HFBCX : Highland Fixed Income Fund Class C

Fund Summary

The investment seeks maximum income consistent with prudent investment management and the preservation of capital. The fund seeks to achieve its investment objective by investing at least 80% of its net assets under normal circumstances in debt securities. It invests primarily in a variety of investment-grade debt securities, such as mortgage-backed securities, corporate bonds, U.S. government securities, investment-grade municipal obligations and money market instruments. The fund normally has a weighted average maturity of approximately five to ten years, but is subject to no limitation with respect to the maturities of the instruments.