First Trust Announces Shareholder Approval of New Investment Sub-Advisory Agreements with Chartwell Investment Partners, Inc. for First Trust Dividend and Income Fund and First Trust Enhanced Equity Income Fund

Business Wire |

WHEATON, Ill.--(BUSINESS WIRE)-- First Trust Advisors L.P. (“FTA”) announced today that the shareholders of each of First Trust Dividend and Income Fund  (NYSE: FAV) and First Trust Enhanced Equity Income Fund  (NYSE: FFA) (each, a “Fund”) have voted to approve a new investment sub-advisory agreement with Chartwell Investment Partners, Inc. (“New Chartwell”).

FTA previously announced that the Funds’ investment sub-advisor, Chartwell Investment Partners, L.P. (“Old Chartwell”; Old Chartwell and New Chartwell are referred to collectively as “Chartwell”), had entered into a definitive asset-purchase agreement with TriState Capital Holdings, Inc. (“TriState”) (NYSE: TSC) whereby TriState would acquire substantially all of the assets of Old Chartwell (the “Transaction”). The Transaction closed during the first quarter of 2014. The consummation of the Transaction was deemed to be an “assignment” (as defined in the Investment Company Act of 1940, as amended) of the respective sub-advisory agreement among each Fund, FTA and Old Chartwell, which resulted in the automatic termination of each agreement. A new investment sub-advisory agreement among each Fund, FTA and New Chartwell was submitted to shareholders of each Fund for approval, and the necessary percentage of shareholders of each Fund has voted to approve its new investment sub-advisory agreement.

FTA has served as each Fund’s investment advisor since each Fund’s inception. FTA along with its affiliate, First Trust Portfolios L.P., are privately-held companies which provide a variety of investment services, including asset management and financial advisory services, with collective assets under management or supervision of approximately $94 billion as of May 31, 2014, through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separately managed accounts.

Chartwell has served as the investment sub-advisor to the First Trust Dividend and Income Fund since July 1, 2013, and the First Trust Enhanced Equity Income Fund since September 14, 2007. The firm focuses on institutional, sub-advisory, and private client relationships and is a research-based equity and fixed-income manager with a disciplined, team-oriented investment process. At May 31, 2014, Chartwell had approximately $7.7 billion in assets under management.

First Trust Advisors L.P.Press Inquiries: Jane Doyle, 630-765-8775Analyst Inquiries: Jeff Margolin, 630-915-6784Broker Inquiries: Jeff Margolin, 630-915-6784

Source: First Trust Advisors L.P.

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Symbol Name Price Change % Volume
LIGA Lig Assets Inc 0.01 0.00 20.45 29,905,240


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