HFRO: Resilient Real Estate Fund But Struggling In High Interest Rate Environment

2026-01-25 22:25:40 ET

Overview

When I previously covered Highland Opportunities and Income Fund ( HFRO ), I issued a hold rating due to the challenging macroenvironment. Since my last coverage, the Fed has initiated interest rate cuts, and this has created the expectation for lower interest rates over the next twelve months. Therefore, I wanted to revisit the fund's overall value proposition and ability to navigate challenging conditions going forward. The fund primarily focuses on real estate securities, which has been a sector that continues to lag behind the rest of the market....

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