DALLAS, Jan. 25, 2013 /PRNewswire/ -- The Cushing^® MLP Total Return Fund (NYSE: SRV) declared a quarterly distribution for the fiscal quarter ending February 28, 2013 of $0.225 per common share. The Fund's distribution will be payable on March 20, 2013 to shareholders of record on February 28, 2013.  The ex-date for the Fund's distribution is February 26, 2013.

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It is anticipated but not certain that a majority of the Fund's distribution will be treated as a return of capital. The final determination of such amounts will be made and reported to shareholders in early 2013, after the end of the calendar year when the Fund determines its earnings and profits for the year. The final tax status of the distribution may differ substantially from this preliminary information.

In addition, effective immediately, the Fund has eliminated its non-fundamental policy to generally seek to invest in 20 to 30 issuers.  Although the Fund no longer has a limit on the number of issuers in which it may invest, the Fund will continue to generally seek to invest no more than 10% of its Managed Assets (as defined in the prospectus) in any one issue and no more than 20% of its Managed Assets in any one issuer, in each case, determined at the time of investment. 

The Fund also announced that N. Paul Euseppi has joined the portfolio management team responsible for the day-to-day management of the Fund's portfolio. 

N. Paul Euseppi joined the Fund's investment adviser, Cushing MLP Asset Management, LP ("Cushing"), in 2008. As a Vice President, Senior Research Analyst and Portfolio Manager, his responsibilities include portfolio management and research for the Fund.  Prior to joining the firm, Mr. Euseppi spent two years as a financial analyst in the global energy investment banking unit at Citi Global Markets, where he focused on corporate finance and mergers and acquisitions. Mr. Euseppi was previously a senior associate in the transaction services division of PricewaterhouseCoopers. He received his B.B.A. from the University of Texas at Austin and his M.B.A. from Texas Tech University. Mr. Euseppi is a certified public accountant.

The Fund is a non-diversified, closed-end management investment company with an investment objective of seeking a high after-tax total return from a combination of capital appreciation and current income. The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets, plus any borrowings for investment purposes, in master limited partnership (MLP) investments.  The Fund is traded on the New York Stock Exchange under the symbol "SRV."

The Fund is managed by Cushing^® MLP Asset Management, LP. No assurance can be given that the Fund's investment objective will be achieved.

ABOUT CUSHING^® MLP ASSET MANAGEMENT, LP

Cushing, a subsidiary of Swank Capital, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts which invest primarily in securities of MLPs and other natural resource companies.  As of December 31, 2012, Cushing had approximately $2.2 billion of assets under management in closed-end funds, mutual funds, privately offered funds and separately managed accounts. 

IMPORTANT INFORMATION

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the Funds and Cushing believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the company's reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the Funds and Cushing do not assume a duty to update this forward-looking statement.

www.swankcapital.com

SOURCE Cushing MLP Asset Management