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Senior Loan & Limited Duration Closed-End, 32  Ticker: FBDHGX
The Senior Loan & Limited Duration Closed-End Portfolio is a unit investment trust which invests in a diversified portfolio of senior loan and limited duration closed-end funds. The portfolio seeks to provide investors with the potential for high current income.
Product Code: LD2Y32
Portfolio Status: Secondary
Initial Offer Date: 02/27/2013
Secondary Date: 03/13/2013
Portfolio Ending Date: 11/18/2015
Tax Structure: Regulated Investment Company
Distributions: Monthly
Initial Offer Price: $10.0000
NAV(*): $7.4279
POP(*): Not Avail
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 10/08/2015 4:00pm ET
The Public Offering Price (POP) represents the net asset value per unit plus any applicable organization costs and sales charges. The Net Asset Value (NAV) represents the value per unit of a trust’s portfolio securities and other assets reduced by applicable deferred sales charges and other liabilities.

 Estimated Net Annual Distribution Per Unit
Estimated Net Annual Distribution Per Unit * $0.5331
As of 10/05/2015
* The estimates are based on annualizing the most recent dividends declared by the issuers of the securities included in the portfolio. There is no guarantee that the issuers of the securities included in the portfolio will declare distributions in the future or that, if declared, they will either remain at current levels or increase over time.

 Holdings  Export Current Holdings | View Initial Holdings  
 Putnam Premier Income Trust PPT 5.70%
 Cohen & Steers Limited Duration Preferred and Income Fund, Inc. LDP 5.62%
 Invesco Dynamic Credit Opportunities Fund VTA 5.18%
 BlackRock Corporate High Yield Fund, Inc. HYT 5.07%
 BlackRock Floating Rate Income Strategies Fund, Inc. FRA 5.06%
 Eaton Vance Floating-Rate Income Trust EFT 5.01%
 BlackRock Limited Duration Income Trust BLW 5.00%
 Blackstone/GSO Senior Floating Rate Term Fund BSL 4.99%
 Nuveen Credit Strategies Income Fund JQC 4.96%
 Eaton Vance Senior Floating-Rate Trust EFR 4.95%
 Invesco Senior Income Trust VVR 4.92%
 Nuveen Floating Rate Income Fund JFR 4.92%
 Nuveen Mortgage Opportunity Term Fund JLS 4.89%
 Voya Prime Rate Trust PPR 4.87%
 Prudential Short Duration High Yield Fund, Inc. ISD 4.80%
 Blackstone/GSO Strategic Credit Fund BGB 4.73%
 Eaton Vance Limited Duration Income Fund EVV 4.71%
 Wells Fargo Advantage Multi-Sector Income Fund ERC 4.64%
 Deutsche High Income Opportunities Fund, Inc. DHG 2.81%
 Western Asset High Yield Defined Opportunity Fund Inc. HYI 2.44%
 Neuberger Berman High Yield Strategies Fund Inc. NHS 2.41%
 Western Asset High Income Opportunity Fund Inc. HIO 2.31%
Total Number of Holdings:    22
Underlying Securities information represented above is as of 10/08/2015 but will vary with future fluctuations in the market.

Closed-end funds are subject to various risks, including management's ability to meet the fund's investment objective, and to manage the fund's portfolio when the underlying securities are redeemed or sold, during periods of market turmoil and as investors' perceptions regarding the funds or their underlying investments change. Unlike open-end funds, which trade at prices based on a current determination of the fund's net asset value, closed-end funds frequently trade at a discount to their net asset value in the secondary market. Certain closed-end funds may employ the use of leverage which increases the volatility of such funds.

Risks associated with investing in foreign securities may be more pronounced in emerging markets where the securities markets are substantially smaller, less liquid, less regulated and more volatile than the U.S. and developed foreign markets.

An investment in securities of foreign issuers should be made with an understanding of the additional risks involved, such as currency fluctuations, political risk, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers.

Investment grade bonds are subject to numerous risks including higher interest rates, economic recession, deterioration of the investment grade bond market or investors' perception thereof, possible downgrades and defaults of interest and/or principal.

Limited duration bonds are subject to interest rate risk, which is the risk that the value of a security will fall if interest rates increase. While limited duration bonds are generally subject to less interest rate sensitivity than longer duration bonds, there can be no assurance that interest rates will rise during the life of the trust.

The value of mortgage-backed securities will decline with increases in interest rates.The value of mortgage-backed securities will also fluctuate with changes in the general condition of the mortgage-backed securities market, changes in inflation rates or when political or economic events affecting Ginnie Mae occur.

Preferred stocks are equity securities of the issuing company which pay income in the form of dividends. Preferred stocks are typically subordinated to bonds and other debt instruments in a company�s capital structure, and therefore will be subject to greater credit risk than those debt instruments.

An investment in a portfolio containing small-cap companies is subject to additional risks, as the share prices of small-cap companies are often more volatile than those of larger companies due to several factors, including limited trading volumes, products, financial resources, management inexperience and less publicly available information.

Subprime residential mortgage loans are subject to numerous risks, including increased credit risks, higher interest rates, shifts in the market's perception of issuers and regulatory or tax changes adversely affecting the mortgage securities markets.Risks of investing in funds which hold subprime residental mortgage loans are similar to those which affect high-yield securities or �junk� bonds, which include less liquidity, greater volatility and an increased risk of default as compared to higher rated securities.

The value of the securities held by the trust may be subject to steep declines or increased volatility due to changes in performance or perception of the issuers.

You should carefully consider the trust's investment objectives, risks, and charges and expenses before investing. Contact your financial advisor or call First Trust Portfolios, L.P. at 1.800.621.1675 to request a prospectus, which contains this and other information about the trust. Read it carefully before you invest.

This product information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state to any person to whom it is not lawful to make such an offer. Sales of any of these securities must include prospectus delivery and the services of a retail broker/dealer duly licensed in the appropriate states.

Not FDIC Insured, Not Bank Guaranteed and May Lose Value.

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