Highland Global Allocation Fund's Board Extends Repurchase Program

DALLAS, March 4, 2020 /PRNewswire/ -- Highland Capital Management Fund Advisors, L.P. (together with its affiliates "Highland") announced today that the Board of Trustees (the "Board") of the Highland Global Allocation Fund (NYSE: HGLB) (the "Fund") extended its repurchase program for a period of six months.

The extension provides a six-month period in which the Fund may repurchase up to approximately $18 million of shares in the open market pursuant to the same conditions as set forth in the Highland Funds II October 2018 definitive proxy statement.  With the latest Board extension, the Fund's total repurchases may reach a maximum of $30 million. 

The extension period commenced March 3, 2020. 

About Highland Capital Management Fund Advisors, L.P.

Highland Capital Management Fund Advisors, L.P. is an affiliated adviser of Highland Capital Management, L.P. (together with its affiliates "Highland"), a multibillion-dollar global alternative investment manager. A pioneer in the leveraged loan market, the firm has evolved over 25 years, building on its credit expertise and value-based approach to expand into other asset classes. Today, Highland operates a diverse investment platform, serving both institutional and retail investors worldwide. In addition to high yield credit, Highland's investment capabilities include public equities, real estate, private equity and special situations, structured credit, and sector- and region-specific verticals built around specialized teams. For more information visit www.highlandfunds.com.

Investors should consider the investment objectives, risks, charges and expenses of the Highland Global Allocation 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 www.highlandfunds.com. Please read the prospectus carefully before you invest.

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.

Media Contact Lucy Bannon [email protected]1-972-419-6272

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SOURCE Highland Capital Management Fund Advisors, L.P.