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Paul McPheeters From Komfie Manalo, Opalesque Asia:

A long/short portfolio is the best way to exploit the opportunities in the energy master limited partnerships (MLPs) sector which remains an "inefficient market" but provides huge income possibilities for active managers, says Paul McPheeters of Atlantic Trust, a subsidiary of Invesco Ltd., a firm that manages approximately $17bn in assets.

As one of the participants in the latest Opalesque Colorado Roundtable, McPheeters explained that he leads a team at Atlantic that manages at least $500m in energy MLPs assets including both long-only and long/short. He described the growth in the energy MLP sector as similar to the growth of the REIT industry although the MLP industry is behind 10 and 20 years in terms of maturity compared to REIT structure.

When asked by Opalesque CEO and Colorado Roundtable facilitator Matthias Knab about the opportunities, the Atlantic executive added that energy MLPs space has great fundamental trends driving it but it remains an inefficient market and these inefficiencies provide great opportunity for active managers to reap profits.

Energy master limited partnerships are publicly traded limited partnerships primarily engaged in the midstream portion of the energy chain......................

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