- The Fund seeks to provide maximum income consistent with prudent investment management and the preservation of capital.
The Fixed Income Fund seeks to provide maximum income consistent with prudent investment management and the preservation of capital.
Access to Institutionally Managed Fixed Income
- A total return strategy combining top-down positioning with fundamental, bottom-up issue selection managed within a disciplined risk framework
- The Fund invests primarily in a variety of investment-grade debt securities, such as mortgage-backed securities, corporate bonds, U.S. Government Securities and money market instruments. The Fund normally has a weighted average maturity of approximately 5 to 10 years.
- Top-down yield curve positioning and sector allocation
- Bottom-up bond selection
- Long-term investment horizon
|Fund NAV (As of Mar 27, 2020)|
|HFBAX (Class A)||$12.49|
|HFBCX (Class C)||$12.51|
|HFBYX (Class Y)||$12.48|
|Fund AUM (As of Mar 27, 2020)|
|Total Net Assets||$186.9 M|
|Class A||Class C||Class Y|
|Gross Expense Ratio||1.06%||1.03%||0.81%|
|Net Expense Ratio1||1.03%||1.78%||0.80%|
|As of 03/27/2020||Class A||Class C||Class Y|
|Net Asset Value (NAV)||$12.49||$12.51||$12.48|
|Daily NAV Change ($)||$0.05||$0.05||$0.05|
|Daily NAV Change (%)||0.40%||0.40%||0.40%|
|As of 02/29/2020||Class A||Class A (w/sales charge)||Class C||Class C (w/sales charge)||Class Y|
The performance data quoted here represents past performance and is no guarantee of future results. Investment returns and principal value will fluctuate so that an investor’s shares when redeemed may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted.
Please consider the investment objectives, risks, charges and expenses of Highland Funds carefully before investing. A prospectus with this and other information about Highland’s mutual funds can be found on the Literature tab above. You may also obtain a prospectus for our mutual funds by calling 877-665-1287. Please read the prospectus carefully before investing.
- Performance results reflect the contractual waivers and/or reimbursements of fund expenses by the Advisor. Absent this limitation, performance results would have been lower. The Advisor has contractually agreed to limit the total annual operating expenses of the Fund to 0.65% of average daily net assets attributable to any class of the Fund. The Expense Cap will continue through at least January 31, 2019.
*The maximum sales charge for Class A shares is 4.25%.
Securities Market Risk. The value of the securities may go up or down, sometimes rapidly or unpredictably, due to factors affecting particular companies or the securities market generally. A general downturn in the securities market may cause multiple asset classes to decline in value simultaneously, although equity securities generally have greater price volatility than fixed income securities.
Interest Rate Risk. The risk that fixed income securities will decline in value because of changes in interest rates. A fund with a longer average portfolio duration will be more sensitive to changes in interest rates than a fund with a shorter average portfolio duration.
Credit Risk. The risk that the Fund could lose money if the issuer or guarantor of a fixed income security, or the counterparty of a derivatives contract or repurchase agreement, is unable or unwilling (or is perceived to be unable or unwilling) to make a timely payment of principal and/or interest, or to otherwise honor its obligations.
Prepayment Risk. The risk that during periods of falling interest rates, issuers of debt securities may repay higher rate securities before their maturity dates. This may cause the Fund to lose potential price appreciation and be forced to reinvest the unanticipated proceeds at lower interest rates.
Mortgage-Back Securities Risk. The risk of investing in mortgage-backed securities, and includes interest rate risk, prepayment risk and the risk that the fund could lose money if there are defaults on the mortgage loans underlying these securities.
Foreign Investment Risk. The risk that investing in foreign (non-U.S.) securities may result in the Fund experiencing more rapid and extreme changes in value than a fund that invests exclusively in securities of U.S. companies, due to smaller markets, differing reporting, accounting and auditing standards, nationalization, expropriation or confiscatory taxation, currency blockages and political changes of diplomatic developments. The cost of investing in many foreign markets are higher than the U.S. and investments may be less liquid.
Currency Risk. The risk that the values of foreign investments may be affected by changes in the currency rates or exchange control regulations. If a foreign currency weakens against the U.S. dollar, the value of a foreign investment denominated in that currency would also decline in dollar terms.
High Yield Securities Risk. The risk that high yield securities or unrated securities of similar credit quality are more likely to default than higher rated securities. The market value of these securities is more sensitive to corporate developments and economic conditions and can be volatile. Market conditions can diminish liquidity and make accurate valuations difficult to obtain.
Asset Backed Securities Risk. The risk of investing in asset-backed securities, and includes interest rate risk, prepayment risk and risk that the Fund could lose money if there are defaults on the loans underlying these securities.
Derivatives Risk. The risk that an investment in derivatives may not correlate completely to the performance of underlying securities and may be volatile, and may result in a loss greater than the principal amount invested. Equity derivatives may also be subject to liquidity risk as well as the risk the derivative may be different than what would be produced through the use of another methodology or if it had been priced using market quotations.
Source: SEI Investments Global Funds Services
Highland Funds’ mutual funds are distributed by NexPoint Securities, Inc., Member FINRA/SIPC