Highland Capital Management Increases its Shares in Nexpoint Fund

In 1993, James Dondero founded Highland Capital Management. The company is based in Texas and deals with structured investments, fixed income, and public equity. The latest SEC reports show that the corporation is valued at over $ 2.4 billion. Highland Capital has increased its shares in Nexpoint Credit Strategies. According to SEC, the company has upped its shares to reach 5.0 percent of the outstanding common stock. James Dondero is reportedly said to own 3.01 million shares. Highland Capital added 20,286 shares to reach a worth of $ 11.68 million. The institution became the largest shareholder after Morgan Stanley, who is said to own $ 16.77 million worth of Nexpoint shares.

 

Nexpoint is a closed-end fund and is ranked among the top 10 percent of Closed-End Funds (CEFs). The institution was split into two companies which traded differently in the stock market. The splitting of the company into Nexpoint Credit Strategies Fund and Nexpoint Residential Trust Inc. took place in 2016. Nexpoint Fund is responsible for doing business by investing in grade debt. The company’s portfolio is estimated to be over $600 million with an asset base of over $382 million.

 

Nexpoint Credit seeks to exceed the returns of the CS hedge fund. It is considered to be different from regular CEFs. After the split, the institution went on to pile up its real estate assets. However, the company’s funds are either registered under Highland Capital or James D Dondero. The fund recorded a 5.92 percentage growth rate in 2016 even after recording losses in 2015. The downfall was as a result of setbacks in Texas Competitive Electronic restructuring issues. The Enterprise announced that the shareholders would earn monthly dividends ranging from $ 0.24 per share.

 

James Dondero enrolled at the University of Virginia. He graduated from the school of commerce with dual majors in accounting and finance. He is the co-founder and CEO of Highland Capital Management. Dondero has an experience of over 30 years in the credit and equity industry.

Before Highland Capital, he participated in the founding and developing over 50 companies. James began as an analyst in Morgan Guaranty training program. He holds the position of Chairman in NexBank. Additionally, Dondero has been involved in several philanthropic deeds.

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