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First Trust Energy Infrastructure Fund (FIF)
Investment Objective/Strategy - First Trust Energy Infrastructure 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 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. 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.
There can be no assurance that the Fund's investment objectives will be achieved.
Fund Overview
Fund TypeEnergy
Investment AdvisorFirst Trust Advisors L.P.
Portfolio Manager/Sub-AdvisorEnergy Income Partners, LLC
Investor Servicing AgentBNY Mellon Investment Servicing (US) Inc.
Fiscal Year-End11/30
Inception Price$20.00
Inception NAV$19.10
Current Fund Data (as of 8/26/2014)
Closing NAV1$27.61
Closing Share Price2$24.86
Discount to NAV9.96%
Total Managed Assets$630,431,568
Common Shares Outstanding17,550,236
Dividend FrequencyMonthly
Dividend Per Share Amt3$0.1100
Distribution Rate45.31%
Daily Volume43,100
Average 30-Day Daily Volume50,725
Closing Share Price 52-Week High/Low$25.01 / $19.59
Closing NAV 52-Week High/Low$27.69 / $21.38
Expense Ratios (as of 5/31/2014)
Annual ExpensesPercent of
Net Assets
Percent of
Management Fees1.36%1.00%
Other Expenses
Total Operating Expenses1.56%1.15%
Leverage Costs0.28%0.21%
Total Annual Expenses1.84%1.36%
Leverage costs include interest, fees and any upfront/offering costs associated with borrowings by the Fund.
Leverage Information (as of 8/26/2014)6
Total Net Assets with Leverage$630,431,568
Amount Attributable to Common Shares$484,531,568
Amount Attributable to Preferred Shares$0
Amount Attributable to Other Borrowings$145,900,000
Leverage (% of Total Net Assets)23.14%
Top 10 Holdings (as of 6/30/2014)7
Holding Percent
Enbridge Energy Management, LLC 9.08%
Kinder Morgan Management, LLC 7.38%
Williams (The) Cos., Inc. 4.57%
Kinder Morgan, Inc. 4.21%
NextEra Energy, Inc. 3.38%
Southern Co. 3.25%
UGI Corp. 3.06%
TransCanada Corp. 2.94%
Northeast Utilities 2.93%
Spectra Energy Corp. 2.79%
Share Price and NAV History (Since Inception)
Past performance is not indicative of future results.
% Premium/Discount (Since Inception)
Cumulative Total Returns (as of 7/31/2014)5
Period Share Price NAV
3 Months 6.08% 5.35%
1 Year 8.22% 18.97%
Year to Date 16.18% 16.44%
Inception to Date 55.28% 78.67%
Calendar Year Returns (as of 12/31/2013)5
Period Share Price NAV
2013 12.20% 21.64%
Average Annual Returns (as of 7/31/2014)5
Period Share Price NAV
Inception to Date 16.73% 22.64%
Industry Breakdown (as of 6/30/2014)7
  Industry Percent
Pipelines 53.56%
Electric Power 27.45%
Natural Gas Utility 7.09%
Propane 4.93%
Coal 2.84%
Marine Transportation 1.90%
Other 1.24%
Gathering & Processing 0.99%
1 The NAV represents the fund's net assets (assets less liabilities) divided by the fund's common shares outstanding.
2 Fund shares are purchased and sold on an exchange at their share price rather than net asset value (NAV), which may cause the shares to trade at a price greater than NAV (premium) or less than NAV (discount).
3 Most recent distribution paid or declared through today's date. Subject to change in the future.
4 Distribution rates are calculated by annualizing the most recent distribution paid or declared through today's date and then dividing by the most recent market price. The distribution consists of the sum of net investment income, net realized short-term capital gains, net realized long-term capital gains, and return of capital. Distribution rates may vary. Any distribution adjustment will not be reflected until after the declaration date for the next distribution. See the fund's 19a-1 Notices, if any, located under the "News & Literature" section of the website for estimates of distribution sources. Final determination of the source and tax status of all distributions paid in the current year will be made after year-end.
5 Total return is the combination of reinvested dividend income and reinvested capital gains distributions, at prices obtained by the Dividend Reinvestment Plan, if any, and changes in the NAV and Share Price. The NAV total return takes into account the fund's total annual expenses and does not reflect sales load. Past performance is not indicative of future results.
6 Leverage is a technique where a closed-end fund's manager borrows assets at one rate and invests the proceeds from the borrowed assets at another rate, seeking to increase yield and total return. Use of leverage can result in additional risk and cost, and can magnify the effect of any losses.
7 Market value information used in calculating the percentages is based upon trade date plus one recording of transactions, which can differ from regulatory financial reports (Forms N-CSR and N-Q) that are based on trade date recording of security transactions. Holdings are subject to change.

Risk Considerations

The Fund is subject to risks.  It is designed for long-term investing and not as a vehicle for trading. Shares of closed-end investment companies frequently trade at a discount from their net asset value ("NAV"). The Fund cannot predict whether or when its common shares will trade at, below or above NAV or at, below or above the initial public offering price.

The Fund is subject to various risks, including investment and market risk, management risk, current economic conditions-credit crisis liquidity and volatility risk, fixed-income securities risk, which includes issuer risk, interest rate risk, prepayment risk and reinvestment risk, credit and below-investment grade securities risk, short-selling risk, valuation risk, credit rating agency risk, non-U.S. securities risk, emerging markets risk, preferred stock risk, credit-linked notes risk, leverage risk, derivatives risk, credit default swaps risk, U.S. government securities risk, non-U.S. government debt securities risk, distressed securities risk, counterparty and prime brokerage risk, market discount from net asset value risk, government intervention in financial markets risk, illiquid/restricted securities risk, market disruption and geopolitical risk, REIT risk, inflation/deflation risk, portfolio turnover risk, loan participations and assignments risk, asset-backed, mortgage-backed or mortgage-related securities agreements risk, anti-takeover provisions risk, common stock risk, currency risk, temporary defensive strategies risk and secondary market risk for the Fund's common shares.

The risks of investing in the Fund are spelled out in the prospectus, shareholder report and other regulatory filings.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
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