First Trust’s Closed-End Fund Management Team has extensive experience in closed-end portfolio management and research. The team uses a disciplined investing approach as they seek to potentially add value through fundamental analysis. Through active management, the team has the flexibility to manage sector and issuer concentrations and can position the portfolio defensively in high risk environments. The team believes that by having the ability to adjust market/sector exposure quickly, they may be able to take advantage of inefficiencies that exist within the CEF market.