Highland Capital Management had the honors of ringing the Nasdaq closing bell to celebrate the listing of its iBoxx Senior Loan ETF, in October 2016. The event was held at the Nasdaq MarketSite in Times Square. Mark Okada, Co-founder and Chief Investment Officer of the investment banking firm was present to ring the bell. Senior Loan ETF is managed by the firm’s affiliate, Highland Capital Management Fund Advisors. It’s one of their funds that provide results and opportunities based on index and measurements.
As of March 27th, 2017, the market price of iBoxx Senior Loan ETF (SNLN) is $18.52 per share and Fund AUM’s total net assets is estimated $474 million. Highland Capital offers their investors fund results that parallel to the price and yield performance of the Liquid Leverage Loan Index. The opportunities in senior bank loans are rules based on index; the most liquid leveraged loans; and active market participants and face dollar amount measures. Other opportunities include eligible loans for underlying index measured by its credit rating, liquidity, size, type, maturity, and spread. Highland also manages other types of funds, including alternative, exchange trade, equity, asset allocations, and fixed income.
Highland Capital Management is registered with Securities Exchange Commission and manages more than $15 billion in assets. The firm is one of the top investment firms in the nation specializing in credit hedge funds, distressed private equity, and collateralized loan obligations. Highland was founded as Protective Life Insurance by investment managers and partners, Mark Okada and James Dondero, in 1990. The firm was the first to launch non-bank collaterized loan obligations (CLOs), six years after the firm was established. During the time, Highland structured and monitored more than 39 CLOs valued at $32 billion in assets.
James Dondero serves as the President and Chief Executive Officer for Highland Capital Management. Mark Okada is co-portfolio manager of the Highland Floating Rate Opportunities Funds which received the 2016 Lipper Fund Awards. The Thomson Reuters Awards Program named the fund the best 5-year loan participation fund.