First Trust Advisors L.P. Announces Portfolio Manager Update for FEI, FEN, FIF and FPL
August 13 2020 - 4:20PM
Business Wire
First Trust Advisors L.P. (“FTA”) announced today that Energy
Income Partners, LLC (“EIP”), investment sub-advisor for First
Trust MLP and Energy Income Fund (NYSE: FEI), First Trust Energy
Income and Growth Fund (NYSE MKT: FEN), First Trust Energy
Infrastructure Fund (NYSE: FIF), and First Trust New Opportunities MLP &
Energy Fund (NYSE: FPL) (the “Funds”), will release an
update on the market and the Funds for financial advisors and
investors. The update will be available Saturday, August 15, 2020 at 5:00 P.M. Eastern Time until
11:59 P.M. Eastern Time on Tuesday, September 15,
2020. To listen to the
update, follow these instructions:
-- Dial: (888) 203-1112; International (719) 457-0820; and
Passcode # 9332149. The update will be available from Saturday,
August 15, 2020, at 5:00 P.M. Eastern Time until 11:59 P.M. Eastern
Time on Tuesday, September 15, 2020.
FTA is a federally registered investment advisor and serves as
the Fund’s investment advisor. FTA and its affiliate First Trust
Portfolios L.P. (“FTP”), a FINRA registered broker-dealer, are
privately-held companies that provide a variety of investment
services. FTA has collective assets under management or supervision
of approximately $139 billion as of June 30, 2020 through unit
investment trusts, exchange-traded funds, closed-end funds, mutual
funds and separate managed accounts. FTA is the supervisor of the
First Trust unit investment trusts, while FTP is the sponsor. FTP
is also a distributor of mutual fund shares and exchange-traded
fund creation units. FTA and FTP are based in Wheaton,
Illinois.
EIP serves as the Funds’ investment sub-advisor and provides
advisory services to a number of investment companies and
partnerships for the purpose of investing in MLPs and other energy
infrastructure securities. EIP is one of the early investment
advisors specializing in this area. As of June 30, 2020, EIP
managed or supervised approximately $4.0 billion in client
assets.
Investment return and market value of an investment in the Funds
will fluctuate. Shares, when sold, may be worth more or less than
their original cost. There can be no assurance that the Funds’
investment objectives will be achieved. The Funds may not be
appropriate for all investors.
Principal Risk Factors: The Funds are subject to risks,
including the fact that each Fund is a non-diversified closed-end
management investment company.
Securities held by a Fund, as well as shares of a Fund itself,
are subject to market fluctuations caused by factors such as
general economic conditions, political events, regulatory or market
developments, changes in interest rates and perceived trends in
securities prices. Shares of a Fund could decline in value or
underperform other investments as a result of the risk of loss
associated with these market fluctuations. In addition, local,
regional or global events such as war, acts of terrorism, spread of
infectious diseases or other public health issues, recessions, or
other events could have a significant negative impact on a fund and
its investments. Such events may affect certain geographic regions,
countries, sectors and industries more significantly than others.
The outbreak of the respiratory disease designated as COVID-19 in
December 2019 has caused significant volatility and declines in
global financial markets, which have caused losses for investors.
The impact of this COVID-19 pandemic may last for an extended
period of time, and will continue to impact the economy for the
foreseeable future.
Because the Funds are concentrated in securities issued by MLPs,
MLP-related entities, and other energy and utilities companies,
they will be more susceptible to adverse economic or regulatory
occurrences affecting those industries, including high interest
costs, high leverage costs, the effects of economic slowdown,
surplus capacity, increased competition, uncertainties concerning
the availability of fuel at reasonable prices, the effects of
energy conservation policies and other factors.
The Funds invest in securities of non-U.S. issuers which are
subject to higher volatility than securities of U.S. issuers.
Because the Funds invest in non-U.S. securities, you may lose money
if the local currency of a non-U.S. market depreciates against the
U.S. dollar.
The Funds’ use of derivatives may result in losses greater than
if they had not been used, may require the Funds to sell or
purchase portfolio securities at inopportune times, may limit the
amount of appreciation the Funds can realize on an investment, or
may cause the Funds to hold a security that they might otherwise
sell.
There can be no assurance as to what portion of FIF’s
distributions paid to the Fund’s Common Shareholders will consist
of tax-advantaged qualified dividend income.
Use of leverage can result in additional risk and cost, and can
magnify the effect of any losses.
The information presented is not intended to constitute an
investment recommendation for, or advice to, any specific person.
By providing this information, First Trust is not undertaking to
give advice in any fiduciary capacity within the meaning of ERISA,
the Internal Revenue Code or any other regulatory framework.
Financial professionals are responsible for evaluating investment
risks independently and for exercising independent judgment in
determining whether investments are appropriate for their
clients.
The risks of investing in the Funds are spelled out in the
prospectus, shareholder reports and other regulatory filings.
The Funds’ daily New York Stock Exchange closing price and net
asset value per share as well as other related information can be
found at www.ftportfolios.com or by calling 1-800-988-5891.
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JEFF MARGOLIN - (630) 915-6784
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