First Trust SSI Strategic Convertible Securities ETF(NASDAQ:FCVT)

FCVT, launched November 2015, is the first actively managed portfolio of convertible securities. SSIthe investment manager of the fundcombines quantitative and fundamental analysis to select securities that it believes represent superior value and favorable risk/reward characteristics. The fund has no geographic restrictions and can even hold convertible debt denominated in other currencies. Its broad mandate allows it to invest in issuers of any credit quality, maturity, and size, subject only to liquidity requirements. The fund may make certain investment decisions through its active management to meet its objectives. FCVTs unconstrained strategy could appeal to investors who believe that the convertibles space is not as efficient as other pockets of the financial markets and thus affords an opportunity to generate alpha.