The First Trust Enhanced Equity Income Fund functions as a closed-ended equity mutual fund, originally launched and primarily managed by First Trust Advisors L.P. Chartwell Investment Partners, L.P. additionally serves as a co-manager. This fund strategically allocates capital within the public equity markets of the United States, seeking investments in companies across a broad spectrum of sectors and diverse market capitalizations. A key aspect of its strategy involves the writing of covered call options. The fund's portfolio performance is measured against the S&P 500 Index. Established in the United States on August 26, 2004, it was previously recognized as the First Trust/Fiduciary Asset Management Covered Call Fund.