DALLAS, Oct. 25, 2019 /PRNewswire/ -- Highland Capital
Management Fund Advisors, L.P. ("HCMFA") announced today that the
Board of Trustees (the "Board") of the Highland Income Fund (NYSE:
HFRO) ("HFRO" or the "Fund") approved a repurchase program pursuant
to which the Fund may repurchase up to $25
million of the Fund's shares over a period of six
months.
The program allows for the Fund to repurchase shares, if trading
at a discount, in open market transactions until the conclusion of
the repurchase period on April 24,
2020.
By purchasing Fund shares, which are currently trading at a
discount to the Fund's net asset value, HCMFA seeks to enhance
value for HFRO shareholders.
The total repurchase amount and the timing of repurchases will
be subject to the Fund's available cash, after consideration of
reserves necessary for anticipated fund expenses and contingencies.
The Fund may sell portfolio securities in order to generate cash.
There is no assurance that the Fund will repurchase shares in any
amount.
About the Highland Income Fund
The Highland Income Fund (NYSE: HFRO) (the "Fund") is a
closed-end fund managed by Highland Capital Management Fund
Advisors, L.P. ("HCMFA"). On May 20,
2019, the Fund changed its name from the Highland Floating
Rate Opportunities Fund to the Highland Income Fund. The Fund seeks
to provide a high level of current income consistent with the
preservation of capital. For more information visit
www.highlandfunds.com/income-fund/.
Shares of closed-end investment companies frequently trade
at a discount to net asset value. The price of the Fund's shares is
determined by a number of factors, several of which are beyond the
control of the Fund. Therefore, the Fund cannot predict whether its
shares will trade at, below or above net asset value. Past
performance does not guarantee future results.
About Highland Capital Management Fund Advisors, L.P.
Highland Capital Management Fund Advisors, L.P. ("HCMFA") is an
SEC-registered investment adviser operating on a
multibillion-dollar global alternative investment platform. HCMFA
manages a suite of investment offerings, including closed-end
funds, open-end funds, and an exchange-traded fund, which cover a
range of asset classes and investment strategies. For more
information visit www.highlandfunds.com.
Before investing in the Fund, you should carefully
consider the Fund's investment objectives, risks, charges, and
expenses. For a copy of a prospectus or summary prospectus, which
contains this and other information, please visit our website
at www.highlandfunds.com or call
1-877-665-1287. Please read the fund prospectus carefully before
investing.
Media Contact
Lucy Bannon
lbannon@highlandcapital.com
1-972-419-6272
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SOURCE Highland Capital Management Fund Advisors, L.P.