First Trust Strategic High Income Fund Declares Monthly Distribution for July of $0.16 Per Share
20 Juni 2007 - 11:38PM
Business Wire
First Trust Strategic High Income Fund (the "Fund") (NYSE: FHI)
today declared the Fund�s regularly scheduled monthly distribution,
payable on July 16, 2007 to shareholders of record as of July 5,
2007. The ex-dividend date is expected to be July 2, 2007. 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 June 19, 2007 NAV of $18.91:.....10.15%
Distribution Rate based on the June 19, 2007 closing market price
of
$19.70:..........................................................9.75%
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 2007 will be made after the end
of 2007. 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 below-investment grade debt securities.
The Fund employs leverage. First Trust Advisors L.P. acts as the
Fund�s investment advisor and currently manages or supervises
approximately $32 billion in assets. Valhalla Capital Partners,
LLC, the Fund�s sub-adviser (�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 50 years combined industry experience and the
investment team has an average of over 11 years experience in
working with high-yield and structured finance securities. Valhalla
currently manages approximately $675 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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