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NXG Cushing Midstream Energy Fund shareholders approved a new investment advisory agreement with Cushing Asset…
SRV-RWNXG Cushing Midstream Energy Fund
NXG Cushing Midstream Energy Fund shareholders approved a new investment advisory agreement with Cushing Asset Management, LP following a change in control of the Adviser. On July 10, 2026, NXG Cushing, LLC acquired an interest in the Adviser from founder Jerry V. Swank, resulting in NXG Cushing owning 62% and replacing Swank Capital, LLC as general partner. This transaction triggered an assignment of the previous advisory agreement, necessitating the new contract. The New Advisory Agreement maintains an annual investment-advisory fee of 1.25% of Average Weekly Managed Assets, with a 0.25% fee waiver in effect through February 1, 2027. Additionally, Brian R. Bruce and John H. Alban were elected as Class I Trustees. The Fund is a closed-end fund focused on the midstream energy sector.