Tortoise Capital Releases Unaudited Financial Data for Closed-End Funds TYG and TEAF
Overland Park, KS – April 1, 2025
Tortoise Capital, a leading independent investment manager, announced today the unaudited balance sheet information and asset coverage ratio updates for its closed-end funds, Tortoise Energy Infrastructure Corp. (TYG) and Tortoise Energy Africa Fund (TEAF).
Tortoise Energy Infrastructure Corp. (TYG)
As of March 31, 2025, TYG reported approximately $1.0 billion in unaudited total assets and an unaudited net asset value of $822.4 million. This translates to a net asset value per share of $47.72.
Tortoise Energy Africa Fund (TEAF)
TEAF reported unaudited total assets of approximately $500.0 million, with an unaudited net asset value of $385.4 million, equating to a net asset value per share of $20.43.
Asset Coverage Ratios
Both TYG and TEAF have maintained strong asset coverage ratios, which provide investors with an indication of the funds’ ability to meet their obligations. As of March 31, 2025, TYG’s asset coverage ratio was 1.28x, while TEAF’s was 1.39x.
Impact on Individual Investors
For individual investors holding shares in TYG or TEAF, these updates may influence their decision to buy, sell, or hold onto their investments. A strong net asset value per share and a solid asset coverage ratio suggest a stable investment, which may encourage investors to maintain their positions. Conversely, a decline in net asset value per share or a weakening asset coverage ratio could potentially lead investors to reconsider their holdings.
Impact on the World
On a larger scale, the financial performance of funds like TYG and TEAF can impact the energy infrastructure sector and the broader economy. Strong performance in these funds can boost investor confidence and encourage further investment in the sector, potentially leading to increased economic growth. Conversely, weak performance could deter investors and negatively impact the sector and the economy as a whole.
Conclusion
Tortoise Capital’s recent financial updates for TYG and TEAF provide valuable insights into the performance of these closed-end funds. While the information is unaudited, it offers a glimpse into the funds’ financial health and stability. Individual investors and the broader market will closely watch these metrics to gauge the impact on their investments and the energy infrastructure sector as a whole.
- TYG reported unaudited total assets of $1.0 billion and a net asset value of $822.4 million
- TEAF reported unaudited total assets of $500.0 million and a net asset value of $385.4 million
- TYG’s asset coverage ratio was 1.28x, and TEAF’s was 1.39x
- These updates may influence individual investors’ decisions to buy, sell, or hold onto their investments
- Strong performance in these funds can boost investor confidence and encourage further investment in the energy infrastructure sector
