What a difference a single word makes! A one-word error in the investment advisory contract between the $1 billion Highland Floating Rate Advantage Fund and Highland Capital Management of Dallas is causing a major headache for the niche registered investment advisor, which as of Sept. 30 managed a total of $18 billion in assets.

That seemingly minor but impactful error has prompted the fund's investment advisor to call a special meeting to ask shareholders of the interval fund to approve a corrective amendment to the contract. It is also seeking to allow the advisor to keep more than $944,000 it had improperly been earning since April 2004.

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