As filed with the Securities and Exchange Commission on January 24, 2018.
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SCHEDULE 14A
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
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First Trust Dynamic Europe Equity Income Fund
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PRESS RELEASE SOURCE: First Trust Advisors L.P.
FIRST TRUST ADVISORS ANNOUNCES JANUS CAPITAL MANAGEMENT LLC AS PROPOSED
INVESTMENT SUB-ADVISOR FOR FIRST TRUST DYNAMIC EUROPE EQUITY INCOME FUND
Wheaton, IL - (BUSINESS WIRE) - January 23, 2018 - First Trust Advisors L.P.
("FTA") announced today that, subject to shareholder approval, the Board of
Trustees of First Trust Dynamic Europe Equity Income Fund (NYSE: FDEU) (the
"Fund"), a closed-end fund, has approved Janus Capital Management LLC ("Janus
Capital") as the investment sub-advisor of the Fund. Henderson Global Investors
(North America) Inc., an affiliate of Janus Capital ("Henderson Global"), served
as the Fund's investment sub-advisor since the Fund's inception on September 24,
2015. The transition from Henderson Global to Janus Capital as the sub-advisor
of the Fund is a result of the recent merger of Henderson Group plc, the parent
company of Henderson Global, with Janus Capital Group Inc., the parent company
of Janus Capital, in May 2017. This merger resulted in the formation of Janus
Henderson Group plc ("Janus Henderson"), doing business as Janus Henderson
Investors.
The change in sub-advisor from Henderson Global to Janus Capital may be deemed
to be an "assignment" (as defined in the Investment Company Act of 1940, as
amended) of the current investment sub-advisory agreement with Henderson Global,
which may result in the automatic termination of that investment sub-advisory
agreement. Accordingly, the Board of Trustees approved a new investment
sub-advisory agreement ("New Agreement") with Janus Capital that will be
submitted to shareholders of the Fund for approval and would take effect upon
such shareholder approval. The New Agreement will be substantially similar to
the Fund's current investment sub-advisory agreement. Specifically, the
management, operations, governance and investment management functions at Janus
Capital are expected to be substantially the same as those provided by Henderson
Global. Further, the portfolio managers of the Fund are expected to remain the
same, and the day-to-day operations of the Fund are not expected to be impacted.
In addition, there will be no change to the sub-advisory fee rate paid with
respect to the Fund.
A special shareholder meeting of the Fund to vote on a proposal to approve the
New Agreement is expected to be held in the first half of 2018. Any solicitation
of proxies made in connection with this shareholder meeting will only be made
pursuant to proxy materials filed with the U.S. Securities and Exchange
Commission ("SEC") under applicable federal securities laws. There can be no
assurance that the shareholders of the Fund will vote to approve the New
Agreement.
In connection with the solicitation of proxies to approve the proposal described
above, the Fund will file a proxy statement. Because the proxy statement will
contain important information, the Fund's shareholders are urged to read the
proxy statement and accompanying materials carefully when they receive them. The
Fund's shareholders will also be able to obtain copies of these documents, when
available, by calling FTA toll-free at 800-988-5891. When filed with the SEC,
the proxy statement will be available free of charge at the SEC's website,
www.sec.gov. The foregoing is not an offer to sell, nor a solicitation of an
offer to buy, shares of the Fund, nor is it a solicitation of any proxy.
FTA has served as the Fund's investment advisor since the 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 $118 billion as of December 31, 2017
through unit investment trusts, exchange-traded funds, closed-end funds, mutual
funds and separate managed accounts.
Janus Henderson is a global investment management firm that provides a full
spectrum of investment products and services to clients around the world. With
offices in 27 cities and more than 2,000 employees worldwide, Janus Henderson
managed approximately $360.5 billion in assets as of September 30, 2017.
This press release contains certain forward-looking statements within the
meaning of the Securities Act of 1933, as amended, and the Securities Exchange
Act of 1934, as amended. Forward-looking statements include statements regarding
the goals, beliefs, plans or current expectations of FTA, Henderson Global
and/or Janus Capital and their respective representatives, taking into account
the information currently available to them. Forward-looking statements include
all statements that do not relate solely to current or historical fact. For
example, forward-looking statements include the use of words such as
"anticipate," "estimate," "intend," "expect," "believe," "plan," "may,"
"should," "will," "would" or other words that convey uncertainty of future
events or outcomes. Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results, performance
or achievements of the Fund to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
statements. When evaluating the information included in this press release, you
are cautioned not to place undue reliance on these forward-looking statements,
which reflect the judgment of FTA, Henderson Global and/or Janus Capital and
their respective representatives only as of the date hereof. We undertake no
obligation to publicly revise or update these forward-looking statements to
reflect events and circumstances that arise after the date hereof.
An investment in the Fund will fluctuate. Shares, when sold, may be worth more
or less than their original cost. The Fund is subject to risks, including the
fact that it is a non-diversified closed-end management investment company.
Because the Fund will invest primarily in securities of non-U.S. issuers, which
are generally denominated in non-U.S. currencies, there are risks not typically
associated with investing in securities of U.S. issuers. Non-U.S. issuers are
subject to higher volatility than securities of U.S. issuers. An investor may
lose money if the local currency of a non-U.S. market depreciates against the
U.S. dollar. Investments in securities of issuers located in emerging market
countries are considered speculative and there is a heightened risk of investing
in emerging markets securities. The Fund will engage in practices and strategies
that will result in exposure to fluctuations in foreign exchange rates, thus
subjecting it to foreign currency risk. The Fund's use of derivatives may result
in losses greater than if they had not been used, may require the Fund to sell
or purchase portfolio securities at inopportune times, may limit the amount of
appreciation the Fund can realize on an investment, or may cause the Fund to
hold a security that it might otherwise sell. Use of leverage can result in
additional risk and cost, and can magnify the effect of any losses.
The information presented is not intended to constitute an investment
recommendation for, or advice to, any specific person. By providing this
information, FTA is not undertaking to give advice in any fiduciary capacity
within the meaning of ERISA and the Internal Revenue Code. FTA has no knowledge
of and has not been provided any information regarding any investor. Financial
advisors must determine whether particular investments are appropriate for their
clients. FTA believes the financial advisor is a fiduciary, is capable of
evaluating investment risks independently and is responsible for exercising
independent judgment with respect to its retirement plan clients. The risks of
investing in the Fund are spelled out in the shareholder reports and other
regulatory filings.
This press release does not constitute an offer to sell or a solicitation to
buy, nor shall there be any sale of Fund securities in any state or jurisdiction
in which such offer or solicitation or sale would be unlawful prior to
registration or qualification under the laws of such state or jurisdiction.
Contact:
First Trust Advisors L.P.
Inquiries: Jeff Margolin - (630) 915-6784