Investors in the NB Global Monthly Income trust are set to receive their first distribution next month, following last year’s proposal to shutter the fund.
A £35m partial compulsory redemption of shares will be distributed to shareholders on 13 March 2023, with 19.49% of the existing shares redeemed for 81 pence per share, the net asset value of the trust on 23 February 2023. No fractions will be redeemed and investor shareholdings will be rounded down to the nearest whole number. Neuberger Berman to wind down £178m NB Global Monthly Income fund The move comes following an extraordinary general meeting held on 27 January 2023, in which a shareholder resolution to realise all existing assets in an orderly manner was passed. Investor...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
