First Trust/Highland Capital Floating Rate Income Fund Declares Monthly Distribution for April of $0.0583 per unit

Mon Apr 21, 10:22 AM

TSX Symbol FHT.UN

TORONTO, April 21 /CNW/ - First Trust/Highland Capital Floating Rate Income Fund ("the Fund") announces a distribution for the month ending April 30, 2008 of $ 0.0583 per unit.

The Fund's distribution equates to an annualized distribution rate of 7.00% on an initial subscription price of $ 10.00 per unit. The distribution is payable on May 14, 2008 to Unitholders of record on April 30, 2008.

The Fund provides exposure to a portfolio of primarily U.S. dollar denominated, senior secured floating rate corporate loans. The fund aims to (i) deliver monthly distributions which will fluctuate with changes in U.S. short term interest rates, and (ii) to preserve and enhance the net asset value per Unit in order to return the original $ 10.00 subscription price of the Units to Unitholders.

Contacts

First Defined Portfolio Management Co.
(416) 865-8065
(877) 622-5552