DALLAS, Sept. 28, 2015 /PRNewswire/ -- NexPoint Advisors, L.P. announces that the NexPoint Credit Strategies Fund (NYSE: NHF) ("NHF" or the "Fund") stands to benefit from a $287.5 million litigation judgment, of which the Fund would receive $51 million, subject to counsel fees, expenses and other additional calculations. The Fund also will be seeking $13.7 million in additional pre-judgment interest. The judgment remains subject to appeal, and no assurance can be given that the Fund will be successful in seeking pre-judgment interest; it is not known when or how much, if any, of these monies the Fund will receive. As a result in accordance with GAAP, this judgment is not currently recorded as an asset of the fund.
The Fund is a closed-end fund managed by NexPoint Advisors, L.P (the "Manager"), an affiliated adviser of Highland Capital Management, L.P. The Fund invests primarily in below investment grade debt and equity and has the ability to hedge risk. The Manager attempts to deliver consistent returns in excess of the Credit Suisse Hedge Fund and the HFRX Global Hedge Fund indices in a transparent, registered fund format with consistent monthly dividends.
About NexPoint Credit Strategies Fund
NexPoint Credit Strategies Fund is a closed-end fund managed by NexPoint Advisors, L.P. The Fund's investment objectives are to provide both current income and capital appreciation. The Fund is invested primarily in below investment grade debt and equity securities and has the ability to hedge risk. The manager attempts to exceed the return of Dow Jones Credit Suisse Hedge Fund Index in a transparent, registered fund format with monthly dividends. An investment in the Fund is not appropriate for all investors. No assurance can be given that the Fund will achieve its investment objectives.
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.
About Highland Capital Management
Highland Capital Management, L.P. is an SEC-registered investment adviser which, together with its affiliates, has approximately $22 billion of assets under management. Founded in 1993 by James Dondero and Mark Okada, Highland is one of the largest and most experienced global alternatives, credit and equity managers and has been instrumental in providing alternative investment solutions for over 20 years. Highland invests across a variety of asset classes and structures within the alternative landscape including hedge funds, separate accounts, distressed and special situations private equity, collateralized loan obligations (CLOs), mutual funds and ETFs. Highland's diversified client base includes wealth managers, public pension plans, foundations, endowments, corporations, financial institutions, fund of funds, governments, and high net-worth individuals. Our firm is headquartered in Dallas, Texas and maintains offices in New York, Sao Paulo, Singapore, and Seoul.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 1-866-665-1287 or visit www.nexpointadvisors.com for more information on the Funds. Please read the prospectus carefully before you invest.
Investor Relations Highland Capital Management, L.P. Brian Mitts, 972-419-2556 BMitts@highlandfunds.com
Public Relations Prosek Partners Cristina Martinez, 212-279-3115 x215 firstname.lastname@example.org
SOURCE Highland Capital Management, L.P.