Investment Objective/Strategy - First Trust Dynamic Europe Equity Income Fund (the "Fund") is a non-diversified, closed-end management investment company. The Fund's investment objective is to provide a high level of current income with a secondary focus on capital appreciation. Under normal market conditions, the Fund will seek to achieve its investment objective by investing at least 80% of its Managed Assets in a portfolio of equity securities of European companies of any market capitalization, including, but not limited to, common and preferred stock that pay dividends, depositary receipts and real estate investment trusts. The Fund will seek to focus its equity investments on income producing securities. The Fund will utilize a dynamic currency hedging process, which will include, at the discretion of the portfolio managers, the use of forward foreign currency exchange contracts to hedge a portion of the Fund's currency exposure. To generate additional income, the Fund currently expects to write (or sell) call options on portfolio equity securities and certain broad-based securities indices in an amount up to 40% of the value of its Managed Assets.
There can be no assurance that the Fund's investment objectives will be achieved.