Neuberger Berman launches Emerging Markets Income Fund

By Toni Weeks

San Luis Obispo, Calif., Sept. 30 - Neuberger Berman Group LLC announced in a press release the launch of its new Neuberger Berman Emerging Markets Income Fund.

The fund's managers believe that emerging markets economies will steadily improve through the remainder of this year, with growth accelerating in 2014, according to the release. The anticipated growth supports their approach to emerging markets debt and gives them flexibility to invest across emerging markets hard currency, local currency and corporate bonds.

Rob Drijkoningen, Gorky Urquieta, Jennifer Gorgoll, Raoul Luttik, Nish Popat, Vera Kartseva and Bart van der Made comprise the fund's portfolio management team.

"We believe the structural case for emerging market debt remains strong, as investors increasingly recognize the economic significance, improved credit quality and depth of emerging markets economies and capital markets, "Drijkoningen said in the release.

Added Urquieta, "Emerging markets debt should continue to benefit from the long-term trend of inflows, as investors in the United States and internationally look to include emerging markets to their fixed-income exposure."

The fund offers class A, class C and institutional class funds. The ticker symbols are NERAX, NERCX and NERIX, respectively.

As previously reported, the fund seeks high total return consisting of income and capital appreciation. The fund normally invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in debt and other instruments of issuers that are tied economically to emerging market countries. Investments may be of any maturity, duration and credit rating and may be denominated in any currency.

Shareholder fees consist of a 4.25% maximum sales charge for class A shares and a 1% maximum contingent deferred sales charge for class C shares.

Management fees will be 0.82% for class A and class C shares and 0.7% for institutional class shares. Taking into account the management fees, as well as a fee waiver agreement with the investment adviser, total annual operating expenses are expected to be 1.28% for class A, 2.03% for class C and 0.91% for institutional class shares.

New York-based Neuberger Berman Management LLC is the fund's investment manager.

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