Highland Capital Management Launches All Cap Equity Value Fund

DALLAS, April 19 /PRNewswire/ -- Highland Funds, managed by Highland Capital Management, L.P. ("Highland"), an investment management firm based in Dallas, Texas, announced today that it has launched the Highland All Cap Equity Value Fund ("the Fund") which seeks the long-term growth of capital and income through a deep value approach.

Highland is the investment adviser for the Fund and JS Asset Management LLC will serve as the sub-adviser.  The Fund will be managed by John K. Schneider, founder of JS Asset Management, who brings 24 years of experience employing a value-oriented investment strategy.  Prior to JS Asset Management, Mr. Schneider spent 6 years at PIMCO where he managed approximately $10 billion of assets including the PIMCO Value Fund and the PIMCO Renaissance Fund.

"John is an experienced asset manager, with a solid performance record, who is a pioneer in the deep value approach to equity investing," said Joe Dougherty, partner and head of retail products at Highland.  "The All Cap Equity Value Fund offers Highland's investors access to a niche investment style that we believe will offer attractive return opportunities versus the market.  Our partnership with John and JS Asset Management reflects Highland's commitment to identifying and partnering with the top managers for the investment strategies we choose to pursue."

The Fund seeks to generate alpha by investing in approximately 30 to 50 holdings across select industries.  The Fund seeks to invest in companies that possess identifiable catalysts which are expected to drive earnings or price appreciation over an 18 to 24 month time horizon.  Such catalysts may include improvements in supply and demand outlooks, hidden or undervalued assets, cost cutting and growth initiatives, management changes, insider ownership, or changes to industry dynamics.

"Deep value companies are at the center of our economic recovery," said John Schneider, portfolio manager of the Highland All Cap Equity Value Fund.  "This past recession significantly depressed earnings for many companies creating deep value opportunities for investors across a number of sectors.  We will focus our portfolio on the best ideas, identifying companies with attractive price to book ratios, price to recovery earnings ratios, and near term catalysts for growth.  Our goal is not to replicate value indexes, but outperform them over time."

The Fund offers 4 classes of shares for purchase, Class A (HEVAX), Class C (HEVCX), Class Z (HEVZX) & Class I (HEVIX).  More information about the Fund can be obtained by calling 877-665-1287 or by visiting http://www.highlandfunds.com/.

Mutual fund investing involves risk including the possible loss principal. The Fund's use of derivatives, hedging strategies and non-U.S. securities involve significant risks and losses may occur. The Fund is non-diversified and may invest a larger portion of its assets in fewer issuers than a more diversified fund making it more susceptible to fluctuations in value. The portfolio construction parameters outlined herein are for illustrative purposes only and remain subject to change. Investors should refer to the prospectus for portfolio diversification and investment limitations.

This press release may contain forward-looking statements describing future plans and objectives. These forward-looking statements, as well as future oral and written statements by the management of Highland Funds, are subject to various risks and uncertainties, which could cause actual results and conditions to differ materially from those projected, including the uncertainties associated with the timing of transaction closings, changes in interest rates, availability of transactions, the future operating results of our portfolio companies, changes in regional, national, or international economic conditions and their impact on the industries in which we invest, or changes in the conditions of the industries in which we invest, and other factors enumerated in our filings with the Securities and Exchange Commission ("SEC").

We may use words such as "anticipates," "believes," "expects," "intends," "will," "should," "may," "plans," "could," "estimates," "potential," "continue," "target," or the negative of these terms or other similar expressions to identify forward-looking statements.

Undue reliance should not be placed on such forward-looking statements as such statements speak only as of the date on which they are made. We do not undertake to update our forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

Investors should consider the investment objectives, risks, charges and expenses of the Highland Funds carefully before investing. Please call 1.877.665.1287 or visit www.highlandfunds.com for more information on the Funds. Please read the prospectus carefully before you invest.

Securities may be offered through NexBank Securities, Inc., an affiliate of Highland Capital Management, L.P. NexBank Securities, Inc. is a FINRA member firm.

About Highland Funds

Highland Funds is managed by Highland Capital Management, L.P. ("Highland").  Highland Funds consists of a number of distinct registered investment companies falling into three types: open-end "mutual" funds; closed-end "interval" funds; and traditional closed-end funds.

Highland Capital Management, L.P. is an SEC-registered investment adviser with approximately $24 billion of assets under management.  Founded in 1993, Highland is one of the largest global alternative fixed income managers, specializing in bank loans, high yield credit, distressed credit, structured products, equities, and real assets.  Highland's diversified client base includes mutual fund investors, public pension plans, foundations and endowments, corporations, financial institutions, governments, and high net worth individuals.  Highland Capital Management is headquartered in Dallas, Texas and maintains offices in New York, London and Singapore.

SOURCE Highland Capital Management, L.P.

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