TORONTO, ONTARIO--(Marketwired - Nov. 10, 2015) - FT Portfolios Canada Co. (the "Manager"), the manager of each of First Trust AlphaDEX™ Canadian Dividend Plus ETF ("FDY") (TSX:FDY) and First Trust AlphaDEX™ U.S. Dividend Plus ETF (CAD-Hedged) ("FUD" and together with FDY, the "Funds") (TSX:FUD), announced today that the board of directors of the Manager has approved a proposal to change the investment objectives and investment strategy of each of the Funds (the "Proposal") to remove the covered call option writing component of the Funds' investment objectives and strategy.

In proposing the change to the investment objectives and investment strategy of each Fund, the Manager considered the following:

  • As the Funds invest in higher dividend paying equities, the Funds do not need to write options to pay distributions at the level they are currently paid. Accordingly, the Proposal will not negatively impact the level of distributions paid on the units of the Funds.

  • The Proposal should allow the portfolio of each Fund to more fully benefit from the upside potential with respect to the portfolio shares that would otherwise have been subject to covered call options.

  • The investment objectives and investment strategies of the Funds will remain unchanged in all other respects thereby continuing to allow the Funds to benefit from the rules based AlphaDEX™ selection methodology.

Each of the Funds has called and will hold a special meeting of its unitholders on December 18, 2015 to consider and vote upon the Proposal. A joint management information circular (the "Circular") describing the Proposal is being prepared and will be mailed to the unitholders of record on November 13, 2015 of the Funds. The Circular will also be available on SEDAR at and posted on the Manager's website at Implementation of the Proposal is subject to all required regulatory approvals.

If the Proposal is approved, the Funds will change their names to First Trust AlphaDEX™ Canadian Dividend ETF and First Trust AlphaDEX™ U.S. Dividend ETF (CAD-Hedged), respectively.

About First Trust

The First Trust companies are a well-respected global enterprise with a history in the U.S. market since 1991 and in Canada since 1996. As of May 29, 2015, First Trust Advisors L.P., the portfolio advisor for the First Trust AlphaDEX™ ETFs, has approximately US$43 billion in ETF assets under management and more than US$53 billion total assets under supervision or management. First Trust is the enterprise name used for the various businesses conducted in Europe, Mexico, Canada and the U.S.

Further information about FT Portfolios Canada's ETFs can be found at

Contact Information:

Media Contact:
Fraser Howell, President
FT Portfolios Canada Co.