Highland Global Allocation Fund

Documents
SEC Filings
  •  Closed-end fund designed to provide low correlation to U.S. equity market
  • Applies global thematic investment style, pursuing investments that management team views as undervalued, built
    around high-conviction themes

Fund Materials

Fact Sheet
Prospectus
Annual Report

Fund Overview

Fund Overview

The Highland Opportunistic Credit Fund seeks to achieve high total returns while attempting to minimize losses.

As of 07/06/2020Class AClass CClass Z
SymbolHNRAXHNRCXHNRZX
Inception05/18/0505/18/0505/18/05
Net Asset Value (NAV)$2.39$2.37$2.36
As of 06/30/2020 Class AClass A (w/sales charge)Class CClass C (w/sales charge)Class Z
One Year-18.60%-21.51%-19.20%-19.78%-18.97%
Three Year-4.80%-5.91%-5.35%-5.35%-4.63%
Five Year-3.11%-3.78%-3.65%-3.65%-2.87%
Ten Year3.70%3.32%3.35%3.35%3.85%
Since Inception4.22%3.98%3.99%3.99%4.32%

Portfolio Manager

James Dondero - Profile

James Dondero, CFA

President, Co-Founder

  • Co-founded Highland Capital Management investment platform
  • Over 30 years of experience investing across asset classes
  • Committed to expanding investor access to alternatives

Trey Parker

Co-Chief Investment Officer and Partner

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Jon Poglish, CFA

Head of Credit Research

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Press Releases

Commentary

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.

1. 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 0.90% of average daily net assets of the Fund. The expense cap will continue through at least October 31, 2018.

*The maximum sales charge for Class A shares is 3.50%.

Credit Risk. The Fund may invest all or substantially all of its assets in Senior Loans or other securities that are rated below investment grade and unrated Senior Loans deemed by Highland to be of comparable quality. Securities rated below investment grade are commonly referred to as “high yield securities” or “junk securities.” They are regarded as predominantly speculative with respect to the issuing company’s continuing ability to meet principal and interest payments. Investments in high yield Senior Loans and other securities may result in greater NAV fluctuation than if the Fund did not make such investments.

Currency Risk. The risk that the values of foreign investments may be affected by changes  in the currency rates or exchange control regulations.

Debt Securities Risk. The Fund’s ability to invest in high-yield debt securities generally subjects the Fund to greater risk than securities with higher ratings.

Derivatives Risk.  Derivatives, such as futures and options, are subject to the risk that changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index. Derivatives also expose the Fund to the credit risk of the derivative counterparty. Derivative contracts may expire worthless and the use of derivatives may result in losses to the Fund.

Non-Diversification Risk. As a non-diversified fund, the Fund may invest a larger portion of its assets in the securities of one or a few issuers than a diversified fund.

Non-Payment Risk. Senior Loans, like other corporate debt obligations, are subject to the risk of non-payment of scheduled interest and/or principal. Non-payment would result in a reduction of income to the Fund, a reduction in the value of the Senior Loan experiencing non-payment and a potential decrease in the NAV of the Fund.

Senior Loans Risk. The risks associated with senior loans are similar to the risks of below investment grade securities in that they are considered speculative. In addition, as with any debt instrument, senior loans are also generally subject to the risk of price declines and to increases in prevailing interest rates. Senior loans are also subject to the risk that, as interest rates rise, the cost of borrowing increases, which may also increase the risk and rate of default. In addition, the interest rates of floating rate loans typically only adjust to changes in short-term interest rates; long term interest rates can vary dramatically from short term interest rates. Therefore, senior loans may not mitigate price declines in a rising long-term interest rate environment.

Glossary: Click for important terms and definitions

Source: SEI Investments Global Funds Services

Highland Funds’ mutual funds are distributed by NexPoint Securities, Inc., Member FINRA/SIPC