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Neuberger Berman fund launch offers rate rise hedge

23 Feb 2011

Asset manager Neuberger Berman on Wednesday began marketing a $200m London-listed closed end fund that will play to fixed income investors’ fears of rising global interest rates. The fund will buy a portfolio of non-investment grade senior secured loans — giving investors access to a floating rate product that will target a first-year dividend yield of 5%.

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23 Feb 2011