First Trust Strategic High Income Fund Increases Its Monthly Distribution for December to $0.16 Per Share
21 November 2005 - 11:51PM
Business Wire
First Trust Strategic High Income Fund (the "Fund") (NYSE:FHI)
today declared the Fund's regularly scheduled monthly distribution,
payable on December 12, 2005 to shareholders of record as of
December 5, 2005. The ex-dividend date is expected to be December
1, 2005. The monthly distribution information for the Fund appears
below. -0- *T First Trust Strategic High Income Fund (FHI):
--------------------------------------------- Distribution per
share:..........................................$0.16 Distribution
Rate based on the November 18, 2005 NAV of
$19.04:......................................................10.08%
Distribution Rate based on the November 18, 2005 closing market
price of $18.67:.........................................10.28%
Increase from the previous distribution of
$.1550:...............3.23% *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. The fund
does not employ leverage. The majority, and possibly all, of this
distribution will be paid out of net investment income earned by
the Fund. A portion of this distribution may come from net
short-term realized capital gains or return of capital. The final
determination of the source and tax status of all distributions
paid in 2005 will be made after the end of 2005. First Trust
Advisors L.P. acts as the Fund's investment advisor and currently
manages or supervises approximately $21 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 adviser or sub-adviser
to approximately $4.8 billion in assets as of September 30, 2005,
which consists of two mutual funds, 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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