First Trust Announces Shareholder Approval of New Investment Sub-Advisory Agreement and "Manager of Managers" Structure for First Trust Smith Opportunistic Fixed Income ETF (FIXD) and First Trust Smith Unconstrained Bond ETF (UCON)
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 14 2025
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Source: Newsfilter
New Sub-Advisory Agreement: First Trust Advisors L.P. announced that shareholders approved a new investment sub-advisory agreement with Smith Capital Investors, LLC for the First Trust Smith Opportunistic Fixed Income ETF and First Trust Smith Unconstrained Bond ETF, following the termination of TCW Investment Management Company as the previous sub-advisor.
Manager of Managers Structure: The Board of Trustees also approved a "manager of managers" structure allowing FTA to enter into and amend investment sub-advisory agreements without needing shareholder approval, enhancing flexibility in managing the Funds' investment portfolios.
Analyst Views on FIXD
Wall Street analysts forecast FIXD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FIXD is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
