NXG Cushing Fund Broadens Energy Mandate Starting Dec. 18

The board of NXG Cushing Midstream Energy Fund approved a wider set of investments that can count toward its 80% allocation requirement, along with a name change scheduled for Dec. 18, 2026. The fund will become The NXG Cushing Energy Infrastructure Fund and continue trading on the NYSE under the SRV ticker.

The current policy sets an 80% minimum for midstream energy investments. Starting Dec. 18, the same minimum will apply to energy infrastructure investments, measured against net assets and borrowings used for investment under normal market conditions.

The expanded category covers midstream and fuel infrastructure, as well as electricity and thermal-energy generation, transmission, distribution, storage and sales. It also includes distributed power generation and storage, including projects serving data centers, and related engineering, construction and equipment.

A company qualifies when at least 50% of its consolidated assets, income, sales or profits are committed to or derived from those activities. The fund’s Oct. 15 calculation placed energy infrastructure investments at 90% of net assets plus borrowings for investment purposes. It does not expect the policy change to require a shift in its investment approach or a portfolio rebalance.

The fund will remain non-diversified and concentrated in natural resources, with a focus on midstream energy companies. It will keep its limit of no more than 25% of total assets in energy master limited partnerships that qualify as publicly traded partnerships.

The investment objective, adviser and day-to-day portfolio management personnel will remain unchanged. Common shares will retain CUSIP 231631300, and shareholders do not need to take action. The new name and policy are scheduled to take effect Dec. 18.