Bringing you live news and features since 2006 

First Trust MLP and Energy Income Fund attracts USD830m in IPO

RELATED TOPICS​

First Trust Advisors has launched the First Trust MLP and Energy Income Fund, a closed-end fund designed to seek a high level of total return with an emphasis on current distributions paid to common shareholders.



The fund commenced trading on 28 November on the NYSE under the ticker symbol FEI.

The fund has initially raised approximately USD830m in its common share offering and, should the underwriters exercise the overallotment option in full, which may or may not occur, the fund will have raised approximately USD951m.

First Trust is the fund’s investment adviser and is responsible for supervising the fund’s sub-advisor, monitoring the fund’s investment portfolio, managing the fund’s business affairs and providing certain clerical and bookkeeping and other administrative services. First Trust, in consultation with the sub-adviser, will also be responsible for determining the fund’s overall investment strategy and overseeing its implementation.

Energy Income Partners is the fund’s investment sub-adviser and is primarily responsible for the day-to-day supervision and investment strategy of, and making investment decisions for, the fund. The lead managers of the common share underwriting syndicate were Morgan Stanley and Citigroup Global Markets.

Latest News

REX Shares has announced a strategic reorganisation that integrates its REX Shares, MicroSectors, and T-REX products, as well as REX..
Allspring Global Investments writes that as it builds an investment platform for the future, it has filed for exemptive relief..
LSEG Lipper writes that ETF promoters in Europe enjoyed estimated net inflows (+EUR25.1 billion) for May 2024...
The European Fund and Asset Management Association (EFAMA) has published its 2024 industry Fact Book, which includes a foreword by..

Related Articles

Marcus Wayerer, Franklin Templeton
Franklin Templeton says that emerging markets are navigating a tricky environment at the moment, due to factors such as the...
Matt Barry, Touchstone Investments
Back in 2022, Cincinnati, Ohio-based Touchstone Investments launched its first four ETFs, having previously been predominantly a mutual fund company....
CN Tower, Toronto
The winners were announced in the second ETF Express Canadian awards at the event held at The Quay in Toronto,...
Darren Jordan, Komainu
Custody specialist, Komainu, was launched in 2018 as a joint venture between Nomura, digital-asset investment manager, CoinShares and blockchain business,...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by