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FT Portfolios Canada Co. Announces Unitholder Approval of Merger Proposal

TORONTO, Oct. 25, 2019 (GLOBE NEWSWIRE) -- FT Portfolios Canada Co. (the “Manager”), the manager of First Trust Short Duration High Yield Bond ETF (CAD-Hedged) (“FSD”) (TSX: FSD)  (TSX:FSD.A) and First Trust Senior Loan ETF (CAD-Hedged) (“FSL”), is pleased to announce that at a special meeting held today unitholders of FSD approved a proposal that will result in the merger of FSD with FSL, another exchange-traded fund managed by the Manager, in order to combine FSD and FSL into one exchange-traded fund with FSL being the continuing fund. It is expected that the merger will become effective on or about November 4, 2019 (the “Effective Date”).

Unitholders of FSD will receive a number of common units and/or advisor class units of FSL, as the case may be, determined based on an exchange ratio established as of the close of trading on the business day immediately preceding the Effective Date. The exchange ratios will be calculated based on the relative net asset values of the common units and advisor class units of FSD and the common units and advisor class units of FSL.

Details of the merger are outlined in an information circular that has been sent to unitholders of FSD in connection with the special meeting. Copies of the information circular are available on www.sedar.com and www.firsttrust.ca

About First Trust

First Trust Canada is the trustee, manager and promoter of the funds.  First Trust Canada and its affiliates First Trust Advisors L.P. (“FTA”), portfolio advisor to the funds, an Ontario Securities Commission registered portfolio manager and U.S. Securities and Exchange Commission registered investment advisor, and First Trust Portfolios L.P., a FINRA registered broker-dealer, are privately held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately US $134 billion as of July 31, 2019 through exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.  

Further information about FT Portfolios Canada’s ETFs can be found at www.firsttrust.ca.     

For further information: Media Contact: Karl Cheong, FT Portfolios Canada Co., 40 King Street West, Suite 5102, Email: karlcheong@firsttrust.ca, 1-877-622-5552.

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