First Trust Strategic High Income Fund Declares Monthly Distribution for May of $0.16 Per Share
21 April 2008 - 11:48PM
Business Wire
First Trust Strategic High Income Fund (the "Fund") (NYSE: FHI)
today declared the Fund�s regularly scheduled monthly distribution,
payable on May 15, 2008 to shareholders of record as of May 5,
2008. The ex-dividend date is expected to be May 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 April 18, 2008 NAV of $10.64:
18.05% Distribution Rate based on the April 18, 2008 closing market
price of $11.70: 16.41% 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-advisor believes offer attractive yield and capital
appreciation potential. The Fund employs leverage. First Trust
Advisors L.P., the Fund�s investment advisor, along with its
affiliate First Trust Portfolios L.P., are privately-held companies
which provide a variety of investment services, including asset
management, financial advisory services, and municipal and
corporate investment banking, with collective assets under
management or supervision of over $32 billion as of March 31, 2008
through closed-end funds, unit investment trusts, mutual funds,
separate managed accounts and exchange-traded funds. Valhalla
Capital Partners, LLC, the Fund�s investment sub-advisor
(�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 12 years experience in working with high-yield and
structured finance securities. Valhalla managed approximately $425
million in assets as of March 31, 2008. 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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