Bringing you live news and features since 2006 

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

RELATED TOPICS​

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.

Latest News

Figment Europe, a provider of institutional staking infrastructure, writes that it is solidifying its presence in the heart of Europe’s..
Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..

Related Articles

Ryan McCormack, Invesco
This year sees the 25th anniversary of Invesco’s QQQ, the USD240 billion ETF – the fifth largest ETF in the...
ETFs
The European ETF market achieved a record 28 per cent growth – reaching over USD1.8 trillion assets under management (AUM)...
Sal Esposito, Zacks Investment Management
Zacks Investment Management started doing investment research in 1978 and in 1992 started its investment management arm, initially with SMAs...
Jeremy Senderowicz, Vedder Price
Jeremy Senderowicz, a member of the Investment Services Group at law firm Vedder Price, has witnessed a steady upswing in...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by