Total Return Fund

jhakopian-thumbJOHN HAKOPIAN
First Foundation Advisors

Bio »

President, First Foundation Advisors

Mr. Hakopian oversees the vision, strategy, operations and development of the investment management service for the firm. His entrepreneurial spirit combined with his focus on results, exceptional interpersonal skills, and ability to emphasize people’s core needs continue to drive First Foundation’s management success as the regions’ leading independent wealth advisory firm. Having been with First Foundation since its inception in 1990, Mr. Hakopian has been closely involved in developing and delivering the firm’s investment services. He became President in 2009. Mr. Hakopian earned a Bachelor of Arts degree cum laude in economics in three years from the University of California, Irvine and an MBA in Finance from the University of Southern California.

Portfolio Manager,
First Foundation Advisors

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Portfolio Manager, First Foundation Advisors

Mr. Garrison is part of the investment team managing First Foundation Advisors’ proprietary Large Cap Value Equity Portfolio as well as the manager of the Dividend Strategy Portfolio. As a member of the First Foundation Advisors Investment Committee he assists in shaping the portfolio investment process and overall asset allocations.

Mr. Garrison joined First Foundation in 1999 after serving as an Internal Audit Consultant for Arthur Anderson, LLP. He earned his Chartered Financial Analyst designation in 2003 and is a member of the CFA Society of Los Angeles and the CFA Institute.

Mr. Garrison holds a Bachelor of Science degree in Agricultural and Managerial Economics from the University of California, Davis.

Portfolio Manager,
First Foundation Advisors

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Portfolio Manager, First Foundation Advisors

Mr. Speron is part of the investment team managing First Foundation Advisors’ Large Cap Value Equity Portfolio as well as the manager of the Opportunistic Equity Portfolio. As a member of the First Foundation Advisors Investment Committee he assists in shaping the portfolio investment process and overall asset allocations.

Mr. Speron joined First Foundation Advisors in 2007 from JPMorgan’s Institutional Equity division to focus exclusively on equity analysis and portfolio management.

Mr. Speron is currently a member of the CFA Institute and the Orange County Society of Financial Analysts. He earned a Bachelor of Arts Degree with a double major from Georgetown University where he was also voted Academic All-American, Mid-Atlantic, for his academic and athletic accomplishments.

Fund Overview

Investment Objective

The Total Return Fund seeks to maximize total return by investing primarily in a combination of U.S. and foreign equity and debt securities.  

Access to Institutionally Managed Asset Allocation
  • Asset allocation process utilizes information from the Fund’s sub-adviser, First Foundation Advisors, to diversify holdings across asset classes
  • Adjusts its weightings based on market and economic conditions to meet its objectives
  • The Fund may also at times adjust its investment exposure through the use of various investment techniques, including investments in derivative instruments to gain exposure to certain types of securities as an alternative to investing directly in such securities, to manage currency exposure and interest rate exposure, and to manage exposure to credit quality
Fund NAV (As of Jul 25, 2017)
HTAAX (Class A)$24.21
HTACX (Class C)$21.72
HTAYX (Class Y)$24.60
Fund AUM (As of Jul 25, 2017)
Total Net Assets$96.16 M
Class AClass CClass Y
Gross Expense Ratio1.37%2.12%1.12%
Net Expense Ratio11.37%2.12%1.12%

Historical Returns & NAV

As of 07/25/2017Class AClass CClass Y
Net Asset Value (NAV)$24.21$21.72$24.60
Daily NAV Change ($)$0.03$0.03$0.04
Daily NAV Change (%)0.12%0.14%0.16%
As of 06/30/2017 MonthlyQuarterlyClass AClass A (w/sales charge)Class CClass C (w/sales charge)Class Y
Year To Date7.42%1.26%6.99%5.99%7.53%
One Year16.69%9.98%15.81%14.81%16.96%
Three Year5.69%3.63%4.89%4.89%5.94%
Five Year8.35%7.07%7.53%7.53%8.61%
Ten Year3.80%3.19%3.02%3.02%4.04%
Since Inception7.08%6.81%4.27%4.27%7.27%

View all Literature & Forms

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. The Advisor has contractually agreed to limit the total annual operating expenses of the Fund to 0.95% of average daily net assets of the Fund. The expense cap will continue through at least January 31, 2018.

*The maximum sales charge for Class A shares is 5.75%.

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.

Growth Investing Risk. The risk of investing in growth stocks that may be more volatile than other stocks because they are more sensitive to investor perceptions of the issuing company’s growth potential.

Value Investing Risk. The risk of investing in undervalued stocks that may not realize their perceived value for extended periods of time or may never realize their perceived value.  Value stocks may respond differently to market and other developments than other types of stocks.

Mid-Cap Company Risk. The risk of investing in securities of mid-cap companies that could entail greater risks than investments in larger, more established companies. Mid-cap companies tend to have narrower product lines, more limited financial resources and a more limited trading market for their stocks, as compared with larger companies. As a result, their stock prices may decline significantly as market conditions change.

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.

Emerging Markets Risk. The risk of investing in securities of companies located in emerging markets countries, which primarily includes increased foreign investments risk. Emerging markets countries may have unstable governments and/or economies that are subject to sudden change, and may also lack the legal, business and social framework to support securities markets, which tends to make investments less liquid and more volatile.

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.

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.

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.

Glossary: Click for important terms and definitions

Source: State Street Bank and Trust Company

Highland Funds’ mutual funds are distributed by Highland Capital Funds Distributor