WHEATON, Ill.–(COMMERCIAL WIRE)–Replace the release dated September 2, 2022 with the following version fixed due to multiple revisions.
The updated statement says:
FIRST TRUST ADVISORS LP ANNOUNCES PORTFOLIO MANAGER UPDATE FOR FIRST TRUST ENHANCED EQUITY FUND INCOME
First Trust Advisors LP (“FTA”) today announced that Chartwell Investment Partners LLC (“Chartwell”), a sub-investment advisor to FFA (NYSE: FFA) (the “Fund”), will publish a market and Fund update for professionals financiers and investors. To listen to the update, click on the following link:
The update will be available. Wednesday, September 7, 2022 at 5:00 pm ET through Thursday, October 6, 2022 at 11:59 pm ET.
The Fund is a diversified, closely held investment company that seeks to provide a high level of current income and earnings and, to a lesser extent, capital appreciation. The Fund seeks to achieve its investment objective by investing in a diversified portfolio of equity securities.
FTA is a federally registered investment adviser and serves as the Fund’s investment adviser. FTA and its affiliate First Trust Portfolios LP (“FTP”), a FINRA-registered broker-dealer, are private companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $196 billion as of July 31, 2022 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. FTA is the supervisor of the investment trusts of the First Trust unit, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are headquartered in Wheaton, Illinois.
Chartwell serves as the Fund’s sub-investment advisor and is an investment firm that focuses on institutional, sub-advisory and private client relationships. The firm is a research-based equity and fixed income manager with a team-oriented and disciplined investment process. As of July 31, 2022, Chartwell had approximately $10.8 billion in assets under management.
Main risk factors: Risks are inherent in any investment. Certain risks applicable to the fund are identified below. The main risks of investing in the fund are detailed in the fund’s shareholder reports. The order of the following risk factors does not indicate the importance of any particular risk factor.
Past performance is no guarantee of future results. The investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost. There can be no guarantee that the Fund’s investment objectives will be achieved. The Fund may not be suitable for all investors.
The securities held by a fund, as well as the shares of a fund itself, are subject to market fluctuations caused by factors such as general economic conditions, political events, regulatory or market developments, changes in interest rates and perceived trends in security prices. A fund’s shares may lose value or underperform other investments as a result of the risk of loss associated with these market fluctuations. In addition, local, regional or global events such as wars, acts of terrorism, the spread of infectious diseases or other public health issues, recessions or other events could have a significant negative impact on a fund and its investments. Such events may affect certain geographic regions, countries, sectors and industries more significantly than others. In February 2022, Russia invaded Ukraine, which has caused and could continue to cause significant market disruption and volatility in Russia, Europe and the United States. Hostilities and sanctions resulting from such hostilities could have a significant impact on certain investments of the fund, as well as the performance of the fund. The outbreak of the respiratory disease called COVID-19 in December 2019 has caused significant volatility and declines in global financial markets, resulting in losses for investors. While the development of vaccines has slowed the spread of the virus and allowed “reasonably” normal business to resume in the United States, many countries continue to impose lockdown measures in an attempt to slow the spread. Also, there is no guarantee that vaccines will be effective against emerging variants of the disease.
Shares of closed-end investment companies, such as the Fund, frequently trade at a discount to their net asset value. The Fund cannot predict whether its common shares will trade above, below or below the net asset value.
The Fund may write (sell) covered call options on all or part of the equity securities held in the Fund’s portfolio. The use of options may require the Fund to sell portfolio securities at inopportune times or at prices other than current market values, may limit the amount of appreciation the Fund can obtain from an investment, or may cause the Fund to maintain a value of equities that you might otherwise sell.
Premiums for writing (selling) call options and dividends and interest payments made on securities in the Fund’s portfolio may vary widely over time.
An adverse event affecting an issuer of equity securities, such as an unfavorable earnings report, may reduce the value of a particular equity security held by the Fund. In addition, the prices of equity securities are sensitive to general movements in the stock market and a decline in the stock market may depress the prices of the equity securities to which the Fund has exposure. There is no guarantee that the issuers of the equity securities in which the Fund invests will declare dividends in the future or that, if declared, they will remain at current levels. There can be no guarantee as to what portion of the distributions paid to Common Shareholders of the Fund will consist of tax-advantaged qualified dividend income.
Investing in non-US securities is subject to the risk of currency fluctuations and the economic and political risks associated with such foreign countries.
The Fund may not invest 25% or more of its total assets in securities of issuers in a single industry. If the Fund is focused on one industry, it may be more risky than if it were broadly diversified across many industries in the economy.
The risks of investing in the Fund are detailed in the shareholders’ reports and other regulatory documents.
The information presented is not intended to constitute investment recommendation or advice to any specific person. In providing this information, First Trust is not undertaking to render advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code, or any other regulatory framework. Financial professionals are responsible for independently evaluating investment risks and exercising independent judgment in determining whether investments are appropriate for their clients.
The daily closing price on the New York Stock Exchange and the Fund’s net asset value per share, as well as other information, can be found at www.ftportfolios.com or by calling 1-800-988-5891.
