First Trust Advisors L.P. has launched and managed the First Trust Senior Floating Rate Income Fund II, a closed-ended fixed income mutual fund that focuses on the fixed income markets of the United States. With the objective of investing in a portfolio of senior secured floating rate corporate loans, the fund benchmarks its portfolio performance against the sought-after S&P/LSTA Leveraged Loan Index. Previously named First Trust/Four Corners Senior Floating Rate Income Fund II, the fund was formed on May 25, 2004, and is domiciled in the United States.