The trust seeks to provide high current income with capital appreciation potential by investing in a portfolio primarily consisting of common stock of closed-end investment companies. The trust is structured as a Regulated Investment Company (RIC).

Attractive Opportunity in Closed-End Funds

Why Closed-End Funds Today? Many closed-end funds (CEFs) are utilized by investors as income-generating vehicles and are, we believe, worth considering given many investors’ strong appetite for investments that offer income/cash flow coupled with the added benefit of potential capital appreciation.

Selecting a CEF for investment requires significant time and research.  Utilize AAM’s expertise to invest in a diversified, professionally selected portfolio. AAM’s Tactical Income Closed-End Portfolio is comprised of our highest conviction ideas from various asset classes and geographic markets.  It is selected utilizing a multi-factor approach based on yield, performance and premium/discount to net asset value (NAV) when compared to its peers and historic average.

Because a CEF’s shares trade in the market based on investor demand, the CEF may trade at a price higher or lower than its NAV. A CEF with a share price higher than its NAV is said to be selling at a “premium” to the NAV. A CEF with a share price lower than its NAV is said to be selling at a “discount” to the NAV. For example, if a CEF has an NAV of $100, based on the current value of its portfolio, but is priced at $90, it is said to be selling at a 10% discount to NAV.

Pricing Summary (As of 12/17/2018)
Sales Charges
30Commission 2.75 % $9.0242 2.00
84Fee Based 0.57 % $8.8260 0.00
85Rollover 2.75 % $9.0242 2.00
Sales charges are as a percentage of the public offer price per unit.
See prospectus for complete details.
Additional Risks and Considerations

An investment in this unmanaged unit investment trust should be made with an understanding of the following:

Closed-End Funds
Closed-end funds are actively managed investment companies. Closed-end funds are subject to various risks, including management's ability to meet the fund's investment objective, and to manage the portfolio when the underlying securities are redeemed or sold, during periods of market turmoil and as investors' perceptions regarding closed-end funds or their underlying investments change. Shares of closed-end funds frequently trade at a discount to their net asset value in the secondary market and the net asset value of closed-end fund shares may decrease.
Estimated Net Income
Estimated Net Income is generally based on the most recent dividend declared by each security in the trust portfolio less estimated trust expenses. Please note that for certain trusts holding foreign securities, the estimated income may use the actual ordinary dividends paid on the underlying securities during the previous twelve months to calculate the dividend yield and adjusted for foreign withholding taxes. This per unit estimate will vary with changes in fees and expenses, actual dividends received, and with the sale of securities. The distribution decreases in subsequent years as a result of organizational costs and deferred sales charge. There is no guarantee that the issuers of the securities included in the trust will declare distributions in the future or that, if declared, they will remain at current levels.
Foreign Securities
Securities of foreign issuers held by the underlying funds in the trust present risks beyond those of U.S. issuers. These risks may include market and political factors related to the issuer's foreign market, international trade conditions, less regulation, smaller or less liquid markets, increased volatility, differing accounting practices and changes in the value of foreign currencies.
Securities Prices & Objective
Unit values will fluctuate with the portfolio of underlying securities and may be worth more or less than the original purchase price at the time of redemption. There is no guarantee that the objective of the portfolio will be achieved.
The trust sponsor and/or trustee may terminate the trust earlier than the specified termination date upon the occurrence of certain specified events as provided in the prospectus.

Investors should consider the trust's investment objectives, risks, charges and expenses carefully before investing. Consult your financial advisor for a prospectus or download a prospectus online which contains this and other information about the trust. Read the prospectus carefully before you invest or send money.

This product information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state, jurisdiction, or to any person to whom it is not lawful to make such an offer.

All products shown above may not be available within your firm. Please consult your AAM Representative for more information.

Market Values, Estimated Returns & Estimated Net Income will fluctuate. Market values are for reference only and are not indicative of your individual cost basis. You are advised to verify pricing information prior to the execution of a security trade.


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Unit Investment Trusts (UITs) are sold only by prospectus. Investors should read the prospectus carefully before investing which contains a detailed explanation of the investment objectives, risks, charges, and expenses. Investors should consult their accounting, legal, or tax advisor.

* Information labeled “Fee-Based Account” provides information pertaining to units purchased through registered investment advisers, certified financial planners or registered broker-dealers who in each case either charge investor accounts periodic fees for brokerage services, financial planning, investment advisory or asset management services, or provide such services in connection with an investment account for which a comprehensive “wrap fee” charge is imposed. You should consult your financial advisor to determine whether you can benefit from these accounts and whether your unit purchases are eligible for this discount. To purchase units in these accounts, your financial advisor must purchase units designated with one of the Fee Account CUSIP numbers, if available. The amounts shown are different from what would be applicable for units purchased in other accounts (i.e. “Commission-Based Accounts”) not eligible for this discount. See your prospectus and consult your financial advisor for more information about eligibility and applicability of the Fee-Based Account discount.