First Trust Advisors L.P. Announces Continuation of Share Repurchase Programs for Certain Closed-End Funds
March 10 2020 - 4:17PM
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 (4.35% of outstanding FSD shares, 4.91% of
outstanding FEO shares and 4.18% of outstanding FAM shares) or (ii)
March 15, 2021.
Fund
Number of Shares Available for
Repurchase through March 15, 2021
First Trust High Income Long/Short
Fund
1,496,664
First Trust/Aberdeen Emerging Opportunity
Fund
248,240
First Trust/Aberdeen Global Opportunity
Income Fund
533,527
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 $138 billion as of February 29, 2020 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, FTA is not undertaking to give
advice in any fiduciary capacity within the meaning of ERISA and
the Internal Revenue Code. FTA 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. FTA 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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