NexPoint Strategic Opportunities Fund Announces Rights Offering

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NexPoint Strategic Opportunities Fund Announces Rights Offering

PR Newswire

DALLAS, April 20, 2018 /PRNewswire/ — NexPoint Strategic Opportunities Fund (NYSE: NHF) (the “Fund”), formerly known as NexPoint Credit Strategies Fund, today announced the commencement of a non-transferable rights offering to purchase additional shares of common stock of the Fund (the “Offering”).

 (PRNewsfoto/NexPoint Advisors, L.P.)

The Fund is issuing non-transferable rights (“Rights”) to its common shareholders of record as of May 9, 2018 (the “Record Date” and such shareholders, “Record Date Shareholders”). Record Date Shareholders will receive one Right for each common share held on the Record Date. The Rights will entitle the Record Date Shareholders to purchase one new share of common stock for every three Rights held (1 for 3). The Rights will be mailed to Record Date Shareholders approximately two business days after the Record Date.

Record Date Shareholders who fully exercise their Rights will be entitled to subscribe for additional common shares of the Fund that remain unsubscribed as a result of any unexercised Rights by Record Date Shareholders. In addition, the Fund in its sole discretion may elect to issue additional common shares in an amount up to 25% of the common shares issued in the primary subscription.

The subscription price per common share will be determined based upon a formula equal to the lesser of (1) 95% of the reported net asset value on May 29, 2018 (the “Expiration Date”), or (2) 95% of the average of the last reported sales price of the Fund’s common shares on the New York Stock Exchange (“NYSE”) on May 29, 2018 (the “Expiration Date”) and on each of the four trading days preceding the Expiration Date.

Important Upcoming Dates:

Record Date:

May 9, 2018

Subscription Period:

May 10, 2018 to May 29, 2018

Expiration Date

May 29, 2018

The Fund completed a successful rights offering in May 2017 with the same terms.  In the 2017 offering, shareholders subscribed for approximately $269 million worth of shares of the Fund, or 233% of the original offering size. Over-subscription requests exceeded the over-subscription shares available; therefore, the over-subscription shares were allocated pro-rata among those record date shareholders who over-subscribed based on the number of common shares of the Fund owned by such shareholders on the record date. We encourage you to consider participating fully in the upcoming rights offering by exercising your rights to buy one new share for every three shares owned on the record date and by oversubscribing for additional unsubscribed rights. Please refer to the Fund’s prospectus available at www.nexpointadvisors.com for more information on how to participate. 

About NexPoint Strategic Opportunities Fund

NexPoint Strategic Opportunities Fund is a closed-end fund managed by NexPoint Advisors, L.P. The Fund’s investment objectives are to provide both current income and capital appreciation. The Fund seeks to achieve this by investing primarily in the following categories of securities and instruments of corporations and other business entities: (i) secured and unsecured floating and fixed rate loans; (ii) bonds and other debt obligations; (iii) debt obligations of stressed, distressed and bankrupt issuers; (iv) structured products, including but not limited to, mortgage-backed and other asset-backed securities and collateralized debt obligations; (v) equities; (vi) other investment companies, including business development companies; and (vii) real estate investment trusts. The Fund may also invest in derivative instruments that have economic characteristics similar to instruments in investment categories (i) - (vii)and has the ability to hedge risk. The Fund’s investment adviser attempts to deliver consistent returns in excess of the Dow Jones Credit Suisse Hedge Fund and the HFRX Global Hedge Fund indices in a transparent, registered fund format consistent with monthly dividends. No assurance can be given that the Fund will achieve its investment objectives.

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.

Before exercising your Rights and investing in the Fund’s common shares, you should read the discussion of the material risks of investing in the Fund in the prospectus for the Offering.  Certain of these risks are summarized below:  


Interest Rate Risk.

 Interest rate risk is the risk that debt securities, and the Fund’s net assets, may decline in value because of changes in interest rates. Generally, fixed rate debt securities will decrease in value when interest rates rise and increase in value when interest rates decline.


Leverage Risk.

 The Fund uses leverage through borrowings from notes and a credit facility, and may also use leverage through the issuances of preferred shares. The use of leverage magnifies both the favorable and unfavorable effects of price movements in the investments made by the Fund. Insofar as the Fund employs leverage in its investment operations, the Fund will be subject to substantial risks of loss.


Closed-End Fund Risk.

 The Fund is a closed-end investment company designed primarily for long-term investors and not as a trading vehicle.  No assurance can be given that a shareholder will be able to sell his or her shares on the NYSE when he or she chooses to do so, and no assurance can be given as to the price at which any such sale may be effected.


Industry Concentration Risk.

 The Fund must invest at least 25% of the value of its total assets at the time of purchase in securities of issuers conducting their principal business activities in the real estate industry.  The Fund may be subject to greater market fluctuations than a fund that does not concentrate its investments in a particular industry.  Financial, economic, business, and other developments affecting issuers in the real estate industry will have a greater effect on the Fund, and if securities of the real estate industry fall out of favor, the Fund could underperform, or its NAV may be more volatile than, funds that have greater industry diversification. 


High-Yield Securities Investments Risk.

 Investments rated below investment grade are commonly referred to as high-yield, high risk or “junk debt.” They are regarded as predominantly speculative with respect to the issuing company’s continuing ability to meet principal and/ or interest payments. Non-payment of scheduled interest and/or principal would result in a reduction of income to the Fund, a reduction in the value of the asset experiencing non-payment and a potential decrease in NAV of the Fund.


Illiquidity of Investments Risk.

 The investments made by the Fund may be illiquid, and consequently the Fund may not be able to sell such investments at prices that reflect the Investment Adviser’s assessment of their value or the amount originally paid for such investments by the Fund.


You should read the prospectus for the Offering, which contains important information about the Fund, including additional risk disclosure, before deciding whether to invest, and retain for future reference. The statement of additional information for the Offering has been filed with the U.S. Securities and Exchange Commission.  You may request a free copy of the statement of additional information, request the Fund’s most recent annual and semiannual reports or make shareholder inquiries by calling 866-351-4440 or by writing to the Fund at 200 Crescent Court, Suite 700, Dallas, Texas 75201.  You may also write AST Fund Solutions, NHF’s information agent for the rights offering, at 55 Challenger Road, Suite 201, Ridgefield Park, NJ 07660 or call (877) 283-0323.

Exercising your Rights and investing in the Fund’s common shares involves a high degree of risk and may be considered speculative. Before exercising your Rights and investing in the Fund’s common shares, you should read the discussion of the material risks of investing in the Fund in the prospectus for the Offering, including the risks of leverage and of investing in below investment grade/high yield securities, in “Principal Risks of the Trust.” Certain of these risks are summarized in “Prospectus Summary—Principal Risks of the Trust.”  Investors should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing.   Please read the prospectus, located at www.nexpointadvisors.com, carefully before you invest. 

MEDIA CONTACT: 
Lucy Bannon
lbannon@highlandcapital.com  
+1 972-419-6272

SHAREHOLDER INQUIRIES:
+1 866-351-4440

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SOURCE NexPoint Advisors, L.P.

John Hancock Hedged Equity & Income Fund And John Hancock Financial Opportunities Fund Release Earnings Data

John Hancock Hedged Equity & Income Fund And John Hancock Financial Opportunities Fund Release Earnings Data

PR Newswire

BOSTON, April 20, 2018 /PRNewswire/ — John Hancock Hedged Equity & Income Fund (NYSE: HEQ) and John Hancock Financial Opportunities Fund (NYSE: BTO) announced earnings1 for the three months ended March 31, 2018. The same data for the comparable three months ended March 31, 2017 is also available below. 


Three Months Ended 03/31/2018


Ticker


Fund Name


Current Fiscal Year End


Net Investment Income


Per Common Share


NAV


Total Managed Assets


Total Net Assets

HEQ

Hedged Equity & Income Fund

12/31

$2,105,415

$0.173

$16.93

$206,669,038

$206,669,038

BTO

Financial Opportunities Fund

12/31

$1,719,311

$0.092

$37.32

$806,422,646

*

$696,422,646


Three Months Ended 03/31/2017


Ticker


Fund Name


Current Fiscal Year End


Net Investment Income


Per Common Share


NAV


Total Managed Assets


Total Net Assets

HEQ

Hedged Equity & Income Fund

12/31

$1,604,700

$0.131

$17.16

$209,451,182

$209,451,182

BTO

Financial Opportunities Fund

12/31

$1,771,517

$0.095

$34.36

$749,892,403

*

$639,892,403

* Total managed assets include assets attributable to borrowings under a Liquidity Agreement.

Amounts distributed by the Funds may vary from the earnings shown above and will be announced in separate press releases. 

Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund’s control and could cause actual results to differ materially from those set forth in the forward-looking statements.

An investor should consider a Fund’s investment objectives, risks, charges and expenses carefully before investing.

About John Hancock Investments
John Hancock Investments provides asset management services to individuals and institutions through a unique manager-of-managers approach.  A wealth management business of John Hancock Financial, we managed more than $155 billion in assets as of December 31, 2017 across mutual funds, college savings plans, and retirement plans.

About John Hancock Financial and Manulife Financial
John Hancock Financial is a division of Manulife Financial, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife Financial in Canada and Asia, and primarily as John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were C$1 trillion (US$829 billion) as of December 31, 2018. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at manulife.com.

The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, annuities, fixed products, mutual funds, 401(k) plans, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.

1 Earnings refer to net investment income, which comprises the Fund’s interest and dividend income, less expenses.  Earnings presented represent past earnings and there is no guarantee of future results.

Cision View original content:http://www.prnewswire.com/news-releases/john-hancock-hedged-equity–income-fund-and-john-hancock-financial-opportunities-fund-release-earnings-data-300633948.html

SOURCE John Hancock Investments

Harvest ETFs April 2018 Distributions

Harvest ETFs April 2018 Distributions

Canada NewsWire

OAKVILLE, ON, April 20, 2018 /CNW/ - Harvest Portfolios Group Inc. (“Harvest”) announces the following distributions for Harvest ETF’s for the month ending April 30, 2018. The distribution will be paid on or about May 15, 2018 to unitholders of record on April 30, 2018 with an ex-dividend date of April 27, 2018.

Harvest has established a Distribution Reinvestment Plan (“DRIP”) for certain classes of Harvest ETFs, allowing investors to easily benefit from compounding their distributions on a monthly or quarterly basis, dependent on the payment frequency of an individual Harvest ETF. Certain Harvest ETFs listed on the Toronto Stock Exchange (TSX) are eligible for the Distribution Reinvestment Plan, provided that their investment dealer supports participation in the DRIP. Investors may opt into the DRIP by contacting their investment dealer, otherwise distributions will be paid in cash.


Harvest ETF


TSX Ticker


Distribution

Healthcare Leaders Income ETF

HHL

$0.0583 per unit

Healthcare Leaders Income ETF (US)

HHL.U

$0.0583 per unit

Brand Leaders Plus Income ETF

HBF

$0.0542 per unit

Brand Leaders Plus Income ETF (US)

HBF.U

$0.0542 per unit

Energy Leaders Plus Income ETF

HPF

$0.0300 per unit

Energy Leaders Plus Income ETF (US)

HPF.U

$0.0300 per unit

Tech Achievers Growth & Income ETF

HTA

$0.0583 per unit

Tech Achievers Growth & Income ETF (US)

HTA.U

$0.0583 per unit

Global REIT Leaders Income ETF

HGR

$0.0458 per unit

Harvest US Bank Leaders Income ETF

HUBL

$0.0833 per unit

Harvest US Bank Leaders Income ETF (US)

HUBL.U

$0.0833 per unit

Harvest European Leaders Income ETF

HEUR

$0.0833 per unit

Harvest Banks & Buildings Income ETF

HCBB

$0.0916 per unit

 

About Harvest Portfolios Group Inc.

Founded in 2009, Harvest Portfolios Group Inc. is a Canadian Investment Fund Manager which offers an innovative suite of exchange traded funds, mutual funds and publicly-listed structured products designed to satisfy the long-term growth and income needs of investors. We pride ourselves in creating trusted investment solutions that meet the expectations of our investors.

You will usually pay brokerage fees to your dealer if you purchase or sell units of the Fund(s) on the TSX. If the units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of the Fund(s) and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of an investment fund. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in these documents.

SOURCE Harvest Portfolios Group Inc.

View original content: http://www.newswire.ca/en/releases/archive/April2018/20/c3265.html