Sub-Advised Funds

Exchange Traded Funds

FT Energy Income Partners Strategy ETF (EIPX)

EIPIX was launched in November 2022 with EIP serving as Sub-Advisor and First Trust as Advisor. The FT Energy Income Partners Strategy ETF (the “Fund”) is an actively managed exchange-traded fund that seeks risk-adjusted total return.

Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in a portfolio of equity securities in the broader energy market. Energy Income Partners, LLC (“EIP”) believes that a professionally managed portfolio of energy companies offers an attractive balance of income and growth through a combination of dividends and capital appreciation.

EIP focuses primarily on the analysis of a company’s yield, growth, and valuation:
-Yield Analysis: Seeks companies with stable cash flows and higher-than-average dividend payout ratios or companies with cyclical cash flows that have lower and more sustainable dividend payout ratios.
-Growth Analysis: Focuses on increasing per share earnings and cash flow, with a belief that free cash flow can drive reinvestment or share repurchase, each of which can drive per share growth.
-Valuation Analysis: Seeks companies that have the potential to experience positive changes in value, where business restructuring, changes in management or asset mix, or changes in government policy may positively impact investor perception about a company’s future. Through the analysis described above, and use of rigorous investment research and analytical tools applied to stock selection and portfolio construction, EIP selects companies for the fund’s portfolio that it believes have the best potential to achieve the fund’s investment objective.

Investors are advised to visit ftportfolios.com to read more about the Fund and download and read the Fund’s prospectus before investing.

First Trust North American Energy Infrastructure Fund (EMLP)

EIP as Sub-Advisor and First Trust as Advisor launched EMLP in June 2012.  The First Trust North American Energy Infrastructure Fund (the “Fund”) is an actively managed exchange-traded fund. The Fund’s investment objective is to seek total return. The Fund’s investment strategy will have an emphasis on current distributions and dividends paid to shareholders.

Under normal market conditions, the Fund will invest at least 80% of its net assets (including investment borrowings) in equity securities of companies deemed by EIP to be engaged in the energy infrastructure sector. These companies principally include U.S. and Canadian natural gas and electric utilities, corporations operating energy infrastructure assets such as pipelines or renewable energy production, utilities, publicly-traded master limited partnerships or limited liability companies taxed as partnerships (“MLPs”), MLP affiliates, and other companies that derive the majority of their revenues from operating or providing services in support of infrastructure assets such as pipelines, power transmission and petroleum and natural gas storage in the petroleum, natural gas and power generation industries (collectively, “energy infrastructure companies”). The Fund will invest principally in energy infrastructure companies. In addition, under normal market conditions, the Fund will invest at least 80% of its net assets (including investment borrowings) in equity securities of companies headquartered or incorporated in the United States and Canada.

Investors are advised to visit ftportfolios.com to read more about the Fund and download and read the Fund’s prospectus before investing.

First Trust EIP Carbon Impact ETF (ECLN)

EIP as Sub-Advisor and First Trust Advisors L.P. as investment advisor launched ECLN in August 2019. The First Trust EIP Carbon Impact ETF (the “Fund”) is an actively managed exchange-traded fund. The Fund’s investment objective is to achieve a competitive risk-adjusted total return balanced between dividends and capital appreciation.

Under normal market conditions, the Fund will invest at least 80% of its net assets (including investment borrowings) in the equity securities of companies identified by EIP as having or seeking to have a positive carbon impact. EIP defines positive carbon impact companies as companies that reduce, have a publicly available plan to reduce, or enable the reduction of carbon and other greenhouse gas emissions from the production, transportation, conversion, storage and use of energy. The companies in which the Fund invests will have demonstrated a commitment to positive carbon impact activities, as determined by EIP, based on its fundamental research and review of public documents, such as regulatory filings and investor and public communications.

Investors are advised to visit ftportfolios.com to read more about the Fund and download and read the Fund’s prospectus before investing which includes the Fund’s investment objectives, risks, and expenses.

Closed-end Funds

First Trust Energy Income And Growth Fund (FEN)

EIP took over the sub-advisory responsibilities of this publicly traded closed-end fund in September 2007.  First Trust Energy Income and Growth Fund (the “Fund”) is a non-diversified, closed-end management investment company. The Fund’s investment objective is to seek a high level of after-tax total return with an emphasis on current distributions paid to shareholders. The Fund pursues its objective by investing in cash-generating securities of energy companies, with a focus on investing in publicly-traded MLPs, related public entities in the energy sector and other public companies, which EIP believes offer opportunities for income and growth. Under normal market conditions, the Fund will invest at least 85% of its managed assets in securities of energy companies, energy sector MLPs and MLP-related entities.

Investors are advised to visit ftportfolios.com to learn more about the Fund and download and read the Fund’s prospectus before investing.

First Trust Energy Infrastructure Fund (FIF)

EIP as Sub-Advisor and First Trust as Advisor launched FIF in September 2011.  First Trust Energy Infrastructure Fund (the “Fund”) is a non-diversified, closed-end management investment company. The Fund’s investment objective is to seek a high level of total return with an emphasis on current distributions paid to shareholders by investing primarily in securities of companies engaged in the energy infrastructure sector. Energy infrastructure companies principally include publicly-traded master limited partnerships (“MLPs”) and limited liability companies taxed as partnerships, MLP affiliates, YieldCos, pipeline companies, utilities, and other infrastructure-related companies that derive at least 50% of their revenues from operating or providing services in support of infrastructure assets such as pipelines, power transmission and petroleum and natural gas storage in the petroleum, natural gas and power generation industries. For purposes of the Fund’s investment objective, total return includes capital appreciation of, and all distributions received from, securities in which the Fund will invest, taking into account the varying tax characteristics of such securities.  Under normal market conditions, the Fund invests at least 80% of its managed assets in securities of Energy Infrastructure companies.

Investors are advised to visit ftportfolios.com to read more about the fund and download and read the fund’s prospectus before investing.

First Trust MLP and Energy Income Fund (FEI)

EIP as Sub-Advisor and First Trust as Advisor launched FEI in November 2012.  First Trust MLP and Energy Income Fund (the “Fund”) is a non-diversified, closed-end management investment company. The Fund’s investment objective is to seek a high level of total return with an emphasis on current distributions paid to shareholders. Under normal market conditions, the Fund will invest at least 85% of its managed assets in equity and debt securities of MLPs, MLP-related entities and other energy sector and energy utility companies that the Fund’s sub-advisor believes offer opportunities for growth and income.

Investors are advised to visit ftportfolios.com to read more about the Fund and download and learn the Fund’s prospectus before investing.

Investors are advised to visit ftportfolios.com to read more about the Fund and download and learn the Fund’s prospectus before investing.

First Trust New Opportunities MLP & Energy Fund (FPL)

EIP as Sub-Advisor and First Trust as Advisor launched FPL in March 2014.  First Trust New Opportunities MLP & Energy Fund (the “Fund”) is a non-diversified, closed-end management investment company. The Fund’s investment objective is to seek a high level of total return with an emphasis on current distributions paid to common shareholders. The Fund seeks to provide its shareholders with a vehicle to invest in a portfolio of cash-generating securities, with a focus on investing in publicly traded master limited partnerships (“MLPs”) and MLP-related entities in the energy sector and energy utility industries that are weighted towards non-cyclical, fee-for-service revenues. Under normal market conditions, the Fund will invest at least 85% of its managed assets in equity and debt securities of MLPs, MLP-related entities and other energy sector and energy utility companies that the Fund’s sub-advisor believes offer opportunities for growth and income.

Investors are advised to visit ftportfolios.com to learn more about the Fund and download and read the Fund’s prospectus before investing.

 


Energy Income Partners also sub-advises a portion of capital in one other First Trust Portfolio.

There can be no assurance that the above Fund’s investment objectives will be achieved.

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