FT 3231 uses two strategies to reach above-average total return goal

By Toni Weeks

San Diego, Nov. 30 - FT 3231 has registered units of its Target Diversified Global Allocation Portfolio, Series 2, 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 above-average total return by investing in common stocks across various market capitalizations, growth and value styles, sectors and countries. The portfolio selection employs two specialized strategies, the Diversified Equity Strategic Allocation Strategy, which is used to select 60% of the stocks, and the Target Global Dividend Leaders Strategy, which is used to select the remaining 40% of the stocks.

On the initial date of deposit, Nov. 30, the portfolio consisted of $890,176 in initial purchase contracts, comprising 89,917 units, each offered at $10.00 and with a net asset value of $9.676. The estimated net annual distribution for the first year is $0.3550 per unit.

The maximum sales charge for each portfolio unit is 2.95%, which consists of an initial sales charge of 1%, a deferred sales charge of 1.45% and a creation and development fee of 0.5%. The maximum fee for unit purchasers of $50,000 or more is 2.7%, and the sales charge decreases on a sliding scale to 1.4% for investments of $1 million or more.

The trust has a mandatory termination date of Feb. 28, 2013.

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