WHEATON, Ill., September 20, 2022--(BUSINESS WIRE)--First Trust Advisors L.P. ("FTA") announced today approval of the liquidation of First Trust TCW ESG Premier Equity ETF (NYSE Arca: EPRE), a series of First Trust Exchange-Traded Fund VIII, and First Trust Dorsey Wright People’s Portfolio ETF (Nasdaq: DWPP), a series of First Trust Exchange-Traded Fund (each such series, a "Fund").
Based upon the recommendation of FTA, the investment advisor of the Funds, the Board of Trustees of First Trust Exchange-Traded Fund VIII and the Board of Trustees of First Trust Exchange-Traded Fund each unanimously determined that it was in the best interests of each of EPRE and DWPP, respectively, and their respective shareholders to liquidate such Fund. Accordingly, the Board of Trustees of each Fund approved the liquidation of such Fund pursuant to a plan of liquidation and termination.
Shareholders may sell their holdings in a Fund prior to the end of the trading day on October 26, 2022. Customary brokerage charges may apply to these transactions. The last day the Funds will accept creation and redemption orders is October 26, 2022 and each Fund’s shares will subsequently be de-listed. The Fund will liquidate on or around November 1, 2022. Any person holding shares in a Fund as of October 28, 2022 will receive a cash redemption amount equal to the net asset value of such shares after the Fund has discharged and/or made reasonable provisions for the payment of all of its charges, taxes, expenses and liabilities. Shareholders generally will recognize a capital gain or loss on any redemption. Each Fund may pay one or more dividends or other distributions prior to or along with any redemption payment.
FTA is a federally registered investment advisor and serves as the Fund’s investment advisor. FTA and its affiliate, First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $193 billion as of August 31, 2022 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and SMAs. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.
Each Fund’s daily closing price and net asset value per share as well as other information can be found at www.ftportfolios.com.
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