14th Aug 2014 10:12
LONDON (Alliance News) - NB Global Floating Rate Income Fund Ltd Thursday said the net asset value attributable to both its US dollar and sterling shareholding increased in the first six months of the year.
(USUSD in millions, except per share data) | At 30 June 2014 | At 31 December 2013 | |
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Net Asset Value attributable to US Dollar shareholding |
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- Ordinary Shares | USD55.4 | USD51.8 | |
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Net Asset Value attributable to Sterling shareholding |
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- Ordinary Shares | USD2,131.5 | USD1,368.0 | |
- C Shares | - | USD693.5 | |
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Net Asset Value per share attributable to US Dollar shareholding |
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- Ordinary Shares | USD1.0106 | USD1.0102 | |
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Net Asset Value per share attributable to Sterling shareholding |
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- Ordinary Shares | £1.0017 | £1.0018 | |
- C Shares | - | £0.9839 | |
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Investments | USD2,117.1 | USD2,029.4 | |
The fund's sterling C shares merged with the sterling ordinary shares on January 21.
The fund aims to provide shareholders with regular, sustainable dividends while preserving the capital value of its investment portfolio. Its investment manager is Neuberger Berman Europe Ltd. Neuberger Berman Fixed Income LLC is the sub-investment manager.
The fund mainly invests in floating rate senior secured loans issued in dollars, sterling and euros by primarily North American and European Union corporations, partnerships and other business issuers.
At the time of investment, the loans are often non-investment grade bonds, meaning they tend to be rated below the four highest categories (Aaa, Aa, A and Baa) by at least two independent credit ratings agencies.
By Samuel Agini; [email protected]; @samuelagini
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