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 811-21905
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First Trust/Aberdeen Emerging Opportunity Fund
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(Exact name of registrant as specified in charter)
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
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(Address of principal executive offices)
W. Scott Jardine, Esq.
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
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(Name and address of agent for service)
Registrant's telephone number, including area code: (630) 765-8000
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Date of fiscal year end: December 31
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Date of reporting period: September 30, 2017
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Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (ss.ss. 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. ss. 3507.
ITEM 1. SCHEDULE OF INVESTMENTS. The Schedule(s) of Investments is attached
herewith.
FIRST TRUST/ABERDEEN EMERGING OPPORTUNITY FUND (FEO)
PORTFOLIO OF INVESTMENTS (a)
SEPTEMBER 30, 2017 (UNAUDITED)
SHARES DESCRIPTION VALUE
--------------- -------------------------------------------------------------------- --------------
COMMON STOCKS - 45.4%
BRAZIL - 6.0%
97,350 Ambev S.A........................................................... $ 646,715
112,261 Banco Bradesco S.A., ADR............................................ 1,242,729
34,877 BRF S.A. (b)........................................................ 504,355
78,401 Lojas Renner S.A.................................................... 891,160
24,054 Multiplan Empreendimentos Imobiliarios S.A., Preference Shares...... 558,752
38,367 Ultrapar Participacoes S.A.......................................... 915,822
77,953 Vale S.A., ADR...................................................... 784,987
--------------
5,544,520
--------------
CHILE - 1.1%
17,459 Banco Santander Chile S.A., ADR..................................... 518,707
50,382 SACI Falabella...................................................... 491,336
--------------
1,010,043
--------------
CHINA - 4.7%
119,500 Anhui Conch Cement Co., Ltd., Class H............................... 476,525
414,000 Beijing Capital International Airport Co., Ltd., Class H............ 616,898
124,000 China Mobile Ltd.................................................... 1,256,414
238,000 China Resources Land Ltd............................................ 728,173
10,000 Tencent Holdings Ltd................................................ 430,386
21,200 YUM China Holdings, Inc............................................. 847,364
--------------
4,355,760
--------------
HONG KONG - 3.5%
199,400 AIA Group Ltd....................................................... 1,470,306
230,000 Hang Lung Group Ltd................................................. 825,887
20,299 Hong Kong Exchanges & Clearing Ltd.................................. 545,700
152,000 Swire Pacific Ltd., B Shares........................................ 263,464
46,000 Swire Properties Ltd................................................ 156,050
--------------
3,261,407
--------------
HUNGARY - 0.5%
19,000 Richter Gedeon Nyrt................................................. 471,888
--------------
INDIA - 6.8%
71,414 Aditya Birla Capital Ltd. (b)....................................... 200,893
51,010 Grasim Industries Ltd............................................... 885,529
10,537 Hero MotoCorp Ltd................................................... 608,886
42,000 Hindustan Unilever Ltd.............................................. 754,804
62,300 Housing Development Finance Corp., Ltd.............................. 1,661,604
226,259 ITC Ltd............................................................. 894,714
27,500 Kotak Mahindra Bank Ltd............................................. 421,951
13,902 Tata Consultancy Services Ltd....................................... 518,441
5,428 UltraTech Cement Ltd................................................ 320,279
--------------
6,267,101
--------------
INDONESIA - 2.4%
1,902,700 Astra International Tbk PT.......................................... 1,115,994
403,000 Bank Central Asia Tbk PT............................................ 607,387
See Notes to Portfolio of Investments
FIRST TRUST/ABERDEEN EMERGING OPPORTUNITY FUND (FEO)
PORTFOLIO OF INVESTMENTS (a) (CONTINUED)
SEPTEMBER 30, 2017 (UNAUDITED)
SHARES DESCRIPTION VALUE
--------------- -------------------------------------------------------------------- --------------
COMMON STOCKS (CONTINUED)
INDONESIA (CONTINUED)
375,400 Indocement Tunggal Prakarsa Tbk PT.................................. $ 526,770
--------------
2,250,151
--------------
ITALY - 0.3%
10,930 Tenaris S.A., ADR................................................... 309,428
--------------
MALAYSIA - 0.6%
105,000 Public Bank Bhd..................................................... 508,277
--------------
MEXICO - 3.2%
12,300 Fomento Economico Mexicano, S.A.B. de C.V., ADR..................... 1,175,019
14,000 Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., ADR........... 621,460
164,600 Grupo Financiero Banorte, S.A.B. de C.V., O Shares.................. 1,133,218
--------------
2,929,697
--------------
PHILIPPINES - 1.8%
1,189,000 Ayala Land, Inc..................................................... 1,018,150
325,359 Bank of the Philippine Islands...................................... 636,954
--------------
1,655,104
--------------
POLAND - 0.4%
10,396 Bank Pekao S.A...................................................... 364,672
--------------
PORTUGAL - 0.5%
23,692 Jeronimo Martins SGPS S.A........................................... 467,344
--------------
RUSSIA - 1.6%
11,200 Lukoil PJSC, ADR.................................................... 593,936
5,096 Magnit PJSC......................................................... 894,190
--------------
1,488,126
--------------
SOUTH AFRICA - 1.7%
12,000 BHP Billiton PLC.................................................... 211,508
40,910 Massmart Holdings Ltd............................................... 337,100
59,100 MTN Group Ltd....................................................... 542,950
87,563 Truworths International Ltd......................................... 499,621
--------------
1,591,179
--------------
SOUTH KOREA - 3.6%
1,020 Amorepacific Corp. (Preference Shares).............................. 138,927
2,341 Amorepacific Group.................................................. 252,424
1,136 NAVER Corp.......................................................... 738,918
1,240 Samsung Electronics Co., Ltd. (Preference Shares)................... 2,232,401
--------------
3,362,670
--------------
TAIWAN - 2.3%
108,005 Taiwan Mobile Co., Ltd.............................................. 384,663
244,954 Taiwan Semiconductor Manufacturing Co., Ltd......................... 1,748,864
--------------
2,133,527
--------------
THAILAND - 2.0%
61,200 Siam Cement (The) PCL............................................... 921,211
See Notes to Portfolio of Investments
FIRST TRUST/ABERDEEN EMERGING OPPORTUNITY FUND (FEO)
PORTFOLIO OF INVESTMENTS (a) (CONTINUED)
SEPTEMBER 30, 2017 (UNAUDITED)
SHARES DESCRIPTION VALUE
--------------- -------------------------------------------------------------------- --------------
COMMON STOCKS (CONTINUED)
THAILAND (CONTINUED)
201,100 Siam Commercial Bank (The) PCL (c).................................. $ 922,588
--------------
1,843,799
--------------
TURKEY - 1.9%
179,135 Akbank TAS.......................................................... 472,605
32,444 BIM Birlesik Magazalar A.S.......................................... 676,116
43,150 Haci Omer Sabanci Holding A.S....................................... 121,349
165,000 Turkiye Garanti Bankasi A.S......................................... 448,280
--------------
1,718,350
--------------
UNITED KINGDOM - 0.5%
42,739 Standard Chartered PLC (b) ......................................... 424,716
--------------
TOTAL COMMON STOCKS................................................. 41,957,759
(Cost $30,452,466) --------------
PRINCIPAL
VALUE
(LOCAL STATED STATED VALUE
CURRENCY) DESCRIPTION COUPON MATURITY (US DOLLARS)
--------------- ---------------------------------------- ------------ ------------ --------------
FOREIGN SOVEREIGN BONDS AND NOTES - 45.0%
ARGENTINA - 2.9%
8,741,977 Argentina POM Politica Monetaria,
Argentine Central Bank 7 day repo
reference rate (ARS) (d) ............ 26.25% 06/21/20 535,198
14,569,524 Argentine Bonos del Tesoro (ARS) ....... 16.00% 10/17/23 889,700
426,000 Argentine Republic Government
International Bond (USD) ............ 5.63% 01/26/22 448,365
266,387 Argentine Republic Government
International Bond (USD) ............ 8.28% 12/31/33 301,684
464,000 Argentine Republic Government
International Bond (USD) ............ 7.13% 07/06/36 488,360
--------------
2,663,307
--------------
BAHRAIN - 0.6%
270,000 Bahrain Government International Bond
(USD) ............................... 7.00% 01/26/26 286,413
278,000 Bahrain Government International Bond
(USD) (e) ........................... 7.00% 10/12/28 284,112
--------------
570,525
--------------
BRAZIL - 4.2%
10,400,000 Brazil Notas do Tesouro Nacional,
Series F (BRL) ...................... 10.00% 01/01/25 3,379,385
1,560,000 Brazil Notas do Tesouro Nacional,
Series F (BRL) ...................... 10.00% 01/01/27 502,928
--------------
3,882,313
--------------
COSTA RICA - 0.3%
300,000 Costa Rica Government International
Bond (USD) .......................... 4.25% 01/26/23 298,875
--------------
See Notes to Portfolio of Investments
FIRST TRUST/ABERDEEN EMERGING OPPORTUNITY FUND (FEO)
PORTFOLIO OF INVESTMENTS (a) (CONTINUED)
SEPTEMBER 30, 2017 (UNAUDITED)
PRINCIPAL
VALUE
(LOCAL STATED STATED VALUE
CURRENCY) DESCRIPTION COUPON MATURITY (US DOLLARS)
--------------- ---------------------------------------- ------------ ------------ --------------
FOREIGN SOVEREIGN BONDS AND NOTES (CONTINUED)
DOMINICAN REPUBLIC - 1.2%
53,000,000 Dominican Republic Bond (DOP) (e) ...... 10.50% 04/07/23 $ 1,135,196
--------------
ECUADOR - 1.5%
230,000 Ecuador Government International Bond
(USD) (e) ........................... 8.75% 06/02/23 238,337
1,100,000 Ecuador Government International Bond
(USD) ............................... 9.65% 12/13/26 1,166,000
--------------
1,404,337
--------------
EGYPT - 1.7%
246,000 Egypt Government International Bond
(USD) (e) ........................... 6.13% 01/31/22 255,048
200,000 Egypt Government International Bond
(USD) (e) ........................... 8.50% 01/31/47 223,569
22,000,000 Egypt Treasury Bills (EGP) ............. (f) 05/29/18 1,123,658
--------------
1,602,275
--------------
EL SALVADOR - 0.6%
280,000 El Salvador Government International
Bond (USD) .......................... 5.88% 01/30/25 275,800
300,000 El Salvador Government International
Bond (USD) .......................... 7.65% 06/15/35 309,714
--------------
585,514
--------------
ETHIOPIA - 0.6%
540,000 Ethiopia International Bond (USD) (e)... 6.63% 12/11/24 556,170
--------------
GHANA - 0.9%
2,150,000 Ghana Government Bond (GHS) ............ 21.50% 03/09/20 525,708
300,000 Ghana Government International Bond
(USD) ............................... 8.13% 01/18/26 319,811
--------------
845,519
--------------
HONDURAS - 0.5%
410,000 Honduras Government International Bond
(USD) (e) ........................... 7.50% 03/15/24 468,425
--------------
HUNGARY - 1.4%
276,800,000 Hungary Government Bond (HUF) .......... 5.50% 06/24/25 1,291,439
--------------
INDONESIA - 1.9%
470,000 Indonesia Government International Bond
(USD) (e) ........................... 5.88% 01/15/24 540,600
14,700,000,000 Indonesia Treasury Bond (IDR) .......... 8.38% 03/15/34 1,204,082
--------------
1,744,682
--------------
IRAQ - 0.8%
200,000 Iraq International Bond (USD) (e) ...... 6.75% 03/09/23 199,300
610,000 Iraq International Bond (USD) .......... 5.80% 01/15/28 572,272
--------------
771,572
--------------
See Notes to Portfolio of Investments
FIRST TRUST/ABERDEEN EMERGING OPPORTUNITY FUND (FEO)
PORTFOLIO OF INVESTMENTS (a) (CONTINUED)
SEPTEMBER 30, 2017 (UNAUDITED)
PRINCIPAL
VALUE
(LOCAL STATED STATED VALUE
CURRENCY) DESCRIPTION COUPON MATURITY (US DOLLARS)
--------------- ---------------------------------------- ------------ ------------ --------------
FOREIGN SOVEREIGN BONDS AND NOTES (CONTINUED)
KENYA - 0.2%
200,000 Kenya Government International Bond
(USD) ............................... 6.88% 06/24/24 $ 205,022
--------------
LEBANON - 0.3%
300,000 Lebanon Government International Bond
(USD) ............................... 6.85% 03/23/27 299,524
--------------
MEXICO - 2.8%
41,200,000 Mexican Bonos (MXN) .................... 8.50% 11/18/38 2,579,061
--------------
MONGOLIA - 0.3%
290,000 Mongolia Government International Bond
(USD) ............................... 5.13% 12/05/22 282,368
--------------
NIGERIA - 0.3%
200,000 Nigeria Government International Bond
(USD) (e) ........................... 7.88% 02/16/32 219,162
--------------
PERU - 2.4%
6,320,000 Peruvian Government International Bond
(PEN) ............................... 6.90% 08/12/37 2,176,807
--------------
POLAND - 1.5%
4,800,000 Republic of Poland Government Bond
(PLN) ............................... 4.00% 10/25/23 1,394,026
--------------
RUSSIA - 5.1%
264,000,000 Russian Federal Bond - OFZ (RUB) ....... 7.05% 01/19/28 4,457,027
200,000 Russian Foreign Bond - Eurobond (USD)... 5.88% 09/16/43 229,002
--------------
4,686,029
--------------
RWANDA - 0.6%
200,000 Rwanda International Government Bond
(USD) (e) ........................... 6.63% 05/02/23 209,258
300,000 Rwanda International Government Bond
(USD) ............................... 6.63% 05/02/23 313,887
--------------
523,145
--------------
SENEGAL - 0.5%
380,000 Senegal Government International Bond
(USD) ............................... 8.75% 05/13/21 439,589
--------------
SOUTH AFRICA - 4.0%
14,400,000 Republic of South Africa Government
Bond (ZAR) .......................... 10.50% 12/21/26 1,194,651
31,500,000 Republic of South Africa Government
Bond (ZAR) .......................... 6.25% 03/31/36 1,681,823
820,000 Republic of South Africa Government
Internationl Bond (USD) ............. 4.88% 04/14/26 828,623
--------------
3,705,097
--------------
See Notes to Portfolio of Investments
FIRST TRUST/ABERDEEN EMERGING OPPORTUNITY FUND (FEO)
PORTFOLIO OF INVESTMENTS (a) (CONTINUED)
SEPTEMBER 30, 2017 (UNAUDITED)
PRINCIPAL
VALUE
(LOCAL STATED STATED VALUE
CURRENCY) DESCRIPTION COUPON MATURITY (US DOLLARS)
--------------- ---------------------------------------- ------------ ------------ --------------
FOREIGN SOVEREIGN BONDS AND NOTES (CONTINUED)
SRI LANKA - 0.7%
570,000 Sri Lanka Government International Bond
(USD) (e) ........................... 6.20% 05/11/27 $ 599,030
--------------
SURINAME - 0.3%
270,000 Republic of Suriname (USD) (e) ......... 9.25% 10/26/26 292,950
--------------
TANZANIA - 0.2%
166,668 Tanzania Government International Bond,
6 Mo. LIBOR + 6.00% (USD) (d) ....... 7.45% 03/09/20 174,696
--------------
TURKEY - 4.7%
339,000 Hazine Mustesarligi Varlik Kiralama AS
(USD) (e) ........................... 5.00% 04/06/23 349,194
1,750,000 Turkey Government Bond (TRY) ........... 6.30% 02/14/18 482,816
12,650,000 Turkey Government International Bond
(TRY) ............................... 10.40% 03/20/24 3,516,700
--------------
4,348,710
--------------
UKRAINE - 1.2%
115,000 Ukraine Government International Bond
(USD) (e) ........................... 7.75% 09/01/21 122,289
865,000 Ukraine Government International Bond
(USD) (e) ........................... 7.75% 09/01/24 905,006
188,000 Ukraine Government International Bond
(USD) (e) (i) ....................... (f) 05/31/40 102,114
--------------
1,129,409
--------------
URUGUAY - 0.4%
190,000 Uruguay Government International Bond
(USD) ............................... 4.38% 10/27/27 205,319
5,257,000 Uruguay Government International Bond
(UYU) (e) ........................... 9.88% 06/20/22 196,385
--------------
401,704
--------------
VENEZUELA - 0.4%
1,050,000 Venezuela Government International Bond
(USD) ............................... 9.25% 05/07/28 363,772
--------------
TOTAL FOREIGN SOVEREIGN BONDS AND NOTES............................. 41,640,250
(Cost $39,818,119) --------------
FOREIGN CORPORATE BONDS AND NOTES (g) - 14.3%
ARGENTINA - 0.2%
200,000 Genneia S.A. (USD) (e) ................. 8.75% 01/20/22 219,066
--------------
AZERBAIJAN - 0.6%
495,000 Southern Gas Corridor CJSC (USD) (e) ... 6.88% 03/24/26 558,536
--------------
BANGLADESH - 0.3%
250,000 Banglalink Digital Communications Ltd.
(USD) (e) ........................... 8.63% 05/06/19 262,150
--------------
See Notes to Portfolio of Investments
FIRST TRUST/ABERDEEN EMERGING OPPORTUNITY FUND (FEO)
PORTFOLIO OF INVESTMENTS (a) (CONTINUED)
SEPTEMBER 30, 2017 (UNAUDITED)
PRINCIPAL
VALUE
(LOCAL STATED STATED VALUE
CURRENCY) DESCRIPTION COUPON MATURITY (US DOLLARS)
--------------- ---------------------------------------- ------------ ------------ --------------
FOREIGN CORPORATE BONDS AND NOTES (g) (CONTINUED)
BARBADOS - 0.3%
250,000 Sagicor Finance 2015 Ltd. (USD) (e) .... 8.88% 08/11/22 $ 285,625
--------------
BRAZIL - 2.4%
350,000 OAS Finance Ltd. (USD) (h) (i) (j) (l).. 8.88% (k) 29,313
200,000 OAS Investments GmbH (USD) (h) (j) (l).. 8.25% 10/19/19 16,750
844,688 Petrobras Global Finance BV (e) ........ 5.30% 01/27/25 844,476
650,000 Petrobras Global Finance BV (USD) ...... 8.75% 05/23/26 782,437
206,088 QGOG Atlantic/Alaskan Rigs Ltd. (USD) .. 5.25% 07/30/18 202,997
300,000 Vale Overseas Ltd. (USD) ............... 6.88% 11/21/36 345,000
--------------
2,220,973
--------------
COLOMBIA - 0.2%
207,000 Banco GNB Sudameris S.A. (USD) (e) (i).. 6.50% 04/03/27 215,901
--------------
DOMINICAN REPUBLIC - 0.5%
460,000 AES Andres BV / Dominican Power
Partners / Empresa Generadora de
Electricidad Itabo (USD) (e) ........ 7.95% 05/11/26 500,020
--------------
EL SALVADOR - 0.4%
310,000 Grupo Unicomer Co., Ltd. (USD) (e) ..... 7.88% 04/01/24 338,985
--------------
GEORGIA - 1.5%
200,000 BGEO Group JSC (USD) (e)................ 6.00% 07/26/23 206,480
350,000 Georgian Oil and Gas Corp. JSC (USD)
(e) ................................. 6.75% 04/26/21 373,283
680,000 Georgian Railway JSC (USD) ............. 7.75% 07/11/22 758,173
--------------
1,337,936
--------------
GUATEMALA - 0.5%
400,000 Comcel Trust via Comunicaciones
Celulares S.A. (USD) (e) ............ 6.88% 02/06/24 428,224
--------------
HONDURAS - 0.3%
280,000 Inversiones Atlantida S.A. (USD) (e) ... 8.25% 07/28/22 288,915
--------------
HONG KONG - 0.3%
260,000 Shimao Property Holdings Ltd. (USD) .... 8.38% 02/10/22 287,017
--------------
INDIA - 0.3%
275,000 Vedanta Resources PLC (USD) (e) ........ 6.13% 08/09/24 279,591
--------------
KAZAKHSTAN - 0.8%
390,000 Nostrum Oil & Gas Finance BV (USD) (e).. 8.00% 07/25/22 407,928
308,000 Tengizchevroil Finance Co. International
Ltd. (USD) (e) ...................... 4.00% 08/15/26 306,077
--------------
714,005
--------------
See Notes to Portfolio of Investments
FIRST TRUST/ABERDEEN EMERGING OPPORTUNITY FUND (FEO)
PORTFOLIO OF INVESTMENTS (a) (CONTINUED)
SEPTEMBER 30, 2017 (UNAUDITED)
PRINCIPAL
VALUE
(LOCAL STATED STATED VALUE
CURRENCY) DESCRIPTION COUPON MATURITY (US DOLLARS)
--------------- ---------------------------------------- ------------ ------------ --------------
FOREIGN CORPORATE BONDS AND NOTES (g) (CONTINUED)
MEXICO - 1.2%
270,000 Alfa SAB de CV (USD) ................... 6.88% 03/25/44 $ 305,775
230,000 Cemex SAB de CV (USD) (e) .............. 7.75% 04/16/26 264,845
4,800,000 Petroleos Mexicanos (MXN) .............. 7.19% 09/12/24 241,582
270,000 Unifin Financiera SAB de CV SOFOM ENR
(USD) (e) ........................... 7.25% 09/27/23 282,150
--------------
1,094,352
--------------
NIGERIA - 1.2%
290,000 Access Bank PLC (USD) (e) .............. 10.50% 10/19/21 321,723
290,000 IHS Netherlands Holdco BV (USD) (e) .... 9.50% 10/27/21 304,599
270,000 United Bank for Africa PLC (USD) (e) ... 7.75% 06/08/22 269,464
200,000 Zenith Bank PLC (USD) (e) .............. 7.38% 05/30/22 207,127
--------------
1,102,913
--------------
PARAGUAY - 0.4%
350,000 Banco Regional SAECA (USD) (e) ......... 8.13% 01/24/19 371,437
--------------
RUSSIA - 1.3%
310,000 Credit Bank of Moscow Via CBOM
Finance PLC (i) ..................... 7.50% 10/05/27 273,105
394,000 Evraz Group S.A. (USD) (e) ............. 5.38% 03/20/23 405,623
200,000 GTH Finance BV (USD) (e) ............... 7.25% 04/26/23 227,277
237,000 Polyus Finance PLC (USD) (e) ........... 5.25% 02/07/23 248,164
--------------
1,154,169
--------------
TURKEY - 0.9%
280,000 Odea Bank AS (USD) (e) (i) ............. 7.63% 08/01/27 268,100
288,000 Turkiye Vakiflar Bankasi TAO (USD) ..... 6.00% 11/01/22 289,768
300,000 Yasar Holdings AS (USD) (e) ............ 8.88% 05/06/20 310,653
--------------
868,521
--------------
UKRAINE - 0.3%
280,000 Ukreximbank Via Biz Finance PLC (USD)... 9.63% 04/27/22 300,751
--------------
VENEZUELA - 0.4%
1,300,000 Petroleos de Venezuela S.A. (USD) ...... 6.00% 05/16/24 398,450
--------------
TOTAL FOREIGN CORPORATE BONDS AND NOTES............................. 13,227,537
(Cost $12,920,507) --------------
TOTAL INVESTMENTS - 104.7%.......................................... 96,825,546
(Cost $83,191,092) (m)
OUTSTANDING LOANS - (6.3%).......................................... (5,800,000)
NET OTHER ASSETS AND LIABILITIES - 1.6%............................. 1,492,392
--------------
NET ASSETS - 100.0%................................................. $ 92,517,938
==============
-----------------------------
See Notes to Portfolio of Investments
FIRST TRUST/ABERDEEN EMERGING OPPORTUNITY FUND (FEO)
PORTFOLIO OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2017 (UNAUDITED)
FORWARD FOREIGN CURRENCY CONTRACTS (See Note 2C - Forward Foreign Currency
Contracts in the Notes to Portfolio of Investments):
FORWARD FOREIGN CURRENCY CONTRACTS
--------------------------------------------------------
PURCHASE SALE UNREALIZED
SETTLEMENT AMOUNT AMOUNT VALUE AS OF VALUE AS OF APPRECIATION/
DATE COUNTERPARTY PURCHASED SOLD 9/30/2017 9/30/2017 (DEPRECIATION)
--------------- --------------- ------------------ ------------------ ---------------- -------------- --------------
10/13/2017 JPM USD 814,083 ZAR 11,063,000 $ 814,083 $ 815,220 $ (1,137)
10/13/2017 MS USD 725,681 ZAR 9,815,000 725,681 723,256 2,425
11/22/2017 BAR INR 32,218,000 USD 497,659 490,054 497,659 (7,605)
--------------
Net Unrealized Appreciation (Depreciation)................................................................ $ (6,317)
==============
Counterparty Abbreviations:
BAR Barclays Bank
JPM JPMorgan Chase
MS Morgan Stanley
(a) All of these securities are available to serve as collateral for the
outstanding loans.
(b) Non-income producing security.
(c) This security is fair valued by the Advisor's Pricing Committee in
accordance with procedures adopted by the Trust's Board of Trustees and in
accordance with provisions of the Investment Company Act of 1940, as
amended. At September 30, 2017, securities noted as such are valued at
$922,588 or 1.0% of net assets.
(d) Floating rate security.
(e) This security, sold within the terms of a private placement memorandum, is
exempt from registration under Rule 144A of the Securities Act of 1933, as
amended (the "1933 Act"), and may be resold in transactions exempt from
registration, normally to qualified institutional buyers. Pursuant to
procedures adopted by the Fund's Board of Trustees, this security has been
determined to be liquid by Aberdeen Asset Management Inc. (the
"Sub-Advisor"). At September 30, 2017, securities noted as such amounted
to $15,892,564 or 17.2% of net assets.
(f) Zero coupon bond.
(g) Portfolio securities are included in a country based upon their underlying
credit exposure as determined by the Sub-Advisor.
(h) This issuer is in default and interest is not being accrued by the Fund
nor paid by the issuer.
(i) Fixed-to-floating or fixed-to-variable rate security. At a predetermined
date, the fixed rate will change to a floating rate or a variable rate.
(j) This security, sold within the terms of a private placement memorandum, is
exempt from registration upon resale under Rule 144A of the Securities Act
of 1933, as amended (the "1933 Act"), and may be resold in transactions
exempt from registration normally to qualified institutional buyers. (See
Note 2E - Restricted Securities in the Notes to Portfolio of Investments.)
(k) Perpetual maturity.
(l) This issuer has filed for bankruptcy protection in a Sao Paulo state
court.
(m) Aggregate cost for financial reporting purposes, which approximates the
aggregate cost for federal income tax purposes. As of September 30, 2017,
the aggregate gross unrealized appreciation for all investments in which
there was an excess of value over tax cost was $17,824,740 and the
aggregate gross unrealized depreciation for all investments in which there
was an excess of tax cost over value was $4,196,603. The net unrealized
appreciation was $13,628,137. The amounts presented are inclusive of
derivative contracts.
ADR American Depositary Receipt
See Notes to Portfolio of Investments
FIRST TRUST/ABERDEEN EMERGING OPPORTUNITY FUND (FEO)
PORTFOLIO OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2017 (UNAUDITED)
-----------------------------
VALUATION INPUTS
A summary of the inputs used to value the Fund's investments as of September 30,
2017 is as follows (see Note 2A - Portfolio Valuation in the Notes to Portfolio
of Investments):
ASSETS TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
9/30/2017 PRICES INPUTS INPUTS
--------------- ------------- --------------- --------------
Common Stocks:
Thailand.................................. $ 1,843,799 $ 921,211 $ 922,588 $ --
Other Country Categories*................. 40,113,960 40,113,960 -- --
--------------- ------------- --------------- --------------
Total Common Stocks........................... 41,957,759 41,035,171 922,588 --
--------------- ------------- --------------- --------------
Foreign Sovereign Bonds and Notes*............ 41,640,250 -- 41,640,250 --
Foreign Corporate Bonds and Notes*............ 13,227,537 -- 13,227,537 --
--------------- ------------- --------------- --------------
Total Investments............................. 96,825,546 41,035,171 55,790,375 --
--------------- ------------- --------------- --------------
Forward Foreign Currency Contracts**.......... 2,425 -- 2,425 --
--------------- ------------- --------------- --------------
Total......................................... 96,827,971 41,035,171 55,792,800 --
=============== ============= =============== ==============
LIABILITIES TABLE
LEVEL 2 LEVEL 3
TOTAL LEVEL 1 SIGNIFICANT SIGNIFICANT
VALUE AT QUOTED OBSERVABLE UNOBSERVABLE
9/30/2017 PRICES INPUTS INPUTS
--------------- ------------- --------------- --------------
Forward Foreign Currency Contracts**.......... $ (8,742) $ -- $ (8,742) $ --
=============== ============= =============== ==============
* See Portfolio of Investments for country breakout.
** See the Forward Foreign Currency Contracts table for contract and currency
detail.
All transfers in and out of the Levels during the period are assumed to occur on
the last day of the period at their current value. There were no transfers
between Levels at September 30, 2017.
--------------------------------------------------
% OF TOTAL
FIXED INCOME
CREDIT QUALITY(1) INVESTMENTS
--------------------------------------------------
A 7.7%
A- 4.0
BBB 1.6
BBB- 29.5
BB+ 5.0
BB 10.9
BB- 8.1
B+ 9.0
B 9.4
B- 7.8
CCC+ 1.1
CCC- 1.4
Not Rated 4.5
--------------------------------------------------
Total 100.0%
======
(1) The credit quality and ratings information presented reflects the ratings
assigned by one or more nationally recognized statistical rating
organization (NRSRO), including Standard & Poor's Ratings Group, a
division of the McGraw-Hill Companies, Inc., Moody's Investors Service,
Inc., Fitch Ratings or a comparably rated NRSRO. For situations in which a
security is rated by more than one NRSRO and the ratings are not
equivalent, the highest rating is used. The credit ratings shown relate to
the credit worthiness of the issuers of the underlying securities in the
Fund, and not to the Fund or its shares. Credit ratings are subject to
change.
See Notes to Portfolio of Investments
FIRST TRUST/ABERDEEN EMERGING OPPORTUNITY FUND (FEO)
PORTFOLIO OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2017 (UNAUDITED)
------------------------------------------------------------
% OF TOTAL
INDUSTRY CLASSIFICATION INVESTMENTS
------------------------------------------------------------
Sovereigns 43.0%
Banks 10.8
Real Estate Management & Development 3.7
Construction Materials 3.2
Wireless Telecommunications Services 3.2
Food & Staples Retailing 2.5
Integrated Oils 2.3
Metals & Mining 2.3
Technology Hardware, Storage & Peripherals 2.3
Beverages 1.9
Automobiles 1.8
Semiconductors 1.8
Thrifts & Mortgage Finance 1.7
Oil, Gas & Consumable Fuels 1.6
Insurance 1.5
Multiline Retail 1.4
Transportation Infrastructure 1.3
Internet Software & Services 1.2
Pipeline 1.0
Hotels, Restaurants & Leisure 0.9
Tobacco 0.9
Household Products 0.8
Railroad 0.8
Exploration & Production 0.7
Capital Markets 0.6
Food Products 0.5
IT Services 0.5
Pharmaceuticals 0.5
Specialty Retail 0.5
Utilities 0.5
Personal Products 0.4
Retail - Consumer Discretionary 0.4
Chemicals 0.3
Commercial Finance 0.3
Communications Equipment 0.3
Construction Materials Manufacturing 0.3
Diversified Financial Services 0.3
Energy Equipment & Services 0.3
Food & Beverage 0.3
Government Development Banks 0.3
Life Insurance 0.3
Real Estate 0.3
Oil & Gas Services & Equipment 0.2
Power Generation 0.2
Industrial Other 0.1
------------------------------------------------------------
Total 100.0%
======
See Notes to Portfolio of Investments
FIRST TRUST/ABERDEEN EMERGING OPPORTUNITY FUND (FEO)
PORTFOLIO OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2017 (UNAUDITED)
--------------------------------------------------
CURRENCY EXPOSURE % OF TOTAL
DIVERSIFICATION INVESTMENTS #
--------------------------------------------------
USD 34.6%
BRL 7.6
HKD 7.0
INR 7.0
TRY 5.9
RUB 5.5
MXN 4.1
IDR 3.6
KRW 3.5
ZAR 3.0
PEN 2.3
TWD 2.2
THB 1.9
HUF 1.8
PLN 1.8
PHP 1.7
ARS 1.5
DOP 1.2
EGP 1.2
CLP 0.5
EUR 0.5
GHS 0.5
MYR 0.5
GBP 0.4
UYU 0.2
--------------------------------------------------
Total 100.0%
======
# The weightings include the impact of currency forwards.
Currency Abbreviations
ARS Argentine Peso
BRL Brazilian Real
CLP Chilean Peso
DOP Dominican Peso
EGP Egyptian Pound
EUR Euro
GBP British Pound Sterling
GHS Ghanaian Cedi
HKD Hong Kong Dollar
HUF Hungarian Forint
IDR Indonesian Rupiah
INR Indian Rupee
KRW South Korean Won
MXN Mexican Peso
MYR Malaysian Ringgit
PEN Peruvian New Sol
PHP Philippines Peso
PLN Polish Zloty
RUB Russian Ruble
THB Thailand Baht
TRY Turkish Lira
TWD Taiwan New Dollar
USD United States Dollar
UYU Uruguayan Peso
ZAR South African Rand
See Notes to Portfolio of Investments
NOTES TO PORTFOLIO OF INVESTMENTS
FIRST TRUST/ABERDEEN EMERGING OPPORTUNITY FUND (FEO)
SEPTEMBER 30, 2017 (UNAUDITED)
1. ORGANIZATION
First Trust/Aberdeen Emerging Opportunity Fund (the "Fund") is a diversified,
closed-end management investment company organized as a Massachusetts business
trust on May 16, 2006 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 FEO 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 ("FASB")
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 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,
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 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.'s ("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:
Bonds, notes and other debt securities are valued on the basis of
valuations provided by dealers who make markets in such securities or by a
third-party pricing service approved by the Fund's Board of Trustees,
which may use the following valuation inputs when available:
1) benchmark yields;
2) reported trades;
3) broker/dealer quotes;
4) issuer spreads;
5) benchmark securities;
6) bids and offers; and
7) reference data including market research publications.
Fixed income and other debt securities having a remaining maturity of
sixty days or less when purchased are fair valued at cost adjusted for
amortization of premiums and accretion of discounts (amortized cost),
provided the Advisor's Pricing Committee has determined that the use of
amortized cost is an appropriate reflection of fair value given market and
issuer-specific conditions existing at the time of the determination.
Factors that may be considered in determining the appropriateness of the
use of amortized cost include, but are not limited to, the following:
1) the credit conditions in the relevant market and changes
thereto;
2) the liquidity conditions in the relevant market and changes
thereto;
3) the interest rate conditions in the relevant market and
changes thereto (such as significant changes in interest
rates);
4) issuer-specific conditions (such as significant credit
deterioration); and
5) any other market-based data the Advisor's Pricing Committee
considers relevant. In this regard, the Advisor's Pricing
Committee may use last-obtained market-based data to assist it
when valuing portfolio securities using amortized cost.
Common stocks and other 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.
NOTES TO PORTFOLIO OF INVESTMENTS (CONTINUED)
FIRST TRUST/ABERDEEN EMERGING OPPORTUNITY FUND (FEO)
SEPTEMBER 30, 2017 (UNAUDITED)
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, (the "1933 Act")) 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 a 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 fundamental business data relating to the issuer, or economic
data relating to the country of issue;
2) an evaluation of the forces which influence the market in which
these securities are purchased and sold;
3) the type, size and cost of the security;
4) the financial statements of the issuer, or the financial condition
of the country of issue;
5) the credit quality and cash flow of the issuer, or country of issue,
based on Aberdeen Asset Management Inc.'s ("Aberdeen" or the
"Sub-Advisor") or external analysis;
6) the information as to any transactions in or offers for the
security;
7) the price and extent of public trading in similar securities (or
equity securities) of the issuer/borrower, or comparable companies;
8) the coupon payments;
9) the quality, value and salability of collateral, if any, securing
the security;
10) the business prospects of the issuer, including any ability to
obtain money or resources from a parent or affiliate and an
assessment of the issuer's management (for corporate debt only);
11) the economic, political and social prospects/developments of the
country of issue and the assessment of the country's governmental
leaders/officials (for sovereign debt only);
12) the prospects for the issuer's industry, and multiples (of earnings
and/or cash flows) being paid for similar businesses in that
industry (for corporate debt only); and
13) other relevant factors.
Fair valuation of an equity security will be based on the consideration of all
available information, 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;
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 equity security in question is a foreign security, 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.
NOTES TO PORTFOLIO OF INVESTMENTS (CONTINUED)
FIRST TRUST/ABERDEEN EMERGING OPPORTUNITY FUND (FEO)
SEPTEMBER 30, 2017 (UNAUDITED)
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:
o 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.
o 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.
o 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, 2017, 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.
Securities purchased on a when-issued, delayed-delivery or forward purchase
commitment basis may have extended settlement periods. The value of the security
so purchased is subject to market fluctuations during this period. The Fund
maintains liquid assets with a current value at least equal to the amount of its
when-issued, delayed-delivery or forward purchase commitments until payment is
made. At September 30, 2017, the Fund had no when-issued, delayed-delivery or
forward purchase commitments.
C. FORWARD FOREIGN CURRENCY CONTRACTS
The Fund is subject to foreign currency risk in the normal course of pursuing
its investment objectives. 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 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 and 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
NOTES TO PORTFOLIO OF INVESTMENTS (CONTINUED)
FIRST TRUST/ABERDEEN EMERGING OPPORTUNITY FUND (FEO)
SEPTEMBER 30, 2017 (UNAUDITED)
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. RESTRICTED SECURITIES
The Fund invests in restricted securities, which are securities that may not be
offered for public sale without first being registered under the 1933 Act. Prior
to registration, restricted securities may only be resold in transactions exempt
from registration under Rule 144A under the 1933 Act, normally to qualified
institutional buyers. As of September 30, 2017, the Fund held restricted
securities as shown in the following table that Aberdeen has deemed illiquid
pursuant to procedures adopted by the Trust's Board of Trustees. Although market
instability can result in periods of increased overall market illiquidity,
liquidity for each security is determined based on security-specific factors and
assumptions, which require subjective judgment. The Fund does not have the right
to demand that such securities be registered. These securities are valued
according to the valuation procedures as stated in the Portfolio Valuation note
(Note 2A) and are not expressed as a discount to the carrying value of a
comparable unrestricted security. There are no unrestricted securities with the
same maturity date and yield for these issuers.
% OF
ACQUISITION CURRENT CARRYING NET
SECURITY DATE PAR AMOUNT PRICE COST VALUE ASSETS
--------------------------------------------- -------------- ------------- ------------- ------------- ------------ --------
OAS Finance Ltd, 8.88% 4/18/2013 350,000 $ 8.38 $ 350,000 $ 29,313 0.03%
OAS Investments GmbH, 8.25%, 10/19/19 10/15/2012 200,000 8.38 200,000 16,750 0.02
------------- ------------ --------
$ 550,000 $ 46,063 0.05%
------------- ------------ --------
3. DERIVATIVES TRANSACTIONS
For the fiscal year-to-date period (January 1, 2017 through September 30, 2017),
notional values of forward foreign currency contracts opened and closed were
$45,126,859 and $60,602,257, respectively.
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/Aberdeen Emerging Opportunity Fund
------------------------------------------------------
By (Signature and Title) /s/ James M. Dykas
----------------------------------------
James M. Dykas, President and
Chief Executive Officer
(principal executive officer)
Date: November 20, 2017
-----------------
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 20, 2017
-----------------
By (Signature and Title) /s/ Donald P. Swade
----------------------------------------
Donald P. Swade, Treasurer,
Chief Financial Officer and
Chief Accounting Officer
(principal financial officer)
Date: November 20, 2017
-----------------