First Trust Strategic High Income Fund Declares Monthly Common Share Distribution for October of $0.16 Per Share
22 September 2008 - 2:19PM
Business Wire
First Trust Strategic High Income Fund (the "Fund") (NYSE:FHI)
today declared the Fund�s regularly scheduled monthly distribution,
payable on October 15, 2008 to shareholders of record as of October
3, 2008. The ex-dividend date is expected to be October 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 September 19, 2008
NAV of $7.67: 25.03% Distribution Rate based on the September 19,
2008 closing market price of $6.20: 30.97% 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 $30
billion as of August 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 $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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