First Trust Advisors, LP
Lisle, IL, December 9, 2005 -- First Trust Strategic High Income Fund (the "Fund") (NYSE: FHI) today declared a special distribution of $0.23 per share, payable on December 30, 2005 to shareholders of record as of December 21, 2005. The ex-dividend date is expected to be December 19, 2005.
The Fund is a closed-end management investment company that seeks to provide a high level of current income. As a secondary objective, the Fund seeks to provide capital growth. The Fund pursues these investment objectives by investing at least 80% of its managed assets in a diversified portfolio of high income producing securities that the sub-adviser believes offer attractive yield and capital appreciation potential. The Fund does not employ leverage.
First Trust Advisors L.P. acts as the Fund’s investment advisor and currently manages or supervises approximately $21 billion in assets.
Hilliard Lyons Asset Management (“HLAM”) is the Fund’s sub-adviser. HLAM is a division of J.J.B. Hilliard, W.L. Lyons, Inc., which is an indirect wholly-owned subsidiary of The PNC Financial Services Group, Inc. (“PNC”). PNC, a publicly-held financial holding company, provides commercial and retail banking and other financial services in the areas of investment banking, asset management, mutual funds, trusts, securities brokerage, insurance, leasing, and mortgage banking. HLAM serves as investment adviser or sub-adviser to approximately $4.8 billion in assets as of September 30, 2005, which consists of two mutual funds, one money market fund, and separately managed accounts and trust assets. HLAM or its predecessors have been managing assets since 1967.
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