Fund Description: First Trust New Opportunities MLP & Energy Fund is an exchange-traded closed-end Fund or a closed-end ETF which is officially described as a non-diversified, closed-end investment management company. INVESTMENT OBJECTIVE: The First Trust New Opportunities MLP & Energy Fund seeks a high level of total return with an emphasis on current distributions paid to shareholders. FUND STRATEGY: The Fund will seek to provide its common shareholders with a vehicle to invest in a portfolio of cash-generating securities, with a focus on investing in publicly traded master limited partnerships (MLPs) and MLP-related entities in the energy sector and energy utilities industries that are weighted towards non-cyclical, fee-for-service revenues. Under normal market conditions, the Fund will invest at least 85% of its Managed Assets in equity and debt securities of MLPs, MLP-related entities and other energy sector and energy utilities companies that the Fund's Sub-Advisor believes offer opportunities for growth and income. Under normal market conditions, the Fund will invest at least 65% of its Managed Assets in equity securities issued by energy sector MLPs and energy sector and energy utilities MLP-related entities. To generate additional income, the Fund currently expects to write (or sell) covered call options on up to 35% of its Managed Assets. FUND MANAGEMENT: First Trust Advisors L.P. serves as the investment advisor to the Fund. Energy Income Partners, LLC will serve as the sub-advisor to the Fund.