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Kayne Anderson NextGen Energy & Infrastructure, Inc.


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 9/30/20

1) Paid on 9/30/20 (ex-date 9/21/20). (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


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 through the Dividend Reinvestment Plan (DRIP).

Growth of Hypothetical $10,000 Investment3

3) This chart illustrates the growth of a hypothetical $10,000 investment in the fund’s common shares beginning on the inception date with all distributions reinvested through the Dividend Reinvestment Plan (DRIP). Ending values as of the dates shown in the chart.

Performance reflects the deduction of management fees and expenses but does not reflect transaction fees or broker commissions. Performance data quoted represent past performance; past performance does not guarantee 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 (%)

Top 10 Holdings

For the full portfolio, please see the Schedule of Investments in our most recent quarterly or annual report

Portfolio holdings are subject to change without notice. The mention of specific securities is not a recommendation or solicitation for any person to buy, sell or hold any particular security.  Top ten holdings are determined on the basis of the value of individual securities held. The fund may also hold positions in other types of securities issued by the companies listed above. You can obtain a complete listing of holdings by viewing our quarterly or annual report for the most recent completed period.


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.

KMF pays cash distributions to common stockholders at a rate that may be adjusted from time to time. 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 since inception.

Information on Tax Character of Distributions

4) This estimate is based on our anticipated earnings and profits for fiscal 2020. The final determination of the tax character of distributions will be made in early 2021 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


Independent Directors

Interested Directors

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

This material is provided for informational purposes only. This material shall 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. Performance data quoted represent past performance and are for the stated time period only, 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 which 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 There can be no assurance that the fund’s investment objective will be attained.

Nothing contained in this communication is intended to recommend any investment policy or investment strategy or take into account the specific objectives or circumstances of any investor. Please consult with your investment, tax or legal adviser regarding your individual circumstances prior to investing.


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