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FT Portfolios to merge First Trust AlphaDEX Canadian Dividend ETF Into First Trust Canadian Capital Strength ETF

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FT Portfolios Canada, the manager of First Trust AlphaDEX Canadian Dividend ETF (FDY) and First Trust Canadian Capital Strength ETF (FST), is to merge FDY into FST, which will become the continuing fund.

The Proposal is designed to provide holders of units in FDY with several benefits, including broader market exposure. The investment objectives and investment strategy of FDY and FST are similar in that both funds are designed to provide exposure to Canadian equities, however, FST provides unitholders with exposure to a broader investment universe as opposed to just dividend paying equities. The manager believes that the Canadian equity market continues to represent an attractive investment opportunity for FDY Unitholders.
 
The merger is also designed to provide unitholders of FDY with a much larger market capitalisation and the primary and secondary market for units of FST is expected to be more liquid.
 
In addition, FST has existing capital and non-capital tax losses that will carry forward and continue to be available to the continuing fund, which may benefit all unitholders of the continuing fund.

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