First Trust/Aberdeen Global Opportunity Income Fund & First Trust/Aberdeen Emerging Opportunity Fund Announce Changes to Non-...
March 15 2021 - 3:10PM
Business Wire
First Trust/Aberdeen Global Opportunity Income
Fund (NYSE: FAM) and First Trust/Aberdeen Emerging Opportunity Fund
(NYSE: FEO) (the “Funds”) announced today that their Board of
Trustees has approved changes to the Funds’ non-fundamental
investment policies as described herein.
Each of the Funds will revise its investment policies to add the
following:
- The Fund may invest up to 10% of its Managed Assets in forward
foreign exchange contracts (both deliverable and
non-deliverable).
Under the new policy, each Fund may use forward foreign exchange
contracts for purposes of hedging or to gain investment exposure to
certain foreign currencies. The remaining investment policies of
the Funds will remain unchanged, including the policy providing
that the Funds may invest only up to 5% of their respective Managed
Assets in non-deliverable forward foreign exchange contracts. The
Funds anticipate that the changes to their investment policies will
be implemented on or around May 24, 2021.
FAM is a diversified, closed-end management investment company
which commenced investment operations in November 2004. FAM’s
primary investment objective is to seek a high level of current
income. As a secondary objective, FAM seeks capital
appreciation.
FEO is a diversified, closed-end management investment company
which commenced investment operations in August 2006. FEO’s
investment objective is to provide a high level of total
return.
First Trust Advisors L.P. (“FTA”), the Fund’s investment
advisor, is a federally registered investment advisor. FTA and its
affiliate First Trust Portfolios L.P. (“FTP”), a FINRA registered
broker-dealer, are privately-held companies that provide a variety
of investment services. FTA has collective assets under management
or supervision of approximately $179 billion as of February 28,
2021 through unit investment trusts, exchange-traded funds,
closed-end funds, mutual funds and separate managed accounts. FTA
is the supervisor of the First Trust unit investment trusts, while
FTP is the sponsor. FTP is also a distributor of mutual fund shares
and exchange-traded fund creation units. FTA and FTP are based in
Wheaton, Illinois.
Aberdeen Standard Investments Inc. (“ASII”) serves as the Funds’
investment sub-advisor. ASII is an indirect wholly-owned subsidiary
of Standard Life Aberdeen plc. Aberdeen Standard Investments is the
brand name for the asset management group of Standard Life Aberdeen
plc, managing approximately $624 billion in assets as of December
31, 2020, for a range of pension funds, financial institutions,
investment trusts, unit trusts, offshore funds, charities and
private clients.
The Funds’ daily closing New York Stock Exchange prices and net
asset values per share as well as other information, including
information relating to the Funds’ investment objectives and
policies, risk considerations and expenses, can be found at
www.ftportfolios.com or by calling 1-800-988-5891.
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version on businesswire.com: https://www.businesswire.com/news/home/20210315005763/en/
First Trust/Aberdeen Global Opportunity Income Fund or First
Trust/Aberdeen Emerging Opportunity Fund Press Inquiries: Jane
Doyle, 630-765-8775 Analyst Inquiries: Jeff Margolin, 630-915-6784
Broker Inquiries: Jeff Margolin, 630-915-6784
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