NB Global Floating Rate Income Fund Portfolio Update - 31 December 2016 (2917U)
January 17 2017 - 2:00AM
UK Regulatory
TIDMNBLS TIDMNBLU
RNS Number : 2917U
NB Global Floating Rate Income Fund
17 January 2017
NB Global Floating Rate Income Fund
Portfolio Update
17 January 2017
The NB Global Floating Rate Income Fund Limited targets income
generation whilst seeking to preserve investors' capital and give
protection against rising interest rates.
The Fund's managers seek to generate this yield by investing in
a global portfolio of below investment grade senior secured
corporate loans with selective use of senior secured bonds,
diversified by both borrower and industry. The Fund is managed by
four experienced portfolio managers backed by what we believe to be
one of the largest and most experienced credit teams in the
industry.
Key statistics, as at 31(st) December 2016:
NAV GBP 97.87
-------------------------- ----------
USD 98.81
-------------------------- ----------
Current Portfolio Yield* 4.54%
-------------------------- ----------
Number of Investments 301
-------------------------- ----------
Number of Issuers 234
-------------------------- ----------
The Portfolio, as at 31(st) December 2016 (excluding cash):
-- was split 93.48% USD, 5.28% EUR, 1.24% GBP
-- had 3.40% allocated to bonds out of the maximum 20% allowable
-- was invested primarily in B (40.60%) and BBB/BB (52.30%) rated investments(1)
To access the Q4 2016 Factsheet, please click below.
http://www.rns-pdf.londonstockexchange.com/rns/2917U_1-2017-1-16.pdf
The Fund's website can be found at the following address:
www.nbgfrif.com.
1. Source: Standard & Poor's
* The Fund's Current Portfolio Yield is a market-value weighted
average of the current yields of the holdings in the portfolio,
calculated as the coupon (base rate plus spread) divided by current
price. The calculation does not take into account any fees, fund
expenses or sales charges paid, which would reduce the results. The
Current Yield for the Fund will fluctuate from month to month. The
Current Yield should be regarded as an estimate of the Fund's rate
of investment income, and it may not equal the realized
distribution rate for each share class. You should consult the
Fund's prospectus for additional information about the Fund's
dividends and distributions policy. Past performance is no
guarantee of future results.
-ENDS-
For media and analyst enquiries please contact:
Neustria Partners
Nick Henderson/Rob Bailhache/Charles Gorman +44 (0)20 3021 2580
Background Information
The Company is a registered closed-ended investment company
incorporated in Guernsey. It is managed by Neuberger Berman Europe
Limited, which has delegated certain of its responsibilities and
functions to the sub-investment manager, Neuberger Berman
Investment Advisers LLC, both of which are indirect wholly owned
subsidiaries of Neuberger Berman Group LLC. The Company's
investment objective is to provide its shareholders with regular
dividends, at levels that are sustainable, whilst seeking to
preserve investors' capital and give protection against rising
rates. To pursue its investment objective, the Company invests
mainly in floating rate senior secured loans issued in U.S.
Dollars, Sterling, and Euros by primarily North American and
European Union corporations, partnerships and other business
issuers.
Founded in 1939, Neuberger Berman is a private, independent,
employee-owned investment manager. The firm manages equities, fixed
income, private equity and hedge fund portfolios for institutions
and advisors worldwide. With offices in 19 countries, Neuberger
Berman's team is approximately 2,000 professionals and the company
was named by Pensions & Investments as a "Best Place to Work in
Money Management" for three consecutive years. Tenured, stable and
long-term in focus, the firm fosters an investment culture of
fundamental research and independent thinking.
Non-Mainstream Pooled Investments
The Company confirms that it conducts its affairs, and intends
to continue to conduct its affairs, so that the Company's shares
will be excluded securities under these rules and will therefore be
excluded from the FCA's restrictions which apply to non-mainstream
investment products.
This document is intended only for the person to whom it has
been delivered. No part of this document may be reproduced in any
manner without the written permission of NB Global Floating Rate
Income Fund Limited ("NBGFRIF"). The securities described in this
document may not be eligible for sale in some states or countries
and it may not be suitable for all types of investors. Securities
in the fund may not be offered or sold directly or indirectly into
the United States or to U.S. Persons. Prospective investors are
advised to seek expert legal, financial, tax and other professional
advice before making any investment decision. The price of
investments may fall as well as rise and investors may not get back
the full amount invested. The target yield should not be taken as
an indication of the Fund's expected future performance or results.
The target yield is a target only and there is no guarantee that it
can or will be achieved and it should not be seen as an indication
of the Fund's actual or expected return. Statements contained
herein, including without limitation, statements regarding the
credit markets, are based on current expectations, estimates,
projections, opinions and/or beliefs of the managers. Such
statements involve known and unknown risks, uncertainties and other
factors, and undue reliance should not be placed thereon. Such
statements are necessarily speculative in nature, as they are based
on certain assumptions. It can be expected that some or all of the
assumptions underlying such statements will not reflect actual
conditions. Accordingly, there can be no assurance that any
projections, forecast or estimates will be realized. This document
is not intended to be an investment advertisement or sales
instrument; it constitutes neither an offer nor an attempt to
solicit offers for the securities described herein. This document
was prepared using the financial information available to NBGFRIF
as at the date of this document. This information is believed to be
accurate but has not been audited by a third party. This document
describes past performance, which may not be indicative of future
results. NBGFRIF does not accept any liability for actions taken on
the basis of the information provided in this document. Neuberger
Berman is a registered trademark.
(c) 2017 Neuberger Berman.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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