First Trust reports plans for First Trust S&P Civets 60 Index Fund

By Toni Weeks

San Diego, March 28 - First Trust Exchange-Traded Fund II announced in an N-1A filing with the Securities and Exchange Commission that it is planning a new fund, the First Trust S&P Civets 60 Index Fund.

The fund will be listed on the Nasdaq. The ticker symbol has not yet been determined.

The fund will seek investment results that correspond generally to the price and yield, before fees and expenses, of an equity index called the S&P Civets 60 index. The fund will normally invest at least 90% of its net assets, plus the amount of any borrowings for investment purposes, in common stocks, American Depositary Receipts, Global Depositary Receipts and/or other depositary receipts that comprise the index.

Daniel J. Lindquist, Robert F. Carey, Jon C. Erickson, David G. McGarel, Roger F. Testin and Stan Ueland will make up the portfolio management team.

There will be no shareholder fees. Management fees and total annual fund operating expenses have not yet been set.

Wheaton, Ill.-based First Trust Advisors LP will be the investment adviser.

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