-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 RenpfOmKbvFQvD2CQnc0O5kSbXM+QttpU2Q4Zl7hsxSFzu9+0kyKPV+ouE7XBIyy
 fo4ZlzQZLREcrdLFwrJ5UQ==

<SEC-DOCUMENT>0000875626-04-001853.txt : 20040825
<SEC-HEADER>0000875626-04-001853.hdr.sgml : 20040825
<ACCEPTANCE-DATETIME>20040825155638
ACCESSION NUMBER:		0000875626-04-001853
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040825
FILED AS OF DATE:		20040825
DATE AS OF CHANGE:		20040825

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WALBRANDT CHARLES D
		CENTRAL INDEX KEY:			0001294629

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21586
		FILM NUMBER:		04996508

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		314-863-4488

	MAIL ADDRESS:	
		STREET 1:		FIDUCIARY ASSET MANAGEMENT LLC
		STREET 2:		8112 MARYLAND AVE, SUITE 200
		CITY:			ST. LOUIS
		STATE:			MO
		ZIP:			63105

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			First Trust/Fiduciary Asset Management Covered Call Fund
		CENTRAL INDEX KEY:			0001291334
		IRS NUMBER:				000000000

	BUSINESS ADDRESS:	
		STREET 1:		C/O FIRST TRUST PORTFOLIOS L.P.
		STREET 2:		1001 WARRENVILLE ROAD, SUITE 300
		CITY:			LISLE
		STATE:			IL
		ZIP:			60532
		BUSINESS PHONE:		630-241-4141

	MAIL ADDRESS:	
		STREET 1:		C/O FIRST TRUST PORTFOLIOS L.P.
		STREET 2:		1001 WARRENVILLE ROAD, SUITE 300
		CITY:			LISLE
		STATE:			IL
		ZIP:			60532

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	First Trust/Fiduciary Asset Management Covered Call Income Fund
		DATE OF NAME CHANGE:	20040521
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>walbrandt_3ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2004-08-25</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001291334</issuerCik>
        <issuerName>First Trust/Fiduciary Asset Management Covered Call Fund</issuerName>
        <issuerTradingSymbol>FFA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001294629</rptOwnerCik>
            <rptOwnerName>WALBRANDT CHARLES D</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>FIDUCIARY ASSET MANAGEMENT</rptOwnerStreet1>
            <rptOwnerStreet2>8112 MARYLAND AVENUE</rptOwnerStreet2>
            <rptOwnerCity>ST. LOUIS</rptOwnerCity>
            <rptOwnerState>MO</rptOwnerState>
            <rptOwnerZipCode>63105</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Officer of the Sub-Adviser</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Shares</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <ownerSignature>
        <signatureName>/s/ Charles D. Walbrandt</signatureName>
        <signatureDate>2004-08-25</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----