First Trust To Begin Trading The First Trust North American Energy Infrastructure Fund Thursday, June 21, 2012

First Trust has announced that they will begin trading The First Trust North American Energy Infrastructure Fund (NYSEARCA:EMLP) Thursday, June 21, 2012. The Fund’s investment objective is to seek total return.

Total Annual Fund Operating Expenses: 0.95%


Under normal market conditions, the Fund will invest at least 80% of its net  assets (plus the amount of any borrowing for investment purposes) in equity  securities of companies deemed by the Sub-Advisor (as defined below) to be  engaged in the energy infrastructure sector. These companies principally include  publicly-traded master limited partnerships and limited liability companies  taxed as partnerships (“MLPs”), MLP affiliates, Canadian income trusts and their  successor companies (collectively, “Canadian Income Equities”), pipeline  companies, utilities, and other 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  (collectively, “Energy Infrastructure Companies”). The Fund will be generally  concentrated in Energy Infrastructure Companies. In addition, under normal  market conditions, the Fund will invest at least 80% of its net assets (plus the  amount of any borrowing for investment purposes) in equity securities of  companies headquartered or incorporated in the United States and Canada.

The Fund may invest in equity securities of MLPs without limit, however, in  order to comply with applicable tax diversification rules, the Fund may have to  limit the percentage of its assets invested in MLPs on a periodic basis.

The Fund’s investment strategy will have an emphasis on current distributions  and dividends paid to shareholders. The Sub-Advisor believes that a  professionally managed portfolio of higher dividend paying MLPs, Canadian Income Equities, pipeline and power utilities and other Energy Infrastructure Companies  in non-cyclical segments offer an attractive balance of income and growth. The  Sub-Advisor believes that the non-cyclical assets that best support a  high-payout ratio are those with steady, fee-for-service businesses with  relatively low sustaining capital obligations. In the energy infrastructure  sector, such fee-for-service assets are comprised of but not limited to  interstate pipelines, intrastate pipelines with long-term contracts, power  generation assets, storage and terminal facilities with long-term contracts and  regulated power transmission and distribution assets. By contrast, the  Sub-Advisor will seek to limit the cyclical energy exposure of the portfolio.  The Sub-Advisor believes that portfolio investments in oil and gas exploration,  development and production are less well suited for the Fund because the cash  flows from these investments are cyclical in nature, being driven by commodity  prices, and because oil and gas assets are wasting assets. The Sub-Advisor  believes the use of rigorous investment research and analytical tools, along  with conservative portfolio construction used to identify appropriate  non-cyclical Energy Infrastructure Company investments, provides a value added  service to the individual investor making an investment in this asset class.

The Fund may also use derivative investments such as bond index and equity index  futures to hedge against interest rate and market risks. The Fund may engage in  currency hedging transactions, including buying or selling options or entering  into other transactions including futures, forward contracts, swaps and other  derivatives transactions.

For the prospectus click: HERE

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