UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
November 20, 2006
FIRST TRUST/VALUE LINE(R) & IBBOTSON EQUITY ALLOCATION FUND
(Exact name of registrant as specified in its charter)
Massachusetts 811-21517 30-0233832
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1001 Warrenville Road, Suite 300, Lisle, Illinois 60532
(Address and Zip Code of principal executive offices)
Registrant's telephone number, including area code: (630) 241-4141
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Item 8.01 Other Events.
On November 20, 2006, First Trust/Value Line(R) &
Ibbotson Equity Allocation Fund (AMEX - FVI), a diversified
closed-end management investment company ("FVI" or the "Fund"),
announced that the Board of Trustees of the Fund (the "Board")
approved and adopted a Plan of Termination, Liquidation and
Dissolution (the "Plan") which results in the termination of FVI
in accordance with the laws of the Commonwealth of Massachusetts
and the Declaration of Trust of FVI dated February 20, 2004.
Holders of record of shares of FVI at the close of
business on November 30, 2006 (the "Record Date") shall be
entitled to a distribution of their allocable portion of the
trust property of FVI in accordance with the Plan. The Record
Date shall be the date that the transfer agent's books will be
closed. FVI intends to make a first and final liquidating
distribution to holders of record by December 8, 2006. Shares of
FVI shall cease trading on the American Stock Exchange on the
Record Date.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number: Title:
2.1 Plan of Termination, Liquidation and Dissolution
made by First Trust/Value Line(R) & Ibbotson Equity
Allocation Fund on November 17, 2006.
99.1 Form of Notice of Termination of Fund sent to
Shareholders on November 20, 2006.
SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly
authorized.
FIRST TRUST/VALUE LINE(R) & IBBOTSON
EQUITY ALLOCATION FUND
(Registrant)
/s/ W. Scott Jardine
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W. Scott Jardine
Secretary
Date: November 20, 2006