First Trust Strategic High Income Fund III Declares its Monthly Common Share Distribution of $0.0325 Per Share for August
21 7월 2011 - 5:26AM
Business Wire
First Trust Strategic High Income Fund III (the "Fund") (NYSE:
FHO) has declared the Fund’s regularly scheduled monthly common
share distribution payable on August 15, 2011 to shareholders of
record as of August 3, 2011. The ex-dividend date is expected to be
August 1, 2011. The monthly distribution information for the Fund
appears below.
First Trust
Strategic High Income Fund III (FHO):
Distribution per share: $0.0325 Distribution Rate based on
the July 19, 2011 NAV of $4.99: 7.82% Distribution Rate based on
the July 19, 2011 closing market price of $4.55: 8.57%
Various factors affect the Fund's level of distributable income,
including the asset mix and average maturity of its portfolio
holdings and its use of leverage and hedging. The Fund anticipates
that interest income of the Fund generated by certain credit
impaired securities is likely to decrease over time, resulting in a
decrease in the amount of distributable income in the future,
absent any changes to the factors mentioned above.
Principal write-downs by issuers of the Fund’s residential
mortgage and other structured securities have significantly
contributed to the Fund’s historical return of capital
distributions. The tax character of the Fund’s fiscal year to date
distributions, including this distribution, will depend on the
Fund’s investment experience during the remainder of its fiscal
year, including any additional principal write-downs by the issuers
of the Fund’s securities. While it is uncertain what will transpire
over the remainder of the Fund’s fiscal year, it is likely that the
Fund’s current fiscal year distributions will include a return of
capital component. The final determination of the source and tax
status of all 2011 distributions will be made after the end of
2011.
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 up to 100% of
its managed assets in a diversified portfolio of below-investment
grade and investment grade debt securities and equity securities
that the investment sub-advisor believes offer attractive yield
and/or 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 competitive
municipal underwritings, with collective assets under management or
supervision of approximately $51 billion as of June 30, 2011
through unit investment trusts, exchange-traded funds, closed-end
funds, mutual funds and separate managed accounts.
Brookfield Investment Management Inc., the Fund’s investment
sub-advisor, is a global investment advisor focused on specialized
equity and fixed income securities investments. The firm is a
subsidiary of Brookfield Asset Management Inc., a leading global
asset manager with over $150 billion in assets under management as
of June 30, 2011 and over 100 years of experience in the property,
power and infrastructure industries. Brookfield Investment
Management Inc. is an SEC registered investment advisor, and with
its affiliates had approximately $24 billion in assets under
management as of June 30, 2011. Headquartered in New York, the firm
maintains offices and investment teams in Chicago, Boston, London,
Hong Kong, Sydney and Toronto.
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 debt 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.
First Trust First Trust Strategic High Income Fund Iii Common Shares of Beneficial Interest (NYSE:FHO)
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First Trust First Trust Strategic High Income Fund Iii Common Shares of Beneficial Interest (NYSE:FHO)
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