Declares Quarterly Distribution
First Trust Advisors, L.P.
Lisle, IL, December 12, 2006 — First Trust/Fiduciary Asset Management Covered Call Fund (the "Fund") (NYSE: FFA) today declared distributions totaling $0.40 per share as follows:
| Ordinary Distribution |
$0.2780 |
| Long-Term Capital Gains |
$0.1220 |
| Total |
$0.4000 |
The distribution information for the Fund appears below.
| First Trust/Fiduciary Asset Management Covered Call Fund (FFA) |
| Distribution per share |
$0.40 |
Distribution Rate based on the December 11, 2006
NAV of $19.04 |
8.40%
|
Distribution Rate based on the December 11, 2006
closing market price of $18.81 |
8.51% |
The distribution will be payable on December 29, 2006 to shareholders of record on December 22, 2006, with an expected ex-dividend date of December 20, 2006. The final determination of the source and tax status of all distributions paid in 2006 will be made after the end of 2006.
The Fund is a closed-end management investment company that seeks to provide a high level of current income and gains and, to a lesser extent, capital appreciation. The Fund seeks to achieve its investment objective by investing in a diversified portfolio of equity securities and writing (selling) call options on at least 80% of the Fund’s managed assets.
Fi rst Trust Advisors L.P. acts as the fund’s investment advisor and currently manages or supervises approximately $28 billion in assets.
Fi duciary Asset Management, LLC serves as the Fund’s Sub-advisor and invests in a broad range of equity, hedged equity, master limited partnership, and fixed income strategies for institutional and high net worth clients. Fiduciary Asset Management’s clients include Fortune 500 companies, public pensions and large endowments and foundations. Fiduciary Asset Management was established as an independent investment firm in 1994 and has managed covered call option portfolios for clients since 1997. Fiduciary Asset Management currently manages and supervises approximately $17 billion in client assets.
View more information on First Trust Advisors, LP or other Closed-End Funds.
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