The Miller/Howard High Income Equity Fund (Symbol HIE)

Our closed-end fund seeks high current income and long-term capital appreciation by investing in high-income equities strategically allocated across multiple sectors and industries focusing on high current income, growth on income and lower volatility.

The Fund has a 10 year term limit. It will terminate on November 24, 2024 unless the Board of Trustees determines that it is in the best interests of the shareholders to extend the term limit for one year or if shareholders vote to shorten or extend the life of the Fund. Upon termination of the Fund, shareholders will receive the NAV per share.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. You can obtain more information about the Fund by calling a sales representative at 845.679.9166.

Fund Risks
The market price of equity securities may be affected by financial market, industry, or issuer-specific events. Focus on a particular style or on small or medium-sized companies may enhance that risk.

The Miller/Howard High Income Equity Fund is a closed-end fund traded on the New York Exchange (Symbol HIE). Shares must be purchased through a professional financial advisor.

There is no guarantee that the portfolio will meet its objective.

Shares of closed-end investment companies such as the Fund may trade in the market above, at, or below net asset value. This characteristic is a risk separate and distinct from the risk that the Fund’s net asset value could decline. The Fund is not able to predict whether its shares will trade above, below, or at net asset value in the future.

Leverage Risk. The use of leverage, which can be described as exposure to changes in price at a ratio greater than the amount of equity invested magnifies both the favorable and unfavorable effects of price movements in the investments made by the Fund. The Fund’s use of leverage in its investment operations subjects it to substantial risk of loss.

© 2018 Miller/Howard High Income Equity Fund