First Trust Strategic High Income Fund Declares Monthly Distribution for November of $0.16 Per Share
20 Oktober 2006 - 10:05PM
Business Wire
First Trust Strategic High Income Fund (the "Fund") (NYSE: FHI)
today declared the Fund�s regularly scheduled monthly distribution,
payable on November 15, 2006 to shareholders of record as of
November 3, 2006. The ex-dividend date is expected to be November
1, 2006. The monthly distribution information for the Fund appears
below. First Trust Strategic High Income Fund (FHI): Distribution
per share: $0.16� Distribution Rate based on the October 19, 2006
NAV of $19.71: 9.74% Distribution Rate based on the October 19,
2006 closing market price of $20.75: 9.25% 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 will 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. First
Trust Strategic High Income Fund (the "Fund") (NYSE: FHI) today
declared the Fund's regularly scheduled monthly distribution,
payable on November 15, 2006 to shareholders of record as of
November 3, 2006. The ex-dividend date is expected to be November
1, 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
October 19, 2006 NAV of $19.71: 9.74% Distribution Rate based on
the October 19, 2006 closing market price of $20.75: 9.25% *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 will 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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