First Trust Announces Shareholder Approval of New Investment Sub-Advisory Agreement and “Manager of Managers” Structure for First Trust SSI Strategic Convertible Securities ETF (Nasdaq: FC...
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 the 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 for the Fund (1) a new investment sub-advisory agreement (the “New Sub-Advisory Agreement”) among the Trust, on behalf of the Fund, FTA, as investment advisor, and SSI Investment Management LLC (“SSI”), as investment sub-advisor, and (2) a “manager of managers” structure (the “Manager of Managers Structure”).New Sub-Advisory Agreement. SSI (or its predecessor entity, SSI Investment Management Inc.) has served as the investment sub-advisor to the Fund since the Fund’s inception and continues to sub-advise the Fund. Resolute Investment Managers, Inc. (“RIM”), an indirect wholly-owned subsidiary of Resolute Topco, Inc. (“Topco”), has held a majority ownership interest in SSI since
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