2024-07-11 21:35:21 ET
Summary
- This article discusses the upcoming merger of First Trust High Income Long/Short Fund into abrdn Income Credit Strategies Fund.
- The merger of FSD into ACP was approved, with shares to de-list on July 19, 2024.
- FSD shareholders to receive NAV for NAV shares in ACP, which is trading at a premium to NAV.
- ACP contains a risky collateral pool, is highly volatile, and may not be suitable for long-term holding after the merger.
Thesis
We have written about the First Trust High Income Long/Short Fund ( FSD ) before in light of its potential merger into the abrdn Income Credit Strategies Fund ( ACP ) highlighting that while not all approvals had been obtained we were fairly certain the merger will go through....
Read the full article on Seeking Alpha
For further details see:
FSD: Will Get Delisted, Time To Divest