvestment Plan (DRIP) price.

Growth of Hypothetical $10,000 Investment3

3) The growth of $10,000 chart is a hypothetical illustration based upon the performance of the fund’s common shares since inception. Ending values as of the dates shown in the chart. Assumes reinvestment of distributions at the DRIP price, the deduction of management fees, operating expenses, and all other fund expenses but does not reflect transaction fees or broker commissions. Current performance may be lower or higher than the performance data quoted.


Returns reflect the deduction of management fees and expenses but does not reflect transaction fees or broker commissions. Performance data quoted represents past performance and is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than that shown based on market fluctuations from the end of the reported period.


Portfolio

Portfolio (%)

Top 10 Holdings

*Includes ownership of Brookfield Renewable Partners, L.P (BEP) and Brookfield Renewable Corporation (BEPC). **Includes ownership of Plains GP Holdings, L.P. (PAGP) and Plains AAP, L.P. (PAGP-AAP).

Click here for the most recent Schedule of Investments

Reflected as a percentage of long-term investments. Portfolio holdings and/or sector allocations are subject to change at any time, without notice, and are not recommendations to buy or sell any security. You can obtain a complete listing of holdings by viewing our quarterly or annual report for the most recently completed period.


Distributions

Annual Distributions per Calendar Year

* Includes an initial partial distribution.
** Includes special distribution. See press release dated 6/25/15.
*** Based on year-to-date distributions paid or declared.

The amount of distributions is not guaranteed and may vary depending on a number of factors, including changes in portfolio holdings and market conditions.

KMF Distribution History

KYE Distribution History

Tax Character of Distributions

Our distributions are generally taxable as ordinary income (a portion of which may be qualified dividends) or capital gains. Distributions of our ordinary income plus net short-term capital gains in excess of net long-term capital losses will be taxable as ordinary income to the extent of our current or accumulated earnings and profits. If our distributions exceed our current or accumulated earnings and profits, the distributions will be treated as a return of capital to our common stockholders to the extent of each stockholder’s basis in our common stock, and then the amount distributed in excess of such stockholder’s basis would be taxed as a capital gain. Because the cash distributions received from the MLPs in our portfolio are expected to exceed the earnings and profits associated with owning such MLPs, a portion of our distributions may be paid from sources other than our current and accumulated earnings and profits. Common stockholders will receive a Form 1099-DIV from us, sample forms for each year can be found within the Tax Information section of this page. This information does not constitute, and should not be construed as, tax, legal, investment, or other professional advice and cannot be used or relied upon for the purpose of avoiding tax penalties.

The table below summarizes the tax character of our distributions for the past ten years.

Information on Tax Character of Distributions

4) This estimate is based on our anticipated earnings and profits for fiscal 2021. The final determination of the tax character of distributions will be made in early 2022 and may differ substantially from this preliminary information.






Tax Information

  • Sample Forms 1099-DIV
  • Form 8937
  • Section 19(a) Notifications

Section 19(a) Notifications of Sources of Distributions


Governance

Independent Directors

Interested Directors

  • Jim Baker, Chairman of the Board of Directors, President, and Chief Executive Officer

*Role as the KYN and KMF lead independent director effective April 2, 2020.


Performance data quoted represent past performance as of the stated date herein. Past performance is not a guarantee of future results. Current performance may be lower or higher than that shown based on market fluctuations from the end of the reported period. Closed-end funds, unlike open-end funds, are not continuously offered. After the initial public offering, shares are sold on the open market through a stock exchange. As with any other stock, total return and market value will fluctuate so that an investment, when sold, may be worth more or less than its original cost. Shares of closed-end funds frequently trade at a market price that is below their net asset value.

All investments involve risk, including possible loss of principal. An investment in the fund could suffer loss. The fund’s concentration of investments in the energy industry subjects it to risks, including the risks of declines in energy and commodity prices, decreases in energy demand, adverse weather conditions, natural or other disasters, changes in government regulation, and changes in tax laws. Leverage creates risks that may adversely affect return, including the likelihood of greater volatility of net asset value and market price of common shares and fluctuations in dividend rates on any preferred shares, and increases a shareholder’s risk of loss. Before investing in the fund, you should consider the investment objective, risks, charges, and expenses of the fund, which, together with other important information, are included in the fund’s most recent prospectus and other filings with the SEC, available here or at http://www.sec.gov. There can be no assurance that the fund’s investment objective will be attained.

This site is provided for informational purposes only and does not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer or sale is not permitted. Nothing contained on this site constitutes tax, legal or investment advice. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation.

NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE

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