First Trust Closed-End Funds Announce Board’s Decision to Rescind the Funds’ Control Share By-Law
23 Giugno 2023 - 3:25PM
Business Wire
First Trust Advisors L.P.:
Macquarie/First Trust Global Infrastructure/Utilities Dividend
& Income Fund (NYSE: MFD) First Trust Senior Floating Rate
Income Fund II (NYSE: FCT) First Trust Energy Income and Growth
Fund (NYSE American: FEN) First Trust Enhanced Equity Income Fund
(NYSE: FFA) First Trust/abrdn Global Opportunity Income Fund (NYSE:
FAM) First Trust Mortgage Income Fund (NYSE: FMY) First Trust
Specialty Finance and Financial Opportunities Fund (NYSE: FGB)
First Trust High Income Long/Short Fund (NYSE: FSD) First Trust
Energy Infrastructure Fund (NYSE: FIF) First Trust MLP and Energy
Income Fund (NYSE: FEI) First Trust Intermediate Duration Preferred
& Income Fund (NYSE: FPF) First Trust New Opportunities MLP
& Energy Fund (NYSE: FPL) First Trust Dynamic Europe Equity
Income Fund (NYSE: FDEU) First Trust High Yield Opportunities 2027
Term Fund (NYSE: FTHY) (each a “Fund” and collectively, the
“Funds”)
After a thorough review, and consistent with the best interests
of each Fund, the Board of Trustees of each Fund (collectively, the
“Board”) has determined to rescind the control share provisions of
each of the above-listed Funds’ by-laws (the “Control Share
By-Law”). The Board has adopted Amended and Restated By-Laws (the
“By-Laws”) for the Funds, which reflect the rescission of the
Control Share By-Law.
Under the Control Share By-Law, a holder of common shares of a
Fund who obtained beneficial ownership of common shares in a
“Control Share Acquisition” (as such term was defined in the
Control Share By-Law) could exercise voting rights with respect to
such shares only to the extent authorized by such Fund’s
non-interested shareholders. The Control Share By-Law did not
eliminate voting rights for shares acquired in a Control Share
Acquisition, but rather entrusted a Fund’s non-interested
shareholders with determining whether to approve the authorization
of voting rights of such shares. Following the rescission of the
Control Share By-Law, all prior and new purchases of shares of a
Fund that otherwise would have been a Control Share Acquisition
shall no longer be considered a Control Share Acquisition and the
accompanying limitations on the voting rights of any shareholder
shall no longer be effective, notwithstanding any prior
applications of the Control Share By-Law.
Investors should refer to the By-Laws for more information,
which can be found in the Current Report on Form 8-K filed by each
respective Fund with the Securities and Exchange Commission
(available at www.sec.gov). The By-Laws may also be obtained by
writing the Secretary of the Fund at the Fund’s principal executive
office.
This press release is not intended to, and does not, constitute
an offer to purchase or sell shares of any Fund, nor is this press
release intended to solicit a proxy from any shareholder of any
Fund.
Each Fund’s daily closing 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.
First Trust Advisors L.P. (“FTA”) is a federally registered
investment advisor and serves as the Funds’ 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 $190 billion as of May
31, 2023 through unit investment trusts, exchange-traded funds,
closed-end funds, mutual funds and separately 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.
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Jim Dykas 630-517-7665 Dan Lindquist 630-517-8692
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