First Trust Announces Shareholder Approval of New Investment Objective for First Trust Taiwan AlphaDEX® Fund
March 19 2018 - 5:46PM
Business Wire
First Trust Advisors L.P. (“FTA”) announced today that the
shareholders of First Trust Taiwan AlphaDEX® Fund (Nasdaq: FTW)
(the “Fund”), an exchange-traded index fund and a series of First
Trust Exchange-Traded AlphaDEX® Fund II, have voted to approve a
new investment objective for the Fund.
FTA previously announced that it was seeking shareholder
approval for the changes to the Fund’s investment objective.
Effective on or about the close of business on April 17, 2018, the
Fund’s new investment objective will be to seek investment results
that correspond generally to the price and yield (before the Fund’s
fees and expenses) of an equity index called the NIFTY 50 Equal
Weight Index (the “Index”). The Index is compiled, calculated and
maintained by India Index Services & Products Limited (“IISL”),
a wholly owned subsidiary of the National Stock Exchange of India.
In addition, the Fund will change its name to First Trust India
NIFTY 50 Equal Weight ETF. The Fund will continue to list and trade
its shares on The Nasdaq Stock Market LLC but will change its
ticker symbol to “NFTY.” When these changes are effective, the
Fund’s shares will also trade under a new CUSIP number.
The Index is an equally weighted total return index designed to
provide diversified exposure to the NIFTY 50 index, the main index
for Indian equity securities. The NIFTY 50 index is a market
capitalization-weighted index comprising the 50 largest and most
liquid Indian equity securities. All constituents of the NIFTY 50
index will be included in the Index, but will be equally
weighted.
The Index has been licensed for use by the Fund. The Fund is not
sponsored, endorsed, sold or promoted by IISL. IISL does not make
any representation or warranty, express or implied, to the owners
of the Fund or any member of the public regarding the advisability
of investing in securities generally or in the Fund particularly or
the ability of the Index to track general stock market performance
in India. IISL does not have any obligation to take the needs of
the Fund or the owners of the Fund into consideration in
determining, composing or calculating the Index. IISL is not
responsible for and has not participated in the determination of
the timing of, prices at, or quantities of the Fund to be issued or
in the determination or calculation of the equation by which the
Fund is to be converted into cash. IISL has no obligation or
liability in connection with the administration, marketing or
trading of the Fund.
IISL does not guarantee the accuracy and/or the completeness of
the Index or any data included therein and it shall have no
liability for any errors, omissions, or interruptions therein. IISL
makes no warranty, express or implied, as to results to be obtained
by the Fund, owners of the Fund, or any other person or entity from
the use of the Index or any data included therein. IISL makes no
express or implied warranties, and expressly disclaims all
warranties of merchantability or fitness for a particular purpose
or use with respect to the Index or any data included therein.
Without limiting any of the foregoing, IISL expressly disclaims any
and all liability for any damages or losses arising out of or
related to the Fund, including any and all direct, special,
punitive, indirect or consequential damages (including lost
profits), even if notified of the possibility of such damages.
An investor, by subscribing or purchasing an interest in the
Fund, will be regarded as having acknowledged, understood and
accepted the disclaimer as mentioned hereinabove and will be bound
by it to the extent permitted by applicable law.
FTA has served as the Fund’s investment advisor since the Fund’s
inception. FTA, 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 $122 billion as of February 28, 2018,
through unit investment trusts, exchange-traded funds, closed-end
funds, mutual funds and separate managed accounts.
You should consider the Fund’s investment objective, risks,
charges and expenses carefully before investing. You can download a
prospectus or contact FTA to request a prospectus, which contains
other information about the Fund. Read it carefully before you
invest. The risks of investing in the Fund are spelled out in its
prospectus, shareholder reports and other regulatory filings.
The information presented is not intended to constitute an
investment recommendation for, or advice to, any specific person.
By providing this information, First Trust is not undertaking to
give advice in any fiduciary capacity within the meaning of ERISA
and the Internal Revenue Code. First Trust has no knowledge of and
has not been provided any information regarding any investor.
Financial advisors must determine whether particular investments
are appropriate for their clients. First Trust believes the
financial advisor is a fiduciary, is capable of evaluating
investment risks independently and is responsible for exercising
independent judgment with respect to its retirement plan
clients.
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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version on businesswire.com: https://www.businesswire.com/news/home/20180319006325/en/
First Trust Advisors L.P.Press Inquiries:Ryan Issakainen,
630-765-8689orAnalyst Inquiries:Stan Ueland, 630-517-7633
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