First Trust Announces Shareholder Approval of New Investment Sub-Advisory Agreement with SSI Investment Management LLC for First Trust SSI Strategic Convertible Securities ETF
First Trust SSI Strategic Convertible Securities ETF (FCVT)
US:NASDAQ Investor Relations:
ftportfolios.com/retail/etf/etfsummary.aspx?ticker=fcvt
Company Research
Source: Business Wire
WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. (“FTA”) announced today that shareholders of First Trust SSI Strategic Convertible Securities ETF (Nasdaq: FCVT) (the “Fund”), a series of First Trust Exchange-Traded Fund IV (the “Trust”), voted at the special meeting of shareholders to approve a new investment sub-advisory agreement for the Fund among the Trust, FTA and SSI Investment Management LLC (the “New Sub-Advisory Agreement”).FTA previously announced that SSI Investment Management Inc. (“SSI Inc.”) intended to engage in an internal reorganization pursuant to which it would create a subsidiary, SSI Investment Management LLC (“SSI LLC”), and transfer its advisory business to SSI LLC. Such transfer has occurred and, effective June 1, 2019, Resolute Investment Managers, Inc. (“Resolute”) acquired a majority interest in SSI LLC (the “Transaction”). The acquisition of the interests in SSI LLC by Resolute was expected to be considered an “assignment” (as defined in the I
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