First Trust MLP and Energy Income Fund is a non-diversified closed-end management investment company. The Fund's investment objective is to seek a high level of total return with an emphasis on current distributions paid to common shareholders. The Fund seeks to provide its shareholders with an efficient vehicle to invest in a portfolio of cash generating securities of energy companies. The Fund focuses on investing in equity and debt securities of master limited partnerships (MLPs), MLP-related entities and other energy sector and energy utilities companies. Under normal market conditions, the Fund will invest approximately 85% of its Managed Assets in equity and debt securities of MLPs, MLP-related entities and other energy sector and energy utilities companies, and approximately 65% of its Managed Assets in equity securities issued by energy sector MLPs and energy sector and energy utilities MLP-related entities. First Trust Advisors L.P. is the Fund's investment advisor.