Iimpawu, iingcebiso kunye nokulinganiselwa
Yintoni i-MLP?
Ukuthengiswa kwe-MLP njengesiqhelo esifanayo, kodwa-kuba kubambisana nomthetho-ithatha inzuzo yentela yobambiswano (oko kukuthi, akukho ntlawulo yombuso okanye irhafu yengeniso kwinqanaba lequmrhu). Abathengi bathengi "iiyunithi" zobudlelwane kunokuba babe nezabelo , kwaye zibizwa ngokuba "ngabangenayo" kunokuba "abanini-nxaxheba."
Ngenxa yokuba i-MLP ayinakho ukuhlawula irhafu yenkampani, inemali eninzi ekhoyo ukuze ixhase iimali zabo. Ukuququzelela njenge-MLP, iqumrhu kufuneka lifumane i-90% yengeniso yalo kwimisebenzi enxulumene nezibonelelo zendalo, iimpahla okanye i-estate. Ngenxa yoko, inani le-MLP lishishini lokukhula ngokukhawuleza - njengamapayipi kunye neendawo zokugcina - ezo nkampani zamandla ziye zahluma ngaphezu kweminyaka. Ubuninzi bemisebenzi ye-MLPs isekelwe eMntla Melika.
Ekubeni ama shishini aphantsi akhula ngokukhawuleza, abatyali-mali abanakulindela ukubaluleka okukhulu kwexesha elide. Nangona kunjalo, ukukhula okucothayo kulingana nokuzinza, oku kuthetha ukuba ii-MLPs-ngelixa zithengiswa kwiimarike zamasheya-zintengiso-zivame ukuba zincinci kunezinto ezibonakalayo zendalo. Esinye isizathu sokuba oku kungokuthi abaxhomekeke kwixabiso lentengo ukwenzela ukuveliswa kwemali. Kwakhona, abatyali-mali bangakwazi ukufumana izivuno ezikhangayo eziphezulu kunezo zikhoyo kwiindawo ezininzi zeemarike zamashishini.
Indlela yokuTyala imali kwi-MLPs
Abatyalomali bangazithenga ii-MLP zabo ngabanye basebenzisa i- akhawunti ye-brokerage , okanye banokukhetha iimali zokuvala ezivaliweyo okanye amanqaku athengiswa ngawo-exchange (ETNs). I-MLP nazo ziyafumaneka nge-fund ye-Alerian MLP yokuthengiselana-mali , okanye i-ETF (i-ticker: AMLP), enika ukufikelela okungafaniyo kweli candelo lemarike ngokutyalomali.
Ezinye zezona zininzi zi-MLP zi-Kinder Morgan Energy Partners (i-KMP), i-Enterprise Products Partners (EPD), iMagellan Midstream Partners (MMP), amaNxweme onke ama-American Pipeline (PAA) kunye ne-Energy Transfer Partners (ETP).
Qiniseka ukubonisana nomcebisi wakho weerhafu ngaphambi kokuba utyalomali kwi-MLP okanye nayiphi na isitya esenza imali kwi-MLPs. Abanikazi be-MLP ngamnye kufuneka bafake ifomu ekhethiweyo yerhafu eyaziwa njenge-K-1 ngonyaka, nangona oku akuyimfuneko nge-fund exchange-exchangeed fund, efana ne-Alerian MLP.
Ukubuyiselwa kweMLPs
Ngomhla ka-Matshi 31, 2014, i-Alerian MLP Index (AMZX) ivelise umlinganiselo weminyaka eli-10 ngonyaka wokubuya kwe-14.9%. Iingxowa-mali zangempela-mali, okanye ii-REIT , zibuyile i- 8.2% ngonyaka ngexesha elifanayo, ngelixa ukubuyiswa kwama- stock 's totality was 9.7%. Zomibini ii-REIT kunye nezixhobo ezisetyenziswayo zikhethwa ngabantu abathandayo abanomvuzo. I-Index ye-S & P 500, umlinganiselo obanzi wokusebenza kwi-stock market yemarike yase-United States, inanikelelo lentengo yonyaka ka-7.4% ngexesha elifanayo. Gcinani engqondweni, le ntlawulo ziyimbali kwaye azibonakali iziphumo ezizayo.
Ngaloo mhla, umvuno weklasi nganye ye-asethi yile ndlela ilandelayo: I-MLP, 5.7%; I-REIT, 4.0%; izibonelelo, 4.1%; I-S & P 500, 2.2%.
Mngcipheko weMLPs
I-MLP iyakwenza ngcono (ngokwemigangatho yexabiso lentengo) xa amazinga omdla ephantsi okanye ewa .
Xa amaxabiso aphakanyisiwe okanye aphakama , i-MLPs ngokubanzi ihambisa iintlawulo eziphantsi. Esinye sezizathu zokuba xa amaxabiso aphantsi, abatyali-mali bayaphuma kwiimpahla ezikhuselekileyo ukuze bafune ingeniso kwezinye iindawo zemarike, ezifana ne-MLPs Ngokuchaseneyo, xa amaxabiso aphezulu, abatyali-mali baya kubuyela kwi- US Treasury okanye enye ingozi ephantsi. utyalo mali.
I-MLP ijongene nomngcipheko wokulawulwa ngolu hlobo lokuba isakhiwo sazo sinqunywe yikhowudi yentlawulo. Ukuba ikhowudi yentlawulo yayingashintsha ngendlela engafanelekanga, ukukhupha ii-MLP zezinye zeentlawulo zabo zerhafu, amaxabiso abo azakuchaphazeleka. Ubungakanani obu buphantsi, kodwa luqwalaselwa.
I-MLP kwiNgxowa-mali
Ngokomlando, ii-MLP zinobudlelwane obuphantsi kweembali kunye nezinye iindawo zemarike-oko kuthetha ukuba bathambekele ekutshintshelweni kwindlela yokuzimela ngaphandle kokubambisana nokusebenza kwemarike ebanzi.
Ngenxa yoko, ukubambelela kwe-MLP kwandisa ulwahlulo lweepotfoliyo kwiimpahla ezingahambelaniyo-oko kukuthi, ixabiso elingenakufuneka lihambe kunye nabanye.