First Trust Advisors L.P. Announces Portfolio Manager Update Call for First Trust Intermediate Duration Preferred & Income Fund
First Trust Advisors L.P. (“FTA”) announced today that First Trust
Intermediate Duration Preferred & Income Fund (NYSE: FPF) intends to
host a conference call with Stonebridge Advisors LLC, the Fund’s
investment sub-advisor, on Monday, August 5,
2013 at 4:15 P.M. Eastern Time. The purpose of the call is to
hear the Fund’s portfolio management team provide an update for the Fund.
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Dial-in Number: (866) 865-6631; International (706) 679-1727; and
Passcode # 19832707. Please call 10 to 15 minutes before the
scheduled start of the teleconference.
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Telephone Replay: (800) 585-8367; International (404) 537-3406; and
Passcode # 19832707. The replay will be available after the call
until 11:59 P.M. Eastern Time on Friday, September 5, 2013.
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First Trust Advisors L.P., the Fund’s investment advisor, along with its
affiliate, First Trust Portfolios L.P., are privately-held companies
which provide a variety of investment services, including asset
management and financial advisory services, with collective assets under
management or supervision of approximately $70 billion as of June 30,
2013, through unit investment trusts, exchange-traded funds, closed-end
funds, mutual funds and separate managed accounts.
Stonebridge Advisors LLC (“Stonebridge”), the fund’s sub-advisor, is a
registered investment advisor specializing in preferred and hybrid
securities. Stonebridge was formed in December 2004 by First Trust
Portfolios L.P. and Stonebridge Asset Management, LLC. The company had
assets under management or supervision of approximately $3.43 billion as
of June 30, 2013. These assets come from separately managed accounts, an
open-end mutual fund, an actively managed exchange-traded fund and the
Fund.
If you have questions about the Fund that you would like answered on the
call, please email your questions to cefquestions@ftadvisors.com
in advance of the call and refer to FPF, by Thursday, August 1, 2013,
6:00 P.M.
The Fund is a non-diversified, closed-end management investment company
that seeks to provide a high level of current income. The Fund has a
secondary objective of capital appreciation. The Fund will seek to
achieve its investment objectives by investing in preferred and other
income-producing securities. Under normal market conditions, the Fund
will invest at least 80% of its Managed Assets in a portfolio of
preferred and other income-producing securities issued by U.S. and
non-U.S. companies, including traditional preferred securities, hybrid
preferred securities that have investment and economic characteristics
of both preferred securities and debt securities, floating rate and
fixed-to-floating rate preferred securities, debt securities,
convertible securities and contingent convertible securities.
Past performance is no assurance of future results. 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.
Principal Risk Factors: Investment in this Fund involves investment and
market risk, market discount from net asset value risk, management risk,
preferred and hybrid preferred securities risk, trust preferred
securities risk, debt securities risk, credit crisis liquidity and
volatility risk, convertible securities/contingent convertible
securities risk, risks of concentration in the financial sector,
government intervention in the financial markets risk, REIT risk, credit
and below investment grade securities risk, credit rating agency risk,
leverage risk, foreign (non-U.S.) securities risk, emerging markets
risk, common stock risk, U.S. government securities risk, foreign
government securities risk, municipal securities risk, illiquid and
restricted securities risk, valuation risk, inflation/deflation risk,
potential conflicts of interest risk, new types of securities risk,
counterparty and prime brokerage risk, portfolio turnover risk,
non-diversified shares risk, market disruption, geopolitical risk, risk
related to certain affiliations and anti-takeover provisions, temporary
defensive strategies risk, risks related to the secondary market for the
fund’s common shares and risks related to changes in law.
The Fund is designed for long-term investing and not as a vehicle for
trading. Shares of closed-end investment companies frequently trade at a
discount from their net asset value ("NAV"). The Fund cannot predict
whether or when its common shares will trade at, below or above NAV or
at, below or above the initial public offering price.
Below investment-grade securities, which are commonly referred to as
"junk" or "high-yield" securities, while generally offering higher
yields than investment-grade debt with similar maturities, involve
greater risks, including the possibility of dividend or interest
deferral, default or bankruptcy, and are regarded as predominantly
speculative with respect to the issuer's capacity to pay dividends or
interest and repay principal. See "Credit and Below Investment-Grade
Securities Risk" in the "Additional Risk Considerations" section in the
prospectus.
The risks of investing in the Fund are spelled out in the prospectus,
shareholder report and other regulatory filings.
The Fund’s daily New York Stock Exchange closing price and net asset
value per share as well as other related information can be found at www.ftportfolios.com
or by calling 1-800-988-5891.
Copyright Business Wire 2013