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Rating:Neuberger Banks on a New Fund Not Rated 3.0 Email Routing List Email & Route  Print Print
Wednesday, November 11, 2009

Neuberger Banks on a New Fund

Reported by Daniel Tovrov

Neuberger Berman is preparing to launch a new mutual fund which will invest in bank loans. The Floating Rate Income Fund will seek domestic floating rate senior secured interest loans, as well as other types of loans. The fund comes with an expense ratio of 10.7 basis points for A class shares, and 18.2 bps for C class shares. The fund will be managed by Tim Van Kirk.

The SECfiling is dated October 14, and Neuberger hopes to launch the fund by December.

"With this fund, we saw a good opportunity to match client needs with our own deep expertise in this space," Neuberger Berman spokesman Randy Whitestone remarked to the MFWire.

The Floating Rate Income Fund will be Neuberger Berman's 30th mutual fund. 

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