CORRECTING and REPLACING First Trust Announces Shareholder Approval of First Trust Dynamic Europe Equity Income Fund’s Reorganization into First Trust Active Global Quality Income ETF
- Shareholders of First Trust Dynamic Europe Equity Income Fund have approved the reorganization into First Trust Active Global Quality Income ETF. The reorganization is expected to be tax-free and is anticipated to close on or around November 20, 2023.
- None.
The updated release reads:
FIRST TRUST ANNOUNCES SHAREHOLDER APPROVAL OF FIRST TRUST DYNAMIC
First Trust Advisors L.P. (“FTA”) announced today that shareholders of First Trust Dynamic Europe Equity Income Fund (NYSE: FDEU), a closed-end management investment company, managed by FTA and sub-advised by Janus Henderson Investors, have approved the reorganization of FDEU into First Trust Active Global Quality Income ETF (“AGQI”), an actively managed exchange-traded fund (“ETF”) that will be traded on the NYSE Arca and will be managed by FTA and sub-advised by Janus Henderson Investors. As previously announced, the reorganization was approved by the Boards of Trustees of FDEU and AGQI on March 22, 2023. Subject to the satisfaction of certain customary closing conditions, the reorganization of FDEU into AGQI is expected to close on or around November 20, 2023. No assurance can be given as to the exact timing of the closing of the transaction.
Upon the completion of the reorganization, which is expected to be tax-free, the assets of FDEU will be transferred to, and the liabilities of FDEU will be assumed by, AGQI. The shareholders of FDEU will receive shares of AGQI with a value equal to the aggregate net asset value of the shares of FDEU held by them.
FDEU is a diversified, closed-end management investment company that seeks to provide a high level of current income with a secondary focus on capital appreciation. Under normal market conditions, FDEU pursues its investment objectives by investing at least
AGQI is an actively managed ETF that seeks income with the potential for capital growth over the longer-term. AGQI pursues these investment objectives by investing primarily in income-producing equity securities, and will typically invest at least
FTA is a federally registered investment advisor and serves as the investment advisor of FDEU and AGQI. 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
Janus Henderson Investors US LLC, a legal entity of Janus Henderson Investors, serves as FDEU’s and AGQI’s investment sub-advisor. Janus Henderson Group is a leading global active asset manager dedicated to helping clients define and achieve superior financial outcomes through differentiated insights, disciplined investments, and world-class service. As of June 30, 2023, Janus Henderson had approximately
Additional Information about the Proposed Reorganization and Where to Find It
This press release is not intended to, and shall not, constitute an offer to purchase or sell shares of FDEU or AGQI. Certain statements made in this news release that are not historical facts are referred to as “forward-looking statements” under the
An investor should carefully consider the investment objectives, risks, charges and expenses of FDEU or AGQI, as applicable, before investing. The prospectuses for FDEU and AGQI contain this and other important information and are available free of charge by calling toll-free at 1-800-621-1675 or writing FDEU or AGQI at 120 East Liberty Drive, Suite 400,
View source version on businesswire.com: https://www.businesswire.com/news/home/20231023342102/en/
Dan Lindquist – (630) 517-8692
Chris Fallow – (630) 517-7628
Jim Dykas – (630) 517-7665
Source: First Trust Advisors L.P.
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