First Trust/Value Line(R) & Ibbotson Equity Allocation Fund operates as a diversified, closed-end management investment company. It invests in common stocks of various companies. The fund's investment portfolio includes investments in energy, insurance, household durables, healthcare, information technology, and industrial goods sectors. First Trust Advisors L.P. serves as the investment advisor of the fund. First Trust/Value Line(R) & Ibbotson Equity Allocation Fund was formed in 2004 and is based in Lisle, Illinois.
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