First Trust Announces Shareholder Approval of the New Investment Sub-Advisory Agreement for First Trust Enhanced Equity Income Fund
14 Juin 2022 - 3:25PM
Business Wire
First Trust Advisors L.P. (“FTA”) announced today that
shareholders of First Trust Enhanced Equity Income Fund (NYSE: FFA)
(the “Fund”), a closed-end fund, have voted to approve a new
investment sub-advisory agreement with Chartwell Investment
Partners, LLC (“Chartwell”). Earlier this month, Raymond James
acquired substantially all the assets of TriState Capital Holdings
(“TriState”), the parent company of Chartwell (the “Transaction”).
The Transaction operated as an “assignment” of the Fund’s previous
sub-advisory agreement with Chartwell, which automatically
terminated upon the closing of the Transaction. In anticipation of
the Closing, the Board of Trustees of the Fund approved a new
investment sub-advisory agreement (the “New Sub-Advisory
Agreement”) among the Fund, FTA and Chartwell, which was submitted
to shareholders of the Fund for approval at a special meeting of
shareholders.
FTA is a federally registered investment advisor and serves as
the Fund’s investment advisor. 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 $203 billion as of May 31, 2022 through unit
investment trusts, exchange-traded funds, closed-end funds, mutual
funds and separate managed accounts. FTA 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. FTA and FTP are based in Wheaton,
Illinois.
Chartwell has served as the investment sub-advisor to the Fund
since September 14, 2007. Chartwell is an investment firm focusing
on institutional, sub-advisory, and private client relationships.
The firm is a research-based equity and fixed-income manager with a
disciplined, team-oriented investment process. As of May 31, 2022,
Chartwell had approximately $10.9 billion in assets under
management.
This press release contains certain forward-looking statements
within the meaning of the Securities Act of 1933, as amended, and
the Securities Exchange Act of 1934, as amended. Forward-looking
statements include statements regarding the goals, beliefs, plans
or current expectations of FTA and/or Horizon and their respective
representatives, taking into account the information currently
available to them. Forward-looking statements include all
statements that do not relate solely to current or historical fact.
For example, forward-looking statements include the use of words
such as “anticipate,” “estimate,” “intend,” “expect,” “believe,”
“plan,” “may,” “should,” “would,” “will” or other words that convey
uncertainty of future events or outcomes. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or
achievements of a Fund to be materially different from any future
results, performance or achievements expressed or implied by the
forward-looking statements. When evaluating the information
included in this press release, you are cautioned not to place
undue reliance on these forward-looking statements, which reflect
the judgment of FTA and/or Horizon and their respective
representatives only as of the date hereof. No obligation will be
undertaken to publicly revise or update these forward-looking
statements to reflect events and circumstances that arise after the
date hereof.
The Fund’s daily closing price and net asset value per share as
well as other information can be found at www.ftportfolios.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220614005718/en/
First Trust Advisors L.P. Analyst Inquiries: Jeff Margolin,
630-915-6784 Broker Inquiries: Jeff Margolin, 630-915-6784
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