First Trust Strategic High Income Fund Declares Monthly Distribution for October of $0.16 Per Share
21 September 2006 - 11:17PM
Business Wire
First Trust Strategic High Income Fund (the "Fund") (NYSE:FHI)
today declared the Fund's regularly scheduled monthly distribution,
payable on October 16, 2006 to shareholders of record as of October
4, 2006. The ex-dividend date is expected to be October 2, 2006.
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 September 20, 2006 NAV of
$19.59:......................................................9.80%
Distribution Rate based on the September 20, 2006 closing market
price of $20.44:.........................................9.39% *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. Currently, the fund does
not employ leverage. First Trust Advisors L.P. acts as the Fund's
investment adviser and currently manages or supervises
approximately $26 billion in assets. Valhalla Capital Partners, LLC
("Valhalla") is a boutique asset management firm focused on
managing high-yield portfolios with an emphasis on structured
finance securities. The three managing partners have 47 years
combined industry experience and the investment team has an average
of over 10 years experience in working with high-yield and
structured finance securities. Valhalla currently manages
approximately $400 million in assets. 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. Please see the Fund's
prospectus for additional information on the risks of investing in
the Fund. 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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