TSX Symbol FHT.UN
TORONTO, April 21 /CNW/ - First Trust/Highland Capital Floating Rate
Income Fund ("the Fund") announces a change in its monthly distribution.
Effective immediately the annualized distribution rate will be reduced from
5.00% to 2.50% on the initial subscription price of $10.00 per unit. The
distribution for the month of April 2009 will be $ 0.0208 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 continued weakness 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 February 28, 2015.
For further information:
For further information: First Defined Portfolio Management Co., (416)
865-8065, (877) 622-5552