First Trust Strategic High Income Fund Declares Monthly Distribution for February of $0.16 Per Share
22 Januar 2008 - 11:44PM
Business Wire
First Trust Strategic High Income Fund (the "Fund") (NYSE:FHI)
today declared the Fund�s regularly scheduled monthly distribution,
payable on February 15, 2008 to shareholders of record as of
February 5, 2008. The ex-dividend date is expected to be February
1, 2008. 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 January 18, 2008
NAV of $12.70: 15.12 % Distribution Rate based on the January 18,
2008 closing market price of $11.87: 16.18 % 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 2008 will be made after the end
of 2008. 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 employs
leverage. First Trust Advisors L.P. acts as the Fund�s investment
advisor and currently manages or supervises approximately $33
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 $500 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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