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First Trust High Income Long/Short Fund Declares Initial Monthly Common Share Distribution for December, as well as Distributio

^{Published on 2010-10-29 06:06:30 - Market Wire}
 

WHEATON, Ill.--([ BUSINESS WIRE ])--First Trust High Income Long/Short Fund (the "Fund") (NYSE: FSD) declared the Funda™s regularly scheduled monthly common share distributions for December, January and February in the amount of $0.1335 per share.

The payable, record and expected ex-dividend dates for these distributions are as follows:

The monthly distribution information for the Fund appears below.

The majority, and possibly all, of these distributions will be paid out of net investment income earned by the Fund. A portion of these distributions may come from net short-term realized capital gains or return of capital. The final determination of the source and tax status of all 2010 distributions will be made after the end of 2010, and the final determination of the source and tax status of all 2011 distributions will be made after the end of 2011.

The Fund is a diversified, closed-end management investment company that seeks to provide current income. The Fund has a secondary objective of capital appreciation. The Fund will seek to achieve its investment objectives by investing, under normal market conditions, a majority of its assets in a diversified portfolio of U.S. and foreign (including emerging markets) high yield corporate fixed-income securities of varying maturities that are rated below-investment grade at the time of purchase.

First Trust Advisors L.P., the Funda™s investment advisor, along with its affiliate First Trust Portfolios L.P., are privately-held companies which provide a variety of investment services, including asset management, financial advisory services, and municipal and corporate investment banking, with collective assets under management or supervision of approximately $36 billion as of September 30, 2010 through closed-end funds, unit investment trusts, mutual funds, separate managed accounts and exchange-traded funds.

MacKay Shields LLC (aMacKaya) serves as the Funda™s investment sub-advisor. MacKay is an indirect wholly-owned subsidiary of New York Life Insurance Company and a wholly-owned subsidiary of New York Life Investment Management Holdings LLC. MacKay is a multi product investment management firm with approximately $51.7 billion in assets under management as of September 30, 2010. MacKay manages the following strategies for institutional clients and retail mutual funds: taxable and tax-exempt fixed income securities, including high yield, high yield active core, core plus, emerging market, municipal, investment grade, convertible securities and international equities.

Past performance is no assurance of future results. Investment return and market value of an investment in the Fund will fluctuate. Shares, when sold, may be worth more or less than their original cost.

Principal Risk Factors: The Fund has no operating history. Investment in this Fund involves investment and market risk, management risk, Current Economic Conditions a" Credit Crisis Liquidity and Volatility Risk, Fixed-Income Securities Risk, Issuer Risk, Interest Rate Risk, Prepayment Risk, Reinvestment Risk, Credit and Below-Investment Grade Securities Risk, Short Selling Risk, Valuation Risk, Credit Rating Agency Risk, Non-U.S. Securities Risk, Emerging Markets Risk, Currency Risk, Preferred Stock Risk, Credit Linked Notes Risk, Loan Participations and Assignments Risk, Leverage Risk, Derivatives Risk, Credit Default Swaps Risk, U.S. Government Securities Risk, Non-U.S. Government Deb Securities Risk, Common Stock Risk, REIT Risk, Asset-Backed, Mortgage Backed or Mortgage-Related Securities Risk, Inflation/Deflation Risk, New Types of Securities Risk, Counterparty and Prime Brokerage Risk, Government Intervention in Financial Markets Risk, Portfolio Turnover Risk, Market Disruption and Geopolitical Risk, Illiquid/Restricted Securities Risk, Reverse Repurchase Agreements Risk, Repurchase Agreements Risk, Certain Affiliations, Temporary Defensive Strategies Risk, and Secondary Market for the Funda™s Common Shares. The risks of investing in the Fund are spelled out in the prospectus, shareholder report and other regulatory filings.

The Funda™s daily closing New York Stock Exchange price and net asset value per share as well as other information can be found at [ www.ftportfolios.com ] or by calling 1-800-988-5891.