FS Energy Total Return Fund

XFECX

Fund:

Closed-end interval fund

Investment objectives

Generate an attractive total return consisting of current income and capital appreciation

Overview

FS Energy Total Return Fund is a continuously offered, non-traded closed-end fund operating as an interval fund.

Adviser

FS Energy Advisor, LLC
An affiliate of FS Investments

Sub-adviser

Magnetar Asset Management, LLC


Fund information updated [date]

Daily NAV $0.00
Daily NAV change ($) $0.00
Daily NAV change (%) -
Distribution rate (at NAV) -


View Pricing Disclosure For Footnotes 123
1FS Energy Total Return Fund's NAV per common share as of the date indicated is the NAV determined by FS Energy Total Return Fund for purposes of complying with the requirements of Section 23(b) of the Investment Company Act of 1940, as amended, and has not been approved by FS Energy Total Return Fund’s board of trustees. FS Energy Total Return Fund’s NAV per common share may increase or decrease in the future, and any such change may be material.
2The public offering price for Class C shares of FS Energy Total Return Fund is equal to NAV. Class C shares are also subject to a monthly shareholder servicing fee at an annual rate of up to 0.25% of the average daily net assets of FS Energy Total Return Fund attributable to the Class C shares and a monthly distribution fee at an annual rate equal to 0.75% of the average daily net assets attributable to Class C shares. Class C shareholders may also be subject to a contingent deferred sales charge on shares redeemed during the first 365 days after their purchase. See FS Energy Total Return Fund’s prospectus for additional information regarding applicable fees and expenses.
3The annualized distribution rate shown is expressed as a percentage equal to the projected annualized distribution amount per share (which is calculated by annualizing the most recent quarterly cash distribution per share as of the date indicated, without compounding), divided by the net asset value per share of Class C shares as of the date indicated. The annualized distribution rate shown may be rounded. The payment of future distributions on FS Energy Total Return Fund’s common shares is subject to the discretion of FS Energy Total Return Fund’s board of trustees and applicable legal restrictions and, therefore, there can be no assurance as to the amount or timing of any such future distributions. The determination of the tax attributes of FS Energy Total Return Fund’s distributions is made annually at the end of FS Energy Total Return Fund’s fiscal year, and a determination made on an interim basis may not be representative of the actual tax attributes of FS Energy Total Return Fund’s distributions for a full year. The actual tax characteristics of distributions to shareholders are reported to shareholders annually on Form 1099-DIV.

Key facts

Ticker
Min. initial investment 0.00
Total assets (as of 12/31/2016) -
Distributions
CUSIP
Sponsor commitment -
Net expense ratio 4 0.00%
Share class inception date 12/31/2016
Share repurchase program
Gross expense ratio 0.00%
View key facts disclosure for Footnotes 12345
1Any minimum initial investment requirement may be waived in FS Energy Total Return Fund's sole discretion.
2The sponsor commitment represents the aggregate investments in FS Energy Total Return Fund made by individuals and entities affiliated with FS Investments and Magnetar Capital Partners LP, including members of FS Energy Total Return Fund’s board of trustees.
3Any repurchases will be at NAV.
4The estimated expense ratio for Class C shares for year 1 is 3.56%. The calculation is a percentage of net assets for year 1 and is based on the expense limitation in effect for such period. The Fund’s actual expense ratio may be different that the estimate above and the expense limitation may be different in future years.
5The payment of distributions on FS Energy Total Return Fund’s common shares is subject to the discretion of FS Energy Total Return Fund’s board of trustees and applicable legal restrictions and, therefore, there can be no assurance as to the amount or timing of any such distributions.
View risk factors disclosure

Investing in the Fund involves risks, including the risk that a shareholder may receive little or no return on their investment or that a Shareholder may lose part or all of its investment. Below is a summary of some of the principal risks of investing in the Fund. The following is only a summary of certain risks of investing in the Fund. For a more complete discussion of the risks of investment in the Fund, see the Fund’s prospectus including the risk factors set forth under the heading entitled “Types of Investments and Related Risks,” before deciding to invest in the Fund.

Risks related to the Fund’s investments include risks relating to:

  • investments in Natural Resource Companies, master limited partnerships (MLPs), royalty trusts, equity securities (including dividend-paying securities, private investment in public equity transactions and securities of smaller capitalization companies), debt instruments, high-yield instruments and U.S. government debt securities;
  • energy commodity prices and the volume of, and demand for, energy commodities;
  • the highly cyclical nature of the natural resource and energy sectors;
  • the depletion of commodity reserves or overstatement of the quantities of Natural Resource Company reserves;
  • changes in the regulatory environment that affect the profitability of Natural Resource Companies;
  • fluctuations of interest rates and the economic impact on the Fund’s fixed income investments;
  • investments in illiquid and restricted securities;
  • predicting future commodity prices;
  • the Fund’s use of derivative transactions that have economic leverage embedded in them and/or leverage;
  • investments in non-U.S. securities and securities denominated in foreign currencies;
  • market disruption and geopolitical events, economic events and market events, and government intervention in the financial markets; and
  • inflation and deflation risk.

 Other risks relating to the Fund include risks resulting from:

  • the Fund’s lack of operating history;
  • the recently established relationship between FS Energy Advisor and Magnetar, as well as each entity’s limited experience in advising or sub-advising a registered investment company;
  • the Fund’s long term investment horizon, management and dependence on key personnel;
  • the liquidity risks associated with the Fund’s closed-end interval fund structure;
  • risks related to regulatory changes impacting investments in commodities and derivatives;
  • the anti-takeover provisions in the Fund’s declaration of trust and bylaws;
  • the Fund’s status as a non-diversified investment company; and
  • the Fund’s status as a RIC for U.S. federal income tax purposes.

Accordingly, the Fund should be considered a speculative investment that entails substantial risks, and prospective investors should invest in the Fund only if they can sustain a complete loss of their investments.

Corporate governance 

Securities offered through ALPS Distributors, Inc. (1280 Broadway, Suite 1100, Denver, CO 80203, member FINRA), the distributor of FS Energy Total Return Fund. FS Investment Solutions, LLC is an affiliated broker-dealer that serves as the exclusive wholesale marketing agent for FS Energy Total Return Fund. FS Investment Solutions, LLC and ALPS Distributors, Inc. are not affiliated. An investment in FS Energy Total Return Fund (the “Fund”) involves a high degree of risk and may be considered speculative. Investors are advised to consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The Fund’s prospectus contains this and other information about the Fund. Investors may obtain a copy of the Fund’s prospectus free of charge at www.fsinvestments.com or by contacting FS Investments at 201 Rouse Blvd., Philadelphia, PA 19112 or by phone at 877-372-9880. Investors should read and carefully consider all information found in the Fund’s prospectus and other reports filed with the U.S. Securities and Exchange Commission before investing.

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