First Trust Dynamic Europe Equity Income Fund Declares its Monthly Common Share Distribution of $0.121 Per Share for November
October 21 2019 - 4:45PM
Business Wire
First Trust Dynamic Europe Equity Income Fund (the "Fund")
(NYSE: FDEU) has declared the Fund’s regularly scheduled monthly
common share distribution in the amount of $0.121 per share payable
on November 15, 2019, to shareholders of record as of November 4,
2019. The ex-dividend date is expected to be November 1, 2019. The
monthly distribution information for the Fund appears below.
First Trust Dynamic
Europe Equity Income Fund (FDEU):
Distribution per share:
$0.121
Distribution Rate based on the October 18,
2019 NAV of $15.38:
9.44%
Distribution Rate based on the October 18,
2019 closing market price of $14.08:
10.31%
The Fund's Board of Trustees has approved a managed distribution
policy for the Fund (the "Plan") in reliance on exemptive relief
received from the Securities and Exchange Commission which permits
the Fund to make periodic distributions of long-term capital gains
more frequently than otherwise permitted with respect to its common
shares subject to certain conditions. Under the Plan, the Fund
intends to continue to pay a monthly distribution in the amount of
$0.121 per share. A portion of this monthly distribution may
include long-term capital gains. This may result in a reduction of
the long-term capital gain distribution necessary at year end by
distributing long-term capital gains throughout the year. The
annual distribution rate is independent of the Fund's performance
during any particular period. Accordingly, you should not draw any
conclusions about the Fund's investment performance from the amount
of any distribution or from the terms of the Plan.
This distribution may consist of net investment income earned by
the Fund, net short-term and long-term capital gains and/or tax
deferred return of capital. The final determination of the source
and tax status of all distributions paid in 2019 will be made after
the end of 2019 and will be provided on Form 1099-DIV.
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 focus on capital
appreciation. The Fund will seek to achieve its investment
objective by investing at least 80% of its Managed Assets in a
portfolio of equity securities of European companies of any market
capitalization, including, but not limited to, common and preferred
stocks that pay dividends, depositary receipts and real estate
investment trusts. The Fund will seek to focus its equity
investments on income-producing securities. The Fund will also seek
to utilize a dynamic currency hedging process, which will include,
at the discretion of the portfolio managers, the use of forward
foreign currency exchange contracts to hedge a portion of the
Fund's currency exposure. To generate additional income, the Fund
will write (or sell) call options on portfolio equity securities
and certain broad-based securities indices in an amount up to 40%
of the value of its Managed Assets.
First Trust Advisors L.P. ("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 $134 billion as of
September 30, 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.
Janus Capital Management LLC, a legal entity of Janus Henderson
Investors, serves as the Fund's investment sub-advisor. Janus
Henderson Investors is headquartered in London and is a global
investment management firm that provides a full spectrum of
investment products and services to clients around the world. With
offices in 28 cities with more than 2,000 employees, Janus
Henderson Investors managed approximately $359.8 billion in assets
as of June 30, 2019.
Past performance is no assurance of future results. 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 investors.
Principal Risk Factors: The Fund is subject to risks, including
the fact that it is a non-diversified closed-end management
investment company.
Because the Fund will invest primarily in securities of non-U.S.
issuers, which are generally denominated in non-U.S. currencies,
there are risks not typically associated with investing in
securities of U.S. issuers. Non-U.S. issuers are subject to higher
volatility than securities of U.S. issuers. An investor may lose
money if the local currency of a non-U.S. market depreciates
against the U.S. dollar.
Investments in securities of issuers located in emerging market
countries are considered speculative and there is a heightened risk
of investing in emerging markets securities.
The Fund will engage in practices and strategies that will
result in exposure to fluctuations in foreign exchange rates, thus
subjecting it to foreign currency risk.
The Fund's use of derivatives may result in losses greater than
if they had not been used, may require the Fund to sell or purchase
portfolio securities at inopportune times, may limit the amount of
appreciation the Fund can realize on an investment, or may cause
the Fund to hold a security that it might otherwise sell.
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
shareholder reports 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,
the Internal Revenue Code or any other regulatory framework.
Financial advisors are responsible for evaluating investment risks
independently and for exercising independent judgment in
determining whether investments are appropriate for their
clients.
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
www.ftportfolios.com or by calling 1-800-988-5891.
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