DALLAS – Highland Capital Management, L.P. (“Highland”), a Dallas-based investment management firm, which together with its affiliates manages approximately $19 billion in assets, announced the company has instituted a 95 basis point expense cap on the Highland Small Cap Equity Fund (HSZAX).
This move represents a 69 basis point savings from the last published gross expense ratio of 1.64 percent. The Highland Small Cap Equity Fund is sub-advised by Palisade Capital Management. It seeks to combine growth, value and core investment management styles and to maximize long term capital appreciation through investments in stocks of smaller companies. The Fund has achieved a four star ranking through Morningstar.¹
“We’re pleased to announce another expense cap further representing Highland’s continued commitment to providing competitive and differentiated strategies at attractive prices,” said Ethan Powell, Highland’s Chief Product Strategist. “We are committed to offering funds that are at or below the average expense ratio of their respective peer groups.”
Highland now has either expense caps or waivers in place in over half (7 out of 13) of its open-ended mutual funds.
About Highland Capital Management
Highland is a global alternatives and credit manager, specializing in credit hedge funds, long‐only funds and separate accounts; distressed and special situations private equity; and collateralized loan obligations (CLOs). Founded in 1993 by Jim Dondero and Mark Okada, Highland also offers alternative investments in healthcare, emerging markets, long/short equities, and natural resources. Highland consists of Highland Capital Management, L.P. and its affiliated advisers including Acis Capital Management, L.P., Falcon E&P Opportunities GP, LLC, Granite Bay Advisors, L.P., Highland Capital Healthcare Advisors, L.P., Highland Capital Management Fund Advisors, L.P., NexPoint Advisors, L.P., PetroCap, LLC and Tunstall Capital Management, L.P. Highland Capital Management, L.P. and its affiliated advisers are each separately registered with the U.S. Securities and Exchange Commission (SEC).
- As of 7/31/14, the Morningstar ratings for the overall periods of the Class A, A-LW, C and Y Shares were 3, 4, 4 and 4 stars among 642 Small Growth funds, respectively; the ratings for the three year periods of the Class A, A-LW, C and Y Shares were 4, 4, 4, and 5 stars among 642 Small Growth funds, respectively; the ratings for the five year periods of the Class A, A-LW, C and Y Shares were 3, 4, 4 and 4 stars among 569 Small Growth funds, respectively; and the ratings for the ten year periods of the Class A, A-LW, C and Y Shares were 3, 3, 3 and 4 stars among 377 Small Growth funds, respectively. The ratings are based on a Morningstar Risk-Adjusted Return measure. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three, five and 10-year (if applicable) Morningstar Rating metrics. Past performance is not indicative of future results. ©2014 by Morningstar, Inc. All rights reserved. The information contained herein is proprietary to Morningstar; may not be copied or redistributed; and is not warranted to be accurate, complete or timely. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. Morningstar calculates a load-waived version of each A share class for U.S.-domiciled funds (”A-LW”). Load-waived ratings better reflect the investor experience for those who purchase shares through retirement plans or who otherwise qualify to have the front load waived.
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 highlandfunds.com or call 1-877-665-1287. Please read the fund prospectus carefully before investing.