Managed by NexPoint Asset Management, the closed-end fund focuses on a blend of capital growth and income. Its portfolio strategy involves direct and indirect investment in real estate-linked securities, such as REITs and mezzanine debt, alongside a diverse array of fixed-rate loans, corporate bonds, and distressed assets. The fund also utilizes derivatives to gain exposure to various market instruments.

Investors should note that distributions may include a return of capital, and the fund's actual performance remains subject to market volatility. As a closed-end investment company, HFRO shares often trade at a discount to their net asset value, and the fund is intended primarily for long-term holding rather than short-term trading. Prospective investors are encouraged to review the prospectus and annual reports available through the NexPoint website or the SEC to understand the risks associated with high-yield securities and real estate industry exposure.