First Trust High Income Long Short Fund of Beneficial Interest (FSD)

About

First Trust High Income Long/Short Fund is a diversified, closed-end management investment company. The Fund's primary investment objective is to provide current income. The Fund's secondary objective is capital appreciation. The Fund seeks to achieve its investment objectives by investing, under normal market conditions, a majority of its assets in a diversified portfolio of the United States and foreign, including emerging markets high-yield corporate fixed-income securities of varying maturities that are rated below-investment grade at the time of purchase. It invests in corporate fixed-income securities, which include corporate bonds, debentures, notes, commercial paper and other similar types of corporate debt instruments. The Fund invests in various sectors, such as basic industry, healthcare, capital goods, telecommunications, automotive, banking, media, energy, leisure, insurance and financial services. The Fund's investment advisor is First Trust Advisors L.P.