MLP & Strategic Equity Fund Inc. (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is to provide a high level of after-tax total return by investing substantially all of its net assets in a portfolio of publicly traded master limited partnerships (MLPs) operating in the energy infrastructure sector of the market. The Fund will purchase both domestic and international MLPs. The Fund’s investment in MLPs may include ownership of MLP common units and MLP subordinated units. The Fund also may purchase MLP I-Shares (together with the MLPs, the MLP Entities). The Fund’s investment advisor is IQ Investment Advisors LLC (IQ Advisors), an indirect, wholly owned subsidiary of Merrill Lynch & Co., Inc. (ML & Co.), which is a wholly owned subsidiary of Bank of America Corporation (Bank of America). The Fund’s sub-advisor is Fiduciary Asset Management, LLC. Princeton Administrators, LLC acts as the Fund’s administrator.