First Trust Intermediate Duration Preferred & Income Fund

# First Trust Intermediate Duration Preferred & Income Fund

FPF is a closed-end fixed income mutual fund launched and managed by First Trust Advisors L.P., with co-management provided by Stonebridge Advisors, LLC. The fund was established in May 2013 and is domiciled in the United States. It operates within the asset management industry, offering investors a portfolio focused on fixed income securities with an intermediate duration strategy.

The fund invests across fixed income markets, including both investment-grade and below-investment-grade securities. Its portfolio encompasses preferred stocks and income-generating instruments, with exposure to high-yield securities as part of its investment mandate. The fund's structure as a closed-end vehicle differentiates it from open-ended mutual funds, allowing for more concentrated portfolio management and consistent leverage strategies if employed.

First Trust Advisors L.P., the primary manager, is headquartered in Wheaton, Illinois, and operates as part of the broader First Trust family of investment products. The fund maintains a market capitalization of approximately $1.2 billion and trades on the NYSE, providing liquidity through secondary market transactions rather than direct redemptions typical of open-ended funds.