Neuberger Berman to launch European High Yield fund for Wilmont

Neuberger Berman is to launch a European High Yield bond fund for recent hire Andrew Wilmont, as it bids to replicate the success of its $13bn (£8bn) US offering.

The Dublin-domiciled Neuberger Berman European High Yield fund will launch later this month, as a diversified portfolio of around 75 names investing primarily in European industrials. The fund will also have some flexibility to consider banks and retailers. The fund will be managed by Wilmont, Martin Rotheram and Dan Doyle, with input from other new hires Ian Bates and Laura Maedler. Neuberger Berman said it intends to assemble one of the largest European high yield teams in the industry, and is planning to hire two further analysts in London to complement a team of 18 in its headquar...