First Trust Announces Completion of Mergers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 06 2024
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Source: businesswire
- Mergers Completed: First Trust Advisors L.P. announced the successful completion of mergers involving several funds into FT Energy Income Partners Enhanced Income ETF.
- Acquisition Details: Wholly-owned subsidiaries of EIPI acquired assets and liabilities of the Target Funds in tax-free transactions, converting shares of each Target Fund to newly-issued shares of EIPI based on their net asset values.
- Exchange Ratios: Specific exchange ratios were provided for each Target Fund: FEN - 0.880285, FEI - 0.541658, FPL - 0.428077, FIF - 1.
- FTA's Role: FTA, a federally registered investment advisor, serves as the investment advisor of EIPI, with collective assets under management of approximately $226 billion.
- Company Information: FTA and its affiliate FTP are privately-held companies based in Wheaton, Illinois, providing various investment services including unit investment trusts, ETFs, closed-end funds, mutual funds, and managed accounts.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
