Fund Description: First Trust Energy Infrastructure Fund is an exchange-traded, closed-end fund or closed-end ETF, legally known as a non-diversified, closed-end management investment company. <p> INVESTMENT OBJECTIVE: The First Trust Energy Infrastructure Fund seeks a high level of total return with an emphasis on current distributions paid to shareholders. <p> FUND STRATEGY: The Fund will seek to achieve its objective by investing primarily in securities of companies 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, 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, petroleum and natural gas storage in the petroleum, natural gas and power generation industries (collectively, Energy Infrastructure Companies). Under normal market conditions, the Fund will invest at least 80% of its Managed Assets (including assets obtained through leverage) in publicly-traded securities of Energy Infrastructure Companies. The Fund expects to invest in equity securities such as common stocks, preferred stocks, convertible securities, warrants, depository receipts and other equity interests in Energy Infrastructure Companies. The Fund may directly invest up to 25% (or such higher amount as permitted by any future tax diversification rules) of its Managed Assets in equity securities of MLPs. The Fund may invest up to 15% of its Managed Assets in unregistered or otherwise restricted securities of Energy Infrastructure Companies. The Fund will not invest more than 15% of its Managed Assets in any single issuer, and will not invest directly in commodities. To generate additional income, the Fund may write (or sell) covered call options on up to 30% of the Managed Assets held in the Fund’s portfolio. The Fund may utilize leverage up to 33 1/3% of its Managed Assets to enhance the level of its current distributions. The Sub-Advisor believes that the energy infrastructure 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 industry, assets such as interstate pipelines, intrastate pipelines and storage and terminaling with long-term contracts are the types of assets that fit best into this type of investment. By contrast, other areas of the energy industry (such as oil and gas exploration, development and production) are less well suited because the cash flows are cyclical in nature, being driven by commodity prices, and because oil and gas assets are wasting assets. <p> FUND MANAGEMENT: First Trust Advisors L.P. is the Investment Advisor to the Fund 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, bookkeeping and other administrative services. The Advisor, in consultation with the Sub-Advisor, will also be responsible for determining the Fund’s overall investment strategy and overseeing its implementation. Energy Income Partners, LLC is the Sub-Advisor to the Fund and is primarily responsible for the day-to-day supervision and investment strategy of the Fund.