Highland Income Fund Announces Changes to Portfolio Management Team

Rhea-AI Summary

The Highland Income Fund (NYSE: HFRO) announced changes to its portfolio management team, effective January 30, 2023. Scott Johnson is appointed as a new portfolio manager, joining James Dondero. Joseph Sowin will no longer serve as a portfolio manager. Johnson brings over 25 years of investment management experience, particularly in private equity and hedge funds. The Fund will continue its existing investment strategies as outlined in its Prospectus, ensuring no significant changes in its operational approach.

Positive

• Scott Johnson's appointment may enhance investment management with his extensive experience.

Negative

• Joseph Sowin's departure may indicate instability in the management team.

DALLAS, Jan. 27, 2023 /PRNewswire/ -- The Highland Income Fund (NYSE: HFRO) ("HFRO" or the "Fund") today announced changes to the Fund's portfolio management team, effective January 30, 2023. Scott Johnson has been named as a portfolio manager of the Fund. Mr. Johnson will oversee the Fund's investment activities alongside current portfolio manager James Dondero.  Joseph Sowin will no longer serve as portfolio manager.

The Fund will continue to be managed pursuant to the investment objective and strategies as described in the Fund's Prospectus without change.

Mr. Johnson is managing director and portfolio manager at NexPoint. He has over 25 years of investment management experience with extensive experience in private equity, mergers and acquisitions, and long/short hedge funds. Mr. Johnson received a B.B.A. in Finance with honors from the University of Texas at Austin and an MBA from Harvard Business School.

About the Highland Income Fund

The Highland Income Fund (NYSE: HFRO) is a closed-end fund managed by NexPoint Asset Management, L.P. For more information visit nexpointassetmgmt.com/income-fund/.

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 nexpointassetmgmt.com.

Investors should consider the investment objectives, risks, charges, and expenses of the Highland 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 visiting nexpointassetmgmt.com. Please read the prospectus carefully before you invest.

CONTACTS

Investor Relations
Kristen Thomas
IR@nexpoint.com

Media Relations
Prosek Partners for NexPoint
pro-nexpoint@prosek.com

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SOURCE Highland Income Fund

FAQ

Who is Scott Johnson in relation to Highland Income Fund?

Scott Johnson has been appointed as a new portfolio manager for Highland Income Fund, effective January 30, 2023.

What changes were announced for the HFRO management team?

The Highland Income Fund announced that Scott Johnson will join James Dondero as a portfolio manager, while Joseph Sowin will no longer serve in that role.

How might the management changes affect Highland Income Fund's performance?

The changes could influence the Fund's investment strategies, potentially impacting its overall performance, depending on the new management's effectiveness.

What is the investment background of Scott Johnson?

Scott Johnson has over 25 years of experience in investment management, specializing in private equity, mergers and acquisitions, and hedge funds.

Will Highland Income Fund's investment strategies change after the management update?

No, the Fund will continue to manage under the same investment objective and strategies as described in its Prospectus.