First Trust North American Energy Infrastructure Fund (EMLP) is a closed-end management investment trust that seeks current income and relative total return. The fund invests primarily in publicly-traded equity securities of companies engaged in the management, ownership, operation, construction or development of energy infrastructure assets located primarily in the United States and Canada, including pipelines, storage facilities, and processing plants; master limited partnerships; and other energy infrastructure-related entities. EMLP employs a fundamental, bottom-up research process to select investments, focusing on midstream energy infrastructure to provide high dividend yields and potential capital appreciation.
The fund was launched in 2013 and is managed by First Trust Advisors LP, with headquarters in Wheaton, Illinois. It targets institutional and retail investors seeking exposure to the stable cash flows of North American energy infrastructure, operating exclusively in the U.S. and Canadian markets without notable subsidiaries or parent relationships beyond its sponsor.
Recent developments include portfolio adjustments in response to energy market volatility, such as increased weighting toward natural gas pipelines amid the 2024-2025 LNG export boom; no major acquisitions, funding rounds, or strategic alliances reported in the last two years; and ongoing distribution enhancements through leverage management to maintain its high yield profile above 7%.