First Trust BICK Index Fund Decreases its Investment Management Fee
21 Setembro 2010 - 9:33AM
Business Wire
First Trust BICK Index Fund (NASDAQ: BICK) (the “Fund”), an
exchange-traded index fund and a series of First Trust
Exchange-Traded Fund II (the “Trust”), announced today that the
Trust’s Board of Trustees has approved a reduction in the annual
management fee payable to First Trust Advisors L.P. (“First Trust”)
from 0.70% of the Fund’s average daily net assets to 0.64% of the
Fund’s average daily net assets. First Trust 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, 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 fees, if any, and
extraordinary expenses. The reduction in the management fee will
have no effect on the services provided to the Fund by First Trust
and will be effective as of October 1, 2010.
The Fund seeks investment results that correspond generally to
the price and yield (before the Fund’s fees and expenses) of an
equity index called the ISE BICKTM (Brazil, India, China, South
Korea) Index (the “Index”). The Index is designed to provide a
benchmark for investors interested in tracking some of the largest
and most liquid public companies that are domiciled in Brazil,
India, China (including Hong Kong) and South Korea that are
accessible for investment by U.S. investors. The Index has been
created to provide investors an opportunity to take advantage of
both event-driven news and long-term economic trends as the
economies of these countries continue to evolve.
First Trust has served as the Fund’s investment advisor since
the Fund’s inception on April 12, 2010. First Trust, 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, financial advisory
services, and municipal and corporate investment banking, with
collective assets under management or supervision of approximately
$32 billion as of August 31, 2010 through closed-end funds, unit
investment trusts, mutual funds, separate managed accounts and
exchange-traded funds.
Past performance is no assurance of future results. Principal
Risk Factors: The Fund’s shares will change in value, and you could
lose money by investing in the Fund. An investment in the Fund
involves risk similar to those of investing in any fund of equity
securities traded on exchanges. the Fund seeks investment results
that correspond generally to the price and yield of the Index. You
should anticipate that the value of the Fund’s shares will decline,
more or less, in correlation with any decline in the value of the
Index. The Fund’s return may not match the return of the Index.
Unlike the Fund, the Index does not actually hold a portfolio of
securities and therefore does not incur the expenses incurred by
the Fund. The Fund invests in securities of issuers in Brazil,
India, China (including Hong Kong) and South Korea, which are
subject to higher volatility than securities of domestic issuers
due to possible adverse political, social or economic developments.
An investment in particular geographic regions may be particularly
susceptible to changes in the political, diplomatic and economic
conditions of those regions or any new regulatory requirements of
those regions. The Fund may invest in small capitalization and mid
capitalization companies. Such companies may experience greater
price volatility than larger, more established companies. The risks
of investing in the Fund are spelled out in its prospectus,
shareholder report, and other regulatory filings.
Investors buying or selling Fund shares on the secondary market
may incur brokerage commissions. Investors who sell Fund shares may
receive less than the share’s net asset value. Unlike shares of
open-end mutual funds, investors are generally not able to purchase
Fund shares directly from the Fund and individual shares are not
redeemable. However, specified large blocks of shares called
“creation units” can be purchased from, or redeemed to, the
Fund.
The foregoing is not an offer to sell, nor a solicitation of an
offer to buy, shares of the fund. The Fund’s daily closing price
and net asset value per share as well as other information can be
found at www.ftportfolios.com. An investor should consider the
Fund’s investment objectives, risks, charges and expenses carefully
before investing. For a copy of the prospectus and summary
prospectus which contain this and other information about the Fund,
call First Trust at 1-800-621-1675. Please read the prospectus and
summary prospectus carefully before investing.
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