Say goodbye to the Highland Equity Opportunities Fund. On Monday Highland Capital Management revealed that the mutual fund has been renamed Highland Long/Short Equity Fund.The two-year-old fund offers A, C and Z class shares and held over $16.1 million, as of Monday. Highland offered no explanation for the rebranding.

Separately, the St. Louis Post-Dispatch's Tim Barker reports that the Friday bankruptcy filing of cable provider Broadstripe might affect Highland, as the Dallas-based asset manager is listed as Broadstripe's "largest unsecured creditor ... with a claim of $331.1 million."

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Company Press Release

Highland Capital Management, L.P. ("Highland") today announced that, effective December 29, 2008, the name of Highland Equity Opportunities Fund has changed to Highland Long/Short Equity Fund.

About Highland Long/Short Equity Fund

The Highland Long/Short Equity Fund (the "Fund") is a non-diversified portfolio of securities that seeks to maximize return while controlling risk. The Fund seeks to provide consistent, above-average total returns primarily through capital appreciation, while also attempting to preserve capital and mitigate risk through hedging activities. The Fund's shares are listed on Nasdaq under the symbols "HEOAX", "HEOCX" and "HEOZX". An investment in the Fund is not appropriate for all investors. No assurance can be given that the Fund will achieve its investment objectives.

Highland, the Fund's investment adviser, is a registered investment adviser specializing in credit, equity and alternative investment strategies. Headquartered in Dallas, Texas, Highland manages assets on behalf of investors around the world with offices in New York, Singapore, and London.

Past performance does not guarantee future results. 

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