Sec Form 13D Filing - Karpus Management Inc. filing for FIRST TRUST/ABRDN GLOBAL OPPORTUNITY INCOME FUND (FAM) - 2019-11-05

*See Items 2 and 5.

VIA FEDERAL EXPRESS 													November 4, 2019

First Trust/Aberdeen Global Opportunity Income Fund
Attn: W. Scott Jardine, Secretary
120 East Liberty Drive, Suite 400
Wheaton, Illinois 60187

Re:	14a-8 Shareholder Proposal for the First Trust/Aberdeen Global Opportunity
	Income Fund ("FAM" or the "Fund")

Mr. Jardine:

This letter shall serve as notice to the First Trust/Aberdeen Global Opportunity Income Fund ("FAM" or the "Fund"), as to Karpus Management, Inc.'s ("Karpus") timely submittal of a shareholder proposal pursuant to Rule 14a-8 of the Securities Exchange Act of 1934 for presentation to FAM shareholders at the Fund's next annual shareholders' meeting anticipated to be held in April 2020, or any postponement or adjournment thereof (the "Meeting"). Karpus' non-binding 14a-8 shareholder proposal (the "Proposal") is as follows:

BE IT RESOLVED, the shareholders of the First Trust/Aberdeen Global Opportunity Income Fund ("FAM" or the "Fund") request that the Trustees promptly consider authorizing a self-tender offer for all outstanding common shares of the Fund at or close to net asset value ("NAV"). If more than 50% of the Fund's outstanding common shares are tendered, the tender offer should be cancelled and the Board should take the steps necessary to liquidate, merge, or convert the Fund to an open-end mutual fund or exchange traded fund. Supporting Statement The Trustees of a closed-end fund have a key responsibility - to represent the interests of shareholders. One of closed-end fund shareholders' key concerns is how the discount of their fund is managed by their Board. In turn, it follows that the trustees of a closed-end fund should therefore be highly interested in managing that discount. The Trustees of FAM have simply failed to do this. In May 2017, the Fund conducted a tender offer for 25% of the Fund's shares outstanding at a price that represented 98% of the then net asset value (NAV). The tender offer was two-times oversubscribed, indicating a strong shareholder desire to realize near-NAV for their investment. Trustees should have heard the message from shareholders - loud and clear. Adding to our frustrations, FAM has employed an ongoing share repurchase program since September 2015. The program, presumably designed to enhance shareholder value, was set in place to repurchase up to 5% of the Fund's outstanding shares. The program resulted in FAM repurchasing 0.8% in 2015, 0 shares in 2016 and 2017 and just 1.38% in 2018 despite an average discount in excess of 13%. To date, announced repurchases in 2019 have amounted to just 0.11% of the Fund's outstanding shares. Did our Trustees and management just use the "program" as a sound bite to look like action was being taken? The Fund's own prospectus requires the Trustees to "...consider whether to commence a tender offer or share-repurchase program at the first quarterly board meeting following a calendar year in which the fund's common shares have traded at an average weekly discount from net asset value of more than 10% in the last 12 weeks of that calendar year." The Fund traded at a discount from NAV in excess of 15% for the last 12 weeks of the 2018 calendar year. With their fiduciary duty to shareholders, did the Trustees then authorize a tender offer in early 2019? They did not. As shareholders, we cannot imagine a more appropriate time to conduct a tender offer, as was contemplated in the original prospectus. Trustee apathy cannot go unchallenged. Shareholders have made their opinions clear and Trustees have failed to recognize and respond. As long-term shareholders of the Fund, Karpus is extremely disappointed in the performance of the Fund's Trustees. Please vote FOR Karpus' Proposal and tell our Fund's Trustees that you want them to take more effective action to manage the Fund's discount. END OF PROPOSAL

As is required by Rule 14a-8, attached as Exhibits 1 and 2 are letters from U. S. Bank N.A. and the "record" holder of the referenced shares, verifying that the referenced shares were continuously and beneficially owned, and had a market value of $2,000 or more, for at least a one year period prior to the date of the submittal of the above Proposal. Karpus intends to hold the shares referenced through the date of the Meeting. Please advise us immediately if this notice is deficient in any way or if any additional information is required so that Karpus may promptly provide it in order to cure any deficiency.

Sincerely,


/s/ Brett D. Gardner

Brett D. Gardner
Senior Corporate Governance Analyst

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Exhibit 1
U.S. Bank N.A. Letter

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Exhibit 2
Cede & Co. Letter

In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including additional amendments thereto), dated the date hereof, with respect to the shares of Common Stock of the First Trust/Aberdeen Global Opportunity Income Fund. This Joint Filing Agreement shall be filed as an Exhibit to such statement. November 4, 2019