First Trust Strategic High Income Fund Declares Monthly Common Share Distribution for December of $0.16 Per Share
21 November 2008 - 1:29AM
Business Wire
First Trust Strategic High Income Fund (the "Fund") (NYSE: FHI)
today declared the Fund�s regularly scheduled monthly distribution,
payable on December 12, 2008 to shareholders of record as of
December 3, 2008. The ex-dividend date is expected to be December
1, 2008. The monthly distribution and cash balance information for
the Fund appears below. ďż˝ First Trust Strategic High Income Fund
(FHI): Distribution per share: $0.16 Distribution Rate based on the
November 19, 2008 NAV of $5.73: 33.51% Distribution Rate based on
the November 19, 2008 closing market price of $4.91: 39.10% Cash
Balance on November 19, 2008: $0 or 0.00% of Net Assets 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.
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 $19 billion as of October 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 $265
million in assets as of September 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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