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Advisors Disciplined Trust 794 focuses on MLPs, energy companies
By Toni Weeks
San Diego, Jan. 12 - Advisors Disciplined Trust 794 is offering units of its SteelPath/Alerian MLP and Income Portfolio, Series 2012-1, according to an S-6 amendment filed with the Securities and Exchange Commission.
The depositor is Monument, Colo.-based Advisors Asset Management, Inc.
The trust seeks high current income with capital appreciation as a secondary objective by investing in a diversified portfolio primarily consisting of stocks of master limited partnerships, income or royalty trusts and similar energy or energy-infrastructure companies; managers of MLPs, trusts and companies; and closed-end investment companies that invest in MLPs, income or royalty trusts or similar energy companies.
Portfolio consultant SteelPath Fund Advisors LLC selected the portfolio based on, among other things, Alerian benchmarks, data sets and analytics. The portfolio focuses on companies primarily operating in the United States that are primarily engaged in providing logistical and infrastructure needs to the energy industry and which earn margins through fee or fee-like contracts for the gathering, processing, transportation or storage of crude oil, natural gas, natural gas liquids or refined products.
On the trust's inception date, Jan. 12, $148,635 of contracts to purchase underlying securities comprised the trust. The 15,014 units each have a public offering price of $10.00 and a net asset value of $9.555. The estimated net annual distribution per unit is $0.6385 for the first year and $0.6260 for the second year.
The units have a maximum sales fee of 3.95%, consisting of a 1% initial sales fee, a 2.45% deferred sales fee and a 0.5% creation and development fee. The fee may be reduced on a sliding scale to 2.45% depending on the number of units purchased.
The trust has a termination date of Jan. 9, 2014.
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