0001445546-13-001692.txt : 20130322
0001445546-13-001692.hdr.sgml : 20130322
20130322114103
ACCESSION NUMBER: 0001445546-13-001692
CONFORMED SUBMISSION TYPE: 497
PUBLIC DOCUMENT COUNT: 6
FILED AS OF DATE: 20130322
DATE AS OF CHANGE: 20130322
EFFECTIVENESS DATE: 20130322
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: FIRST TRUST SERIES FUND
CENTRAL INDEX KEY: 0001497778
IRS NUMBER: 000000000
STATE OF INCORPORATION: MA
FILING VALUES:
FORM TYPE: 497
SEC ACT: 1933 Act
SEC FILE NUMBER: 333-168727
FILM NUMBER: 13709875
BUSINESS ADDRESS:
STREET 1: 120 EAST LIBERTY DRIVE, SUITE 400
CITY: WHEATON
STATE: IL
ZIP: 60187
BUSINESS PHONE: 630-765-8000
MAIL ADDRESS:
STREET 1: 120 EAST LIBERTY DRIVE, SUITE 400
CITY: WHEATON
STATE: IL
ZIP: 60187
0001497778
S000030198
First Trust Preferred Securities and Income Fund
C000092932
Class A
FPEAX
C000092933
Class C
FPECX
C000092934
Class F
FPEFX
C000092935
Class I
FPEIX
C000092936
Class R3
FPERX
0001497778
S000030199
First Trust/Confluence Small Cap Value Fund
C000092937
Class R3
FOVRX
C000092938
Class A
FOVAX
C000092939
Class C
FOVCX
C000092941
Class I
FOVIX
497
1
ftseries_497.txt
DEFINITIVE MATERIALS
CHAPMAN AND CUTLER LLP 111 WEST MONROE STREET
CHICAGO, ILLINOIS 60603
March 22, 2013
Securities and Exchange Commission
100 F Street, N.E.
Washington, DC 20549
Re: First Trust Series Fund (the "Registrant")
(Registration Nos. 333-168727 and 811-22452)
-------------------------------------------------
Ladies and Gentlemen:
On behalf of First Trust Series Fund (the "Registrant"), we are
transmitting for electronic filing pursuant to Rule 497(e) under the Securities
Act of 1933, as amended, the exhibits containing interactive data format
risk/return summary information that mirrors the risk/return summary information
in the form of Supplement to the Prospectus and Statement of Additional
Information for the First Trust Preferred Securities and Income Fund and First
Trust/Confluence Small Cap Value Fund, each a series of the Registrant, filed
pursuant to Rule 497(e) on March 18, 2013.
If you have any questions or comments, please telephone the undersigned at
(312) 845-3484.
Very truly yours,
CHAPMAN AND CUTLER LLP
By: /s/ Morrison C. Warren
--------------------------
Morrison C. Warren
Enclosures
EX-101.INS
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<p>SUMMARY INFORMATION</p>
<p>SUMMARY INFORMATION</p>
<p>INVESTMENT OBJECTIVE</p>
<p>INVESTMENT OBJECTIVE</p>
<p>The First Trust Preferred Securities and Income Fund (the "Fund") seeks to provide current income and total return.</p>
<p>The First Trust/Confluence Small Cap Value Fund (the "Fund") seeks to provide long-term capital appreciation.</p>
<p>FEES AND EXPENSES OF THE FUND</p>
<p>FEES AND EXPENSES OF THE FUND</p>
<p>This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for
sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund or in
other First Trust Portfolios L.P. mutual funds. More information about these and other discounts, as well as eligibility requirements
for each share class, is available from your financial advisor and in "Share Classes" on page 21 of this prospectus, "Investment
in Fund Shares" on page 24 of this prospectus and "Purchase and Redemption of Fund Shares" on page 52 of the Fund's statement
of additional information ("SAI").</p>
<p>This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for
sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund or in
other First Trust Portfolios L.P. mutual funds. More information about these and other discounts, as well as eligibility requirements
for each share class, is available from your financial advisor and in "Share Classes" on page 21 of this prospectus, "Investment
in Fund Shares" on page 24 of this prospectus and "Purchase and Redemption of Fund Shares" on page 52 of the Fund's statement
of additional information ("SAI").</p>
<p>SHAREHOLDER FEES (fees paid directly from your investment)</p>
<p>SHAREHOLDER FEES (fees paid directly from your investment)</p>
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<p>ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment)</p>
<p>ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment)</p>
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<p>EXAMPLE</p>
<p>EXAMPLE</p>
<p>The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other
mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated. The example also assumes
that your investment has a 5% return each year and that the Fund's annual operating expenses remain at current levels until February
28, 2014 and then will not exceed 1.50% from March 1, 2014 until February 28, 2023. Although your actual costs may be higher or
lower, based on these assumptions your costs would be:</p>
<p>The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other
mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated. The example also assumes
that your investment has a 5% return each year and that the Fund's annual operating expenses remain at current levels until February
28, 2014 and then will not exceed 1.70% from March 1, 2014 until February 28, 2023. Although your actual costs may be higher or
lower, based on these assumptions your costs would be:</p>
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<p>PORTFOLIO TURNOVER</p>
<p>PORTFOLIO TURNOVER</p>
<p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).
A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are
held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the example, affect
the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 60% of the average value
of its portfolio.</p>
<p>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).
A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are
held in a taxable account. These costs, which are not reflected in Annual Fund Operating Expenses or in the example, affect
the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 11% of the average value
of its portfolio.</p>
<p>PRINCIPAL INVESTMENT STRATEGIES</p>
<p>PRINCIPAL INVESTMENT STRATEGIES</p>
<p>The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its net
assets (including investment borrowings) in preferred securities and other securities with similar economic characteristics.
Securities that have economic characteristics that are similar to preferred securities include certain debt instruments. Such
debt instruments are typically issued by corporations, generally in the form of interest bearing notes, or by an affiliated
business trust of a corporation, generally in the form of (i) beneficial interests in subordinated debentures or similarly
structured securities or (ii) more senior debt securities that pay income and trade in a manner similar to preferred securities.
The Fund may also invest in more traditional corporate debt securities and U.S. government securities.</p>
<p>Preferred securities generally pay fixed or adjustable-rate distributions to investors and have preference over common
stock in the payment of distributions and the liquidation of a company's assets, but are generally junior to all forms of
the company's debt, including both senior and subordinated debt; therefore, the risks and potential rewards of investing in
the Fund may at times be similar to the risks and potential rewards of investing in both equity funds and bond funds. Because
the issuers of preferred securities are often financial companies, the Fund intends to concentrate (invest at least 25% of
its net assets) in the industry or group of industries that comprise the financial sector, which may include banks, thrifts,
brokerage firms, broker-dealers, investment banks, finance companies, real estate investment trusts ("REITs") and companies
involved in the insurance industry.</p>
<p>Under normal market conditions, the Fund invests substantially all of its net assets in investment grade securities. Investment
grade quality securities are those that, at the time of purchase, are rated at least "BBB-" or higher by Standard & Poor's
Ratings Group, a division of the McGraw Hill Companies, Inc. ("S&P"), or "Baa3" or higher by Moody's Investors Service,
Inc. ("Moody's") or comparably rated by another nationally recognized statistical rating organization ("NRSRO") or, if unrated,
determined by the Sub-Advisor to be of comparable credit quality. In the event that a security is rated by multiple NRSROs
and receives different ratings, the Fund will treat the security as being rated in the highest rating category received from
an NRSRO.</p>
<p>Under normal market conditions, the Fund may invest up to 15% of its net assets in cash and/or cash equivalents. The Fund
may invest in securities issued by companies domiciled in the United States, U.S. dollar-denominated depositary receipts and
U.S. dollar-denominated foreign securities. The Fund may invest up to 15% of its net assets in Rule 144A Securities. Rule
144A Securities are generally subject to resale restrictions and may be illiquid.</p>
<p>The Fund is classified as "non-diversified" under the Investment Company Act of 1940, as amended (the "1940 Act") and as
a result may invest a relatively high percentage of its assets in a limited number of issuers. The Fund is only limited as
to the percentage of its assets which may be invested in the securities of any one issuer by diversification requirements
imposed by the Internal Revenue Code of 1986, as amended (the "Code").</p>
<p>The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its net
assets (including investment borrowings) in equity securities of U.S. listed companies with small market capitalizations ("Small-Cap
Companies") at the time of investment. Currently, a company will be considered to be a Small-Cap Company if its market capitalization
at the time of purchase is within the range of companies in the Russell 2000 Index or the S&P SmallCap 600 Index during
the most recent 12-month period (based on month-end data). Because market capitalization is measured at the time of initial
purchase, if the market capitalization of a company included in the Fund grows above "small-cap," the Fund shall not be required
to sell such security solely because it is no longer a Small-Cap Company.</p>
<p>The portfolio managers seek to invest in Small-Cap Companies that in the portfolio managers' opinion have produced solid
returns over extended periods of time. The portfolio managers' investment strategy is based on the rationale that a company
which creates superior value, reflected in above-average operating returns, will ultimately have a stock price reflecting
that superior performance.</p>
<p>The portfolio managers follow a disciplined, research driven, investment process which seeks to uncover companies trading
at discounts to their intrinsic values. By investing in stocks according to a value-based investment philosophy, the portfolio
managers seek to enhance the long-term growth potential while limiting downside risk. Companies in which the portfolio managers
invest are those that the portfolio managers expect to create above-average growth in value relative to their industries and
to the overall market. These companies may include real estate investment trusts ("REITs") and business development companies
("BDCs"). Once such a company is identified, an extensive valuation analysis is performed to determine if its stock price
reflects its underlying value.</p>
<p>PRINCIPAL RISKS</p>
<p>PRINCIPAL RISKS</p>
<p>You could lose money by investing in the Fund. There can be no assurance that the Fund will achieve its investment objective.
An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation
or any other governmental agency.</p>
<p>CONCENTRATION RISK. A fund concentrated in a single industry or sector is likely to present more risks than a fund that
is broadly diversified over several industries or sectors. Compared to the broad market, an individual industry or sector
may be more strongly affected by changes in the economic climate, broad market shifts, moves in a particular dominant stock,
or regulatory changes.</p>
<p>CREDIT RISK Credit risk is the risk that an issuer of a security may be unable or unwilling to make dividend, interest
and principal payments when due and the related risk that the value of a security may decline because of concerns about the
issuer's ability or willingness to make such payments. In addition, parties to other financial contracts with the Fund could
default on their obligations.</p>
<p>CURRENCY RISK. Although the Fund's net asset value is determined on the basis of U.S. dollars, because the Fund invests
in foreign securities, you may lose money if the local currency of a foreign market depreciates against the U.S. dollar, even
if the local currency value of the Fund's holdings goes up.</p>
<p>DEPOSITARY RECEIPTS RISK. Depositary receipts may be less liquid than the underlying shares in their primary trading market.
Any distributions paid to the holders of depositary receipts are usually subject to a fee charged by the depositary. Holders
of depositary receipts may have limited voting rights, and investment restrictions in certain countries may adversely impact
the value of depositary receipts because such restrictions may limit the ability to convert equity shares into depositary
receipts and vice versa. Such restrictions may cause equity shares of the underlying issuer to trade at a discount or premium
to the market price of the depositary receipts.</p>
<p>FINANCIAL COMPANY RISK. The Fund invests in the securities of financial companies, which may include banks, thrifts, brokerage
firms, broker-dealers, investment banks, finance companies, REITs and companies involved in the insurance industry. Banks,
thrifts and their holding companies are especially subject to the adverse effects of economic recession; government regulation;
decreases in the availability of capital; volatile interest rates; portfolio concentrations in geographic markets and in commercial
and residential real estate loans; and competition from new entrants in their fields of business.</p>
<p>ILLIQUID SECURITIES RISK. Illiquid securities involve the risk that the securities will not be able to be sold at the time
desired by the Fund or at prices approximately the value at which the Fund is carrying the securities on its books.</p>
<p>INCOME RISK. If interest rates fall, the income from the Fund's portfolio will decline as the Fund invests the proceeds
from new share sales, or from matured or called debt securities, at interest rates that are below the portfolio's current
earnings rate.</p>
<p>INTEREST RATE RISK. If interest rates rise, the prices of fixed-rate preferred securities and other fixed-rate debt securities
held by the Fund will fall.</p>
<p>MARKET RISK. Market risk is the risk that a particular security owned by the Fund or shares of the Fund in general may
fall in value. Securities are subject to market fluctuations caused by such factors as economic, political, regulatory or
market developments, changes in interest rates and perceived trends in stock prices. Overall stock values could decline generally
or could underperform other investments.</p>
<p>NON-DIVERSIFICATION RISK. The Fund is classified as "non-diversified" under the 1940 Act. As a result, the Fund is only
limited as to the percentage of its assets which may be invested in the securities of any one issuer by the diversification
requirements imposed by the Code. The Fund may invest a relatively high percentage of its assets in a limited number of issuers.
As a result, the Fund may be more susceptible to a single adverse economic or regulatory occurrence affecting one or more
of these issuers, experience increased volatility and be highly concentrated in certain issuers.</p>
<p>NON-U.S. SECURITIES RISK. The Fund invests in securities of non-U.S. issuers, including non-U.S. dollar-denominated securities
traded outside of the United States and U.S. dollar-denominated securities of non-U.S. issuers traded in the United States.
Such securities are subject to higher volatility than securities of domestic issuers due to possible adverse political, social
or economic developments; restrictions on foreign investment or exchange of securities; lack of liquidity; currency exchange
rates; excessive taxation; government seizure of assets; different legal or accounting standards; and less government supervision
and regulation of exchanges in foreign countries.</p>
<p>PREFERRED SECURITIES RISK. Preferred securities combine some of the characteristics of both common stocks and bonds. Preferred
securities are typically subordinated to bonds and other debt instruments in a company's capital structure, in terms of priority
to corporate income, and therefore will be subject to greater credit risk than those debt instruments. Preferred securities
are also subject to credit risk, interest rate risk and income risk.</p>
<p>REIT RISK. Investing in REITs involves risks related to their structure and focus, which include, but are not limited to,
dependency upon management skills, limited diversification, the risks of locating and managing financing for projects, heavy
cash flow dependency, possible default by borrowers, the costs and potential losses of self-liquidation of one or more holdings,
the risk of a possible lack of mortgage funds and associated interest rate risks, overbuilding, property vacancies, increases
in property taxes and operating expenses, changes in zoning laws, losses due to environmental damages, changes in neighborhood
values and appeal to purchases, the possibility of failing to maintain exemptions from registration under the 1940 Act and,
in many cases, relatively small market capitalization, which may result in less market liquidity and greater price volatility.
Fund shareholders indirectly pay REIT fees and expenses.</p>
<p>You could lose money by investing in the Fund. There can be no assurance that the Fund will achieve its investment objective.
An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation
or any other governmental agency.</p>
<p>BDC RISK. The Fund may invest in BDCs which may carry risks similar to those of a private equity or venture capital fund.
BDCs are not redeemable at the option of the shareholder and they may trade in the market at a discount to their net asset
value. The BDCs held by the Fund may employ the use of leverage their portfolios through borrowings or the issuance of preferred
stock. While leverage often serves to increase the yield of a BDC, this leverage also subjects a BDC to increased risks, including
the likelihood of increased volatility and the possibility that a BDC's common share income will fall if the dividend rate
of the preferred shares or the interest rate on any borrowings rises.</p>
<p>MARKET RISK. Market risk is the risk that a particular security owned by the Fund or shares of the Fund in general may
fall in value. Securities are subject to market fluctuations caused by such factors as economic, political, regulatory or
market developments, changes in interest rates and perceived trends in stock prices. Overall stock values could decline generally
or could underperform other investments.</p>
<p>MARKET CAPITALIZATION RISK. The Fund normally invests at least 80% of its assets in Small-Cap Companies. Because the market
capitalization is measured at the time of its initial purchase, the Fund will not be forced to sell a stock because the stock
has exceeded or fallen below the market capitalization range. Because of market movement, there can be no assurance that the
securities held by the Fund will stay within the given market capitalization range. As a result, the Fund may be exposed to
additional risk or investors may not be given the opportunity to invest fully in a certain market capitalization range.</p>
<p>REAL ESTATE INVESTMENT RISK. The Fund invests in companies in the real estate industry, including REITs. Therefore, the
Fund is subject to the risks associated with investing in real estate, which may include, but are not limited to, fluctuations
in the value of underlying properties; defaults by borrowers or tenants; market saturation; changes in general and local economic
conditions; decreases in market rates for rents; increases in competition, property taxes, capital expenditures or operating
expenses; and other economic, political or regulatory occurrences affecting companies in the real estate industry.</p>
<p>REIT RISK. Investing in REITs is subject to risks related to their structure and focus, which include, but are not limited
to, dependency upon management skills, limited diversification, the risks of locating and managing financing for projects,
heavy cash flow dependency, possible default by borrowers, the costs and potential losses of self-liquidation of one or more
holdings, the risk of a possible lack of mortgage funds and associated interest rate risks, overbuilding, property vacancies,
increases in property taxes and operating expenses, changes in zoning laws, losses due to environmental damages, changes in
neighborhood values and appeal to purchases, the possibility of failing to maintain exemptions from registration under the
Investment Company Act of 1940, as amended (the "1940 Act"), and, in many cases, relatively small market capitalization, which
may result in less market liquidity and greater price volatility. Fund shareholders indirectly pay REIT fees and expenses.</p>
<p>SMALL CAP RISK. The Fund invests in Small-Cap Companies. Such companies may be more vulnerable to adverse general market
or economic developments, and their securities may be less liquid and may experience greater price volatility than larger,
more established companies as a result of several factors, including limited trading volumes, products or financial resources,
management inexperience and dependence on a few key people, and less publicly available information. Accordingly, such companies
are generally subject to greater market risk than larger, more established companies. The market movements of equity securities
issued by issuers with smaller capitalizations may be more abrupt or erratic than the market movements of equity securities
of larger, more established companies or the stock market in general. Historically, smaller capitalization companies have
sometimes gone through extended periods when they did not perform as well as larger companies. In addition, equity securities
of Small-Cap Companies may be less liquid than those of larger companies.</p>
<p>VALUE INVESTING RISK. The Fund focuses its investments on securities that the portfolio managers believe are undervalued
or inexpensive relative to other investments. These types of securities may present risks in addition to the general risks
associated with investing in them. These securities generally are selected on the basis of an issuer's business and economic
fundamentals or the securities' current and projected credit profiles, relative to current market price. Such securities are
subject to the risk of misestimating certain fundamental factors. Disciplined adherence to a "value" investment mandate during
periods in which that style is "out of favor" can result in significant underperformance relative to overall market indices
and other managed investment vehicles that pursue growth style investments and/or flexible style mandates.</p>
<p>ANNUAL TOTAL RETURN</p>
<p>ANNUAL TOTAL RETURN</p>
<p>The bar chart and table below illustrate the calendar year return of the Fund's Class A shares for the past year as well
as the average annual Fund returns for the one year and since inception periods ended December 31, 2012. The bar chart and
table provide an indication of the risks of investing in the Fund by showing how the Fund's Class A shares' average annual
total returns compare to those of a broad-based securities market index. See "Total Return Information" for additional performance
information regarding the Fund. The Fund's performance information is accessible on the Fund's website at www.ftportfolios.com.</p>
<p>Returns before taxes do not reflect the effects of any income or capital gains taxes. All after-tax returns are calculated
using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local
tax. Returns after taxes on distributions reflect the taxed return on the payment of dividends and capital gains. Returns
after taxes on distributions and sale of shares assume you sold your shares at period end, and, therefore, are also adjusted
for any capital gains or losses incurred. After-tax returns are shown for only Class A shares, and after-tax returns for other
Classes will vary. Returns for the market index do not include expenses, which are deducted from Fund returns, or taxes.</p>
<p>Your own actual after-tax returns will depend on your specific tax situation and may differ from what is shown here. After-tax
returns are not relevant to investors who hold Fund shares in tax-deferred accounts such as individual retirement accounts
(IRAs) or employee-sponsored retirement plans.</p>
<p>Imposition of the Fund's sales load is not reflected in the bar chart below. If the sales load was reflected, returns would
be less than those shown.</p>
<p>The bar chart and table below illustrate the calendar year return of the Fund's Class A shares for the past year as well
as the average annual Fund returns for the one year and since inception periods ended December 31, 2012. The bar chart and
table provide an indication of the risks of investing in the Fund by showing how the Fund's Class A Shares' average annual
total returns compare to those of two broad-based securities market indices. See "Total Return Information" for additional
performance information regarding the Fund. The Fund's performance information is accessible on the Fund's website at www.ftportfolios.com.</p>
<p>Returns before taxes do not reflect the effects of any income or capital gains taxes. All after-tax returns are calculated
using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local
tax. Returns after taxes on distributions reflect the taxed return on the payment of dividends and capital gains. Returns
after taxes on distributions and sale of shares assume you sold your shares at period end, and, therefore, are also adjusted
for any capital gains or losses incurred. After-tax returns are shown for only Class A shares, and after-tax returns for other
Classes will vary. Returns for the market index do not include expenses, which are deducted from Fund returns, or taxes.</p>
<p>Your own actual after-tax returns will depend on your specific tax situation and may differ from what is shown here. After-tax
returns are not relevant to investors who hold Fund shares in tax-deferred accounts such as individual retirement accounts
(IRAs) or employee-sponsored retirement plans.</p>
<p>Imposition of the Fund's sales load is not reflected in the bar chart below. If the sales load was reflected, returns would
be less than those shown.</p>
<p>FIRST TRUST PREFERRED SECURITIES AND INCOME FUND--TOTAL RETURN ON CLASS A SHARES</p>
<p>FIRST TRUST/CONFLUENCE SMALL CAP VALUE FUND--TOTAL RETURN ON CLASS A SHARES</p>
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<p>During the year ended December 31, 2012, the Fund's highest and lowest calendar quarter returns were 6.75% and 1.26%, respectively,
for the quarters ended March 31, 2012 and December 31, 2012. The Fund's past performance (before and after taxes) is not necessarily
an indication of how the Fund will perform in the future.</p>
<p>During the year ended December 31, 2012, the Fund's highest and lowest calendar quarter returns were 8.25% and -1.33%,
respectively, for the quarters ended March 31, 2012 and June 30, 2012. The Fund's past performance (before and after taxes)
is not necessarily an indication of how the Fund will perform in the future.</p>
<p>AVERAGE ANNUAL TOTAL RETURNS FOR THE FUND FOR THE PERIODS ENDED DECEMBER 31, 2012</p>
<p>AVERAGE ANNUAL TOTAL RETURNS FOR THE FUND FOR THE PERIODS ENDED DECEMBER 31, 2012</p>
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2011-02-25
2011-02-25
2011-02-25
2011-02-25
2011-03-02
2011-01-11
2011-03-02
2011-02-24
2011-02-24
2011-02-24
2011-03-02
2011-01-11
2011-03-02
.0028
.0028
.0028
The contingent deferred sales charge on Class C shares applies only to redemptions within 12 months of purchase.
The investment advisor and sub-advisor have agreed to waive fees and reimburse expenses through February 28, 2014 so that Total Annual Fund Operating Expenses (excluding 12b-1 distribution and service fees, interest expenses, taxes, fees incurred in acquiring and disposing of portfolio securities, and extraordinary expenses) do not exceed 1.15% of the average daily net assets of any class of Fund shares through February 28, 2014, and do not exceed 1.50% from March 1, 2014 through February 28, 2023. Expense limitations may be terminated or modified prior to their expiration only with the approval of the Board of Trustees of the First Trust Series Fund.
Since Inception Index returns are based on inception date of the Class I shares.
The investment advisor and sub-advisor have agreed to waive fees and reimburse expenses through February 28, 2014 so that Total Annual Fund Operating Expenses (excluding 12b-1 distribution and service fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and disposing of portfolio securities, and extraordinary expenses) do not exceed 1.35% of the average daily net assets of any class of Fund shares through February 28, 2014. Total Annual Fund Operating Expenses will not exceed 1.70% from March 1, 2014 through February 28. 2023. Expense limitations may be terminated or modified prior to their expiration only with the approval of the Board of Trustees of the First Trust Series Fund.
EX-101.SCH
3
fpefov-20130321.xsd
XBRL SCHEMA FILE
EX-101.DEF
4
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XBRL DEFINITION FILE
EX-101.LAB
5
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XBRL LABEL FILE
First Trust Preferred Securities and Income Fund
Legal Entity [Axis]
Class A
Share Class [Axis]
After Taxes on Distributions
Performance Measure [Axis]
After Taxes on Distributions and Sales
Class C
Class F
Class I
Class R3
Merrill Lynch Fixed Rate Preferred Stock Index
First Trust/Confluence Small Cap Value Fund
Class A
Class C
Class I
Class R3
Russell 2000(R) Value Index
Russell 2000(R) Index
Risk/Return:
Risk/Return [Heading]
Objective [Heading]
Objective, Primary [Text Block]
Objective, Secondary [Text Block]
Expense [Heading]
Expense Narrative [Text Block]
Shareholder Fees Caption [Text]
Shareholder Fees [Table]
Operating Expenses Caption [Text]
Annual Fund Operating Expenses [Table]
Expense Footnotes [Text Block]
Expenses Deferred Charges [Text Block]
Expenses Range of Exchange Fees [Text Block]
Expense Example [Heading]
Expense Example by Year [Heading]
Expense Example Narrative [Text Block]
Expense Example by, Year, Caption [Text]
Expense Example, With Redemption [Table]
Expense Example, No Redemption Narrative [Text Block]
Expense Example, No Redemption, By Year, Caption [Text]
Expense Example, No Redemption [Table]
Expense Example Footnotes [Text Block]
Expense Example Closing [Text Block]
Portfolio Turnover [Heading]
Portfolio Turnover [Text Block]
Strategy [Heading]
Strategy Narrative [Text Block]
Risk [Heading]
Risk Narrative [Text Block]
Risk Footnotes [Text Block]
Risk Closing [Text Block]
Bar Chart and Performance Table [Heading]
Performance Narrative [Text Block]
Bar Chart Narrative [Text Block]
Bar Chart [Heading]
Bar Chart [Table]
Bar Chart Footnotes [Text Block]
Bar Chart Closing [Text Block]
Performance Table Heading
Performance Table Narrative
Performance [Table]
Market Index Performance [Table]
Performance Table Footnotes
Performance Table Closing [Text Block]
Shareholder Fees:
Shareholder Fees Column [Text]
Maximum Cumulative Sales Charge (as a percentage of Offering Price)
Maximum Cumulative Sales Charge (as a percentage)
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)
Maximum Deferred Sales Charge (as a percentage of Offering Price)
Maximum Deferred Sales Charge (Load) (as a percentage of the lesser of purchase price or redemption proceeds)
Maximum Sales Charge (Load) Imposed on Reinvested Dividends
Redemption Fee (as a percentage of Amount Redeemed)
Redemption Fee
Exchange Fee (as a percentage of Amount Redeemed)
Exchange Fee
Maximum Account Fee (as a percentage of Assets)
Maximum Account Fee
Shareholder Fee, Other
Operating Expenses:
Operating Expenses Column [Text]
Management Fee
Distribution and Service (12b-1) Fees
Distribution or Similar (Non 12b-1) Fees
Component1 Other Expenses
Component2 Other Expenses
Component3 Other Expenses
Other Expenses
Acquired Fund Fees and Expenses
Total Annual Fund Operating Expenses
Fee Waivers and Expense Reimbursements
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements
Expense Example:
Expense Example, By Year, Column [Text]
1 Year
3 Years
5 Years
10 Years
Expense Example, No Redemption:
Expense Example, No Redemption, By Year, Column [Text]
1 Year
3 Years
5 Years
10 Years
Bar Chart Table:
Annual Return Caption [Text]
Annual Return, Column [Text]
Annual Return, Inception Date
Annual Return 1990
Annual Return 1991
Annual Return 1992
Annual Return 1993
Annual Return 1994
Annual Return 1995
Annual Return 1996
Annual Return 1997
Annual Return 1998
Annual Return 1999
Annual Return 2000
Annual Return 2001
Annual Return 2002
Annual Return 2003
Annual Return 2004
Annual Return 2005
Annual Return 2006
Annual Return 2007
Annual Return 2008
Annual Return 2009
Annual Return 2010
Annual Return 2011
Annual Return 2012
Annual Return 2013
Annual Return 2014
Average Annual Return:
Label
1 Year
5 Years
10 Years
Since Inception
Inception Date
Risk/Return Detail [Table]
Document Type
Document Period End Date
Registrant Name
Central Index Key
Amendment Flag
Amendment Description
Trading Symbol
Document Creation Date
Document Effective Date
Prospectus Date
Fee Waiver or Reimbursement over Assets, Date of Termination
Portfolio Turnover, Rate
Expense Breakpoint Discounts [Text]
Expense Breakpoint, Minimum Investment Required [Amount]
Expense Exchange Traded Fund Commissions [Text]
Expenses Represent Both Master and Feeder [Text]
Expenses Explanation of Nonrecurring Account Fee [Text]
Other Expenses, New Fund, Based on Estimates [Text]
Acquired Fund Fees and Expenses, Based on Estimates [Text]
Expenses Other Expenses Had Extraordinary Expenses Been Included [Text]
Expenses Restated to Reflect Current [Text]
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text]
Strategy Portfolio Concentration [Text]
Risk Lose Money [Text]
Risk Nondiversified Status [Text]
Risk Money Market Fund [Text]
Risk Not Insured Depository Institution [Text]
Risk Caption
Risk Column [Text]
Risk [Text]
Performance Information Illustrates Variability of Returns [Text]
Performance One Year or Less [Text]
Performance Additional Market Index [Text]
Performance Availability Phone [Text]
Performance Availability Website Address [Text]
Performance Past Does Not Indicate Future [Text]
Bar Chart Does Not Reflect Sales Loads [Text]
Bar Chart, Reason Selected Class Different from Immediately Preceding Period [Text]
Bar Chart, Returns for Class Not Offered in Prospectus [Text]
Year to Date Return, Label
Bar Chart, Year to Date Return, Date
Bar Chart, Year to Date Return
Highest Quarterly Return, Label
Highest Quarterly Return, Date
Highest Quarterly Return
Lowest Quarterly Return, Label
Lowest Quarterly Return, Date
Lowest Quarterly Return
Performance Table Does Reflect Sales Loads
Performance Table Market Index Changed
Index No Deduction for Fees, Expenses, Taxes [Text]
Performance Table Uses Highest Federal Rate
Performance Table Not Relevant to Tax Deferred
Performance Table One Class of after Tax Shown [Text]
Performance Table Explanation after Tax Higher
Performance Table Footnotes, Reason Performance Information for Class Different from Immediately Preceding Period [Text]
Caption
Column
Money Market Seven Day Yield, Caption [Text]
Money Market Seven Day Yield Column [Text]
Money Market Seven Day Yield Phone
Money Market Seven Day Yield
Money Market Seven Day Tax Equivalent Yield
Thirty Day Yield Caption
Thirty Day Yield Column [Text]
Thirty Day Yield Phone
Thirty Day Yield
Thirty Day Tax Equivalent Yield
C000092938Member
C000092939Member
C000092941Member
C000092937Member
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Expense Example, No Redemption, 1 Year
Expense Example, No Redemption, 3 Years
Expense Example, No Redemption, 5 Years
Expense Example, No Redemption, 10 Years
EX-101.PRE
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