TSX Symbol FHM.UN
TORONTO, Jan. 31 /CNW/ - First Trust/Highland Capital Floating Rate
Income Fund II ("the Fund") announces an update on the progress of the
winding up of the Fund. As announced in October, 2010, the independent
members of the board of directors of the manager of the Fund determined
that it is in the best interest of unitholders of the Fund for it to be
The process of liquidating the portfolio of assets of the Fund and First
Trust/Highland Capital Senior Loan Trust is not yet complete. As
assets are liquidated, the proceeds are held in cash and cash
equivalents. Currently, senior loans representing less than 7% of the
Fund's total assets remain to be liquidated. The manager intends to
terminate the Fund on or about March 31, 2011. The Fund intends to
make one or more distributions prior to the termination date.
SOURCE First Trust/Highland Capital Floating Rate Income Fund II
For further information:
First Defined Portfolio Management Co.