NB Global Monthly Income begins distribution following trust closure


James Baxter-Derrington
clock • 1 min read

Investors in the NB Global Monthly Income trust are set to receive their first distribution next month, following last year’s proposal to shutter the fund.

A £35m partial compulsory redemption of shares will be distributed to shareholders on 13 March 2023, with 19.49% of the existing shares redeemed for 81 pence per share, the net asset value of the trust on 23 February 2023. No fractions will be redeemed and investor shareholdings will be rounded down to the nearest whole number. Neuberger Berman to wind down £178m NB Global Monthly Income fund The move comes following an extraordinary general meeting held on 27 January 2023, in which a shareholder resolution to realise all existing assets in an orderly manner was passed. Investor...

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