UMI actively invests in a narrow selection of about 20 to 25 believed to be high quality midstream energy companies that pay distributions. The fund adviser applies a bottom-up fundamental approach to energy infrastructure companies focused on transportation, storage, gathering and processing. Key metrics include income, growth of income, distribution coverage and leverage. The fund adviser also screens for persistent cash flow generation by evaluating contract quality and direct-commodity price exposure. In addition, ESG criteria are integrated in the funds research. UMI primarily invests in US and Canadian companies of any market-cap, with Canadian securities generally taking up 30% to 40% of the funds holdings. Investors should note that the fund may hold both energy infrastructure MLPs and C-corporations, which are taxed differently.