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New Highland Dividend Equity Fund emphasizes dividend-paying stocks
By Toni Weeks
San Diego, Nov. 7 - Highland Funds Asset Management, LP has launched the Highland Dividend Equity Fund, according to a press release.
The fund will seek to provide above-average dividend yields with the potential for long-term capital gains. The strategy employed will not be limited to a certain style or market capitalization but will target high-quality stocks offering attractive valuations with below-market risk profiles and will avoid making large-sector bets or concentrations in individual names. Stocks from all 10 economic sectors defined by Standard & Poor's will comprise the portfolio. Initial seed funding is expected to exceed $15 million.
Dallas-based Brookmont Capital Management, LLC will serve as the fund's subadviser.
"We believe investors should be compensated for staying invested in the market, and dividend-paying stocks accomplish this by rewarding investors as well as providing the additional opportunity for capital appreciation," Brookmont co-founder and portfolio manager Neal Scott said in the release.
Robert Bugg, a co-founder at Brookmont and portfolio manager of the fund, also commented on the importance of dividends.
"There are many different reasons why an investor might want to be in this product. It's attractive to various types of clients, whether a nonprofit organization, a businessperson or a retiree. With bond yields being as low as they are, people have embraced dividend-paying stocks as a great way to increase income from their investment portfolio."
Highland Funds provides diverse and alternative fund strategies distributed through financial intermediaries and is based in Dallas.
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