MVO

Oil trust with some complex underlying constructions. Doesn't operate any wells but generates royalties from the production of specific wells. Primarily a US player in Colorado and Kansas.

The fund aims to pass most of the royalties on to investors, which is why you see a high distribution. The thing about this fund is it has a finite life. When the company has realized a particular amount of production, or if revenue slows enough, the trust will be dissolved.

This is a complex business that even I have difficulty understanding. I'd rather just buy traditional oil and gas assets/companies.