First Trust Advisors L.P. (“FTA”) announced today that the mergers of First Trust Energy Income and Growth Fund (NYSE American: FEN), First Trust MLP and Energy Income Fund (NYSE: FEI), First Trust New Opportunities MLP & Energy Fund (NYSE: FPL), and First Trust Energy Infrastructure Fund (NYSE: FIF) (the “Target Funds” or each, individually, a “Target Fund”), into FT Energy Income Partners Enhanced Income ETF (NYSE Arca: EIPI), were successfully completed prior to the opening of the NYSE Arca on May 6, 2024.

Through the mergers, wholly-owned subsidiaries of EIPI acquired all of the assets and liabilities of the Target Funds in tax-free transactions, and shares of each Target Fund were converted to newly-issued shares of EIPI in an aggregate amount equal to the value of the net assets of each Target Fund. The transactions took place based upon the Target Funds’ closing net asset values on May 3, 2024. The exchange ratios at which shares of the Target Funds were converted to shares of EIPI are listed below:

 

Ticker

Fund Name

Exchange Ratio

FEN

First Trust Energy Income and Growth Fund

0.880285

FEI

First Trust MLP and Energy Income Fund

0.541658

FPL

First Trust New Opportunities MLP & Energy Fund

0.428077

FIF

First Trust Energy Infrastructure Fund

1

 

FTA is a federally registered investment advisor and serves as the investment advisor of 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 $226 billion as of March 28, 2024 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.

Jeff Margolin – (630) 517-7643 Daniel Lindquist – (630) 765-8692 Chris Fallow – (630) 517-7682 Ryan Issakainen – (630) 765-8689

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