ARTICLE
6 December 2017

Highland Shareholders Approve Proposed Fund Conversion To Closed-End Structure

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Herbert Smith Freehills Kramer LLP

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Highland Capital Management Fund Advisors announced that shareholders of its Highland Floating Rate Opportunities Fund approved the firm's proposal authorizing the conversion of the fund...
United States Finance and Banking

Highland Capital Management Fund Advisors announced that shareholders of its Highland Floating Rate Opportunities Fund approved the firm's proposal authorizing the conversion of the fund from an open-end fund to a closed-end fund. The board of trustees subsequently acted to convert the fund to a closed-end fund on Nov. 3, 2017. The proposal sought to protect shareholders in the event that the fund's previously-disclosed judgment against Credit Suisse Group is upheld on appeal, in which case Highland expects that approximately $279 million would be allocated to the fund, less attorneys' fees and other litigation-related expenses.

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