Miller/Howard High Income Equity Fund Announces Executive Changes
November 08, 2019 at 08:00 am
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Lowell G. Miller has announced his intention to retire from Miller/Howard Investments Inc., the investment adviser to the Miller/Howard High Income Equity Fund (the “Fund”) in late 2020. It is expected that on November 15, 2020, Mr. Miller will resign from his current position as Chief Investment Officer of the Adviser, and will no longer serve as a portfolio manager to the Fund. Mr. Miller intends to continue as the Fund’s President, and Trustee and Chairman of the Fund’s Board of Trustees, and he will continue to serve on the Adviser’s Board of Directors. Over several years, Mr. Miller has helped to craft and implement his succession plan, encompassing Miller/Howard’s governance, culture, and ownership. As part of the succession plan, Miller/Howard converted to an Employee Stock Ownership Plan in November 2018, and Gregory L. Powell, PhD, was named Deputy Chief Investment Officer of Miller/Howard at that time to ensure that there would be a smooth transition for Mr. Miller’s future retirement. It is anticipated that on November 15, 2020, Mr. Powell will assume the role of Chief Investment Officer of the Adviser. Mr. Powell joined Miller/Howard in September 2017, after a distinguished 19-year career as a portfolio manager and director of research for AllianceBernstein. Mr. Miller and Mr. Powell will continue to work together over the next year to complete the transition. During the transition and thereafter, the Adviser will continue to have the benefit of the experienced investment management team that has helped guide the Fund’s performance to date. Mr. Miller will continue to have a substantial financial interest in Miller/Howard and expects to maintain his investment in each of the Miller/Howard funds.
Miller/Howard High Income Equity Fund (the Fund) is a closed-end, diversified management investment company. The Fund's primary objective is to provide high current income with capital appreciation. The Fund invests, under normal market conditions, at least 80% of its total assets in dividend or distribution paying equity securities of United States companies and non- United States companies traded on United States exchanges. The Fund may invest in equity securities including common stocks, preferred stocks, convertible securities, warrants, depository receipts and equity interests in trust and other entities. The Fund may also invest up to 25% of its total assets in securities of master limited partnerships (MLPs). The Fund invests in various sectors, which include oil and gas extraction, insurance carriers, natural gas transmission, real estate investment trusts, petroleum refining, eating places, and others. The Fundâs investment advisor is Miller/Howard Investments, Inc.
MILLER/HOWARD HIGH INCOME EQUITY FUND 
