First Trust Strategic High Income Fund Declares Initial Monthly Distribution of $0.1542 Per Share
20 September 2005 - 10:15PM
Business Wire
First Trust Strategic High Income Fund (the "Fund") (NYSE:FHI)
today declared the Fund's first monthly distribution, payable on
October 17, 2005 to shareholders of record as of October 5, 2005.
The ex-dividend date is expected to be October 3, 2005. The monthly
distribution information for the Fund appears below. -0- *T First
Trust Strategic High Income Fund (FHI):
--------------------------------------------- Distribution per
share: $0.1542 Distribution Rate based on the September 19, 2005
NAV of $19.26: 9.61% Distribution Rate based on the September 19,
2005 closing market price of $19.85: 9.32% *T The Fund is a
closed-end management investment company that seeks to provide a
high level of current income. As a secondary objective, the Fund
seeks to provide capital growth. The Fund pursues these investment
objectives by investing at least 80% of its managed assets in a
diversified portfolio of high income producing securities that the
sub-adviser believes offer attractive yield and capital
appreciation potential. First Trust Advisors L.P. acts as the
Fund's investment advisor and currently manages or supervises
approximately $20 billion in assets. Hilliard Lyons Asset
Management ("HLAM") is the Fund's sub-adviser. HLAM is a division
of J.J.B. Hilliard, W.L. Lyons, Inc., which is an indirect
wholly-owned subsidiary of The PNC Financial Services Group, Inc.
("PNC"). PNC, a publicly-held financial holding company, provides
commercial and retail banking and other financial services in the
areas of investment banking, asset management, mutual funds,
trusts, securities brokerage, insurance, leasing, and mortgage
banking. HLAM serves as investment sub-adviser to approximately
$4.8 billion in assets as of June 30, 2005, which consists of one
mutual fund, one money market fund, and separately managed accounts
and trust assets. HLAM or its predecessors have been managing
assets since 1967. 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. Principal Risk Factors: Investment in
this Fund involves investment and market risk, management risk,
value investing risk, below-investment grade securities risk,
fixed-income securities risk, mortgage-backed securities risk,
asset-backed securities risk, convertible securities risk,
municipal securities risk, foreign securities risk, foreign
government securities risk, equity securities risk, currency risk,
distressed securities risk, preferred stock risk,
inflation/deflation risk, market discount risk, leverage risk,
derivatives risk, market disruption risk, portfolio turnover risk,
and illiquid/restricted securities risk. 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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