The Board of Trustees of First Trust/Aberdeen Emerging Opportunity Fund (NYSE: FEO) has instituted a managed distribution policy, allowing for more frequent payments of long-term capital gains distributions. The Fund will initially pay a quarterly distribution of $0.25 per share, dependent on earnings forecasts. This approach aims to optimize capital gains distribution throughout the year while providing a diversified portfolio focused on emerging markets. The first scheduled distribution under this policy is anticipated in the first quarter of 2022.
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First Trust/Aberdeen Global Opportunity Income Fund (FAM) and First Trust/Aberdeen Emerging Opportunity Fund (FEO) announced updates to their investment policies. Each Fund can now invest up to 10% of Managed Assets in forward foreign exchange contracts to hedge or gain exposure to foreign currencies. The remaining policies, including a cap of 5% in non-deliverable contracts, will remain unchanged. These changes are expected to be implemented on or around May 24, 2021. FAM aims for high current income, while FEO focuses on total return.
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