FT 3232 targets stocks of companies based in China and Hong Kong

By Toni Weeks

San Diego, Nov. 7 - FT 3232 has registered units of its Series 28 Greater China Portfolio, according to an S-6 amendment filed with the Securities and Exchange Commission.

The depositor is Wheaton, Ill.-based First Trust Portfolios LP.

The trust seeks an above-average capital appreciation and invests in a diversified portfolio of common stocks of companies, the majority of which have their headquarters or are incorporated in China and Hong Kong.

On the Nov. 7 inception date, $172,884 of purchase contracts comprised the trust. The 17,463 units each have a public offering price of $10.00 and a net asset value of $9.576. The estimated net annual distribution per unit for the first year is $0.2089.

The units each carry a maximum sales charge of $0.395, consisting of an initial sales charge of $0.1, a deferred sales charge of $0.245 and a creation and development fee of $0.05. The maximum fee for unit purchasers of $50,000 or more is 3.7% and decreases on a sliding scale to 2.45% for investments of $1 million or more.

The trust has a mandatory termination date of Nov. 7, 2013.

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