DEF 14A: Highland Global Allocation Fund to Hold Annual Shareholder Meeting on June 26, 2024

Highland Global Allocation Fund announces its annual shareholder meeting to be held on June 26, 2024, to elect a Class III Trustee and discuss other business matters.

Summary

• Highland Global Allocation Fund will hold its Annual Meeting of Shareholders on June 26, 2024, in Dallas, Texas.
• The primary purpose of the meeting is to elect John Honis as a Class III Trustee for a three-year term expiring at the 2027 Annual Meeting.
• Shareholders as of the record date of May 10, 2024, are entitled to vote.
• The Board of Trustees recommends a vote FOR the proposal to re-elect John Honis.
• Proxy materials are available online and can be requested by calling Morrow Sodali Fund Solutions.
• The Fund has engaged Morrow Sodali Fund Solutions for shareholder meeting services at an approximate cost of $38,000.
• As of the Record Date, 22,855,212 shares of the Funds common shares were issued and outstanding.

Sentiment

Score: 7

Explanation: The document is a standard proxy statement, which is generally neutral in tone. The Board's recommendation to vote for the proposal adds a slightly positive element.

Positives

• The Board of Trustees is actively engaged in overseeing the management and operations of the Fund.
• The Board has structured itself to perform its oversight function effectively, with a majority of Independent Trustees.
• The Audit Committee and Governance and Compliance Committee are chaired by Independent Trustees.
• The Fund encourages, but does not require, Trustees to attend the Annual Meeting.
• The Board completes an annual self-assessment during which it reviews its leadership and Committee structure and considers whether its structure remains appropriate in light of the Funds current operations.

Risks

• The Fund may not be given the opportunity to participate in certain investments made by investment funds, accounts or other investment vehicles managed by the Adviser or its affiliates.
• The Board recognizes that not all risks that may affect the Fund can be identified, that it may not be practical or cost-effective to eliminate or mitigate certain risks, that it may be necessary to bear certain risks (such as investment-related risks) to achieve the Funds goals, that reports received by the Trustees with respect to risk management matters are typically summaries of the relevant information, and that the processes, procedures and controls employed to address risks may be limited in their effectiveness.

Future Outlook

The Trustees do not intend to present any other business at the Annual Meeting nor are they aware that any shareholder intends to do so. If, however, any other matters are properly brought before the Annual Meeting, the persons named in the accompanying proxy will vote thereon in accordance with their judgment.

Management Comments

• Frank Waterhouse, Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer and Treasurer, encourages shareholders to vote their shares.
• The Board of Trustees recommends a vote FOR the Proposal.

Industry Context

This is a standard proxy statement for a registered investment company, outlining the details of the upcoming annual meeting and the matters to be voted on by shareholders. Such filings are common in the investment management industry to ensure transparency and shareholder participation in key decisions.

Comparison to Industry Standards

• The structure of the Board, with a majority of independent trustees and dedicated committees, aligns with industry best practices for fund governance.
• The disclosure of fees paid to the independent registered public accounting firm and the Audit Committee's oversight are standard practices for registered investment companies.
• The information provided regarding beneficial ownership of shares is consistent with regulatory requirements and industry norms.

Related Party Transactions

• The Fund has entered into an investment advisory agreement with NexPoint Asset Management, L.P., where the Adviser provides investment advisory services in exchange for a fee.
• The Fund has an administration agreement with SEI Investments Global Funds Services (SEI), and pays SEI a fee for administration services.
• The Adviser has entered into a Services Agreement with Skyview Group (Skyview), pursuant to which the Adviser will receive administrative and operational support services to enable it to provide the required advisory services to the Fund.

Stakeholder Impact

• Shareholders have the opportunity to vote on the election of a Trustee and influence the governance of the Fund.
• The Fund's service providers, including the Adviser, SEI, and Skyview, are compensated for their services.
• The Fund's performance and governance impact the value of shareholder investments.

Next Steps

• Shareholders should review the proxy materials and vote on the proposal.
• The Fund will hold its Annual Meeting on June 26, 2024.
• The Board will consider any other matters properly brought before the Annual Meeting.

Key Dates

Keywords

Annual Meeting, Shareholders, Trustee Election, Proxy Statement, Highland Global Allocation Fund, Investment Company