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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): October 18, 2023
______________________________
First Trust Mortgage Income Fund
(Exact name of registrant as specified in its charter)
Massachusetts |
811-21727 |
35-6758396 |
(State or other jurisdiction |
(Commission File Number) |
(IRS Employer |
of incorporation) |
|
Identification No.) |
120 East Liberty Drive, Suite 400
Wheaton, Illinois
(Address of principal executive offices) |
60187
(zip code) |
Registrant’s telephone number, including area
code: (630) 765-8000
_______________________________________________________
(Former Name or Former Address, if Changed Since Last
Report.)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
☐ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
☐ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of class |
Trading Symbol |
Name of Exchange on which registered |
Common stock, $0.01 par value per share |
FMY |
New York Stock Exchange |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 7.01 | Regulation FD Disclosure. |
First Trust Mortgage Income Fund (the "Fund")
is filing herewith a press release issued on October 18, 2023, as Exhibit 99.1. The press release was issued by First Trust Advisors
L.P. (“FTA”) to report that on October 20, 2023, First Trust Advisors L.P. (“First”), investment sub-advisor
for the Fund, will release an update on the market and the Fund. Details regarding the update are contained in the press release included
herein.
| Item 9.01 | Financial
Statements and Exhibits. |
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: October 18, 2023 |
|
FIRST TRUST MORTGAGE INCOME FUND |
|
|
|
|
By: |
/s/ W. Scott Jardine |
|
Name |
W. Scott Jardine |
|
Title: |
Secretary |
EXHIBIT INDEX
PRESS RELEASE |
SOURCE: First Trust Advisors L.P. |
First Trust Advisors L.P. Announces
Portfolio Manager Update for First Trust Mortgage Income Fund
WHEATON, IL — (BUSINESS WIRE) —
October 18, 2023 — First Trust Advisors L.P. ("FTA") announced today that the Securitized Products Group of FTA, portfolio
manager of First Trust Mortgage Income Fund (NYSE: FMY) (the “Fund”), will release an update on the market and the Fund for
financial professionals and investors. To listen to the update, click on the following link:
FMY Replay
10/20/2023
The update will be available Friday, October 20, 2023, at
5:00 P.M. Eastern Time until 11:59 P.M. Eastern Time on Sunday, November 19, 2023
FTA is a federally registered investment
advisor and serves as the Fund's 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 $195 billion as of September 30, 2023 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.
Principal Risk Factors: Risks are inherent
in all investing. Certain risks applicable to the Fund are identified below, which includes the risk that you could lose some or all of
your investment in the Fund. The principal risks of investing in the Fund are spelled out in the Fund's annual shareholder reports. The
order of the below risk factors does not indicate the significance of any particular risk factor. The Fund also files reports, proxy statements
and other information that is available for review.
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. There can be no assurance that the Fund's investment objectives will be achieved. The Fund may not be appropriate
for all investors.
Market risk is the risk that a particular
security, or shares of a fund in general may fall in value. Securities are subject to market fluctuations caused by such factors as general
economic conditions, political events, regulatory or market developments, changes in interest rates and perceived trends in securities
prices. Shares of a fund could decline in value or underperform other investments as a result. In addition, local, regional or global
events such as war, acts of terrorism, spread of infectious disease or other public health issues, recessions, natural disasters or other
events could have significant negative impact on a fund.
Current market conditions risk is the
risk that a particular investment, or shares of the fund in general, may fall in value due to current market conditions. As a means to
fight inflation, the Federal Reserve and certain foreign central banks have raised interest rates and expect to continue to do so, and
the Federal Reserve has announced that it intends to reverse previously implemented quantitative easing. Recent and potential future bank
failures could result in disruption to the broader banking industry or markets generally and reduce confidence in financial institutions
and the economy as a whole, which may also heighten market volatility and reduce liquidity. In February 2022, Russia invaded Ukraine which
has caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, and the United
States. The hostilities and sanctions resulting from those hostilities have and could continue to have a significant impact on certain
fund investments as well as fund performance and liquidity. The COVID-19 global pandemic, or any future public health crisis, and the
ensuing policies enacted by governments and central banks have caused and may continue to cause significant volatility and uncertainty
in global financial markets, negatively impacting global growth prospects.
The debt securities in which the Fund
invests are subject to certain risks, including issuer risk, reinvestment risk, prepayment risk, credit risk, interest rate risk and liquidity
risk.. Issuer risk is the risk that the value of fixed-income securities may decline for a number of reasons which directly relate to
the issuer. Reinvestment risk is the risk that income from the Fund's portfolio will decline if the Fund invests the proceeds from matured,
traded or called bonds at market interest rates that are below the Fund portfolio's current earnings rate. Prepayment risk is the risk
that, upon a prepayment, the actual outstanding debt on which the Fund derives interest income will be reduced. Credit risk is the risk
that an issuer of a security will be unable or unwilling to make dividend, interest and/or principal payments when due and that the value
of a security may decline as a result. Interest rate risk is the risk that fixed-income securities will decline in value because of changes
in market interest rates. Liquidity risk is the risk that illiquid and restricted securities may be difficult to value and to dispose
of at a fair price at the times when the Fund believes it is desirable to do so.
A mortgage-backed security may be negatively
affected by the quality of the mortgages underlying such security and the structure of its issuer. For example, if a mortgage underlying
a particular mortgage-backed security defaults, the value of that security may decrease. Moreover, a downturn in the markets for residential
or commercial real estate or a general economic downturn could negatively affect both the price and liquidity of privately issued mortgage-backed
securities. A portion of the Fund's managed assets may be invested in subordinated classes of mortgage-backed securities. Such subordinated
classes are subject to a greater degree of non-payment risk than are senior classes of the same issuer or agency.
The London Interbank Offered Rate ("LIBOR")
has ceased to be made available as a reference rate. Any potential effects of the transition away from LIBOR on the fund or on certain
instruments in which the fund invests is difficult to predict and could result in losses to the fund. The unavailability or replacement
of LIBOR may affect the value, liquidity or return on certain fund investments and may result in costs incurred in connection with closing
out positions and entering into new trades.
Investments in asset-backed or mortgage-backed
securities offered by non-governmental issuers, such as commercial banks, savings and loans, private mortgage insurance companies, mortgage
bankers and other secondary market issuers are subject to additional risks.
The primary risks associated with the
use of futures contracts are (a) the imperfect correlation between the change in market value of the instruments or indices underlying
the futures contracts and the price of the futures contracts; (b) possible lack of a liquid secondary market for a futures contract and
the resulting inability to close a futures contract when desired; (c) losses caused by unanticipated market movements, which are potentially
unlimited; (d) the investment adviser's inability to predict correctly the direction of securities prices, interest rates, currency exchange
rates and other economic factors; and (e) the possibility that the counterparty will default in the performance of its obligations.
If a security sold short increases in
price, the Fund may have to cover its short position at a higher price than the short sale price, resulting in a loss.
Repurchase agreements are subject to the
risk of failure. If the Fund's counterparty defaults on its obligations and the Fund is delayed or prevented from recovering the collateral,
or if the value of the collateral is insufficient, the Fund may realize a loss.
Use of leverage can result in additional
risk and cost, and can magnify the effect of any losses.
The risks of investing in the Fund are
spelled out in the shareholder reports and other regulatory filings.
The information presented is not intended
to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking
to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial
professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether
investments are appropriate for their clients.
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.
CONTACT: JEFF MARGOLIN — (630) 915-6784
____________________________
Source: First Trust Advisors L.P.
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