New York-based investment manager Neuberger Berman has launched the Neuberger Berman Global Flexible Credit Fund, a UCITS fund for international investors, the firm announced this morning.
The firm said the launch distils into a fund format Neuberger Berman's past decade of experience and strong investment results in managing flexible credit mandates on behalf of institutional clients globally.
The Neuberger Berman Global Flexible Credit Fund is a relative value, credit-focused strategy with the flexibility to invest across sectors, rating cohorts and geographies in order to generate durable income and strong total returns over a cycle. The portfolio will be managed by Dave Brown, Norman Milner, Joe Lynch and Vivek Bommi.
Our fund launches are typically the result of ongoing client dialogue, and we are proud to launch this fund with over $200m of external capital."
Brown, senior portfolio manager at Neuberger Berman, said: "The portfolio will adapt to changing markets utilising the best ideas sourced by Neuberger Berman's fundamentally driven research and sector expertise."
"The fund will also leverage the depth of knowledge and expertise across Neuberger Berman's global fixed income platform of over 170 professionals in eight cities across three continents. Given where valuations are currently, an investor's ability to have flexible credit selection will be the determining factor to enhance yield and strong total returns as markets gradually normalise against a backdrop of zero bound policy rates," Brown explained.
Dik van Lomwel, head of EMEA and Latin America at Neuberger Berman, adds: "Our fund launches are typically the result of ongoing client dialogue, and we are proud to launch this fund with over $200m of external capital.
Van Lomwel added, "This strategy, which leverages the expertise already offered to our global institutional clients over the past decade, enables a broader investor universe to gain exposure to the array of opportunities present in global credit markets without being beholden to a quality, sector or regional bias."