First Trust/abrdn Global Opportunity Income Fund - FAM STOCK NEWS

The Board of Trustees of abrdn Income Credit Strategies Fund (NYSE:ACP) has announced that the previously approved reorganization with First Trust/abrdn Global Opportunity Income Fund (NYSE:FAM) is expected to close on September 20, 2024. FAM shares will cease trading on the NYSE at market close on that date, and FAM shareholders will receive newly issued ACP shares based on relative net asset values. The combined fund's net assets are estimated to be approximately $845 million as of August 21, 2024.

This reorganization aims to benefit shareholders by realizing economies of scale, increasing the fund's scale, liquidity, and marketability. The move is expected to ensure the viability of the resulting combined fund and provide greater opportunities for shareholders.

First Trust/abrdn Global Opportunity Income Fund (NYSE: FAM) has declared a monthly common share distribution of $0.06 per share, payable on September 16, 2024, to shareholders of record as of September 3, 2024. The ex-dividend date is expected to be September 3, 2024. Based on the August 19, 2024 NAV of $6.70, the distribution rate is 10.75%, and based on the closing market price of $6.41, it's 11.23%.

The Fund seeks to provide a high level of current income and capital appreciation by investing in a diversified portfolio of investment grade and below-investment grade government and corporate debt securities in world bond markets. First Trust Advisors L.P. serves as the Fund's investment advisor, with abrdn Inc. as the sub-advisor. The Fund's total assets under management are approximately $235 billion as of July 31, 2024.

abrdn Income Credit Strategies Fund (NYSE:ACP) has announced that shareholders of First Trust/abrdn Global Opportunity Income Fund (NYSE:FAM) have approved the proposed reorganization into ACP. The reorganization is targeted to complete by the end of September 2024, subject to closing conditions. FAM shares will cease trading on the NYSE, and shareholders will receive new ACP shares based on relative net asset values. Post-reorganization, ACP's combined net assets are estimated at $830 million.

The reorganization aims to benefit shareholders through economies of scale, increased fund size, enhanced liquidity, and improved marketability. It's expected to ensure the viability of the resulting combined fund. The press release emphasizes that this information is for informational purposes only and does not constitute an offer to sell or solicitation of an offer to buy securities.

First Trust Advisors L.P. announced that shareholders of First Trust/abrdn Global Opportunity Income Fund (NYSE: FAM) have approved its reorganization with and into abrdn Income Credit Strategies Fund (ACP) at a special meeting on July 25, 2024. The reorganization, previously approved by FAM's Board of Trustees on October 23, 2023, is expected to close by September 30, 2024, subject to customary conditions.

Upon completion of the tax-free reorganization, FAM's assets will be transferred to ACP, and FAM shareholders will receive ACP shares of equal aggregate net asset value. First Trust Advisors L.P., FAM's investment advisor, manages approximately $228 billion in assets as of June 30, 2024.

First Trust/abrdn Global Opportunity Income Fund (NYSE: FAM) has declared its monthly common share distribution of $0.06 per share for August, payable on August 15, 2024, to shareholders of record as of August 1, 2024. The ex-dividend date is expected to be August 1, 2024. Based on the July 19, 2024 NAV of $6.54, the distribution rate is 11.01%, and based on the closing market price of $6.36, it's 11.32%.

The Fund seeks to provide a high level of current income and capital appreciation by investing in a diversified portfolio of investment grade and below-investment grade government and corporate debt securities in world bond markets. First Trust Advisors L.P. serves as the Fund's investment advisor, with abrdn Inc. as the sub-advisor. The Fund's total assets under management were approximately $228 billion as of June 30, 2024.

First Trust Advisors L.P. (FTA) has adjourned the special meeting of shareholders of First Trust/abrdn Global Opportunity Income Fund (NYSE: FAM) initially held on July 11, 2024. The adjournment is intended to allow additional time for shareholder votes on the proposed reorganization with abrdn Income Credit Strategies Fund (ACP). The meeting will reconvene on July 25, 2024, at 12:30 PM Central time in Wheaton, Illinois. Shareholders of record as of October 23, 2023, are eligible to vote. Voting can be done via methods outlined in the previously mailed proxy materials. The Boards of Trustees recommend a 'FOR' vote for the reorganization.

FTA, a registered investment advisor, oversees approximately $228 billion in assets through various investment vehicles. The proxy statement is available on the FTA website and the SEC's website. For voting assistance, shareholders can contact EQ Fund Solutions,

First Trust/abrdn Global Opportunity Income Fund (NYSE: FAM) has declared a monthly common share distribution of $0.06 per share, payable on July 15, 2024, to shareholders of record as of July 1, 2024. The ex-dividend date is also July 1, 2024. With a distribution rate of 10.99% based on NAV of $6.55 and 11.16% based on market price of $6.45, this payout includes net investment income and possibly net short-term realized capital gains. The Fund, aiming for high current income and secondary capital appreciation, invests in a diversified portfolio of investment-grade and below-investment-grade global debt securities. First Trust Advisors L.P. manages the Fund, while abrdn Inc. acts as sub-advisor. Investors should be aware of risks including market, credit, interest rate, and emerging market risks, among others. For further details, visit the Fund's website or contact the provided inquiry numbers.

First Trust Advisors announced the adjournment of the special meeting of shareholders of First Trust/abrdn Global Opportunity Income Fund (FAM) initially held on June 18, 2024. The purpose of the meeting is to vote on the reorganization of FAM into abrdn Income Credit Strategies Fund (ACP). The meeting is rescheduled to July 11, 2024, at 12:30 PM Central Time. Shareholders of record as of October 23, 2023, are entitled to vote. The adjournment aims to allow additional time for shareholder voting.

Shareholders are encouraged to read the proxy statement and accompanying materials available online for detailed information on the reorganization. For assistance in voting, they may contact EQ Fund Solutions. The Fund's Board of Trustees recommends voting in favor of the reorganization. First Trust Advisors supervises assets totaling approximately $226 billion as of May 31, 2024.

First Trust Advisors announced the outcome of a joint special meeting of shareholders for First Trust High Income Long/Short Fund (FSD) and First Trust/abrdn Global Opportunity Income Fund (FAM), held on May 30, 2024. Shareholders have approved the reorganization of FSD with and into abrdn Income Credit Strategies Fund (ACP), with the transition expected to close by July 2024. Upon completion, FSD's assets will transfer to ACP, and FSD shareholders will receive ACP shares of equal value. However, the special meeting for FAM has been adjourned to June 18, 2024, to allow more time for shareholder voting.