Highland Funds I - Highland Income Fund

Frequently Asked Questions About HFRO

What does HFRO invest in?

The Highland Funds I - Highland Floating Rate Opportunities Fund operates as a closed-end mutual fund dedicated to fixed income investments, originally launched by Highland Capital Management, L.P. Its management responsibilities are overseen by Highland Capital Management Fund Advisors, L.P. The fund's investment approach encompasses fixed income markets worldwide, primarily targeting instruments that offer floating rate returns. This strategy largely involves adjustable rate senior loans provided to corporations and partnerships, as well as other financial products considered floating rate investments. It actively seeks opportunities within the sphere of below-investment-grade securities and also incorporates derivatives into its investment methodology. The performance of its portfolio is measured against the Credit Suisse Leveraged Loan Index. Founded in the United States on January 13, 2000, the fund was formerly recognized as Pyxis Funds I - Pyxis Floating Rate Opportunities Fund.

What is the expense ratio of HFRO?

An expense ratio for Highland Funds I - Highland Income Fund (HFRO) is not available from our data sources — neither our market-data feed nor the SEC's structured prospectus and annual-report datasets report one for this share class. The fund's prospectus on the issuer's site carries the authoritative fee.

What is HFRO's dividend yield?

HFRO's trailing-twelve-month yield is 6.33%, calculated from the sum of dividends over the past year divided by the current price.

How big is HFRO?

Highland Funds I - Highland Income Fund (HFRO) manages $404.5M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is HFRO actively managed or an index fund?

HFRO's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

When was HFRO launched?

Highland Funds I - Highland Income Fund (HFRO) launched in November 2017 and is managed by the fund issuer.