First Trust Global Portfolios Launches New High-Yield L/S UCITS Fund

Dec 14 2015 | 7:31pm ET

First Trust Global Portfolios has launched a new actively managed high yield UCITS fund under its First Trust Advisors umbrella.

The First Trust Tactical High Yield UCITS Fund seeks to provide current income by investing primarily in high-yield debt securities and, as a secondary objective, generate capital appreciation, noted the company. 

The new fund’s investment approach includes a long/short strategy that allows both long and short positions to be taken through the use of financial derivative instruments, providing the opportunity to profit from both rising and falling price trends and avoiding the long-only constraints of traditional fixed income strategies, said First Trust in a statement.

“At a time when investors are growing concerned about increasing interest rates on their fixed income portfolios and idiosyncratic challenges within credit markets, FTA is offering investors a way to potentially capitalize on the opportunities created by such fear-induced volatility,” said William Housey, senior vice president and senior portfolio manager, in the statement. 

Managing the new fund along with Housey are Scott Fries and Orlando Purpura.

Founded in 2011, London-based First Trust Global Portfolios distributes and markets a range of First Trust U.S. registered ETFs and Irish domiciled UCITS funds under the First Trust Global Funds PLC umbrella. The firm had total assets under management or supervision of more than $113 billion as of November 30, 2015.

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