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Transcript
RICHARD BERNSTEIN ADVISORS GLOBAL DIVIDEND KINGS® PORTFOLIO SERIES 23 The Richard Bernstein Advisors Global Dividend Kings® Portfolio is a unit investment trust (UIT) which seeks total return through a combination of dividend income and capital appreciation; however, there is no assurance the objective will be met. A UIT is an investment vehicle which consists of a professionally selected unmanaged portfolio of securities which are held for a predetermined period of time. The value of the units of the trust will fluctuate each day with the value of the underlying securities; therefore it is possible to lose money by investing in the trust. The stocks are selected for the trust by Richard Bernstein Advisors (RBA) using a comprehensive process and held for approximately two years. CO M PA N I E S I N T H E M S C I AC W I I N D E X The MSCI ACWI Index is comprised of 23 developed and 23 emerging market countries. DIVIDEND SCREEN Screen for companies that have increased their trailing 12-month dividend each year for the previous 5 years. PORTFOLIO SELEC TION PROCESS RBA’s quantitative techniques seek income in a risk-controlled process. RBA starts with the companies listed on the MSCI ACWI Index. This index captures large and mid-cap representation across 23 developed and 23 emerging market countries. From this universe, RBA then screens for companies that have increased their trailing 12-month dividend each year for the previous 5 years. Special dividends are not included. The highest yielding stocks are removed, as they tend to be most susceptible to dividend cuts. RBA then uses a proprietary optimization method to weight the stocks. This final step attempts to reduce the volatility of the overall portfolio, while maximizing the yield. EXCLUDE SPECIAL DIVIDENDS A “special dividend” is typically a one-time payment. OPTIMIZE FOR YIELD / MINIMIZE AC TIVE RISK EXPOSURE PORTFOLIO TICKER COMPANY NAME PRICE* CONSUMER DISCRETIONARY BMW GY Bayerische Motoren Werke (BMW) AG $92.79 TFG SJ The Foschini Group Limited 10.43 KSS Kohl’s Corporation 38.24 M Macy’s, Inc. 22.68 7201 JP Nissan Motor Co., Ltd. 10.07 1928 JP Sekisui House, Ltd. 17.26 SESG FP SES S.A. 22.34 TGT Target Corporation 51.07 CONSUMER STAPLES 1044 HK Hengan International Group Company Ltd. 7.55 ENERGY ALA CN AltaGas Ltd. 22.73 ENG SM Enagas S.A. 26.73 ENB CN Enbridge Inc. 39.80 IPL CN Inter Pipeline Ltd. 19.38 PPL CN Pembina Pipeline Corporation 33.16 STO Statoil ASA 16.32 TRGP Targa Resources Corp. 43.61 TICKER COMPANY NAME FINANCIALS CS FP AXA S.A. CIX CN CI Financial Corp. CBA AU Commonwealth Bank of Australia MQG AU Macquarie Group Limited MUV2 GY Muenchener RueckversicherungsGesellschaft AG NED SJ Nedbank Group Limited NDA SS Nordea Bank AB PFG LN Provident Financial Plc SAMPO FH Sampo Oyj SEBA SS Skandinaviska Enskilda Banken AB HEALTH CARE PFE Pfizer Inc. INDUSTRIALS MIC Macquarie Infrastructure Company LLC TCL AU Transurban Group INFORMATION TECHNOLOGY CSCO Cisco Systems, Inc. IBM International Business Machines Corp. WU The Western Union Company PRICE* $28.51 21.47 62.41 66.91 205.36 15.40 12.90 30.57 52.37 12.31 33.35 77.59 8.64 30.90 152.94 18.65 TICKER COMPANY NAME REAL ESTATE BLND LN The British Land Company Plc EXR Extra Space Storage Inc. HYP SJ Hyprop Investments Limited KIM Kimco Realty Corporation LI FP Klepierre NNN National Retail Properties, Inc. O Realty Income Corporation HCN Welltower Inc. TELECOMMUNICATION SERVICES T AT&T Inc. BCE CN BCE Inc. T CN TELUS Corporation VZ Verizon Communications Inc. UTILITIES APA AU APA Group DUK Duke Energy Corporation EMA CN Emera Incorporated 6 HK Power Assets Holdings Limited PEG Public Service Enterprise Group Inc. SO The Southern Company SSE LN SSE Plc UU/ LN United Utilities Group Plc PRICE* $7.84 76.53 8.83 18.43 40.15 38.42 54.69 72.90 36.98 45.09 34.66 43.48 6.79 83.42 36.72 8.70 42.10 47.36 18.99 11.21 *As of the close of business on 7/7/17. Market values are for reference only and are not indicative of your individual cost basis. You should consider the portfolio’s investment objective, risks, and charges and expenses carefully before investing. Contact your financial advisor or call First Trust Portfolios L.P. at the number listed to request a prospectus, which contains this and other information about the portfolio. Read it carefully before you invest. PLEASE SEE THE REVERSE SIDE FOR RISK CONSIDERATIONS First Trust Portfolios L.P. | Member SIPC | Member FINRA 1-800-621-1675 | www.ftportfolios.com RICHARD BERNSTEIN ADVISORS GLOBAL DIVIDEND KINGS® PORTFOLIO SERIES 23 PORTFOLIO SUMMARY HOLDINGS ST YLE ANALYSIS Initial Offering Date: Initial Public Offering Price: l Large-Cap Growth l Large-Cap Value l Mid-Cap Growth l Mid-Cap Value l Small-Cap Growth l Small-Cap Value 7/10/2017 $10.00 per Unit Portfolio Ending Date: 7/9/2019 Estimated Net First Year Distribution per Unit:* $0.4030 Estimated Net Subsequent Year Distribution per Unit:* $0.3987 CUSIPs: 30304K 345(c) 352(r) Fee Accounts CUSIPs: 30304K 360(c) 378(r) Ticker Symbol: HOLDINGS SEC TOR ANALYSIS l Consumer Discretionary l Consumer Staples l Energy l Financials l Health Care l Industrials l Information Technology l Real Estate l Telecommunication Services l Utilities FUJAYX *The estimates are based on annualizing the most recent dividends declared by the issuers of the securities included in the portfolio. The estimated net annual distribution for the subsequent year is expected to be less than the amount for the first year because a portion of the securities included in portfolio will be sold during the first year to pay for organization costs, the deferred sales charge and the creation and development fee. There is no guarantee that the issuers of the securities included in the portfolio will declare dividends in the future or that, if declared, they will either remain at current levels or increase over time. SALES CHARGES (BASED ON A $10 PUBLIC OFFERING PRICE) STANDARD ACCOUNTS Transactional Sales Charges: Creation & Development Fee: Maximum Sales Charge: 6.02% 45.98% 7.14% 36.86% 2.00% 2.00% 16.04% 0.60% 12.88% 19.98% 2.00% 3.99% 4.52% 15.99% 8.02% 15.98% HOLDINGS COMPOSITION Initial 0.00% Deferred 2.25% 0.50% 2.75% The deferred sales charge will be deducted in three monthly installments commencing 10/20/17. When the public offering price is less than or equal to $10.00 per unit, there will be no initial sales charge. If the price exceeds $10.00 per unit, you will pay an initial sales charge. FEE/WRAP ACCOUNTS Maximum Sales Charge: U.S. Stocks: Non-U.S. Stocks: 36.53% 63.47% The holdings characteristics of the portfolio are determined as of the initial date of deposit and may differ slightly from those indicated above due to the requirement that only whole shares be purchased for the portfolio and will likely vary thereafter due to market fluctuations in the underlying securities. For a complete description of these characteristics refer to the prospectus. 0.50% The maximum sales charge for investors in fee accounts consists of the creation and development fee. Investors in fee accounts are not assessed any transactional sales charges. Standard accounts sales charges apply to units purchased as an ineligible asset. The creation and development fee is a charge of $.050 per unit collected at the end of the initial offering period. If the price you pay exceeds $10 per unit, the creation and development fee will be less than 0.50%; if the price you pay is less than $10 per unit, the creation and development fee will exceed 0.50%. In addition to the sales charges listed, UITs are subject to annual operating expenses and organization costs. RISK CONSIDERATIONS An investment in this unmanaged unit investment trust should be made with an understanding of the risks involved with owning common stocks, such as an economic recession and the possible deterioration of either the financial condition of the issuers of the equity securities or the general condition of the stock market. An investment in a portfolio containing small-cap and mid-cap companies is subject to additional risks, as the share prices of small-cap companies and certain mid-cap companies are often more volatile than those of larger companies due to several factors, including limited trading volumes, products, financial resources, management inexperience and less publicly available information. An investment in a portfolio containing equity securities of foreign issuers is subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers. Risks associated with investing in foreign securities may be more pronounced in emerging markets where the securities markets are substantially smaller, less developed, less liquid, less regulated, and more volatile than the U.S. and developed foreign markets. Certain of the securities in the portfolio are issued by Real Estate Investment Trusts (REITs). Companies involved in the real estate industry are subject to changes in the real estate market, vacancy rates and competition, volatile interest rates and economic recession. This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity. There may be tax consequences unless units are purchased in an IRA or other qualified plan. NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE The value of the securities held by the trust may be subject to steep declines or increased volatility due to changes in performance or perception of the issuers. The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients. RBGDIN230717