Neuberger Berman to wind down £178m NB Global Monthly Income fund

The board of the Neuberger Berman Global Monthly Income fund plans to wind-down the portfolio due expectedly to shrinking assets, it said in a London Stock Exchange announcement today (21 November). Following a review of the company's strategy and future prospects, the board has decided not to implement its semi-annual cash exit facility in December and instead request approval by shareholders to place the trust into a managed wind-down. The board previously announced in September 2020 that if the trust's NAV dropped beneath £150m in the future, it would propose a wind-down.  As at...