First Trust Advisors L.P. Announces Portfolio Manager Update for First Trust Specialty Finance and Financial Opportunities Fund

WHEATON, Ill.–(BUSINESS WIRE)–First Trust Advisors L.P. (“FTA”) announced today that Confluence
Investment Management, LLC (“Confluence”), investment sub-advisor for
First Trust Specialty Finance and Financial Opportunities Fund (NYSE:
FGB) (the “Fund”), will release an update on the market and the Fund for
financial advisors and investors. The update will be available Tuesday,
February 26, 2019, at 5:00 P.M. Eastern Time until 11:59 P.M. Eastern
Time on Monday, March 25, 2019
. To listen to the update,
follow these instructions:

  Dial: (888) 203-1112; International (719) 457-0820; and Passcode #
9021040 and PIN # 2342. The update will be available from Tuesday,
February 26, 2019, at 5:00 P.M. Eastern Time until 11:59 P.M.
Eastern Time on Monday, March 25, 2019.

The Fund is a non-diversified, closed-end management investment company
that seeks to provide a high level of current income. As a secondary
objective, the Fund seeks to provide attractive total return. The Fund
pursues these investment objectives by investing at least 80% of its
managed assets in a portfolio of securities of specialty finance and
other financial companies that the Fund’s investment sub-advisor
believes offer attractive opportunities for income and capital

FTA is a federally registered investment advisor and serves as the
Fund’s investment advisor. FTA and its affiliate First Trust Portfolios
L.P. (“FTP”), a FINRA registered broker-dealer, are privately-held
companies that provide a variety of investment services. FTA has
collective assets under management or supervision of approximately $121
billion as of January 31, 2019 through unit investment trusts,
exchange-traded funds, closed-end funds, mutual funds and separate
managed accounts. FTA is the supervisor of the First Trust unit
investment trusts, while FTP is the sponsor. FTP is also a distributor
of mutual fund shares and exchange-traded fund creation units. FTA and
FTP are based in Wheaton, Illinois.

Confluence, an SEC registered investment advisor, serves as the Fund’s
investment sub-advisor. The Confluence team has more than 500 years of
combined financial experience and 300 years of portfolio management
experience, maintaining a proven track record that dates back to 1994.
As of January 31, 2019, Confluence had $8.45 billion dollars in assets
under management and supervision.

Investment return and market value of an investment in the Fund will
fluctuate. Shares, when sold, may be worth more or less than their
original cost. There can be no assurance that the Fund’s investment
objectives will be achieved. The Fund may not be appropriate for all

Principal Risk Factors: The Fund invests in business development
companies (“BDCs”) which may be subject to a high degree of risks,
including management’s ability to meet the BDC’s investment objective,
and to manage the BDC’s portfolio when the underlying securities are
redeemed or sold, during periods of market turmoil and as investors’
perceptions regarding a BDC or its underlying investments change.

Investing in real estate investment trusts (“REITs”) involves certain
unique risks in addition to investing in the real estate industry in
general. REITs are subject to interest rate risk and the risk of default
by lessees or borrowers.

The Fund may invest in a variety of other mortgage-related securities.
Rising interest rates tend to extend the duration of mortgage-related
securities, making them more sensitive to changes in interest rates, and
may reduce the market value of the securities. In addition,
mortgage-related securities are subject to the risk that borrowers may
pay off their mortgages sooner than expected, particularly when interest
rates decline. This can reduce the Fund’s returns. The Fund’s
investments in other asset-backed securities are subject to risks
similar to those associated with mortgage-backed securities, as well as
additional risks associated with the nature of the assets and the
servicing of those assets.

Because the Fund is concentrated in the financials sector, it will be
more susceptible to adverse economic or regulatory occurrences affecting
this sector, such as changes in interest rates, availability and cost of
capital funds, and competition.

Use of leverage can result in additional risk and cost, and can magnify
the effect of any losses.

The risks of investing in the Fund are spelled out in the prospectus,
shareholder report and other regulatory filings.

The information presented is not intended to constitute an investment
recommendation for, or advice to, any specific person. By providing this
information, First Trust is not undertaking to give advice in any
fiduciary capacity within the meaning of ERISA and the Internal Revenue
Code. First Trust has no knowledge of and has not been provided any
information regarding any investor. Financial advisors must determine
whether particular investments are appropriate for their clients. First
Trust believes the financial advisor is a fiduciary, is capable of
evaluating investment risks independently and is responsible for
exercising independent judgment with respect to its retirement plan

The Fund’s daily closing New York Stock Exchange price and net asset
value per share as well as other information can be found at
or by calling 1-800-988-5891.


JEFF MARGOLIN – (630) 915-6784

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