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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.
Key Points:
- 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:
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Financial adviser No assurance can be given as to the exact timing of the closing of the mergers.
Key Points:
- No assurance can be given as to the exact timing of the closing of the mergers.
- Immediately prior to the consummation of the mergers, EIPI will adopt the net asset value (“NAV”) per share of First Trust Energy Infrastructure Fund.
- 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.
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Wednesday, April 24, 2024
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Growth First Trust Energy Income and Growth Fund (the "Fund") (NYSE American: FEN) has declared its final common share distribution rate in the amount of $0.30 per share, which as previously announced on April 19, 2024, will be payable on May 2, 2024, to shareholders of record as of April 29, 2024.
Key Points:
- First Trust Energy Income and Growth Fund (the "Fund") (NYSE American: FEN) has declared its final common share distribution rate in the amount of $0.30 per share, which as previously announced on April 19, 2024, will be payable on May 2, 2024, to shareholders of record as of April 29, 2024.
- The Fund focuses on investing in MLPs and related public entities in the energy sector which the Fund's investment sub-advisor believes offer opportunities for income and growth.
- The Fund is treated as a regular corporation, or a "C" corporation, for United States federal income tax purposes and, as a result, is subject to corporate income tax to the extent the Fund recognizes taxable income.
- First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor.
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Growth First Trust Energy Income and Growth Fund (the "Fund") (NYSE American: FEN) has declared its final common share distribution, which may not ultimately be made, as further discussed below, payable on May 2, 2024, to shareholders of record as of April 29, 2024.
Key Points:
- First Trust Energy Income and Growth Fund (the "Fund") (NYSE American: FEN) has declared its final common share distribution, which may not ultimately be made, as further discussed below, payable on May 2, 2024, to shareholders of record as of April 29, 2024.
- The Fund will make the distribution on the date listed above if any estimated accumulated earnings and profits remain.
- The Fund focuses on investing in MLPs and related public entities in the energy sector which the Fund's investment sub-advisor believes offer opportunities for income and growth.
- The Fund is treated as a regular corporation, or a "C" corporation, for United States federal income tax purposes and, as a result, is subject to corporate income tax to the extent the Fund recognizes taxable income.
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Wednesday, April 10, 2024
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Life insurance First Trust Energy Income and Growth Fund (the "Fund") (NYSE American: FEN) has increased its regularly scheduled quarterly distribution to $0.40 per share from $0.30 per share The distribution will be payable on April 30, 2024, to shareholders of record as of April 23, 2024.
Key Points:
- First Trust Energy Income and Growth Fund (the "Fund") (NYSE American: FEN) has increased its regularly scheduled quarterly distribution to $0.40 per share from $0.30 per share The distribution will be payable on April 30, 2024, to shareholders of record as of April 23, 2024.
- The Fund focuses on investing in MLPs and related public entities in the energy sector which the Fund's investment sub-advisor believes offer opportunities for income and growth.
- The Fund is treated as a regular corporation, or a "C" corporation, for United States federal income tax purposes and, as a result, is subject to corporate income tax to the extent the Fund recognizes taxable income.
- First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor.
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Security (finance) As previously announced, the mergers were approved by the Boards of Trustees of the Target Funds and EIPI on October 23, 2023.
Key Points:
- As previously announced, the mergers were approved by the Boards of Trustees of the Target Funds and EIPI on October 23, 2023.
- No assurance can be given as to the exact timing of the closing of the mergers.
- The merger of each Target Fund into EIPI is expected to qualify as a tax-free reorganization for federal income tax purposes.
- 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.
Retrieved on:
Tuesday, February 20, 2024
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Target The joint special meeting of shareholders will reconvene on February 29, 2024 at 12:00 p.m. Central time in the offices of FTA at 120 East Liberty Drive, Suite 400, Wheaton, Illinois (the “Meeting”).
Key Points:
- The joint special meeting of shareholders will reconvene on February 29, 2024 at 12:00 p.m. Central time in the offices of FTA at 120 East Liberty Drive, Suite 400, Wheaton, Illinois (the “Meeting”).
- Shareholders of record of each Target Fund as of the close of business on October 23, 2023 are entitled to vote at the Meeting.
- Whether or not shareholders plan to attend the Meeting, it is important that their shares be represented and voted at the Meeting.
- Shareholders may vote their shares by one of the methods described in the proxy materials previously mailed to them, which includes a joint proxy statement and prospectus (the “proxy statement”).
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Growth First Trust Energy Income and Growth Fund (the "Fund") (NYSE American: FEN) has declared the Fund's regularly scheduled quarterly distribution of $0.30 per share.
Key Points:
- First Trust Energy Income and Growth Fund (the "Fund") (NYSE American: FEN) has declared the Fund's regularly scheduled quarterly distribution of $0.30 per share.
- The Fund focuses on investing in MLPs and related public entities in the energy sector which the Fund's investment sub-advisor believes offer opportunities for income and growth.
- The Fund is treated as a regular corporation, or a "C" corporation, for United States federal income tax purposes and, as a result, is subject to corporate income tax to the extent the Fund recognizes taxable income.
- First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor.
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Financial adviser Each merger is expected to qualify as a tax-free reorganization for federal income tax purposes.
Key Points:
- Each merger is expected to qualify as a tax-free reorganization for federal income tax purposes.
- Each transaction is subject to shareholder approval and is a separate Merger, and no Merger is contingent upon any other Merger.
- There is no assurance when or whether such approvals, or any other approvals required for the transactions, will be obtained.
- FTA is a federally registered investment advisor and serves as the investment advisor of each Target Fund and EIPI.
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Financial adviser First Trust Energy Income and Growth Fund (the "Fund") (NYSE American: FEN) has declared the Fund's regularly scheduled quarterly distribution of $0.30 per share.
Key Points:
- First Trust Energy Income and Growth Fund (the "Fund") (NYSE American: FEN) has declared the Fund's regularly scheduled quarterly distribution of $0.30 per share.
- The Fund focuses on investing in MLPs and related public entities in the energy sector which the Fund's investment sub-advisor believes offer opportunities for income and growth.
- The Fund is treated as a regular corporation, or a "C" corporation, for United States federal income tax purposes and, as a result, is subject to corporate income tax to the extent the Fund recognizes taxable income.
- First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor.
