Advisors Disciplined Trust 783 invests in 'hard asset' companies

By Toni Weeks

San Diego, Nov. 16 - Advisors Disciplined Trust 783 has registered units of its Confluence Hard Assets Portfolio, Series 2011-2, according to an S-6 amendment filed with the Securities and Exchange Commission.

The depositor is Monument, Colo.-based Advisors Asset Management, Inc.

The trust seeks capital appreciation by investing in a portfolio primarily consisting of stocks of companies involved in the mining, extraction and/or cultivation of hard assets, such as precious metals, mining, energy and forest products. The portfolio was selected by Confluence Investment Management LLC, who defines a hard asset as a tangible asset whose value is intrinsic based on what the asset is or what can be done with it.

On the trust's inception date, Nov. 16, there was $148,116 in contracts to purchase underlying securities and 14,961 units, each with a public offering price of $10 and a net asset value of $9.555. The estimated net annual distributions per unit are $0.0665 for the first year and $0.0657 for the second year.

The units have a maximum sales fee of 3.95%, consisting of a 1% initial sales fee, a 2.35% deferred sales fee and a 0.6% creation and development fee. Reductions in the sales fee are available on a sliding scale down to 2.45% depending on the number of units purchased.

The trust's termination date is Nov. 15, 2013.

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