Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for First Trust Institutional Preferred Securities and Income ETF > News item |
First Trust launches institutional preferred and income ETF
By Sarah Lizee
Olympia, Wash., Aug. 24 – First Trust Advisors LP launched the First Trust Institutional Preferred Securities and Income ETF, according to a press release.
The fund seeks total return and current income by investing at least 80% of its assets in institutional preferred securities and income-producing debt securities.
The fund is sub-advised by Stonebridge Advisors LLC.
“We believe this ETF will be an effective tool for investment advisors seeking to generate income for their clients, while helping to enhance portfolio diversification through the use of institutional preferred securities, which are absent from many preferred securities ETFs,” Ryan Issakainen, CFA, senior vice president, exchange-traded fund strategist, at First Trust said in the release.
The fund’s portfolio management team from Stonebridge includes Robert Wolf, senior vice president, senior portfolio manager, Scott Fleming, president and chief investment officer, and Danielle Salters, CFA, vice president, portfolio manager and credit analyst. The portfolio managers are jointly responsible for the day-to-day management of the fund.
Wheaton, Ill.-based First Trust provides investment services, including asset management and financial advisory services. Wilton, Conn.-based Stonebridge is a niche asset management firm.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.