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First Trust Hires New Fund Sub-Advisor

First Trust Advisors has appointed Brookfield Investment Management as investment sub-advisor for its First Trust/FIDAC Mortgage Income Fund.

First Trust Advisors has appointed Brookfield Investment Management as investment sub-advisor for its First Trust/FIDAC Mortgage Income Fund. Brookfield will be the interim investment sub-advisory until Sept. 26, 2011.

Brookfield will replace the current sub-advisory, FIDAC. The fund, which is a diversified, closed-end management investment company that seeks to offer a high level of current income, will also be renamed as the First Trust Mortgage Income Fund effective from April 29, 2011.

Click here for the release from Business Wire.

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