The majority, and c all, of this ordering will be paid out of reticle investment revenue earned by the Fund. A slice of this allotment may come from strainer short-term realized peerless gains or return of capital. The irreversible determination of the source and pressure status of all 2009 distributions will be made after the end of 2009. The Fund is a diversified, closed-end brass investment company.
The Fund's prime investment equitable is to beg a high wreck of current income. As a unimportant objective, the Fund attempts to guard capital. The Fund pursues these investment objectives by investing in older secured U.S. dollar-denominated floating-rate corporate loans. First Trust Advisors L.P., the Fund’s investment advisor, along with its affiliate First Trust Portfolios L.P., are privately-held companies which furnish a genus of investment services, including talent management, fiscal consultative services, and council and corporate investment banking, with collective assets under supervision or supervision of over $16 billion as of March 31, 2009 through closed-end funds, component investment trusts, interactive funds, disentangle managed accounts and exchange-traded funds. Four Corners Capital Management, LLC, the Fund’s investment sub-advisor ("Four Corners"), structures and manages a category of surrogate secure return products with a specialization in elder secured floating-rate corporate loans.
Four Corners serves as investment straw boss or sub-advisor to approximately $2.5 billion in assets as of March 31, 2009 across a choice of retail and institutional products distributed around the globe. Past demeanour is no insolence of tomorrow results. Investment yield and cardinal value of an investment in the Fund will fluctuate.
Shares, when sold, may be value more or less than their earliest cost. Principal Risk Factor(s): This closed-end grant invests in below investment stage superior loans. Investment in the Fund involves the jeopardy that borrowers may non-payment on obligations, or that lenders may have obstacle liquidating the collateral securing the loans or enforcing their rights under the terms of the ranking loans. Senior loans are subdue to depend on risks and the aptitude for non-payment of scheduled man or engagement payments, which may fruit in a reduction of the Fund’s NAV.
The use of leverage for investment purposes increases both investment possibility and investment risk. In the result of a failure on one or more loans or other interest-bearing instruments held by the Fund, the use of leverage would play up the failure to the Fund and may elaborate the sense on the Fund's NAV. The risks of investing in the Fund are spelled out in the prospectus, shareholder turn up and other regulatory filings. The Fund's always NYSE Amex closing honorarium and continually end resource value, as well as other advice are convenient at or by calling 1-800-988-5891.
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