Flexible Investment Strategy

Public offering expected to close to new investors on or about September 30, 2017.

HMS Income Fund initially invests in the debt of existing middle-market companies to help provide immediate current income to you. As HMS Income Fund grows and opportunities arise, our sub-adviser, Main Street, will have the ability to rotate a portion of these investments (after the debt matures or is prepaid) into direct, self-originated new loans and equity investments to lower middle-market companies.1,2 This complementary strategy of allocating a portion of the portfolio to provide debt and equity capital to smaller private companies offers you the potential for current income and capital appreciation.3 There is no guarantee that this strategy will be successful.


1There is no guarantee that the experience of Main Street will translate into positive results for HMS Income Fund. Investors are not acquiring an interest in Main Street. The sub-adviser, MSC Adviser I, is a wholly-owned subsidiary of Main Street.

2There is no guarantee that HMS Income Fund will achieve its objectives.

3While HMS Income Fund’s investments are concentrated in over-the-counter debt securities of a limited number of issuers, HMS Income Fund will likely receive lower yields, which could result in a lower distribution than it has estimated and could magnify the effect of any losses suffered by a few of these investments.

4There is no guarantee that HMS Income Fund will be able to pay distributions; the amount distributions is uncertain. Additionally, there is no guarantee that HMS Income Fund will achieve its objectives. 

For more information, read the prospectus for HMS Income Fund. Copies of the prospectus may be obtained from Hines Securities, Inc., 2800 Post Oak Blvd., Suite 4700, Houston, Texas 77056 or by calling 888.446.3773. You should read the prospectus carefully in order to fully understand the objectives, risks, sales charges, fees and expenses of HMS Income Fund before investing or sending money.

You should be aware that the Fund, the Advisers, the Dealer Manager, Main Street and Hines and their respective officers, directors, employees and affiliates do not undertake to provide impartial investment advice or to give advice in a fiduciary capacity in connection with the Fund’s public offering of, or the purchase of, the Shares. In addition, as described elsewhere in this prospectus, each of the Advisers and the Dealer Manager has a financial interest associated with this offering of the Shares, including prospective fees, expense reimbursements and other payments they anticipate receiving from the Fund in connection purchases of the Shares. This prospectus is not intended as a recommendation to make an investment in the Shares, and investors should consult their financial advisors before making an investment decision.