First Trust Strategic High Income Fund Declares Monthly Common Share Distribution for August of $0.16 Per Share
22 Juli 2008 - 12:20AM
Business Wire
First Trust Strategic High Income Fund (the "Fund") (NYSE:FHI)
today declared the Fund�s regularly scheduled monthly distribution,
payable on August 15, 2008 to shareholders of record as of August
5, 2008. The ex-dividend date is expected to be August 1, 2008. The
monthly distribution information for the Fund appears below. First
Trust Strategic High Income Fund (FHI): Distribution per share: ďż˝
$0.16 Distribution Rate based on the July 18, 2008 NAV of $9.05:
21.22 % Distribution Rate based on the July 18, 2008 closing market
price of $10.06: 19.09 % 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
diversified, 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 investment 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
June 30, 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 $370
million in assets as of June 30, 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, non-U.S. securities
risk, non-U.S. 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. The risks of investing in
the Fund are spelled out in the prospectus, shareholder report, and
other regulatory filings. 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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