Update on Russian Investments in Fixed Income Portfolios

Neuberger Berman stands with the people of Ukraine and those who are supporting the refugees of this tragedy. Across Neuberger Berman, we have very limited exposure to Russian investments. While we generally prefer engagement to blanket divestment, given current circumstances, we will not invest directly in Russian securities or assets, and we will eliminate our very modest remaining exposures as we are able.

Simon Matthews

Simon Matthews, Managing Director, joined the firm in 2019.  Simon is a Senior Portfolio Manager for Non-Investment Grade Credit focusing on Global and European Non-Investment Grade portfolios. In addition, he sits on the Credit Committee for Non-Investment Grade Credit.  Previously, he has held roles in Portfolio Management and Investment Research at Standard Bank (ICBC), Citigroup and most recently BlueMountain Capital. Simon graduated from the University of Birmingham as a Bachelor of Mechanical Engineering and is a Chartered Accountant.

Joseph P. Lynch

Joseph Lynch, Managing Director, joined the firm in 2002. Joe is the Global Head of Non-Investment Grade Credit and a Senior Portfolio Manager for Non-Investment Grade Credit focusing on loan portfolios. In addition, he sits on the Credit Committee for Non-Investment Grade Credit and serves on Neuberger Berman’s Partnership Committee. Joe was a founding partner of LightPoint Capital Management LLC, which was acquired by Neuberger Berman in 2007. Prior to joining LightPoint, he was employed at ABN AMRO where he was responsible for structuring highly leveraged transactions. Joe earned a BS from the University of Illinois and an MBA from DePaul University.

Norman Milner
Norman Milner, Managing Director, joined the firm in 2015. He is Senior Portfolio Manager on the Multi Sector Fixed Income strategies. Prior to this he was the Head of the Global Credit Long/Short team. where he had research coverage responsibility for emerging markets and sovereign credits. Previously, Norman was a managing director and co-portfolio manager for the Ramius Global Credit Funds. He joined Ramius in September 2008. Norman was formerly a partner, portfolio manager and head of trading at Arx Investment Management from 2006 through 2008. Before that, he worked at Trident Investment Management LLC as a portfolio manager for the macro hedge fund in New York from 1999 to 2006. From 1996 to 1999, Norman was the head derivative trader at Morgan Stanley in New York and London. Preceding that, he worked at Investec Bank and Price Waterhouse in Johannesburg, South Africa. He is a member of the Montefiore Board of Trustees. Norman holds an undergraduate degree in Commerce and a postgraduate degree in Accountancy from the University of the Witwatersrand in Johannesburg.
Pieter D'Hoore
Pieter D'Hoore, Managing Director, joined the firm in 2018 as Head of European Private Debt. Prior to joining Neuberger Berman, Pieter was heading Private Debt at NN (formerly known as ING Insurance). Previously, Pieter held several roles in portfolio management and fixed income structuringat ING. He started his career as a trader at Delta Lloyd Securities. Pieter graduated from the University of Leuven as a Master in International Politics and a Postgraduate in Business Economics. He earned a Master in Financial Economics from the Leuven School of Business Economics.
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Introduction to NBMI
Introduction to Neuberger Berman Global Monthly Income Fund
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Asset Allocation Committee Outlook:
Regime Change
While we do not anticipate a recession over the next 12 months, the prospect of slowing growth and stubborn inflation has led us to downgrade our view on equities, and prepare for a new regime in which real assets could generally perform better than financial assets such as stocks and bonds.
Fixed Income Investment Outlook:
Investing Through Inflation and Growth Uncertainty
Recession seems unlikely this year—opening up opportunities in credit.
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as of 27/06/2022
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as of 23/06/2022
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as of 31/05/2022
Last Dividend Per Share
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as of 27/06/2022
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as of 27/06/2022
Investment Portfolio
NBMI aims to provide its shareholders with consistent levels of monthly income, while maintaining or increasing the Net Asset Value per Share over time.