DALLAS, Sept. 5,
2023 /PRNewswire/ -- The Highland Opportunities
and Income Fund (NYSE: HFRO) ("HFRO" or the "Fund") today announced
its regular monthly distribution on its common stock
of $0.0770 per share. The
distribution will be payable on September
29, 2023, to shareholders of record at the close of business
September 22, 2023.
The Fund is a closed-end fund that seeks to provide a high level
of current income, consistent with the preservation of capital in a
registered fund format. The Fund pursues its investment objective
by investing primarily in the following categories of securities
and instruments: (i) floating-rate loans and other securities
deemed to be floating-rate investments; (ii) investments in
securities or other instruments directly or indirectly secured by
real estate (including real estate investment trusts ("REITs"),
preferred equity, securities convertible into equity securities and
mezzanine debt); and (iii) other instruments, including but not
limited to secured and unsecured fixed-rate loans and corporate
bonds, distressed securities, mezzanine securities, structured
products (including but not limited to mortgage-backed securities,
collateralized loan obligations and asset-backed securities),
convertible and preferred securities, equities (public and
private), and futures and options. The Fund declares and pays
distributions of investment income monthly.
About the Highland Opportunities and Income Fund
The Highland Opportunities and Income Fund (NYSE: HFRO) is a
closed-end fund managed by NexPoint Asset Management, L.P. For more
information visit nexpointassetmgmt.com/income-fund/.
Effective June 15, 2023, the Fund
changed its name to the Highland Opportunities and Income Fund to
reflect a new investment objective. Under the modified investment
objective, the Fund will pursue growth of capital along with
income. For more information visit Highland Income Fund Announces
Share Repurchase Program, Changes to Fund Name and Investment
Objective – NexPoint Asset Management, L.P.
About NexPoint Asset Management, L.P.
NexPoint Asset Management, L.P. is an SEC-registered investment
adviser. It is the adviser to a suite of registered funds,
including open-end mutual funds, closed-end funds, and an
exchange-traded fund. For more information visit
Investors should consider the investment objectives,
risks, charges, and expenses of the Highland Opportunities and
Income Fund carefully before investing. This and other information
can be found in the Fund's prospectus, which may be obtained by
calling 1-800-357-9167 or
Please read the prospectus carefully before you
The distribution may include a return of capital. Please
refer to the 19(a)-1 Source of Distribution Notice on the Highland
Funds website for Section 19 notices that provide estimated amounts
and sources of the fund's distributions, which should not be relied
upon for tax reporting purposes.
No assurance can be given that the Fund will achieve its
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.
Closed-End Fund Risk. The Fund is a
closed-end investment company designed primarily for long-term
investors and not as a trading vehicle. No assurance can be given
that a shareholder will be able to sell his or her shares on the
NYSE when he or she chooses to do so, and no assurance can be given
as to the price at which any such sale may be affected.
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.
Non-payment of scheduled interest and/or principal 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. Investments in high yield Senior Loans and
other securities may result in greater NAV fluctuation than if the
Fund did not make such investments.
Real Estate Industry Risk: Issuers principally
engaged in real estate industry, including real estate investment
trusts, may be subject to risks similar to the risks associated
with the direct ownership of real estate, including:
(i) changes in general economic and market conditions;
(ii) changes in the value of real estate properties;
(iii) risks related to local economic conditions, overbuilding
and increased competition; (iv) increases in property taxes
and operating expenses; (v) changes in zoning laws;
(vi) casualty and condemnation losses; (vii) variations
in rental income, neighborhood values or the appeal of property to
tenants; (viii) the availability of financing and
(ix) changes in interest rates and leverage.
Illiquidity of Investments Risk. The
investments made by the Fund may be illiquid, and consequently the
Fund may not be able to sell such investments at prices that
reflect the Investment Adviser's assessment of their value or the
amount originally paid for such investments by the Fund.
Ongoing Monitoring Risk. On behalf of the
several Lenders, the Agent generally will be required to administer
and manage the Senior Loans and, with respect to collateralized
Senior Loans, to service or monitor the
collateral. Financial difficulties of Agents can pose a
risk to the Fund.
Prosek Partners for NexPoint
SOURCE Highland Opportunities and Income Fund