DALLAS, Aug. 20, 2019 /PRNewswire/ -- Highland Capital
Management Fund Advisors, L.P. (together with its affiliates
"Highland") announced today that the Board of Trustees (the
"Board") of the Highland Global Allocation Fund (NYSE:HGLB) (the
"Fund") approved up to an additional $20
million of share repurchases of the Fund's shares and an
extension of the repurchase program for a period of six months.
This comes following the Fund's completion of $10 million in share repurchases in July, which
the Board approved in conjunction with the conversion of the Fund
from an open-end fund to a closed-end fund. The Fund converted to
closed-end fund in February 2019.
With the latest Board approval, the Fund's total repurchases may
reach a maximum of $30 million.
The extended repurchase program provides a six-month period in
which the Fund may repurchase the additional $20 million of shares in the open market pursuant
to the same conditions as set forth in the Highland Funds II
October 2018 definitive proxy
statement. The extension period commenced August 15, 2019.
About Highland Capital Management Fund Advisors, L.P.
Highland Capital Management Fund Advisors, L.P. is an affiliated
adviser of Highland Capital Management, L.P. (together with its
affiliates "Highland"), a multibillion-dollar global alternative
investment manager. A pioneer in the leveraged loan market, the
firm has evolved over 25 years, building on its credit expertise
and value-based approach to expand into other asset classes. Today,
Highland operates a diverse investment platform, serving both
institutional and retail investors worldwide. In addition to high
yield credit, Highland's investment capabilities include public
equities, real estate, private equity and special situations,
structured credit, and sector- and region-specific verticals built
around specialized teams. For more information visit
www.highlandfunds.com.
Investors should consider the investment objectives,
risks, charges and expenses of the Highland Global Allocation 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
visiting www.highlandfunds.com.
Please read the prospectus carefully before you invest.
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.
Media Contact
Lucy
Bannon
lbannon@highlandcapital.com
1-972-419-6272
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SOURCE Highland Capital Management Fund Advisors, L.P.
