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Tortoise Sustainable and Social Impact Term Fund - TEAF STOCK NEWS

Welcome to our dedicated page for Tortoise Sustainable and Social Impact Term Fund news (Ticker: TEAF), a resource for investors and traders seeking the latest updates and insights on Tortoise Sustainable and Social Impact Term Fund stock.

Ecofin Sustainable and Social Impact Term Fund (TEAF), managed by TortoiseEcofin, is a U.S.-based, non-diversified, closed-end management investment company. Its primary goal is to offer shareholders a high level of total return, with a strong focus on current distributions. TortoiseEcofin specializes in essential assets and income, investing in the infrastructure that supports society's essential needs, from traditional energy to sustainable solutions.

Core Business
TEAF invests in a wide range of essential assets and services. The fund’s portfolio includes investments across the energy value chain, sustainable infrastructure (such as wind, solar, and water infrastructure), and credit investments. These investments are designed to meet core societal needs and provide diversification and steady income for investors.

Recent Achievements
In August 2023, Tortoise and the Board announced conditional tender offers as part of their discount management program. This involved tendering 5% of the fund's outstanding shares at 98% of the net asset value (NAV) due to the shares trading at a significant discount. This tender offer is expected to commence in October 2023. Further, TortoiseEcofin announced regular quarterly rebalancing of its indices in September 2023, which included notable changes to several of its indices.

Current Projects
TEAF is actively engaged in sustainable and social impact projects, including direct lending to social infrastructure projects. These investments support education, senior living, and the transition to cleaner energy, thereby addressing crucial needs in our communities.

Financial Condition
TEAF aims to offer a high level of total return with an emphasis on current distributions. The fund is committed to managing its portfolio effectively to balance risk and return, with a focus on generating income for its shareholders.

Partnerships
The fund benefits from TortoiseEcofin’s extensive expertise in energy and infrastructure investments. TortoiseEcofin has over 20 years of experience in the energy sector and is well-positioned to lead in the global energy transition.

Products and Services
TEAF provides a variety of investment vehicles aimed at meeting the evolving needs of its clients, including traditional energy investments, sustainable infrastructure projects, and social impact financing. The fund's diversified portfolio is designed to deliver steady income and growth opportunities.

For more information, visit the TortoiseEcofin website at www.tortoiseecofin.com.

Latest News
- August 11, 2023: Announcement of conditional tender offers.
- September 8, 2023: Updates on quarterly index rebalancing.
- February 16, 2024: Release of corrected Tortoise Energy Infrastructure Total Return Fund 2023 annual report.

Rhea-AI Summary

The Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF) provided an update on its unaudited financials as of November 30, 2021. The fund reported total assets of approximately $258.0 million and a net asset value of $232.6 million, translating to $17.24 per share. The asset coverage ratio for senior securities was notably high at 1,177%. The fund holds 13.49 million common shares outstanding and a diverse investment portfolio with total investments of $252.3 million.

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Rhea-AI Summary

The Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF) announced strong returns from the monetization of private debt investments in July. Notably, the bonds from PureCycle Technologies, a polypropylene recycling facility, were sold at a profit, achieving a 16.0% internal rate of return. MaST Community Charter School III's bonds were called, providing a 10.4% return as the school accessed public markets. The fund realized approximately $12M, reducing private investment allocation from 51% to 47%. TEAF emphasizes ongoing investment in sustainable equities as market valuations present compelling opportunities.

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Tortoise Essential Assets Income Term Fund (NYSE:TEAF) will be renamed Ecofin Sustainable and Social Impact Term Fund effective June 30, 2021. This change reflects the fund's commitment to sustainable and social impact investments, with 87% allocation in these areas, including solar, wind, and assisted living. The fund’s portfolio transitions have increased allocations in sustainable infrastructure and social impact while decreasing energy infrastructure. The CEO emphasized that this rebranding aligns with the fund's growth objectives and could enhance trading value.

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FAQ

What is the current stock price of Tortoise Sustainable and Social Impact Term Fund (TEAF)?

The current stock price of Tortoise Sustainable and Social Impact Term Fund (TEAF) is $13.19 as of October 4, 2024.

What is the market cap of Tortoise Sustainable and Social Impact Term Fund (TEAF)?

The market cap of Tortoise Sustainable and Social Impact Term Fund (TEAF) is approximately 177.0M.

What is the primary goal of Ecofin Sustainable and Social Impact Term Fund (TEAF)?

The primary goal of TEAF is to provide shareholders with a high level of total return, with an emphasis on current distributions.

What types of investments does TEAF focus on?

TEAF focuses on essential assets and services, including traditional energy infrastructure, sustainable infrastructure like wind and solar, and social impact projects such as education and senior living.

Who manages TEAF?

TEAF is managed by TortoiseEcofin, a company with extensive expertise in energy and infrastructure investing.

What recent achievements has TEAF announced?

Recent achievements include the announcement of conditional tender offers in August 2023 and updates on quarterly index rebalancing in September 2023.

What are the current projects TEAF is involved in?

TEAF is involved in sustainable and social impact projects, including direct lending to social infrastructure projects that support education and senior living.

How does TEAF aim to generate returns for its shareholders?

TEAF aims to generate returns through a diversified portfolio of investments in essential assets and services, focusing on both income and growth opportunities.

Is TEAF a diversified fund?

No, TEAF is a non-diversified, closed-end management investment company.

Where can I find more information about TEAF?

More information can be found on the TortoiseEcofin website at www.tortoiseecofin.com.

When will the tender offers announced in August 2023 commence?

The tender offers are expected to commence on or around October 2, 2023.

What is TortoiseEcofin's expertise?

TortoiseEcofin has over 20 years of experience in energy and infrastructure investing, focusing on traditional energy, sustainable infrastructure, and social impact projects.

Tortoise Sustainable and Social Impact Term Fund

NYSE:TEAF

TEAF Rankings

TEAF Stock Data

177.00M
13.49M
0.14%
35.23%
0.01%
Asset Management
Financial Services
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United States of America
Overland Park