First Trust Advisors L.P. Announces Continuation of Share Repurchase Programs for Certain Closed-End Funds
13 March 2019 - 7:30AM
Business Wire
First Trust Advisors L.P. (“FTA”) is pleased to announce that
the Board of Trustees of each of First Trust High Income Long/Short
Fund (NYSE: FSD), First Trust/Aberdeen Emerging Opportunity Fund
(NYSE: FEO), and First Trust/Aberdeen Global Opportunity Income
Fund (NYSE: FAM) has authorized the continuation of each Fund’s
Share Repurchase Program. Pursuant to each Fund’s Share Repurchase
Program, each Fund may, from time to time and at the direction of
management personnel, repurchase up to the amount of shares in each
Fund’s Share Repurchase Program described below in secondary market
transactions in accordance with applicable law. Each Fund’s Share
Repurchase Program will continue until the earlier of (i) the
repurchase of the amount of shares remaining in each Fund’s Share
Repurchase Program as noted below (5% of outstanding shares for FSD
and FEO and 4.18% of outstanding shares for FAM, the remaining
amount in FAM’s Share Repurchase Program) or (ii) March 15,
2020.
Fund
Number of Shares Available for
Repurchase through March 15, 2020
First Trust High Income Long/Short Fund 1,730,614 First
Trust/Aberdeen Emerging Opportunity Fund 253,070 First
Trust/Aberdeen Global Opportunity Income Fund 533,927
Each Fund’s repurchase activity will be disclosed in its
shareholder report for the relevant fiscal period. There is no
assurance that any Fund will purchase shares at any specific levels
or in any specific amounts.
The risks of investing in each Fund are spelled out in its
respective shareholder reports, and other regulatory filings. Each
Fund’s daily closing price and net asset value per share as well as
other information can be found at www.ftportfolios.com or by
calling (800) 988-5891.
FTA is a federally registered investment advisor and serves as
the Funds’ 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 $125 billion as of February 28, 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.
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
clients.
This press release does not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction.
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version on businesswire.com: https://www.businesswire.com/news/home/20190312005902/en/
First Trust Advisors L.P.Press Inquiries: Jane Doyle,
630-765-8775Analyst Inquiries: Jeff Margolin, 630-765-7643Broker
Inquiries: Jeff Margolin, 630-765-7643
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