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First Trust SSI Strategic Convertible Securities ETF notified of upcoming acquisition of its investment sub-adviser


Resolute Investment Managers is to acquire a majority interest in SSI Investment Management (SSI) the investment sub-adviser responsible for portfolio management of the First Trust SSI Strategic Convertible Securities ETF (the fund), a series of First Trust Exchange-Traded Fund IV.

Based upon information provided to the fund, it believes that the consummation of the Transaction may be considered an “assignment” (as defined in the Investment Company Act of 1940, as amended) of the investment sub-advisory agreement among the Fund, SSI and First Trust Advisors (First Trust), the Fund’s investment advisor, which would result in its automatic termination. First Trust and the Fund’s Board of Trustees will evaluate the impact of the Transaction on the fund.
The fund is an actively managed exchange-traded fund that seeks to provide total return by investing at least 80 per cent of its net assets in a portfolio of US and non-US convertible securities.
First Trust is a federally registered investment advisor and serves as the Fund’s investment advisor. First Trust and its affiliate First Trust Portfolios (FTP), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. First Trust has collective assets under management or supervision of approximately USD113 billion as of 31 December 2018 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. First Trust is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. First Trust and FTP are based in Wheaton, Illinois.

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