Dallas, October 3, 2022 /PRNewswire/ — Highland Income Fund (NYSE: HFRO) (“HFRO” or the “Fund”) today announced that $0.0770 per share.Dividends are paid on the following day October 31, 2022 To registered shareholders at the close of business October 24, 2022.
The Fund is a closed-end fund managed by NexPoint Asset Management, LP (the “Manager”). The Fund pursues its investment objectives primarily by investing in the following categories of securities and instruments: (ii) investments in securities or other products that are directly or indirectly secured by real estate, including real estate investment trusts (“REITs”), preferred stock, securities convertible into equity and mezzanine debt; (iii) Secured and unsecured fixed rate loans and debentures, distressed securities, mezzanine securities, structured products (including but not limited to mortgage-backed securities, secured loan obligations and asset-backed securities); other commodities, including but not limited to), convertible and preferred securities, equities (both public and private), futures and options. The fund’s investment objective is to provide a high level of current income while maintaining capital in a registered fund format. The Fund declares and pays out monthly investment income distributions.
About Highland Income Fund
Highland Income Fund (NYSE: HFRO) is a closed-end fund managed by NexPoint Asset Management, LP. For more information, please visit www.highlandfunds.com/income-fund/.
About Nextpoint Asset Management
NexPoint Asset Management, LP is an SEC registered investment advisor. Advisor to a range of registered funds, including open-end mutual funds, closed-end funds and exchange-traded funds. For more information, please visit www.highlandfunds.com.
Investors should carefully consider the investment objectives, risks, charges and costs of the Highland Income Fund before investing. This and other information can be found in the fund’s prospectus. The prospectus is available by calling 1-800-357-9167 or by visiting www.highlandfunds.com. Please read the prospectus carefully before investing.
Effective shortly after the close of business November 3, 2017the Highland Floating Rate Fund was converted from an open-ended to a closed-end fund and began trading on the New York Stock Exchange under the symbol HFRO. November 6, 2017. The above performance data is November 3, 2017 reflects the Fund’s Class Z shares when it was an open-ended fund HFRZX. A closed-end fund pursues the same investment objectives and strategies as before the conversion. Expense ratio is the expense ratio of the Class Z shares of the Fund prior to the conversion.
Distributions may include return of capital. For Section 19 notices, please see 19(a)-1 Source of Distribution Notice on the Highland Fund’s website. The Section 19 Notice contains the estimated amount and source of the Fund’s distributions and should not be relied upon for tax reporting purposes.
There is no guarantee that the Fund will achieve its investment objectives.
Stocks in closed-end investment companies often trade at a discount to net asset value. The price of the Fund’s shares is determined by many factors, some of which are outside the Fund’s control. Therefore, the Fund cannot predict whether its shares will trade at, below, or above net asset value. Past performance is no guarantee of future results.
Closed-end fund risk. The Fund is a closed-end investment company designed primarily for long-term investors and not as a trading vehicle. If a stockholder chooses to sell his stock on the New York Stock Exchange, there is no assurance that he will be able to sell his stock.
credit risk. The Fund invests all or substantially all of its assets in senior loans or other securities rated below investment grade and in unrated senior loans deemed by Hyland to be of comparable quality. There are cases. Securities rated below investment grade are commonly referred to as “high yield securities” or “junk securities.” They are considered speculative primarily with respect to the issuer’s ability to continue to make principal and interest payments. Non-payment of scheduled interest and/or principal may reduce the Fund’s income, reduce the value of outstanding Senior Loans, and reduce the Fund’s NAV. Investments in high-yield senior loans and other securities may result in more volatile NAV than if the Fund had not made such investments.
senior loan risk. The London Interbank Offer Rate (“LIBOR”) is the average offer rate for short-term loans of various maturities between major international banks that are members of the British Bankers Association. LIBOR is the most common benchmark interest rate index used to adjust variable rate loans. It is used throughout the global banking and financial industry to determine interest rates on various financial instruments (such as debt instruments and derivatives) and borrowing agreements. Allegations of manipulation in 2012 and the decline in financial market activity it measures July 2017Financial Conduct Authority (“FCA”), England Financial regulators have announced their intention to phase out the use of LIBOR by the end of 2021. The period between the FCA’s announcement and the end of 2021 is generally expected to be sufficient time for market participants to transition to alternative uses, although LIBOR is expected to remain a benchmark for new securities and exchanges. Uncertainty remains as to the future use of , as well as specific exchange rates. As such, the potential impact of the transition away from LIBOR on trusts or financial instruments utilized by trusts cannot yet be determined. The transition process could include, among other things, increased volatility or illiquidity in markets for financial instruments currently dependent on LIBOR. This transition may also change (i) the value of certain financial instruments held by the Trust, (ii) the temporary borrowing costs of the Trust, or (iii) the effectiveness of related trust transactions such as hedging. . If LIBOR were to be withdrawn, LIBOR replacement rates could be lower than market expectations, which could adversely affect the value of preferred securities and bonds with floating or fixed-to-floating coupons. there is. Such effects, and other unforeseen effects, from the transition from LIBOR could result in losses for the Trust. These effects could occur by the end of 2021, as LIBOR may become less useful as a benchmark during the transition period.
Risks in the real estate industry: Issuers primarily engaged in the real estate industry, including real estate investment trusts, may be exposed to risks similar to those associated with direct ownership of real estate. (ii) changes in the value of real property; (iii) risks associated with local economic conditions, over-construction and increased competition; (iv) increased property taxes and operating expenses; (v) Changes to Zoning Laws. (vi) loss of casualties and convictions; (vii) changes in rental income, neighborhood values, or the property’s attractiveness to tenants; (viii) availability of funding; and (ix) changes in interest rates and leverage.
illiquidity of investment risk; Investments made by the Fund may be illiquid and, as a result, the Fund may sell such investments at a price that reflects an investment adviser’s valuation or the amount the Fund originally paid for such investment. investment may not be sold.
Continuous Surveillance Risk. On behalf of multiple lenders, agents are typically required to administer and administer senior loans and, in the case of secured senior loans, provide or monitor collateral. An agent’s financial difficulties may pose risks to the Fund.
SOURCEHighland Income Fund