First Trust Advisors L.P. Announces Share Repurchase Programs for Certain Closed-end Funds
September 15 2020 - 3:31PM
Business Wire
First Trust Advisors L.P. (“FTA”) is pleased to announce that
the Board of Trustees of each of First Trust Energy Income and
Growth Fund (NYSE: FEN), First Trust New Opportunities MLP &
Energy Fund (NYSE: FPL), First Trust MLP and Energy Income Fund
(NYSE: FEI) and First Trust Energy Infrastructure Fund (NYSE: FIF)
has authorized a Share Repurchase Program for each Fund. Pursuant
to each Fund’s Share Repurchase Program, each Fund may, from time
to time and at the direction of management personnel, repurchase up
to the amount of shares in each Fund’s Share Repurchase Program
described below in secondary market transactions in accordance with
applicable law. Each Fund’s Share Repurchase Program will continue
until the earlier of (i) the repurchase 5% of each Fund’s
outstanding shares or (ii) March 15, 2021.
Fund
Number of Shares Available for
Repurchase through March 15, 2021
First Trust Energy Income and Growth
Fund
1,001,042
First Trust New Opportunities MLP &
Energy Fund
1,285,769
First Trust MLP and Energy Income Fund
2,350,362
First Trust Energy Infrastructure Fund
877,512
Each Fund’s repurchase activity will be disclosed in its
shareholder report for the relevant fiscal period. There is no
assurance that any Fund will purchase shares at any specific levels
or in any specific amounts.
The risks of investing in each Fund are spelled out in its
respective shareholder reports, and other regulatory filings. Each
Fund’s daily closing price and net asset value per share as well as
other information can be found at www.ftportfolios.com or by
calling (800) 988-5891.
First Trust Advisors L.P. (“FTA”) is a federally registered
investment advisor and serves as each 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 $152 billion as of
August 31, 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.
Energy Income Partners, LLC (“EIP”) serves as each Fund’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 July 31, 2020, EIP managed or supervised approximately $4.0
billion in client assets.
The information presented is not intended to constitute an
investment recommendation for, or advice to, any specific person.
By providing this information, FTA is not undertaking to give
advice in any fiduciary capacity within the meaning of ERISA and
the Internal Revenue Code. FTA has no knowledge of and has not been
provided any information regarding any investor. Financial advisors
must determine whether particular investments are appropriate for
their clients. FTA believes the financial advisor is a fiduciary,
is capable of evaluating investment risks independently and is
responsible for exercising independent judgment with respect to its
retirement plan clients.
This press release does 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.
Source: First Trust Advisors L.P.
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