Highland Global Allocation Fund (the Fund) is a closed-end management investment company. The Fund's investment objective is to provide long-term growth of capital and future income by investing in a portfolio of United States and foreign equity, debt and money market securities. Equity securities in which the Fund may invest include common stock, preferred stock, securities convertible into common stock, rights and warrants or securities or other instruments. The Fund may also invest in debt securities of any kind as well as senior loans to domestic or foreign corporations, partnerships and other entities.