First Trust/Highland Capital Floating Rate Income Fund II Change in Monthly Distribution for April 2009



    TSX Symbol FHM.UN

    TORONTO, April 21 /CNW/ - First Trust/Highland Capital Floating Rate
Income Fund II ("the Fund") announces a change in its monthly distribution.
Effective immediately the annualized distribution rate will be reduced from
3.00% to 1.50% on the initial subscription price of $10.00 per unit. The
distribution for the month of April 2009 will be $0.0125 per unit and is
payable on May 14, 2009 to Unitholders of record on April 30, 2009.
    The decision to reduce monthly distributions was made as a result of the
current market environment, the decline in short-term interest rates and the
diminished asset level of the Fund.
    The Fund's investment objectives are to: (i) provide holders of Units
with monthly distributions which will fluctuate with changes in U.S.
short-term interest rates; and, preserve and enhance the net asset value per
Unit in order to return the original subscription price of the Units ($10.00
per Unit) to Unitholders on or about May 31, 2015.





For further information:

For further information: First Defined Portfolio Management Co., (416)
865-8065, (877) 622-5552

Organization Profile

FIRST TRUST/HIGHLAND CAPITAL FLOATING RATE INCOME FUND II

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890