First Trust Taiwan AlphaDEX® Fund Announces Board Approval of Proposed Changes to Investment Objective

First Trust Taiwan AlphaDEX® Fund (FTW), announced that the Board of Trustees of the Trust has approved changes to the Fund’s investment objective. Subject to shareholder approval, the Fund’s new investment objective will be to seek investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an equity index called the NIFTY 50 Equal Weight Index (“Index”).

The Index is an equally weighted total return index designed to provide diversified exposure to the NIFTY 50, the main index for Indian equity securities.

The Fund’s current investment objective is to seek investment results that correspond generally to the price and yield (before fees and expenses) of the NASDAQ AlphaDEX® Taiwan Index (“Taiwan Index”). The Fund will continue to seek investment results that correspond generally to the Taiwan Index until its shareholders approve the New Investment Objective.

  •  Shareholders of the Fund will be asked to vote on a proposal to approve the New Investment Objective at a special meeting of shareholders expected to be held later this year.

  •  It is also anticipated that upon shareholder approval of the New Investment Objective, the Fund will change its name to First Trust India NIFTY 50 Equal Weight ETF. The Fund will continue to list and trade its shares on The Nasdaq Stock Market LLC, but will obtain a new CUSIP identifier and ticker symbol. The Board also has approved the Fund name change. This change does not require shareholder approval. 

Read More