CEM
ClearBridge MLP and Midstream Fund Inc.
Overall Morningstar Rating
Rating Category: Energy Limited Partnership
The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics.
Morningstar Style Box
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| Value | Blend | Growth | ||
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Source: Morningstar®. The style box reveals a fund's investment style. For equity funds, the vertical axis shows the market capitalization of the long stocks owned, and the horizontal axis shows the investment style (value, blend, or growth). For fixed income funds, the vertical axis shows the credit quality based on credit ratings and the horizontal axis shows interest-rate sensitivity as measured by effective duration. Placement is determined by fund portfolio holding figures most recently entered into Morningstar's database and corresponding market conditions. Shaded areas show the past 3 years of quarterly data. Past performance does not guarantee future results.
Historical Morningstar Ratings
| Years | 3 |
| Ratings | |
| Number of Funds In Category | 9 |
| Years | 5 |
| Ratings | |
| Number of Funds In Category | 9 |
| Years | 10 |
| Ratings | |
| Number of Funds In Category | 9 |
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Effective September 9, 2024, this fund merged into ClearBridge Energy Midstream Opportunity Fund Inc. (EMO).
Overview
- Fund Description
- Meet Your Manager
Fund Description
- Provides an efficient, single investment for accessing a portfolio of energy-related master limited partnerships (MLPs) and midstream entities
- Seeks a high level of total return with an emphasis on cash distributions
- Targets energy-related midstream entities and MLPs with long-lived assets and predictable cash flows
This Fund completed a1-for-5 reverse stock split on July 28, 2020 for common stockholders of record as of the close of business on July 27, 2020. As a result of the reverse stock split, every five outstanding shares of common stock were automatically converted into one share of common stock.
Meet Your Manager
ClearBridge Investments
ClearBridge Investments is a well-established global investment manager focusing on proprietary research and fundamental investing. With over 60 years of experience building portfolios for clients seeking income solutions, high active share or low-volatility, long-tenured portfolio managers provide strong leadership in a centralized investment structure.
Performance
- Average Annual Total Returns
- Calendar Year Returns
- Cumulative Total Returns
- Risk Measures
Average Annual Total Returns
Calendar Year Returns
Cumulative Total Returns
Distributions & Tax
- Distributions
- Tax Information
Distributions
Annually, a fund must distribute all realized capital gains net of realized losses, so the fund will not be subject to an entity level income tax. A fund’s capital gain distribution in a particular year may be a result of the disposition of holdings that appreciated in value during prior years. Thus, while the fund may gain or lose value over the course of a year, a capital gain distribution paid by the fund may not be indicative of current performance of the fund.
The distributable amount of net capital gains are paid on a per-share basis to all investors who hold shares of the fund on the record date of the distribution and are recognized by the shareholder for tax purposes as of the ex-date of the distribution, regardless of when the gains or losses arose in the fund. Net gains on holdings held long term by the fund would be distributed to shareholders as a long-term capital gain distribution no matter how long the shareholder has owned shares in the fund.
Refer to the fund’s annual report for specific information regarding distributions.
Tax Information
Tax Information
Federal ID Number 27-2282398
Distributions per Share ($)
- 2024
- 2023
- 2022
- 2021
- 2020
- 2019
- 2018
- 2017
- 2016
- 2015
- 2014
- 2013
Pricing
- Pricing
- Premium/Discount
Pricing
Pricing History Chart
- 1 Month
- 3 Months
- 6 Months
- YTD
- 1 Year
- 3 Years
- 5 Years
- Since Inception
November 2025
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November 2025
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Chart
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Historical Data - Daily Fund Prices
- 1 Month
- 3 Months
- 6 Months
- YTD
- 1 Year
- 3 Years
- 5 Years
- Since Inception
November 2025
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November 2025
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Historical Pricing Results From 08/06/2024 To 09/06/2024
| Date | NAV | NAV Change | NAV Change (%) | Market Price | Market Price Change | Market Price Change (%) | Avg. of Market Price vs. NAV at Close |
|---|---|---|---|---|---|---|---|
| 09/06/2024 | $51.95 | $-0.54 | -1.03% | $44.64 | $-0.04 | -0.09% | -14.07% |
| 09/05/2024 | $52.49 | $0.28 | 0.54% | $44.68 | $0.16 | 0.36% | -14.88% |
| 09/04/2024 | $52.21 | $-0.44 | -0.84% | $44.52 | $-0.26 | -0.58% | -14.73% |
| 09/03/2024 | $52.65 | $-0.42 | -0.79% | $44.78 | $-0.58 | -1.28% | -14.95% |
| 09/02/2024 | $53.07 | $0.51 | 0.97% | $45.36 | $0.48 | 1.07% | -14.53% |
| 08/30/2024 | $53.07 | $0.51 | 0.97% | $45.36 | $0.48 | 1.07% | -14.53% |
| 08/29/2024 | $52.56 | $0.73 | 1.41% | $44.88 | $0.80 | 1.81% | -14.61% |
| 08/28/2024 | $51.83 | $-0.42 | -0.80% | $44.08 | $-0.19 | -0.43% | -14.95% |
| 08/27/2024 | $52.25 | $-0.43 | -0.82% | $44.27 | $-0.19 | -0.43% | -15.27% |
| 08/26/2024 | $52.68 | $0.26 | 0.50% | $44.46 | $0.18 | 0.41% | -15.60% |
| 08/23/2024 | $52.42 | $0.53 | 1.02% | $44.28 | $0.36 | 0.82% | -15.53% |
| 08/22/2024 | $51.89 | $0.13 | 0.25% | $43.92 | $-0.14 | -0.32% | -15.36% |
| 08/21/2024 | $51.76 | $0.06 | 0.12% | $44.06 | $0.09 | 0.20% | -14.88% |
| 08/20/2024 | $51.70 | $-0.90 | -1.71% | $43.97 | $-0.45 | -1.01% | -14.95% |
| 08/19/2024 | $52.60 | $0.44 | 0.84% | $44.42 | $0.00 | 0.00% | -15.55% |
| 08/16/2024 | $52.16 | $0.57 | 1.10% | $44.42 | $0.29 | 0.66% | -14.84% |
| 08/15/2024 | $51.59 | $0.46 | 0.90% | $44.13 | $0.65 | 1.49% | -14.46% |
| 08/14/2024 | $51.13 | $0.05 | 0.10% | $43.48 | $-0.60 | -1.36% | -14.96% |
| 08/13/2024 | $51.08 | $-0.06 | -0.12% | $44.08 | $-0.45 | -1.01% | -13.70% |
| 08/12/2024 | $51.14 | $-0.42 | -0.81% | $44.53 | $0.60 | 1.37% | -12.93% |
| 08/09/2024 | $51.56 | $-0.53 | -1.02% | $43.93 | $-0.15 | -0.34% | -14.80% |
| 08/08/2024 | $52.09 | $1.07 | 2.10% | $44.08 | $0.22 | 0.50% | -15.38% |
| 08/07/2024 | $51.02 | $-0.06 | -0.12% | $43.86 | $0.35 | 0.80% | -14.03% |
| 08/06/2024 | $51.08 | $1.44 | 2.90% | $43.51 | $1.82 | 4.37% | -14.82% |
Premium/Discount
November 2025
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November 2025
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Press Releases
Documents
Regulatory Documents
Regulatory Documents
Policy and Procedures - Audit Committee Charter
Policy and Procedures - Compensation Committee Charter
Policy and Procedures - Nominating Committee Charter February 2024
Risks
What Are the Risks?
All investments involve risks, including possible loss of principal. Investments in energy-related master limited partnerships (MLPs) and midstream entities are subject to risks of declines in energy and commodity prices, decreases in energy demand, adverse weather conditions, natural or other disasters, changes in government regulation, and changes in tax laws. Leverage increases the volatility of investment returns and subjects investments to magnified losses and a decline in value. Derivative instruments can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance. These and other risks are discussed in the fund’s prospectus.
MLP cash distributions are generally tax deferred. Non-cash expenses, such as depreciation or depletion, usually offset income derived from an MLP’s operations. To the extent that these expenses exceed income, cash distributions are considered return of capital under tax law. As such, they are not taxed when received. Instead, the distribution, in the form of return of capital, reduces a unit holder’s cost basis. This adjusted cost basis, in turn, results in a higher capital gain or lower capital loss when the units are sold. Of course, there can be no assurances that distributions from an MLP will be tax deferred. The fund will be treated as a regular corporation for U.S. federal income tax purposes and, as a result, unlike most investment companies, is subject to corporate income tax to the extent the fund recognizes taxable income. Any taxes paid by the fund will reduce the amount available to pay distributions to investors, and therefore investors in the fund will likely receive lower distributions than if they invested directly in MLPs or midstream entities.
Important Information
The Closed-End Funds are not sold or distributed by Franklin Distributors, LLC. (FD, LLC) or any Franklin Templeton affiliated companies. Unlike open-end funds, shares are not continually offered. Like other public companies, closed-end funds have a one-time initial public offering, and once their shares are first issued, are generally bought and sold through non-affiliated broker/dealers and trade on nationally recognized stock exchanges. Share prices will fluctuate with market conditions and, at the time of sale, may be worth more or less than your original investment. Shares of exchange-traded closed-end funds may trade at a discount or premium to their original offering price, and often trade at a discount to their net asset value. Investment return, market price and net asset value will fluctuate with changes in market conditions. The Funds are subject to investment risks, including the possible loss of principal invested.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
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Performance data quoted represents past performance, which does not guarantee future results.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
The Alerian MLP Index is a composite of the 50 most prominent energy master limited partnerships (MLPs) and is calculated using a float-adjusted, capitalization-weighted methodology.
Source: Alerian.
All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Footnotes
Based on the fund’s Net Asset Value (NAV)