At the end of 2015, the Neuberger Berman [profile] team will say goodbye to an 18-year company veteran on a $28-billion PM team.

Yesterday the New York City-based mutual fund shop confirms that Ann Benjamin will retire from Neuberger at year-end. She serves as managing director and chief investment officer for Neuberger's $28-billion non-investment grade credit (i.e. high yield) team, which includes 20 dedicated research analysts and 4 traders.

Benjamin is notably a co-PM of the $3.6-billion, four-star, silver-rated, 23-year-old Neuberger Berman High Income Bond Fund (an open-end mutual fund) and of the $249.9-million, four-star, 11-year-old Neuberger Berman High Yield Strategies Fund (a closed-end mutual fund). Managing directors Russ Covode, Dan Doyle, Tom O'Reilly also co-PM both funds. And managing director Pat Flynn will return to the high yield team in January 2016 as a co-PM. O'Reilly will take over as head of the non-investment grade credit team.

An alumnus of Chatham College, Carnegie Mellon University, AllState Insurance Company, and Westinghouse Credit, Benjamin joined Neuberger with O'Reilly in 1997 after an eight-year stint at Stein Roe. Covode joined Neuberger in 2004, Flynn (who now works in distressed debt) joined in 2006, and Doyle joined in 2012. 

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