Nasdaq - Delayed Quote USD

NexPoint Merger Arbitrage Z (HMEZX)

19.93 -0.01 (-0.05%)
At close: 8:00 PM EDT

Fund Summary

The fund normally invests at least 80% of the value of its total assets (net assets plus the amount of any borrowings for investment purposes) in securities of companies that are involved in publicly-announced mergers (including mergers through takeovers and tender offers, so long as tender offers are being used to effect a merger) ("Merger Transactions") or companies that the Adviser believes may be involved in Merger Transactions. It engages in risk arbitrage strategies, particularly merger arbitrage strategies, in order to achieve its investment objective. The fund is non-diversified.

NexPoint Merger Arbitrage Z

Dallas TX 75240
300 CRESCENT COURT, SUITE 700

Fund Overview

Category Event Driven
Fund Family Highland Funds
Net Assets 799.82M
YTD Return 4.45%
Yield 5.03%
Morningstar Rating
Inception Date Aug 19, 2016

Fund Operations

Last Dividend 0.50
Last Cap Gain -1.00
Holdings Turnover 483.00%
Average for Category --

Fees & Expenses

Expense HMEZX Category Average
Annual Report Expense Ratio (net) 1.90% 1.90%
Prospectus Net Expense Ratio 1.90% --
Prospectus Gross Expense Ratio 2.04% --
Max 12b1 Fee -- --
Max Front End Sales Load -- 4.94%
Max Deferred Sales Load -- 1.00%
3 Yr Expense Projection 0 --
5 Yr Expense Projection 0 --
10 Yr Expense Projection 0 --

Management Information

Mr. Heiss is a Managing Director at HCMFA. Prior to his current position, he served as a Director of equity investments. Before joining Highland in July 2013, Mr. Heiss spent three years as a Senior Analyst and Partner at Varna Capital where he was a Generalist covering multiple sectors for the long/short equity hedge fund. Prior to Varna, Mr. Heiss spent three years as an Analyst at Maverick Capital where he covered the U.S. Financial Services sector for the $10 billion long/short equity hedge fund. Mr. Heiss began his career at Goldman Sachs in New York, first as a Senior Analyst in the Finance Division and later as an Investment Banking Analyst in the Financial Institutions Group. Mr. Heiss holds a B.B.A. in Finance from the University of Miami and has earned the right to use the Chartered Financial Analyst designation.

Morningstar Style Box

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Morningstar Category

While the investment objective stated in a fund's prospectus may or may not reflect how the fund actually invests, the Morningstar category is assigned based on the underlying securities in each portfolio. Morningstar categories help investors and investment professionals make meaningful comparisons between funds. The categories make it easier to build well-diversified portfolios, assess potential risk, and identify top-performing funds. We place funds in a given category based on their portfolio statistics and compositions over the past three years. If the fund is new and has no portfolio history, we estimate where it will fall before giving it a more permanent category assignment. When necessary, we may change a category assignment based on recent changes to the portfolio.

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