First Trust/Highland Capital Floating Rate Income Fund Declares Monthly Distribution for October of $0.0417 per unit

Wed Oct 22, 12:45 PM

TSX Symbol FHT.UN

TORONTO, Oct. 22 /CNW/ - First Trust/Highland Capital Floating Rate Income Fund ("the Fund") announces a distribution for the month ending October 31, 2008 of $ 0.0417 per unit.

The Fund's distribution equates to an annualized distribution rate of 5.00% on an initial subscription price of $ 10.00 per unit. The distribution is payable on November 14, 2008 to Unitholders of record on October 31, 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