NexPoint Real Estate Strategies Fund

Investing Across Multiple Real Estate Sectors

NexPoint Real Estate Strategies Fund is a continuously offered, non-diversified, closed-end management investment company. The Fund operates as an interval fund, which is a type of closed-end fund, and is sponsored by NexPoint Advisors, L.P., an affiliate of Highland Capital Management, L.P. Highland is an institutional investment firm with approximately $10 billion in assets under management as of September 30, 2018, and one of the largest and most experienced global alternative credit and equity managers.

The Advisor’s management team has extensive real estate experience, having completed over $5.2 B of real estate transactions since 2014. At the end of first quarter 2015, an affiliate of the Advisor completed a public listing of its $1B value-add multifamily portfolio under the ticker symbol “NXRT” on the New York Stock Exchange.

Highland Capital Fund Distributors, Inc., member FINRA, is the dealer manager for the NexPoint Real Estate Strategies Fund offering.

An investment in the Fund is subject to fees and expenses. You should read the prospectus carefully to fully understand the objectives, risks, sales charges, and fees and expenses before investing or sending money.

 

1The NAV is based on the initial anticipated offering price as the Fund had not, as of today, issued Class L Shares.

*Inception date of the Fund is July 1, 2016. Class A and C share Inception to Date (ITD) is as of 7/21/2016; Class Z share ITD is as of 7/1/2016. ITD returns are annualized as of 5/31/2018.

**Distributions are not guaranteed and may be suspended, modified or terminated at the discretion of the board of directors. The distribution is calculated by taking the sum of a fund’s total trailing 12-month interest and dividend payments divided by the last month’s ending share price (NAV) plus any capital gains distributed over the same period. Source: Morningstar Direct. The distributions were paid from income, and not a return of capital.

The performance data quoted here represents past performance and is no guarantee of future results.Investment returns and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For performance data current to the most recent month-end, please visit the performance section of our website.

Before investing in the Fund, you should carefully consider the Fund’s investment objectives, risks, charges and expenses. For a copy of a prospectus which contains this and other information, please visit our website at www.nexpointres.com or call 1-877-665-1287. Please read the fund prospectus carefully before investing.

An investment in the Fund involves a considerable amount of risk. It is possible that you may lose money, including the risk that you may receive little or no return on your investment or that you may lose part or all of your investment. Consequently, you can lose money by investing in the Fund. No assurance can be given that the Fund will achieve its investment objective, and investment results may vary substantially over time and from period to period. An investment in the Fund is suitable only for investors who can bear the risks associated with the limited liquidity of the shares and should be viewed as a long-term investment. Before making your investment decision, you should (i) consider the suitability of this investment with respect to your investment objectives and personal financial situation and (ii) consider factors such as your personal net worth, income, age, risk tolerance and liquidity needs. An investment in the Fund is not appropriate for all investors.

Performance results reflect the contractual waivers and/or reimbursements of fund expenses by the Advisor. Absent this limitation, performance results would have been lower. The Advisor has contractually agreed to waive its fees and to pay or absorb the ordinary annual operating expenses of the Fund (including organizational and offering expenses, but excluding distribution fees, interest, dividend expenses on short sales, brokerage commissions and other transaction costs, acquired fund fees and expenses, taxes, litigation expenses and extraordinary expenses), (the “Expense Limitation”). If the Fund incurs expenses excluded from the Expense Limitation Agreement, the Fund’s expense ratio would be higher and could exceed the Expense Limitation. The Expense Limitation Agreement may not be amended or terminated for one year from May 1, 2019, unless approved by the Board.

RISK FACTORS

Fund NAV1 As of 11/13/2018
Share Class Ticker CUSIP Gross Expense Ratio Net Expense Ratio NAV Since Inception*
Class A NRSAX 65342M101 4.28% 2.59% $20.14 7.72%
Class C NRSCX 65342M200 4.58% 3.46% $20.24 7.30%
Class L NRSLX 65342M408 4.63% 2.96% $0.00 0.00%
Class Z NRSZX 65342M309 4.13% 2.46% $20.25 8.05%
Distributions as of 10/30/2018**
Share Class Payable Date Amount NAV
Class A 10/31/2018 $0.106176 $20.54
Class C 10/31/2018 $0.094013 $20.65
Class Z 10/31/2018 $0.110565 $20.65

Record Date: 10/29/2018

View Distribution History

News

Reuters | New interval funds offer alternative investments to retail investors

US credit managers are raising new interval funds which give retail investors access to alternative assets that can offer better returns than more traditional mutual fund holdings. Managers including OppenheimerFunds in partnership with Carlyle Group, and Flat Rock Global have registered to raise interval funds in the last year, according to regulatory filings. “There’s a trend towards interval funds as a new solution of bringing…

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