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RNS Number : 8194Q
NB Global Floating Rate Income Fund
15 September 2017
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR
INDIRECTLY, TO U.S. PERSONS OR INTO OR IN THE UNITED STATES,
AUSTRALIA, CANADA OR JAPAN.
NB Global Floating Rate Income Fund
Portfolio Update
15 September 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) August 2017:
NAV GBP 96.89
-------------------------- ----------
USD 98.53
-------------------------- ----------
Current Portfolio Yield* 4.58%
-------------------------- ----------
Number of Investments 362
-------------------------- ----------
Number of Issuers 274
-------------------------- ----------
The Portfolio, as at 31(st) August 2017 (excluding cash):
-- was split 90.43% USD, 8.03% EUR, 1.54% GBP
-- had 7.78% allocated to bonds out of the maximum 20% allowable
-- was invested primarily in B (43.81%) and BBB/BB (49.80%) rated investments(1)
To access the August 2017 Factsheet, please click
http://www.rns-pdf.londonstockexchange.com/rns/8194Q_-2017-9-14.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
This document is issued by Neuberger Berman Europe Limited
("NBEL") which is authorised and regulated by the UK Financial
Conduct Authority ("FCA") and is registered in England and Wales,
at Lansdowne House, 57 Berkeley Square, London, W1J 6ER and is also
a Registered Investment Adviser with the Securities and Exchange
Commission ("SEC") in the U.S. and regulated by the Dubai Financial
Services Authority.
The Company ("NB Global Floating Rate Income Fund Limited")
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. This document is only directed at: (a)
persons outside the European Economic Area ("EEA") to whom it is
lawful to communicate, (b) persons in member states of the EEA who
are "qualified investors" within the meaning of Article 2(1)(e) of
the Prospectus Directive (Directive 2003/71/EC) ("Qualified
Investors") and to whom this document may lawfully be communicated;
(c) persons in the United Kingdom who are Qualified Investors and
who (i) have professional experience in matters relating to
investments so as to qualify them as "investment professionals"
under Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order"); or (ii) fall within
Article 49(2)(a) to (d) of the Order; or (d) other persons to whom
it may otherwise lawfully be communicated (all such persons
referred to in (a), (b), (c) and (d) together being "Relevant
Persons"). Any investment or investment activity to which this
document relates is available only to and will only be engaged in
with such persons. This document must not be acted on or relied on
(i) in the United Kingdom, by persons who are not Relevant Persons,
and (ii) in any member state of the European Economic Area other
than the United Kingdom, by persons who are not Qualified
Investors.
Further, this document is not for release, publication or
distribution, directly or indirectly, in whole or in part, to US
Persons (as defined in Regulation S under the US Securities Act of
1933) or into the United States, Australia, Canada, Japan or any
other jurisdiction where to do so would constitute a violation of
the relevant laws or regulations of such jurisdictions. The
information provided in this material should not be considered a
recommendation to buy, sell or hold any particular security.
Prospective investors are advised to seek expert legal, financial,
tax and other professional advice before making any investment
decision. 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 and prospective investors should not subscribe or purchase
securities described in this document on the basis of the
information in this document. 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. The information contained in this
document will not be updated. This document describes past
performance, which may not be indicative of future results. No
representation or warranty is given to the achievement or
reasonableness of future projections, management targets,
estimates, prospects or returns, if any. Each of NBGFRIF, Neuberger
Berman Europe Limited and Neuberger Berman Investment Advisers LLC
and their affiliates and their respective officers, employees or
agents expressly disclaims any and all liability which may be based
on this document and any errors therein or omissions therefrom.
This report includes candid statements and observations regarding
investment strategies, individual securities, and economic and
market conditions; however, there is no guarantee that these
statements, opinions or forecasts will prove to be correct. These
comments may also include the expression of opinions that are
speculative in nature and should not be relied on as statements of
fact. The views and opinions expressed herein include
forward-looking statements which may or may not be accurate over
the long term. Forward-looking statements can be identified by
words like "believe", "expect", "anticipate", or similar
expressions. You should not place undue reliance on forward-looking
statements, which are current as of the date of this report. We
disclaim any obligation to update or alter any forward-looking
statements, whether as a result of new information, future events
or otherwise. While we believe we have a reasonable basis for our
appraisals and we have confidence in our opinions, actual results
may differ materially from those we anticipate. 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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