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First Trust/Aberdeen Emerging Opportunity Fund (FEO)
Investment Objective/Strategy - First Trust/Aberdeen Emerging Opportunity Fund is a diversified, closed-end management investment company. The Fund's investment objective is to provide a high level of total return. The Fund will pursue its investment objective by investing at least 80% of its managed assets in a diversified portfolio of equity and fixed-income securities of issuers in emerging market countries.
There can be no assurance that the Fund's investment objectives will be achieved.
Fund Overview
TickerFEO
Fund TypeEmerging Markets Total Return
Investment AdvisorFirst Trust Advisors L.P.
Portfolio Manager/Sub-AdvisorAberdeen Asset Management Inc.
Investor Servicing AgentBNY Mellon Investment Servicing (US) Inc.
CUSIP33731K102
Fiscal Year-End12/31
ExchangeNYSE
Inception8/28/2006
Inception Price$20.00
Inception NAV$19.10
Current Fund Data (as of 7/22/2014)
Closing NAV1$21.80
Closing Share Price2$19.47
Discount to NAV10.69%
Total Managed Assets$121,970,955
Common Shares Outstanding5,327,785
Dividend FrequencyQuarterly
Dividend Per Share Amt3$0.3500
Distribution Rate47.19%
Daily Volume32,179
Average 30-Day Daily Volume14,173
Closing Share Price 52-Week High/Low$19.75 / $17.05
Closing NAV 52-Week High/Low$21.89 / $19.42
Expense Ratios (as of 12/31/2013)
Annual ExpensesPercent of
Net Assets
Percent of
Managed
Assets
Management Fees1.05%1.00%
Other Expenses
0.63%
0.61%
Total Operating Expenses1.68%1.61%
 
Leverage Costs0.07%0.07%
 
Total Annual Expenses1.75%1.68%
 
Leverage costs include interest, fees and any upfront/offering costs associated with borrowings by the Fund.
Leverage Information (as of 7/22/2014)6
Total Net Assets with Leverage$121,970,955
Amount Attributable to Common Shares$116,170,955
Amount Attributable to Preferred Shares$0
Amount Attributable to Other Borrowings$5,800,000
Leverage (% of Total Net Assets)4.76%
Credit Quality Breakdown for Bonds (as of 5/31/2014)7
  Credit Quality Percent
A 10.42%
A- 8.09%
BBB+ 13.76%
BBB 15.46%
BBB- 9.23%
BB+ 4.66%
BB 6.68%
BB- 8.21%
B+ 8.16%
B 10.02%
B- 1.92%
CCC 0.50%
NR 2.89%
The credit quality and ratings information presented above reflect the ratings assigned by one or more nationally recognized statistical rating organizations (NRSROs), including Standard & Poor's Rating Group, a division of the McGraw Hill Companies, Inc., Moody's Investors Service, Inc., Fitch Ratings, or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest ratings are used. Sub-investment grade ratings are those rated BB+/Ba1 or lower. Investment grade ratings are those rated BBB-/Baa3 or higher. The credit ratings shown relate to the credit worthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change.
Share Price and NAV History (Since Inception)
Past performance is not indicative of future results.
% Premium/Discount (Since Inception)
Cumulative Total Returns (as of 6/30/2014)5
Period Share Price NAV
3 Months 7.99% 5.94%
1 Year 8.91% 9.10%
3 Years 13.11% 15.60%
5 Years 87.90% 83.99%
Year to Date 9.89% 7.67%
Inception to Date 79.30% 110.05%
Calendar Year Returns (as of 12/31/2013)5
Period Share Price NAV
2007 12.53% 15.74%
2008 -41.48% -33.94%
2009 94.01% 69.25%
2010 26.45% 23.29%
2011 -10.17% -4.18%
2012 32.02% 24.36%
2013 -12.13% -6.49%
Average Annual Returns (as of 6/30/2014)5
Period Share Price NAV
3 Years 4.19% 4.95%
5 Years 13.45% 12.97%
Inception to Date 7.73% 9.93%
Currency Exposure (as of 5/31/2014)7
Exposure Percent
Total Investment Exposure to US Currency 41.84%
The above represents U.S. dollar denominated assets and foreign currency denominated assets hedged back into U.S. dollars.
Asset Type Breakdown (as of 5/31/2014)7
Asset Percent
Fixed Income 53.07%
Equity 46.93%
Top 10 Holdings (as of 5/31/2014)7
Holding Percent
Brazil Notas do Tesouro Nacional, Series F, 10.00%, 1/1/17 5.14%
Mexican Bonos, 8.50%, 11/18/38 2.82%
Samsung Electronics Co., Ltd., Preference Shares 2.67%
Turkey Government Bond, 9.00%, 1/27/16 2.01%
Taiwan Semiconductor Manufacturing Co., Ltd. 1.92%
China Mobile Ltd. 1.58%
Banco Bradesco S.A., ADR 1.57%
Peruvian Government International Bond, 6.95%, 8/12/31 1.50%
South Africa Government Bond, 10.50%, 12/21/26 1.44%
Housing Development Finance Corp. 1.41%
Footnotes
1 The NAV represents the fund's net assets (assets less liabilities) divided by the fund's common shares outstanding.
2 Fund shares are purchased and sold on an exchange at their share price rather than net asset value (NAV), which may cause the shares to trade at a price greater than NAV (premium) or less than NAV (discount).
3 Most recent distribution paid or declared through today's date. Subject to change in the future.
4 Distribution rates are calculated by annualizing the most recent distribution paid or declared through today's date and then dividing by the most recent market price. The distribution consists of the sum of net investment income, net realized short-term capital gains, net realized long-term capital gains, and return of capital. Distribution rates may vary. Any distribution adjustment will not be reflected until after the declaration date for the next distribution. See the fund's 19a-1 Notices, if any, located under the "News & Literature" section of the website for estimates of distribution sources. Final determination of the source and tax status of all distributions paid in the current year will be made after year-end.
5 Total return is the combination of reinvested dividend income and reinvested capital gains distributions, at prices obtained by the Dividend Reinvestment Plan, if any, and changes in the NAV and Share Price. The NAV total return takes into account the fund's total annual expenses and does not reflect sales load. Past performance is not indicative of future results.
6 Leverage is a technique where a closed-end fund's manager borrows assets at one rate and invests the proceeds from the borrowed assets at another rate, seeking to increase yield and total return. Use of leverage can result in additional risk and cost, and can magnify the effect of any losses.
7 Market value information used in calculating the percentages is based upon trade date plus one recording of transactions, which can differ from regulatory financial reports (Forms N-CSR and N-Q) that are based on trade date recording of security transactions. Holdings are subject to change.

Risk Considerations

The Fund is subject to various risks, including: Investment and Market Risk, Management Risk, Emerging markets Risk, Equity Securities Risk, Fixed-Income Securities Risk, Interest Rate Risk, Non-Investment Grade Securities Risk, Non-U.S. Securities Risk, Government Securities Risk, Non-U.S. Government Securities Risk, Currency Risk, Preferred Stock Risk, Convertible Securities Risk, Asset-Backed Securities Risk, Credit Linked Notes Risk, Credit Default Swaps Risk, Smaller Capitalization Risk, Market Discount From Net Asset Value, Leverage Risk, Derivatives Risk, Portfolio Turnover Risk, Market Disruption Risk, Inflation Risk, Illiquid/Restricted Securities Risk, Certain Affiliations, Anti-Takeover Provisions, Secondary Market for the Fund's Shares, Lending Portfolio Securities.

Investments in equity or fixed-income securities of issuers located in countries considered to be emerging markets are considered speculative. In addition to the general risks of investing in non-U.S. securities, heightened risks of investing in emerging markets securities include: smaller market capitalization of securities markets, which may suffer periods of relative illiquidity; significant price volatility; restrictions on foreign investment; and possible restrictions on repatriation of investment income and capital. Furthermore, foreign investors may be required to register the proceeds of sales, and future economic or political crises could lead to price controls, forced mergers, expropriation or confiscatory taxation, seizure, nationalization or creation of government monopolies. The currencies of emerging market countries may experience significant declines against the U.S. dollar, and devaluation may occur subsequent to investments in these currencies by the Fund. Inflation and rapid fluctuations in inflation rates have had, and may continue to have, negative effects on the economies and securities markets of certain emerging market countries.

The risks of investing in the Fund are spelled out in the prospectus, shareholder report and other regulatory filings.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value
 
First Trust Portfolios L.P.  Member SIPC and FINRA.
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