Board Approves Interim and New Investment Sub-Advisory Agreements for First Trust SSI Strategic Convertible Securities ETF
First Trust SSI Strategic Convertible Securities ETF (FCVT)
US:NASDAQ Investor Relations:
ftportfolios.com/retail/etf/etfsummary.aspx?ticker=fcvt
Company Research
Source: Business Wire
WHEATON, Ill.--(BUSINESS WIRE)-- First Trust Advisors L.P. (“FTA”) announced today that the Board of Trustees (“Board”) of First Trust Exchange-Traded Fund IV (the “Trust”), on behalf of First Trust SSI Strategic Convertible Securities ETF (Nasdaq: FCVT) (the “Fund”), a series of the Trust, voted to approve SSI Investment Management LLC (“SSI LLC”) as investment sub-advisor to the Fund to replace SSI Investment Management Inc. (“SSI Inc.”). SSI LLC will begin serving as investment sub-advisor to the Fund effective upon the closing of the Transaction described below. SSI Inc. intends to engage in an internal reorganization pursuant to which it will create a subsidiary, SSI LLC, and transfer its advisory business to SSI LLC. After such transfer, Resolute Investment Managers, Inc. (“Resolute”) has agreed to acquire a majority interest in SSI LLC (the “Transaction”). The acquisition of the interests in SSI LLC by Resolut
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