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First Trust Announces Completion of Mergers
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 Fund Name Fund Name Exchange Ratio Exchange Ratio Exchange Ratio Exchange Ratio -------------------- ----------------------------------------------- ----------------------------------------------- ----------------------------------------------- -------------------- -------------------- -------------------- -------------------- FEN First Trust Energy Income and Growth Fund First Trust Energy Income and Growth Fund First Trust Energy Income and Growth Fund 0.880285 0.880285 0.880285 0.880285 -------------------- ----------------------------------------------- ----------------------------------------------- ----------------------------------------------- -------------------- -------------------- -------------------- -------------------- FEI First Trust MLP and Energy Income Fund First Trust MLP and Energy Income Fund First Trust MLP and Energy Income Fund 0.541658 0.541658 0.541658 0.541658 -------------------- ----------------------------------------------- ----------------------------------------------- ----------------------------------------------- -------------------- -------------------- -------------------- -------------------- FPL First Trust New Opportunities MLP & Energy Fund First Trust New Opportunities MLP & Energy Fund First Trust New Opportunities MLP & Energy Fund 0.428077 0.428077 0.428077 0.428077 -------------------- ----------------------------------------------- ----------------------------------------------- ----------------------------------------------- -------------------- -------------------- -------------------- -------------------- FIF First Trust Energy Infrastructure Fund First Trust Energy Infrastructure Fund First Trust Energy Infrastructure Fund 1 1 1 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240506774316/en/
SOURCE: First Trust Advisors L.P.
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Jeff Margolin - (630) 517-7643 Daniel Lindquist - (630) 765-8692 Chris Fallow - (630) 517-7628 Ryan Issakainen - (630) 765-8689
COMTEX_451965600/1006/2024-05-06T11:22:01