TMCnet - World's Largest Communications and Technology Community



First Trust SSI Strategic Convertible Securities ETF Notified of Upcoming Acquisition of its Investment Sub-Advisor
[January 10, 2019]

First Trust SSI Strategic Convertible Securities ETF Notified of Upcoming Acquisition of its Investment Sub-Advisor

First Trust SSI Strategic Convertible Securities ETF (the "Fund") (Nasdaq: FCVT), a series of First Trust Exchange-Traded Fund IV (the "Trust"), announced today that it has been informed that Resolute Investment Managers, Inc. has announced an agreement to acquire a majority interest in SSI Investment Management Inc. ("SSI"), the Fund's investment sub-advisor responsible for portfolio management of the Fund (the "Transaction"). Based upon information provided to the Fund, the Fund believes that the consummation of the Transaction may be considered an "assignment" (as defined in the Investment Company Act of 1940, as amended) of the investment sub-advisory agreement among the Fund, SSI and First Trust Advisors L.P. ("First Trust"), the Fund's investment advisor, which would result in its automatic termination. First Trust and the Fund's Board of Trustees will evaluate the impact of the Transaction on the Fund.

The Fund is an actively managed exchange-traded fund that seeks to provide total return by investing at least 80% of its net assets in a portfolio of U.S. and non-U.S. convertible securities.

First Trust is a federally registered investment advisor and serves as the Fund's investment advisor. First Trust 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. First Trust has collective assets under management or supervision of approximately $113 billion as of December 31, 2018 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. First Trust 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. First Trust and FTP are based in Wheaton, Illinois.

The Fund's daily closing price and net asset value per share as well as other information can be found at or by calling 1-800-988-5891.

[ Back To's Homepage ]

Technology Marketing Corporation

35 Nutmeg Drive Suite 340, Trumbull, Connecticut 06611 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments:
Comments about this site:


© 2019 Technology Marketing Corporation. All rights reserved | Privacy Policy