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Strategic Income Closed-End, 94  Ticker: FVUCPX
 
Description
The Strategic Income Closed-End Portfolio is a unit investment trust that seeks high current income by investing in a well-diversified pool of closed-end funds that invest in U.S. and foreign taxable bonds. Capital appreciation is a secondary objective of the portfolio.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: CESI94
Portfolio Status: Secondary
Initial Offer Date: 02/02/2024
Secondary Date: 03/11/2024
Portfolio Ending Date: 02/02/2026
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $9.3975
POP(*): $9.6138
Remaining Deferred Sales Charge: $0.2250
* As of Trade Date: 04/16/2024 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.

 Historical 12-Month Distribution of Trust Holdings:^
Rate (as of 4/16/2024) Per Unit (as of 4/15/2024)
9.16% $0.88100
^ There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The historical 12-month distribution per unit and historical 12-month distribution rate of the securities included in the trust are for illustrative purposes only and are not indicative of the trust's distribution or distribution rate. The historical 12-month distribution per unit is based on the weighted average of the trailing twelve month distributions paid by the securities included in the portfolio. The historical 12-month distribution rate is calculated by dividing the historical 12-month distributions by the trust's offering price. The historical 12-month distribution and rate are reduced to account for the effects of fees and expenses, which will be incurred when investing in a trust. Certain of the issuers may have reduced their dividends or distributions over the prior twelve months. The distribution per unit and rate paid by the trust may be higher or lower than the amount shown above due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, or the sale of securities in the portfolio. For trusts that include funds, distributions may include realized short term capital gains, realized long-term capital gains and/or return of capital.

 Premium/Discount of Securities Held in the Portfolio
Weighted Average Premium/Discount -6.33%
As of 4/15/2024
A premium occurs when an underlying security's market price is higher than its net asset value (or par value in the case of preferred securities), and a discount occurs when an underlying security's market price is lower than its net asset value (or par value in the case of preferred securities).

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolWeighting
 Virtus Stone Harbor Emerging Markets Income Fund EDF 3.71%
 Blackstone Senior Floating Rate 2027 Term Fund BSL 3.55%
 BlackRock Floating Rate Income Trust BGT 3.50%
 BlackRock Floating Rate Income Strategies Fund, Inc. FRA 3.48%
 Nuveen Mortgage and Income Fund JLS 3.47%
 Western Asset Mortgage Opportunity Fund Inc. DMO 3.45%
 Nuveen Preferred and Income Term Fund JPI 3.43%
 Nuveen Floating Rate Income Fund JFR 3.39%
 Credit Suisse High Yield Bond Fund DHY 3.38%
 Pioneer High Income Fund Inc. PHT 3.38%
 Nuveen Credit Strategies Income Fund JQC 3.35%
 John Hancock Preferred Income Fund HPI 3.35%
 Barings Global Short Duration High Yield Fund BGH 3.35%
 John Hancock Premium Dividend Fund PDT 3.33%
 Cohen & Steers Limited Duration Preferred and Income Fund, Inc. LDP 3.32%
 PGIM Global High Yield Fund Inc. GHY 3.30%
 Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. EDD 3.29%
 abrdn Asia-Pacific Income Fund, Inc. FAX 3.28%
 TCW Strategic Income Fund, Inc. TSI 3.28%
 PGIM High Yield Bond Fund, Inc. ISD 3.28%
 Invesco Bond Fund VBF 3.25%
 Nuveen Global High Income Fund JGH 3.23%
 DoubleLine Income Solutions Fund DSL 3.22%
 Western Asset High Income Opportunity Fund Inc. HIO 3.20%
 Western Asset Global Corporate Defined Opportunity Fund Inc. GDO 3.20%
 Western Asset High Income Fund II Inc. HIX 3.18%
 Allspring Income Opportunities Fund EAD 3.18%
 Western Asset Premier Bond Fund WEA 3.16%
 MFS Charter Income Trust MCR 3.15%
 Allspring Multi-Sector Income Fund ERC 3.15%
 
Total Number of Holdings:    30
Underlying Securities information represented above is as of 04/16/2024 but will vary with future fluctuations in the market.

 Deferred Sales Charge Schedule
Amount Date
$0.07500 May 20, 2024
$0.07500 June 20, 2024
$0.07500 July 19, 2024

Risk Considerations

Buy & Hold Risk – Taxable Trusts. This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity. There may be tax consequences unless units are purchased in an IRA or other qualified plan.

Closed-End Fund Risk. 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 employ the use of leverage, which increases the volatility of such funds.

COVID-19 Economic Impact Risk. The ongoing effects of the COVID-19 global pandemic, or the potential impacts of any future public health crisis, may cause significant volatility and uncertainty in global financial markets. While vaccines have been developed, there is no guarantee that vaccines will be effective against future variants of the disease.

Floating Rate Risk. Certain of the funds invest in floating-rate securities. A floating-rate security is an instrument in which the interest rate payable on the obligation fluctuates on a periodic basis based upon changes in an interest rate benchmark. As a result, the yield on such a security will generally decline in a falling interest rate environment, causing the trust to experience a reduction in the income it receives from such securities.   

Foreign Securities Risk. Securities of non-U.S. issuers are subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. issuers.

High-Yield or Junk Bonds Risk. Investing in high-yield securities or "junk" bonds should be viewed as speculative and you should review your ability to assume the risks associated with investments which utilize such securities. High-yield securities are subject to numerous risks, including higher interest rates, economic recession, deterioration of the junk bond market, possible downgrades and defaults of interest and/or principal. High-yield security prices tend to fluctuate more than higher rated securities and are affected by short-term credit developments to a greater degree.

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

Market Disruption Risk. Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups in the Middle East, have caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, the Middle East and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain investments as well as performance.

Senior Loans Risk. The yield on senior loans will generally decline in a falling interest rate environment and increase in a rising interest rate environment. Senior loans are generally below investment grade quality ("junk" bonds). An investment in senior loans involves the risk that the borrowers may default on their obligations to pay principal or interest when due.

US Treasury Debt Instruments Risk. Debt instruments, such as U.S. Treasury obligations, are subject to numerous risks including higher interest rates, economic recession and deterioration of the bond market or investors' perceptions thereof.

Volatility Risk. 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.

Additional Risk. For a discussion of additional risks of investing in the trust see the "Risk Factors" section of the prospectus.

Important Note. It is important to note that an investment can be made in the underlying funds directly rather than through the trust. These direct investments can be made without paying the trust's sales charge, operating expenses and organizational costs.

Operational Risk. As the use of Internet technology has become more prevalent in the course of business, the trust has become more susceptible to potential operational risks through breaches in cybersecurity.

You should carefully consider the trust's investment objectives, risks, and charges and expenses before investing. Contact your financial professional 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.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by FactSet Research Systems Inc. and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, ©2024 CUSIP Global Services. "CUSIP" is a registered trademark of the American Bankers Association.

Fund Cusip Information
30334U123 (Cash)
30334U131 (Reinvest)
30334U149 (Cash-Fee)
30334U156 (Reinvest-Fee)
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The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
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