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NB Global Floating Rate Income Fund

NB Global Floating Rate Income Fund Portfolio Update

The NB Global Floating Rate Income Fund Limited (LON: NBLS) 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 29th November 2019:

NAVGBP 94.11
 USD 96.81
Current Portfolio Yield*5.41%
Number of Investments268
Number of Issuers205

The Portfolio, as at 29th November 2019 (excluding cash):

· was split 93.78% USD, 4.72% EUR, 1.50% GBP

· had 6.45% allocated to bonds out of the maximum 20% allowable

· was invested primarily in B (62.98%) and BBB/BB (31.40%) rated investments.

NB Global Floating Rate Income Fund 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 23 countries, Neuberger Berman’s team is more than 2,100 professionals and the company was named by Pensions & Investments as a “Best Place to Work in Money Management” for five consecutive years. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking.

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