Overview
as of 6/30/10
Symbol
KYN
Exchange
NYSE
Inception Date
9/28/2004
NAV updates1
Thursdays &
month end
Total Assets
$2,235 million
Leverage
Quarterly Distribution2 ($/share)
$0.48
Objective
KYN is a closed-end fund that invests principally in equity securities of energy-related master limited partnerships (MLPs). KYN’s objective is to obtain high after tax total returns for its shareholders. MLPs are publicly traded limited partnerships. Energy-related MLPs own domestic infrastructure assets that are used in the gathering, processing, transportation, storage, refining and distribution of energy-related commodities.
 
Investment Merits
MLP Sector Opportunity
MLPs provide steady distributions with attractive growth profiles. MLPs are expanding their asset bases to meet growing needs for energy infrastructure in the U.S.
Attractive Fund Structure
– KYN issues a Form 1099 (as opposed to K-1s issued by MLPs).
– Suitable for IRAs, foundations and tax-exempt accounts, because unlike direct holdings in MLPs,   KYN does not generate unrelated business taxable income (UBTI)
Access to Private Investments
KYN provides access to private investment opportunities not available to retail investors