First Trust Advisors LP Anno

First Trust Advisors LP (“FTA”) announced today that First Trust Advisors LP (“First”), investment sub-advisor of First Trust Mortgage Income Fund (NYSE: FMY) (the “Fund”), will release an update on the market and the Fund for financial professionals and investors. The update will be available Wednesday, October 20, 2021 at 5:00 p.m. EST until 11:59 p.m. EST on Saturday, November 20, 2021. To listen to the update, follow these instructions:

– Dial: 888-203-1112; International 719-457-0820; and access code # 5918796. The update will be available from Wednesday, October 20, 2021 at 5:00 p.m. EST until 11:59 p.m. EST on Saturday, November 20, 2021.

FTA is a federally registered investment advisor and acts as the investment advisor to the Fund. FTA and its affiliate First Trust Portfolios LP (“FTP”), a brokerage firm registered with FINRA, are private companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $ 207 billion as of September 30, 2021 through mutual funds, exchange-traded funds, closed-end funds, mutual funds and managed accounts distinct. FTA is the supervisor of the First Trust mutual funds, while FTP is the sponsor. FTP is also a distributor of UCITS units and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.

Main risk factors: The return on investments and the market value of an investment in the Fund will fluctuate. Stocks, when sold, may be worth more or less than their original cost. There can be no assurance that the Fund’s investment objectives will be achieved. The Fund may not be suitable for all investors.

The securities held by a fund, as well as the shares of a fund itself, are subject to market fluctuations caused by factors such as general economic conditions, political events, regulatory or market developments, changes in interest rates and perceived trends in securities prices. The shares of a fund could lose value or underperform other investments because of the risk of loss associated with these market movements. In addition, local, regional or global events such as war, acts of terrorism, the spread of infectious diseases or other public health issues, recessions or other events could have a significant negative impact on a person. funds and its investments. Such events can affect certain geographic regions, countries, sectors and industries more significantly than others. The respiratory disease outbreak known as COVID-19 in December 2019 caused significant volatility and declines in global financial markets, resulting in losses for investors. While vaccine development has slowed the spread of the virus and allowed the resumption of “reasonably” normal business activity in the United States, many countries continue to impose lockdowns in an attempt to slow the spread. In addition, there is no guarantee that the vaccines will be effective against emerging variants of the disease.

The debt securities in which the Fund invests are subject to certain risks, including issuer risk, reinvestment risk, prepayment risk, credit risk, interest rate risk and liquidity risk. . Issuer risk is the risk that the value of fixed income securities will decline for a number of reasons directly related to the issuer. Reinvestment risk is the risk that the income of the Fund portfolio will decline if the Fund invests the proceeds of matured, traded or called bonds at market interest rates lower than the current rate of return of the Fund portfolio. Prepayment risk is the risk that, upon prepayment, the actual outstanding debt on which the Fund earns interest income will be reduced. Credit risk is the risk that an issuer of a security will be unable or unwilling to make payments of dividends, interest and / or principal when due and that the value of a security may decline over time. result. Interest rate risk is the risk that fixed income securities will lose value because of changes in market interest rates. Liquidity risk is the risk that illiquid and restricted securities may be difficult to value and sell at a fair price at times when the Fund considers it desirable to do so.

A mortgage-backed security can be adversely affected by the quality of the underlying mortgages to that security and by the structure of its issuer. For example, if a mortgage underlying a particular mortgage title defaults, that security’s value may decrease. In addition, a downturn in residential or commercial real estate markets or a general economic downturn could negatively affect both the price and liquidity of mortgage-backed securities issued by the private sector. A portion of the Fund’s managed assets may be invested in subordinated classes of mortgage backed securities. These subordinate classes are subject to a higher risk of non-payment than the senior classes of the same issuer or agency.

To the extent that a fund invests in floating or variable rate bonds which use the London Interbank Offered Rate (“LIBOR”) as the benchmark interest rate, it is subject to LIBOR risk. The UK Financial Conduct Authority, which regulates LIBOR, will stop offering LIBOR as a benchmark rate over a phase-out period that will begin immediately after December 31, 2021. LIBOR unavailability or replacement may affect the value. , liquidity or return on certain investments of the fund and may incur costs associated with closing positions and entering into new transactions. The potential effects of leaving LIBOR on the fund or on certain instruments in which the fund invests may be difficult to determine, and they may vary depending on various factors, and they could result in losses for the fund.

Investments in asset-backed or mortgage-backed securities offered by non-government issuers, such as commercial banks, savings and loan companies, private mortgage insurance companies, mortgage banks and other secondary market issuers are subject to additional risks.

The main risks associated with the use of futures contracts are (a) the imperfect correlation between the change in the market value of the instruments or indices underlying the futures contracts and the price of the futures contracts; (b) the possible absence of a liquid secondary market for a futures contract and the resulting inability to close a futures contract when desired; (c) losses caused by unforeseen market movements, which are potentially unlimited; (d) the failure of the investment adviser to correctly forecast the direction of securities prices, interest rates, currency exchange rates and other economic factors; and (e) the possibility that the counterparty will default in the performance of its obligations.

If the price of a security sold short increases, the Fund may have to hedge its short position at a higher price than the short sale price, resulting in a loss.

Repo agreements are subject to the risk of failure. If the Fund’s counterparty defaults and the Fund is delayed or prevented from recovering the collateral, or if the value of the collateral is insufficient, the Fund may realize a loss.

The use of leverage can lead to additional risks and costs and can magnify the effect of any loss.

The risks associated with investing in the Fund are described in the prospectus, reports to shareholders and other regulatory documents.

The information presented is not intended to constitute an investment recommendation or advice to any particular person. By providing this information, First Trust does not undertake to give advice in a fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for independently assessing investment risks and exercising independent judgment in determining whether investments are appropriate for their clients.

The Fund’s daily closing price on the New York Stock Exchange and net asset value per share and other information are available at or by calling 1-800-988-5891.

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