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Products October 1, 2013
Neuberger Berman Unveils New Fund
Investment management firm Neuberger Berman Group LLC introduced its latest Emerging Markets Income Fund, which will trade under the tickers NERAZ, NERCX, and NERIX.
Reported by John Manganaro
Managers expect projected acceleration among emerging economies to make the new fund an effective tool for clients to improve portfolio diversity and grow incomes in a generally low-yield investment environment. They will take an opportunistic approach to emerging market debt in the form of hard currency, local currency and corporate bonds.
The firm selected Rob Drijkoningen and Gorky Urquieta, co-heads of Neuberger Berman’s emerging markets debt team, to head up the fund’s investment efforts.
“We believe the structural case for EMD remains strong, as investors increasingly recognize the economic significance, improved credit quality, and depth of emerging markets economies and capital markets,” Drijkoningen said.
Urquieta agreed, adding that emerging market debt products should continue to benefit as investors in the U.S. and internationally continue to add emerging markets to their fixed income exposure.
Additional details about the fund, including its prospectus, can be found at www.nb.com.