Fund Description: Highland Global Allocation Fund is an exchange-traded closed-end fund (CEF) or a closed-end ETF that is officially described as a non-diversified, closed-end management investment company.<p> INVESTMENT OBJECTIVE: Highland Global Allocation Fund seeks long-term growth of capital and future income (future income means the ability to pay dividends in the future). <p> The FUND STRATEGY: The Fund seeks to achieve its investment objectives by investing in a portfolio of U.S. and foreign equity, debt and money market securities. Under normal market conditions, the Fund intends to invest at least 50% of its net assets in equity securities and at least 40% (plus any borrowings for investment purpose) of its net assets in securities of non-U.S. issuers. The Fund intends to invest approximately 40% or more of its net assets in securities of non-U.S. issuers at all times, however, in the event of unfavorable market conditions the Fund may invest less than 40% (but not less than 30%) of its assets in securities of non-U.S. issuers. <p> FUND MANAGEMENT: Highland Capital Management Fund Advisors, L.P. serves as investment adviser to the Fund.