Neuberger Berman has launched a fund investing primarily in collateralised loan obligations (CLO) mezzanine debt securities, with a focus on providing income, amid "significant interest from clients", Investment Week can reveal.
The Dublin-domiciled UCITS fund aims to generate a positive risk-adjusted return relative to comparably-rated corporates with minimal duration by investing primarily in US dollar and euro-denominated floating rate CLO mezzanine debt securities, as well as US high yield securities. How research into CLOs can be 'handsomely rewarded' Managed by Pim van Schie, Joseph Lynch and Stephen Casey, senior portfolio managers in Neuberger Berman's $43bn non-investment grade and structured credit team, the Neuberger Berman CLO Income fund has launched with around £60m of seed investment and will t...
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