Profile: First Trust Energy Income and Growth Fund (FEN)
2 Mar 2015
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. The Fund invests in publicly traded master limited partnerships (MLPs) and related public entities in the energy sector. The Fund will invest at least 85% of its managed assets (including assets obtained through leverage) in securities of energy companies and energy sector MLPs, and will invest at least 65% of its managed assets in equity securities of such MLPs and MLP-related entities.
The Fund invests in industries, such as midstream oil and gas, coal, propane and marine transportation. The companies in which the Fund will invest are generally involved in the business of transporting, processing, storing, distributing or marketing natural gas, natural gas liquids (including propane), crude oil, refined petroleum products, coal or electricity, or exploring, developing, managing or producing such commodities or products, or in supplying energy-related products and services. Energy Income and Growth Fund may also invest up to 35% of its managed assets in unregistered or otherwise restricted securities (including up to 10% in securities issued by private companies), and up to 25% of its managed assets in debt securities of energy companies and MLPs, including securities rated below investment grade (commonly referred to as junk bonds). The Fund’s investment advisor is First Trust Advisors L.P. Its sub-advisor is Fiduciary Asset Management, LLC.
First Trust Energy Income and Growth Fund
187 Danbury Rd
WILTON CT 06897-4122