First Trust Advisors L.P. Announces New Investment Objective, Name Change, Change in Listing Exchange & Ticker Symbol Change ...
31 Mai 2013 - 10:39PM
Business Wire
First Trust Advisors L.P., a registered investment advisor, is
pleased to announce a new investment objective for First Trust
Strategic Value Index Fund (the “Fund”), an exchange-traded index
fund and series of First Trust Exchange-Traded Fund (the “Trust”).
Effective June 3, 2013, the Fund will seek investment results that
correspond generally to the price and yield (before the Fund’s fees
and expenses) of an equity index called The Capital Strength Index
(“New Index”). The Fund will normally invest at least 90% of its
net assets plus the amount of any borrowings for investment
purposes in common stocks that comprise the New Index.
The Fund also changed its name to First Trust Capital Strength
ETF. Starting June 3, 2013, the Fund’s shares will be listed and
principally traded on The NASDAQ Stock Market under the ticker
symbol “FTCS” and will no longer be listed on the NYSE Arca under
the ticker symbol “FDV”. The Fund’s CUSIP number has not
changed.
The Fund’s investment objective and the 90% investment strategy
are non-fundamental policies and may be changed by the Board of
Trustees of the Trust without shareholder approval upon 60 days’
prior written notice to shareholders. The Fund previously sought
investment results that corresponded generally to the price and
yield (before fees and expenses) of the Credit Suisse U.S. Value
Index, Powered by Holt™.
The New Index is developed, maintained and sponsored by The
NASDAQ OMX Group, Inc. (“NASDAQ OMX” or the “Index Provider”). In
constructing the New Index, the Index Provider begins with the
largest 500 U.S. companies included in the NASDAQ US Benchmark
Index and excludes the following: companies with less than $1
billion in cash and short term investments; companies with
long-term debt divided by market capitalization greater than 30%;
and companies with return on equity less than 15%. The Index
Provider then ranks all remaining stocks in the universe by
one-year and three-month daily volatility (one-year and three-month
daily volatility factors are equally weighted), and selects the top
50 companies, subject to a maximum weight of 30% from any one of
the ten Industry Classification Benchmark industries. The stocks in
the New Index are equally weighted initially and on each
reconstituting and rebalancing effective date. The New Index is
reconstituted and rebalanced on a quarterly basis. The inception
date of the New Index was March 20, 2013 and its ticker symbol is
NQCAPST.
First Trust Advisors L.P. (“First Trust”) has served as the
Fund’s investment advisor since the Fund’s inception. First Trust,
along with its affiliate First Trust Portfolios L.P., are
privately-held companies which provide a variety of investment
services, including asset management and financial advisory
services, with collective assets under management or supervision of
approximately $68 billion as of April 30, 2013, through unit
investment trusts, exchange-traded funds, closed-end funds, mutual
funds and separate managed accounts.
You should consider the Fund’s investment objective, risks,
charges and expenses carefully before investing. You can download a
prospectus or contact First Trust Portfolios L.P. at 1-800-621-1675
to request a prospectus, which contains this and other information
about the Fund. Read it carefully before you invest. The risks of
investing in the Fund are spelled out in its prospectus,
shareholder reports and other regulatory filings.
The Fund’s shares will change in value, and you could lose money
by investing in the Fund. One of the principal risks of investing
in the Fund is market risk. Market risk is the risk that a
particular stock owned by the Fund, Fund shares or stocks in
general may fall in value.
The Fund’s return may not match the return of the index. The
Fund may not be fully invested at times. Securities held by the
Fund will generally not be bought or sold in response to market
fluctuations and the securities may be issued by companies
concentrated in a particular industry.
Investors buying or selling Fund shares on the secondary market
may incur brokerage commissions. Investors who sell Fund shares may
receive less than the share’s net asset value. Shares may be sold
throughout the day on the exchange through any brokerage account.
However, shares may only be redeemed directly from the Fund by
authorized participants, in very large creation/redemption
units.
NASDAQ® and The Capital Strength Index™ are trademarks (the
“Marks”) of NASDAQ OMX (collectively, with its affiliates
“NASDAQ”). The Marks are licensed by First Trust for use with the
Fund. The Fund has not been passed on by NASDAQ as to its legality
or suitability. The Fund is not issued, endorsed, sold, or promoted
by NASDAQ. The Fund should not be construed in any way as
investment advice by NASDAQ. NASDAQ makes no warranties and bears
no liability with respect to the Fund.
The Fund is classified as “non-diversified.” A non-diversified
Fund generally may invest a larger percentage of its assets in the
securities of a smaller number of issuers. As a result, the Fund
may be more susceptible to the risks associated with these
particular companies, or to a single economic, political or
regulatory occurrence affecting these companies.
This press release does not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction.
First Trust Advisors L.P.Press Inquiries: Jane Doyle,
630-765-8775Analyst Inquiries: Eric Anderson, 630-517-7676Broker
Inquiries: Ryan Issakainen, 630-765-8689
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