N-Q 1 fdeu_nq.htm QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-23072

First Trust Dynamic Europe Equity IncomeFund
(Exact name of registrant as specified in charter)

120 East Liberty Drive, Suite 400
Wheaton, IL 60187
(Address of principal executive offices) (Zip code)

 

W. Scott Jardine, Esq.
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
(Name and address of agent for service)

 

registrant's telephone number, including area code: 630-765-8000

Date of fiscal year end: December 31

Date of reporting period: September 30, 2018

 

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 
 

Item 1. Schedule of Investments.

The Schedule(s) of Investments is attached herewith.

First Trust Dynamic Europe Equity Income Fund (FDEU)
Portfolio of Investments
September 30, 2018 (Unaudited)
Shares   Description   Value
COMMON STOCKS (a) – 117.4%
    Aerospace & Defense – 3.6%    
1,283,816  
BAE Systems PLC

  $10,538,606
    Air Freight & Logistics – 2.5%    
201,130  
bpost S.A.

  3,264,637
119,414  
Deutsche Post AG

  4,257,807
        7,522,444
    Banks – 16.4%    
276,117  
ABN AMRO Group N.V. (b)

  7,517,733
115,284  
BAWAG Group AG (b)

  5,354,019
656,323  
ING Groep N.V.

  8,522,474
3,690,154  
Lloyds Banking Group PLC

  2,850,737
712,599  
Nordea Bank AB

  7,766,314
115,560  
Societe Generale S.A.

  4,960,300
645,806  
Standard Chartered PLC

  5,356,856
240,656  
Swedbank AB, Class A

  5,965,357
        48,293,790
    Beverages – 3.0%    
246,604  
Diageo PLC

  8,739,509
    Building Products – 1.9%    
129,931  
Cie de Saint-Gobain

  5,603,560
    Capital Markets – 2.5%    
276,474  
Credit Suisse Group AG

  4,155,280
453,031  
Natixis S.A.

  3,073,895
        7,229,175
    Chemicals – 2.8%    
93,084  
BASF SE

  8,273,155
    Commercial Services & Supplies – 2.7%    
478,056  
Babcock International Group PLC

  4,505,000
1,541,149  
Prosegur Cash S.A. (b)

  3,378,295
        7,883,295
    Diversified Financial Services – 1.0%    
495,786  
Banca Farmafactoring S.p.A (b)

  2,970,263
    Diversified Telecommunication Services – 6.5%    
2,109,817  
BT Group PLC

  6,195,605
474,871  
Deutsche Telekom AG

  7,655,480
328,469  
Orange S.A.

  5,238,102
        19,089,187
    Electric Utilities – 6.9%    
1,660,424  
Enel S.p.A.

  8,505,609
454,746  
SSE PLC

  6,792,525
925,893  
Terna Rete Elettrica Nazionale S.p.A

  4,946,112
        20,244,246
    Electrical Equipment – 3.3%    
226,140  
ABB Ltd.

  5,343,577
55,058  
Schneider Electric SE

  4,430,009
        9,773,586
    Energy Equipment & Services – 0.9%    
165,614  
Tenaris S.A.

  2,774,689
See Notes to Portfolio of Investments

First Trust Dynamic Europe Equity Income Fund (FDEU)
Portfolio of Investments (Continued)
September 30, 2018 (Unaudited)
Shares   Description   Value
COMMON STOCKS (a) (Continued)
    Food Products – 3.9%    
138,070  
Marine Harvest ASA

  $3,198,661
98,780  
Nestle S.A.

  8,235,357
        11,434,018
    Industrial Conglomerates – 3.3%    
75,337  
Siemens AG

  9,651,442
    Insurance – 7.2%    
23,677  
Hannover Rueck SE

  3,345,555
808,431  
Phoenix Group Holdings

  7,123,073
274,194  
Prudential PLC

  6,288,179
95,114  
SCOR SE

  4,417,284
        21,174,091
    Media – 1.1%    
435,112  
Mediaset Espana Comunicacion S.A.

  3,177,625
    Metals & Mining – 5.4%    
423,606  
BHP Billiton PLC

  9,227,164
131,092  
Rio Tinto PLC

  6,629,574
        15,856,738
    Multi-Utilities – 2.5%    
702,312  
National Grid PLC

  7,244,424
    Oil, Gas & Consumable Fuels – 14.2%    
816,674  
BP PLC

  6,272,821
470,439  
Eni S.p.A.

  8,893,280
180,482  
Royal Dutch Shell PLC, Class A

  6,197,400
1,814,021  
Snam S.p.A.

  7,559,041
199,174  
TOTAL S.A.

  12,913,054
        41,835,596
    Paper & Forest Products – 1.4%    
106,975  
UPM-Kymmene OYJ

  4,198,072
    Personal Products – 1.7%    
89,254  
Unilever N.V.

  4,970,534
    Pharmaceuticals – 5.6%    
80,561  
Novartis AG

  6,928,213
39,709  
Roche Holding AG

  9,619,742
        16,547,955
    Professional Services – 4.6%    
126,898  
Adecco Group AG

  6,664,279
334,377  
RELX PLC

  7,024,993
        13,689,272
    Real Estate Management & Development – 1.4%    
76,208  
Nexity S.A.

  4,209,940
    Semiconductors & Semiconductor Equipment – 1.0%    
7,349  
ASML Holding N.V.

  1,372,888
70,503  
BE Semiconductor Industries N.V.

  1,487,351
        2,860,239
    Software – 1.6%    
608,340  
Sage Group (The) PLC

  4,649,626
See Notes to Portfolio of Investments

First Trust Dynamic Europe Equity Income Fund (FDEU)
Portfolio of Investments (Continued)
September 30, 2018 (Unaudited)
Shares   Description   Value
COMMON STOCKS (a) (Continued)
    Textiles, Apparel & Luxury Goods – 1.3%    
61,883  
Pandora A.S.

  $3,864,496
    Tobacco – 5.3%    
123,080  
British American Tobacco PLC

  5,750,343
281,600  
Imperial Brands PLC

  9,803,570
        15,553,913
    Wireless Telecommunication Services – 1.9%    
2,564,852  
Vodafone Group PLC

  5,499,281
   
Total Common Stocks

  345,352,767
    (Cost $355,752,217)    
REAL ESTATE INVESTMENT TRUSTS (a) – 4.6%
    Equity Real Estate Investment Trusts – 4.6%    
1,035,035  
British Land (The) Co., PLC

  8,321,030
142,658  
Eurocommercial Properties N.V.

  5,224,067
   
Total Real Estate Investment Trusts

  13,545,097
    (Cost $17,238,214)    
   
Total Investments – 122.0%

  358,897,864
    (Cost $372,990,431) (c)    
    
Number of Contracts   Description   Notional Amount   Exercise Price
(Euro)
  Expiration Date   Value
CALL OPTIONS WRITTEN – (0.5)%
596  
EURO STOXX 50 Index

  $23,521,991   3,400.00   Oct 2018   (285,790)
579  
EURO STOXX 50 Index

  22,851,062   3,475.00   Oct 2018   (66,576)
618  
EURO STOXX 50 Index

  24,390,252   3,425.00   Nov 2018   (355,497)
585  
EURO STOXX 50 Index

  23,087,860   3,450.00   Nov 2018   (247,913)
585  
EURO STOXX 50 Index

  23,087,860   3,450.00   Dec 2018   (377,643)
   
Total Call Options Written

  (1,333,419)
    (Premiums received $1,951,830)                
    
 
Outstanding Loan – (30.2)%

 (88,820,324)
 
Net Other Assets and Liabilities – 8.7%

 25,346,678
 
Net Assets – 100.0%

 $294,090,799
    
Forward Foreign Currency Contracts
Settlement
Date
  Counterparty   Amount
Purchased
  Amount
Sold
  Purchase
Value as of
9/30/2018
  Sale
Value as of
9/30/2018
  Unrealized
Appreciation/
(Depreciation)
12/05/18   BNS   USD 24,053,659   EUR 20,538,934   $ 24,053,659   $ 23,972,741   $  80,918
12/05/18   BNS   USD 17,857,701   GBP 13,720,704    17,857,701    17,936,920    (79,219)
Net Unrealized Appreciation (Depreciation)

  $1,699
    
Counterparty Abbreviations
BNS Bank of Nova Scotia
See Note 2C – Forward Foreign Currency Contracts in the Notes to Portfolio of Investments.

(a) All or a portion of these securities are available to serve as collateral for the outstanding loan and call options written.
(b) This security is restricted in the U.S. and cannot be offered for public sale without first being registered under the Securities Act of 1933, as amended. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities.
See Notes to Portfolio of Investments

First Trust Dynamic Europe Equity Income Fund (FDEU)
Portfolio of Investments (Continued)
September 30, 2018 (Unaudited)
(c) Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of September 30, 2018, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $21,847,337 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $35,319,794. The net unrealized depreciation was $13,472,457. The amounts presented are inclusive of derivative contracts.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of September 30, 2018 is as follows (see Note 2A - Portfolio Valuation in the Notes to Portfolio of Investments):
ASSETS TABLE
  Total
Value at
9/30/2018
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*

$345,352,767 $345,352,767 $$
Real Estate Investment Trusts*

13,545,097 13,545,097
Total Investments

358,897,864 358,897,864
Forward Foreign Currency Contracts

80,918 80,918
Total

$358,978,782 $358,897,864 $80,918 $

 

LIABILITIES TABLE

  Total
Value at
9/30/2018
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Call Options Written

$(1,333,419) $$(1,333,419) $
Forward Foreign Currency Contracts

(79,219) (79,219)
Total

$(1,412,638) $$(1,412,638) $
    
* See Portfolio of Investments for industry breakout.
Currency Exposure
Diversification
% of Total
Investments(1)
EUR 42.2%
GBP 28.9
USD 11.7
CHF 11.4
SEK 3.8
DKK 1.1
NOK 0.9
Total 100.0%
    
(1) The weightings include the impact of currency forwards.
    
Currency Abbreviations
CHF Swiss Franc
DKK Danish Krone
EUR Euro
USD United States Dollar
GBP British Pound Sterling
NOK Norwegian Krone
SEK Swedish Krona
Country Allocation(2) % of Total
Investments
United Kingdom 35.6%
France 12.5
Switzerland 11.4
Germany 9.2
Italy 9.2
Netherlands 8.1
Sweden 3.8
Cayman Islands 2.0
Spain 1.8
Austria 1.5
Finland 1.2
Denmark 1.1
Belgium 0.9
Norway 0.9
Luxembourg 0.8
Total 100.0%
(2) Portfolio securities are categorized based upon their country of incorporation.
 
See Notes to Portfolio of Investments

Notes to Portfolio of Investments
First Trust Dynamic Europe Equity Income Fund (FDEU)
September 30, 2018 (Unaudited)
1. Organization
First Trust Dynamic Europe Equity Income Fund (the “Fund”) is a non-diversified, closed-end management investment company organized as a Massachusetts business trust on May 11, 2015, and is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund trades under the ticker symbol FDEU on the New York Stock Exchange (“NYSE”).
The Fund is considered an investment company and follows accounting and reporting guidance under Financial Accounting Standards Board Accounting Standards Codification Topic 946, “Financial Services-Investment Companies.”
2. Valuation and Investment Practices
A. Portfolio Valuation
The net asset value (“NAV”) of the Common Shares of the Fund is determined daily as of the close of regular trading on the NYSE, normally 4:00 p.m. Eastern time, on each day the NYSE is open for trading. If the NYSE closes early on a valuation day, the NAV is determined as of that time. Domestic debt securities and foreign securities are priced using data reflecting the earlier closing of the principal markets for those securities. The Fund’s NAV per Common Share is calculated by dividing the value of all assets of the Fund (including accrued interest and dividends), less all liabilities (including accrued expenses, the value of call options written (sold), dividends declared but unpaid, and any borrowings of the Fund) by the total number of Common Shares outstanding.
The Fund’s investments are valued daily at market value or, in the absence of market value with respect to any portfolio securities, at fair value. Market value prices represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. Fair value prices represent any prices not considered market value prices and are either obtained from a third-party pricing service or are determined by the Pricing Committee of the Fund’s investment advisor, First Trust Advisors L.P. (“First Trust” or the “Advisor”), in accordance with valuation procedures adopted by the Fund’s Board of Trustees, and in accordance with provisions of the 1940 Act. Investments valued by the Advisor’s Pricing Committee, if any, are footnoted as such in the footnotes to the Portfolio of Investments. The Fund’s investments are valued as follows:
Common stocks, real estate investment trusts, and other equity securities listed on any national or foreign exchange (excluding The Nasdaq Stock Market LLC (“Nasdaq”) and the London Stock Exchange Alternative Investment Market (“AIM”)) are valued at the last sale price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price. Securities traded on more than one securities exchange are valued at the last sale price or official closing price, as applicable, at the close of the securities exchange representing the principal market for such securities.
Securities traded in an over-the-counter market are fair valued at the mean of their most recent bid and asked price, if available, and otherwise at their closing bid price.
Over-the-counter options contracts are fair valued at the closing price in the market of the underlying contracts where such contracts are principally traded.
Forward foreign currency contracts are valued at the current day’s interpolated foreign exchange rate, as calculated using the current day’s spot rate, and the thirty, sixty, ninety, and one-hundred eighty day forward rates provided by a third-party pricing service.
Certain securities may not be able to be priced by pre-established pricing methods. Such securities may be valued by the Fund’s Board of Trustees or its delegate, the Advisor’s Pricing Committee, at fair value. These securities generally include, but are not limited to, restricted securities (securities which may not be publicly sold without registration under the Securities Act of 1933, as amended) for which a third-party pricing service is unable to provide a market price; securities whose trading has been formally suspended; a security whose market or fair value price is not available from a pre-established pricing source; a security with respect to which an event has occurred that is likely to materially affect the value of the security after the market has closed but before the calculation of the Fund’s NAV or make it difficult or impossible to obtain a reliable market quotation; and a security whose price, as provided by the third-party pricing service, does not reflect the security’s fair value. As a general principle, the current fair value of a security would appear to be the amount which the owner might reasonably expect to receive for the security upon its current sale. When fair value prices are used, generally they will differ from market quotations or official closing prices on the applicable exchanges. A variety of factors may be considered in determining the fair value of such securities, including, but not limited to, the following:
1) the type of security;
2) the size of the holding;
3) the initial cost of the security;

Notes to Portfolio of Investments (Continued)
First Trust Dynamic Europe Equity Income Fund (FDEU)
September 30, 2018 (Unaudited)
4) transactions in comparable securities;
5) price quotes from dealers and/or third-party pricing services;
6) relationships among various securities;
7) information obtained by contacting the issuer, analysts, or the appropriate stock exchange;
8) an analysis of the issuer’s financial statements; and
9) the existence of merger proposals or tender offers that might affect the value of the security.
If the securities in question are foreign securities, the following additional information may be considered:
1) the value of similar foreign securities traded on other foreign markets;
2) ADR trading of similar securities;
3) closed-end fund trading of similar securities;
4) foreign currency exchange activity;
5) the trading prices of financial products that are tied to baskets of foreign securities;
6) factors relating to the event that precipitated the pricing problem;
7) whether the event is likely to recur; and
8) whether the effects of the event are isolated or whether they affect entire markets, countries or regions.
Because foreign markets may be open on different days than the days during which investors may transact in the shares of the Fund, the value of the Fund’s securities may change on the days when investors are not able to transact in the shares of the Fund. The value of securities denominated in foreign currencies is converted into U.S. dollars using exchange rates determined daily as of the close of regular trading on the NYSE.
The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:
Level 1 – Level 1 inputs are quoted prices in active markets for identical investments. An active market is a market in which transactions for the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
Level 2 – Level 2 inputs are observable inputs, either directly or indirectly, and include the following:
o Quoted prices for similar investments in active markets.
o Quoted prices for identical or similar investments in markets that are non-active. A non-active market is a market where there are few transactions for the investment, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly.
o Inputs other than quoted prices that are observable for the investment (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates).
o Inputs that are derived principally from or corroborated by observable market data by correlation or other means.
Level 3 – Level 3 inputs are unobservable inputs. Unobservable inputs may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment.
The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments. A summary of the inputs used to value the Fund’s investments as of September 30, 2018, is included with the Fund’s Portfolio of Investments.
B. Securities Transactions
Securities transactions are recorded as of the trade date. Realized gains and losses from securities transactions are recorded on the identified cost basis.
C. Forward Foreign Currency Contracts
The Fund is subject to foreign currency risk in the normal course of pursuing its investment objective. Forward foreign currency contracts are agreements between two parties (“Counterparties”) to exchange one currency for another at a future date and at a specified price. The Fund uses forward foreign currency contracts to facilitate transactions in foreign securities and to manage the Fund’s foreign currency exposure. These contracts are valued daily, and the Fund’s net equity therein, representing unrealized gain or loss on the contracts as measured by the difference between the forward foreign exchange rates at the dates of entry into the contracts

Notes to Portfolio of Investments (Continued)
First Trust Dynamic Europe Equity Income Fund (FDEU)
September 30, 2018 (Unaudited)
and the forward rates at the reporting date, is included on the Forward Foreign Currency Contracts table in the Portfolio of Investments. Risks arise from the possible inability of Counterparties to meet the terms of their contracts and from movement in currency, securities values and interest rates. Due to the risks, the Fund could incur losses in excess of the net unrealized value shown on the Forward Foreign Currency Contracts table in the Portfolio of Investments. In the event of default by the Counterparty, the Fund will provide notice to the Counterparty of the Fund’s intent to convert the currency held by the Fund into the currency that the Counterparty agreed to exchange with the Fund. If a Counterparty becomes bankrupt or otherwise fails to perform its obligations due to financial difficulties, the Fund may experience significant delays in obtaining any recovery in a bankruptcy or other reorganization proceeding. The Fund may obtain only limited recovery or may obtain no recovery in such circumstances.
D. Foreign Currency
The books and records of the Fund are maintained in U.S. dollars. Foreign currencies, investments and other assets and liabilities are translated into U.S. dollars at the exchange rates prevailing at the end of the period. Purchases and sales of investments and items of income and expense are translated on the respective dates of such transactions. Net realized foreign currency gains and losses include the effect of changes in exchange rates between trade date and settlement date on investment security transactions, foreign currency transactions and interest and dividends received.
E. Option Contracts
The Fund is subject to equity price risk in the normal course of pursuing its investment objective and may write (sell) options to hedge against changes in the value of equities. Also, the Fund seeks to generate additional income, in the form of premiums received, from writing (selling) the options. The Fund may write (sell) covered call options (“options”) on a portion of the equity securities held in the Fund’s portfolio and on certain broad-based securities indices as determined to be appropriate by the Advisor, and consistent with the Fund’s investment objective in an amount up to 40% of the value of its Managed Assets. Options on securities indices are designed to reflect price fluctuations in a group of securities or segment of the securities market rather than price fluctuations in a single security and are similar to options on single securities, except that the exercise of securities index options requires cash settlement payments and does not involve the actual purchase or sale of securities. The Fund will not write (sell) “naked” or uncovered call options. If certain equity securities held in the Fund’s portfolio are not covered by a related call option on the individual equity security, securities index options may be written on all or a portion of such uncovered securities. Options are marked-to-market daily and their value will be affected by changes in the value and dividend rates of the underlying equity securities, changes in interest rates, changes in the actual or perceived volatility of the securities markets and the underlying equity securities and the remaining time to the options’ expiration. The value of options may also be adversely affected if the market for the options becomes less liquid or trading volume diminishes.
The options the Fund writes (sells) will either be exercised, expire or be canceled pursuant to a closing transaction. If an index option written (sold) by the Fund is exercised, the Fund will be obligated to deliver cash equal to the difference between the closing price of the stock index and the exercise price of the option times a specified multiple. If the price of the index is less than the option’s strike price, the index option will likely expire without being exercised. The Fund may also elect to close out its position in an option prior to its expiration by purchasing an option of the same series as the option written (sold) by the Fund.
The index options that the Fund writes (sells) give the option holder the right to any appreciation in the value of the index over the exercise price of the option on or before the expiration date. Because the exercise of index options is settled in cash, sellers of index call options, such as the Fund, cannot provide in advance for their potential settlement obligations by acquiring and holding the underlying securities. The Fund will lose money if it is required to pay the purchaser of an index option the difference between the cash value of the index on which the option was written and the exercise price, and such difference is greater than the premium received by the Fund for writing the option. Net index option premiums can vary widely over the short-term and long-term.
Over-the-counter options have the risk of the potential inability of counterparties to meet the terms of their contracts. The Fund’s maximum equity price risk for purchased options is limited to the premium initially paid. In addition, certain risks may arise upon entering into option contracts including the risk that an illiquid secondary market will limit the Fund’s ability to close out an option contract prior to the expiration date and that a change in the value of the option contract may not correlate exactly with changes in the value of the securities hedged.
3. Derivative Transactions
During the fiscal year-to-date period (January 1, 2018 through September 30, 2018), the notional values of forward foreign currency contracts opened and closed were $125,173,736 and $120,037,220, respectively.
During the fiscal year-to-date period (January 1, 2018 through September 30, 2018), the premiums for written options opened were $5,896,340, and the premiums for written options closed, exercised and expired were $5,851,844.

 

Item 2. Controls and Procedures.

(a)The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).

 

(b)There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

  

Item 3. Exhibits.

Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

 

 

SIGNATURES

 



Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant)

First Trust Dynamic Europe Equity IncomeFund

   

 

By (Signature and Title)* /s/ James M. Dykas    
  James M. Dykas, President and Chief Executive Officer
(principal executive officer)
   

Date:November 28, 2018

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By (Signature and Title)* /s/ James M. Dykas    
  James M. Dykas, President and Chief Executive Officer
(principal executive officer)
   
Date:November 28, 2018

 

By (Signature and Title)* /s/ Donald P. Swade    
  Donald P. Swade, Treasurer, Chief Financial Officer
and Chief Accounting Officer
(principal financial officer)
   
Date:November 28, 2018

* Print the name and title of each signing officer under his or her signature.