Neuberger Berman to wind down £178m NB Global Monthly Income fund

NAV set to fall below £150m threshold

The board of the Neuberger Berman Global Monthly Income fund plans to wind-down the portfolio due to shrinking assets, it said in a London Stock Exchange announcement today (21 November).

Following a review of the company's strategy and future prospects, the board has decided not to implement its semi-annual cash exit facility in December and instead request approval by shareholders to place the trust into a managed wind-down. The board previously announced in September 2020 that if the trust's NAV dropped beneath £150m in the future, it would propose a wind-down.  As at 17 November 2022, NAV was £178.6m, but the board has anticipated that the likely participation in next month's semi-annual cash exit facility offer would result in the company's NAV falling below the £...