WHEATON, Ill.--(BUSINESS WIRE)--Second paragraph, second to last sentence should read: The Fund will continue to list and trade its shares on NASDAQ (instead of The Fund will continue to list and trade its shares on NYSE)
The corrected release reads:
INTERNATIONAL MULTI-ASSET DIVERSIFIED INCOME INDEX FUND ANNOUNCES CHANGES TO INVESTMENT OBJECTIVE, FUND NAME, TICKER SYMBOL AND MANAGEMENT FEE
International Multi-Asset Diversified Income Index Fund (Nasdaq: YDIV) (the “Fund”), an exchange-traded index fund and a series of First Trust Exchange-Traded Fund VI (the “Trust”), announced today that the Board of Trustees (“Board”) of the Trust has approved changes to the Fund’s investment objective. On or around August 29, 2018, the Fund will seek investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the S&P International Dividend Aristocrats Index (the “New Index”) and normally will invest at least 90% of its net assets (including investment borrowings) in securities comprising the New Index. The New Index will be developed, maintained and sponsored by S&P Opco, LLC (“S&P”), an affiliate of Standard & Poor's Financial Services LLC.
The Board of the Trust also approved a reduction in the annual management fee payable by the Fund to First Trust Advisors L.P. (“FTA”), the Fund’s investment adviser, from 0.70% of the Fund’s average daily net assets to 0.60% of the Fund’s average daily net assets. FTA will manage the investment of the Fund’s assets and will be responsible for the Fund’s expenses, including the cost of transfer agency, custody, fund administration, licensing fees, legal, audit and other services, but excluding fee payments under the Investment Management Agreement, interest, taxes, brokerage commissions and other expenses connected with the execution of portfolio transactions, distribution and service fees related to a Rule 12b-1 plan, if any, acquired fund fees and expenses, and extraordinary expenses, which are paid by the Fund. The reduction in the management fee will have no effect on the services provided to the Fund by FTA and will be effective on or around August 29, 2018. It is also anticipated that on or around August 29, 2018, the Fund will change its name to First Trust S&P International Dividend Aristocrats ETF. The Fund will continue to list and trade its shares on NASDAQ under the ticker symbol YDIV until August 29, 2018, at which time the Fund will list and trade its shares on the Nasdaq Stock Market LLC under the ticker symbol “FID”. The Fund will obtain a new CUSIP and other identifiers.
The New Index is designed to provide broad international (excluding the United States) equity exposure to the 80 securities in the S&P Global Broad Market Index that exhibit high levels of income by growing or maintaining a consistent dividend over a long time horizon.
FTA, the Fund's investment advisor, 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 $126 billion as of May 31, 2018 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.
You should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. Contact First Trust Portfolios L.P. at 1-800-621-1675 or visit www.ftportfolios.com to obtain a prospectus or summary prospectus which contains this and other information about the Fund.
Standard & Poor's® and S&P® are registered trademarks of S&P and have been licensed for use by FTA. The Fund is not sponsored, endorsed, sold or promoted by S&P or its affiliates, and S&P and its affiliates make no representation, warranty or condition regarding the advisability of buying, selling or holding shares of the Fund.
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, FTA is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA and the Internal Revenue Code. FTA 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. FTA 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.