Neuberger Berman fund launch offers rate rise hedge

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%.

  • 23 Feb 2011

The bookrunners for the IPO are Dexion Capital and Oriel Securities. The deal — for which a prospectus is planned for mid-March with listing in April — has been structured with several discount control and transparency features protecting investors from the shares trading below net asset value.

It ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,691 11 20.69
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.77

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 47,881.49 152 10.95%
2 JPMorgan 40,615.47 114 9.29%
3 Wells Fargo Securities 37,061.63 106 8.48%
4 Bank of America Merrill Lynch 32,097.67 104 7.34%
5 Credit Suisse 28,257.94 85 6.46%