Managed by NexPoint Asset Management, the closed-end fund focuses on generating capital growth and income. Its portfolio strategy spans a diverse range of instruments, including real estate investment trusts (REITs), mezzanine debt, corporate bonds, and distressed securities. The Fund also utilizes derivatives and floating-rate loans as part of its broader investment approach.

Investors are encouraged to review the fund's prospectus for details on risks, charges, and expenses before committing capital. The distribution may include a return of capital, and shareholders should consult the Section 19(a)-1 notices on the NexPoint website for source estimates. As with all closed-end investment vehicles, HFRO shares may trade at a discount to their net asset value, and past performance does not serve as a guarantee of future financial results.