The First Trust New Opportunities MLP & Energy Fund is a balanced mutual fund managed by First Trust Advisors L.P. and Energy Income Partners LLC that mainly invests in public equity and fixed income markets of the US. It seeks securities of companies in the energy and utilities sectors and primarily invests in debt and equity securities of MLPs and MLP-related entities. The fund compares its portfolio performance with the S&P 500 Index, Alerian MLP Total Return Index, and Wells Fargo Midstream MLP Total Return Index.