First Trust Advisors Announces Fund Board Approval of Mergers of First Trust Energy Income and Growth Fund, First Trust MLP and Energy Income Fund, First Trust New Opportunities MLP & Energy Fund, and First Trust Energy Infrastructure Fund... - Seite 2

In connection with the proposed mergers of FEN, FEI and FPL into EIPI, each of these Target Funds may be required to recognize a decrease to its NAV prior to its merger, with another potential final adjustment to be made to the NAV of EIPI following the mergers after the receipt of year-end tax information to be provided by the master limited partnerships (“MLPs”) that had been held by such Target Funds. The amount and timing of such adjustments, if any, will depend in part on the market prices and composition of each such Target Fund’s portfolio securities.

EIPI will be an actively managed ETF that seeks to provide a high level of total return with an emphasis on current distributions paid to shareholders. EIPI will pursue its investment objective by investing in energy companies. EIPI will also deploy a partial covered call strategy to enhance its income.

FTA is a federally registered investment advisor and serves as the investment advisor of each Target Fund and EIPI. 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 $195 billion as of September 30, 2023 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 each Target Funds’ and EIPI’s 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 September 30, 2023, EIP managed or supervised approximately $5.0 billion in client assets.

Additional Information about the Proposed Mergers and Where to Find It

This press release is not intended to, and shall not, constitute an offer to purchase or sell shares of FEN, FEI, FPL, FIF or EIPI; nor is this press release intended to solicit a proxy from any shareholder of FEN, FEI, FPL or FIF. The solicitation of the purchase or sale of securities or of proxies to effect the transactions may only be made by a final, effective Registration Statement, which includes a definitive Proxy Statement/Prospectus, after the Registration Statement is declared effective by the SEC.