Sector Allocation - HTXAX
as of 05/31/2013
| Basic Materials | -- | |
|---|---|---|
| Consumer Cyclical | -- | |
| Financial Services | -- | |
| Real Estate | -- | |
| Consumer Defensive | -- | |
| Healthcare | -- | |
| Utilities | -- | |
| Communication Services | -- | |
| Energy | -- | |
| Industrials | -- | |
| Technology | -- |
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HTXAX:NASDAQ
Highland Tax-Exempt Fund Class A – HTXAX Fund Overview
| Last Price | Today's Change | 52-Week Range | Trading Volume |
|---|---|---|---|
| 11.97 | 0.00 (0.00%) | 11.96 - 12.52 | 0.0 |
Market data as of 12:00AM 06/17/13. Quotes are delayed by at least 15 min.
Overview - HTXAX
The investment seeks as high a level of income exempt from federal income taxation as is consistent with preservation of capital. The fund seeks to achieve its investment objective by investing primarily in investment-grade municipal obligations. Under normal circumstances, the portfolio manager manages the fund so that at least 80% of the fund's income is exempt from both regular federal income taxes and the federal alternative minimum tax. It generally will have an effective duration of 75% to 125% of the duration of the Barclays Capital 10-Year Municipal Bond Index.
Growth of $10,000 (10 Years)
| Total Return | 4.38% |
|---|---|
| Yield (Trailing 12 Mo.) | 2.52% |
| Expense Ratio | 1.18% |
| Front Load | 4.25% |
| Deferred Load | None |
| Minimum Investment | $1,000 |
| Management Tenure | 13 Years |
| Fund Inception | 09/08/1993 |
Trailing Total Returns - HTXAX
as of 05/31/2013
| Timeframe | HTXAX | S&P 500 | Muni National Interm |
|---|---|---|---|
| 1 Month | -1.65% | 2.34% | -1.31% |
| 3 Month | -1.01% | 8.22% | -0.81% |
| Year-to-Date | -0.60% | 15.37% | -0.13% |
| 1 Year | 1.67% | 27.28% | 2.32% |
| 3 Year | 3.91% | 16.87% | 4.62% |
| 5 Year | 4.42% | 5.43% | 4.79% |
| 10 Year | 3.26% | 7.58% | 3.69% |
| Since Inception | 4.38% | 10.42% | -- |
Asset Allocation - HTXAX
as of 05/31/2013
| By Percent | Short | 0% | Long | Net | |
|---|---|---|---|---|---|
| Stock | -- | 0.00 | 0.00 | ||
| Bond | -- | 95.26 | 95.26 | ||
| Other | -- | 0.00 | 0.00 | ||
| Foreign Stock | -- | 0.00 | 0.00 | ||
| Foreign Bond | -- | 0.00 | 0.00 | ||
| Total | -- | 95.26 | 95.26 | ||
| Cash | -- | 4.74 | 4.74 | ||
| Total Net Assets | $34.27M |
|---|---|
| Total Stock Holdings | 0 |
| Total Bond Holdings | 58 |
Top Ten Holdings - HTXAX
as of 05/31/2013
| Company | YTD Return | % of Assets |
|---|---|---|
| Missouri St Hwys & Trans Commn Tax Ex 5% | -- | 5.28% |
| Los Angeles Calif Hbr Dept Rev Ref Bd 5% | -- | 3.90% |
| Hawaii St Arpts Sys Rev Rev Bds 5.25% | -- | 3.88% |
| California St Dept Wtr Res Cen Rev Bd 5% | -- | 3.62% |
| Fairfield Conn Go Ref Bd 5% | -- | 3.56% |
| New York St Urban Dev Corp Rev Svc 5.5% | -- | 3.49% |
| Municipal Elec Auth 5.25% | -- | 3.45% |
| Georgetown Cnty S C Sch Dist 5% | -- | 3.43% |
| Montgomery Cnty Md Go Cons P 5% | -- | 2.71% |
| Texas St G O Mobil 5% | -- | 2.38% |
Valuation & Growth - HTXAX
as of 05/31/2013
| Valuation | HTXAX | Category Range |
|---|---|---|
| Price/Earnings | -- | |
| Price/Book | -- | |
| Price/Sales | -- | |
| Price/Cash Flow | -- | |
| Dividend Yield | ||
| LT Earnings | ||
| Historical Earnings | ||
| Sales Growth | ||
| Cash-Flow Growth | ||
| Book-Value Growth |
Key: Lo Hi
Morningstar Summary - HTXAX, 3 Year
| Rating | vs Category | |
|---|---|---|
| Overall |  | |
| Risk | Avg | |
| Return | Low |
Key: Lo Hi
Tax Analysis - HTXAX, 3 Year Avg
| Pretax Return | 3.91% |
|---|---|
| Tax-adjusted Return | 2.42% |
| Tax Cost Ratio | 0.00% |
| Potential Cap Gains | 6.68% |
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