First Trust Advisors L.P. today announced that the previously disclosed
per share net asset values (NAV) of the First Trust Exchange-Traded
Funds set forth in the table for August 24, 2015 contained errors
greater than 1%. The errors resulted from a technical malfunction at our
third party administrator, The Bank of New York Mellon.
Fund Name
|
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Ticker
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|
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Exchange
|
|
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CUSIP
|
|
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Incorrect NAV
|
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Correct NAV
|
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First Trust ISE Global Engineering and Construction Index Fund
|
|
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FLM
|
|
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NYSE Arca
|
|
|
33736M103
|
|
|
43.7397
|
|
|
43.22
|
|
First Trust NASDAQ Global Auto Index Fund
|
|
|
CARZ
|
|
|
NASDAQ
|
|
|
33734X309
|
|
|
33.7301
|
|
|
33.04
|
|
First Trust CBOE S&P 500 VIX Tail Hedge Fund
|
|
|
VIXH
|
|
|
NYSE Arca
|
|
|
33733E609
|
|
|
23.3615
|
|
|
24.54
|
|
First Trust Low Duration Mortgage Opportunities ETF
|
|
|
LMBS
|
|
|
NASDAQ
|
|
|
33739Q200
|
|
|
52.18248
|
|
|
50.09
|
|
FTA has served as the Funds’ investment advisor since each Fund’s
inception. FTA, along with its affiliate FTP, 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 $118 billion as of July
31, 2015, through unit investment trusts, exchange-traded funds,
closed-end funds, mutual funds and separate managed accounts.
You should consider the investment objectives, risks, charges and
expenses of a Fund before investing. Prospectuses for the Funds contain
this and other important information and are available free of charge by
calling toll-free at 1-800-621-1675 or visiting www.ftportfolios.com.
A prospectus should be read carefully before investing.
Past performance is no assurance of future results. Principal Risk
Factors: A Fund’s shares will change in value, and you could lose money
by investing in a Fund. An investment in a Fund involves risk similar to
those of investing in any fund of equity securities traded on exchanges.
The risks of investing in each Fund are spelled out in its prospectus,
shareholder report, and other regulatory filings.
A Fund that is concentrated in securities of companies in a certain
sector or industry involves additional risks, including limited
diversification. A Fund that invests in companies that are domiciled in
a certain country or region may be subject to additional risks due to
political, economic and social conditions in that country or region. A
Fund which invests in foreign securities may be subject to additional
risks not associated with domestic securities. Such risks may be
heightened in the case of securities of emerging markets countries. An
Index ETF seeks investment results that correspond generally to the
price and yield of an index. You should anticipate that the value of an
Index Fund’s shares will decline, more or less, in correlation with any
decline in the value of the index. An Index Fund’s return may not match
the return of the index. Unlike a Fund, the indices do not actually hold
a portfolio of securities and therefore do not incur the expenses
incurred by a Fund.
An Index ETF seeks investment results that correspond generally to the
price and yield of an index. You should anticipate that the value of an
Index Fund’s shares will decline, more or less, in correlation with any
decline in the value of the index. An Index Fund’s return may not match
the return of the index. Unlike a Fund, the indices do not actually hold
a portfolio of securities and therefore do not incur the expenses
incurred by a Fund. A Fund that is concentrated in securities of
companies in a certain sector or industry involves additional risks,
including limited diversification. A Fund which invests in foreign
securities may be subject to additional risks not associated with
domestic securities. Such risks may be heightened in the case of
securities of emerging markets countries.
An actively managed ETF is subject to management risk because it is an
actively managed portfolio. In managing such a Fund’s investment
portfolio, the portfolio managers will apply investment techniques and
risk analyses that may not have the desired result. There can be no
guarantee that a Fund will meet its investment objective. The First
Trust Low Duration Mortgage Opportunities ETF is subject to cash
transaction risk, counterparty risk, credit risk, high yield securities
risk, illiquid securities risk, income risk, interest rate risk,
management risk, market risk, mortgage-related investments risk, new
fund risk, non-diversification risk, prepayment risk, repurchase
agreement risk, short sales risk and U.S. government and agency
securities risk.
This press release does not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such offer or solicitation or sale
would be unlawful prior to registration or qualification under the laws
of such state or jurisdiction.
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