First Trust New Opportunities MLP & Energy Fund is a balanced mutual fund focusing on the energy and utilities sectors in the United States. Managed by First Trust Advisors and co-managed by Energy Income Partners, it invests in both equity and fixed income markets. The fund targets investments in Master Limited Partnerships (MLPs), related entities, and dividend-paying energy companies, aiming to generate income and growth. It compares its performance against major indexes like the S&P 500 and Alerian MLP Total Return Index. Established in 2013, it offers investors exposure to the evolving energy sector.