26th Aug 2014 10:28
LONDON (Alliance News) - NB Distressed Debt Investment Fund Ltd Tuesday said it exited three investments during the first half of 2014, generating USD2.3 million of total income for NBDD and USD5.9 million for NBDX.
There were no exits for NBDG (global shares) during the period. During the first half of 2014, the net asset value total return for NBDD (ordinary shares) increased by 2.87%, from USD1.2189 to USD1.2538 per share. NBDX's (extended life shares) NAV per share increased by 4.78%, from USD1.2218 to USD1.2801 per share. NBDG's NAV per share decreased by 1.79%, from GBP0.9800 to GBP0.9625 per share.
The Guernsey-incorporated, closed-ended investment company's objective is to provide investors with attractive risk-adjusted returns through long-biased, opportunistic stressed, distressed and special situation credit-related investments while seeking to limit downside risk by, amongst other things, focusing on senior and senior secured debt with both collateral and structural protection.
The company consists of three different share classes, with different capital return profiles and in some instances different geographical remits.
The fund's investment manager is Neuberger Berman Europe Ltd, while the sub-investment manager is Neuberger Berman Fixed Income LLC.
(USD in millions, except per share data) | At June 30 2014 Ordinary Share Class |
At June 30 2014 Extended Life |
At June 30 2014 New Global Share Class |
At June 30 2014 |
|
|
|
|
|
Net Asset Value | USD111.8 | USD429.1 | USD182.3 | USD723.2 |
Net Asset Value per share | USD1.2538 | USD1.2801 | USD1.6459 |
|
Investments | USD107.8 | USD417.1 | USD211.0 | USD735.9 |
- Distressed Portfolio | USD103.3 | USD402.1 | USD93.1 | USD598.5 |
- Temporary Investments | USD4.5 | USD15.0 | USD117.9 | USD137.4 |
Cash and Cash Equivalents | USD10.0 | USD28.9 | USD21.6 | USD60.5 |
(USD in millions, except per share data) | At December 31 2013
Ordinary Share Class | At December 31 2013
Extended Life Share Class | At December 31 2013
Aggregated |
|
|
|
|
Net Asset Value | USD151.3 | USD430.2 | USD581.5 |
Net Asset Value per share | USD1.2189 | USD1.2218 | - |
Investments | USD143.2 | USD410.3 | USD553.5 |
- Distressed Portfolio | USD116.2 | USD380.3 | USD496.5 |
- Temporary Investments | USD27.0 | USD30.0 | USD57.0 |
Cash and Cash Equivalents | USD7.2 | USD24.1 | USD31.3 |
By Samuel Agini; [email protected]; @samuelagini
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