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Highland Floating Rate Z (XLFZX)On Dec 4: 6.15  Down 0.02 (0.32%)  
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Profile  As of 31-Oct-09Get Profile for:
Highland Floating Rate Z
Highland Trust 13455 Noel Road, Suite 800 Dallas, Texas 75240
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Phone: 877-665-1287
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FUND OVERVIEW 
Category:Bank Loan
Fund Family:Highland Funds
Net Assets:42.20M
Year-to-Date Return:17.32%
Yield:9.13%
Morningstar Rating:2 stars
Fund Inception Date:18-Dec-98
MORNINGSTAR STYLE BOX 
Bank Loan
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MANAGEMENT INFORMATION 
Brad Means
Lead Manager since 31-Dec-08
Means is a Senior Portfolio Manager at Highland Capital Management, L.P. Prior to joining Highland, he was a Managing Director in FTI Consultings Corporate Finance group. From 1998 to 2001, Means was a Director in the PricewaterhouseCoopers Chairmans Office. Prior to this, he worked in the Strategic Change Consulting and the Assurance & Business Advisory groups of Price Waterhouse serving clients. Means holds the Chartered Financial Analyst designation.
INVESTMENT INFORMATION 
Min Initial Investment:$2,500
Min Initial Investment, IRA:$25
Min Initial Investment, AIP:$2,500
Min Subsequent Investment:$50
Min Subsequent Investment, IRA:$25
Min Subsequent Investment, AIP:$50
XLFZX can be purchased from 14 brokerages.
FUND SUMMARY 
The investment seeks to provide a high level of current income, consistent with preservation of capital. The fund invests at least 80% of net assets in a portfolio of interests in adjustable rate senior loans, the interest rates of which float or vary periodically based upon a benchmark indicator of prevailing interest rates (Senior Loans), to domestic or foreign corporations, partnerships and other entities that operate in a variety of industries and geographic regions (Borrowers). It may invest up to 20% of total assets in Senior Loans that are not secured by any collateral. The fund is nondiversified.
FUND OPERATIONS 
Last Dividend (30-Oct-09): 0.02
Last Cap Gain YFT_NOT_APPLICABLE_ABBREVIATION
Annual Holdings Turnover 27.00%
Average for Category: 39.52%
FEES & EXPENSES 
ExpenseXLFZXCategory
Avg
Total Expense Ratio:1.01% 1.38%
Max 12b1 Fee:0.00% N/A
Max Front End Sales Load:% 3.13%
Max Deferred Sales Load:% 2.14%
3 Yr Expense Projection*: $ 331$607
5 Yr Expense Projection*: $ 574$968
10 Yr Expense Projection*: $ 1,273$1,976
* Per $10,000 invested


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