NB Global Monthly Income details fifth compulsory redemption in wind-up process
So far, the total redemptions reflected the realisation of a total value of £120.4m of the portfolio’s original assets.
Approximately £23.5m will be distributed to shareholders on 13 November 2023 by way of a partial compulsory redemption of shares, with 40.9% of existing shares redeemed at 80.77 pence per share, equalling the net asset value of the trust as of 23 October 2023.
NB Global Monthly Income details fourth compulsory redemption in wind-up process
After the latest payout, £143.9m will have been distributed to clients, equivalent to approximately 79.8% of NAV as of 27 January 2023, which would exceed the board's previously stated target of distributing 75% of the trust's NAV in cash by end of the calendar year.
As with the previous round of payouts, no fractions will be redeemed and investor shareholdings will be rounded down to the nearest whole number.
The board of the Neuberger Berman Global Monthly Income fund moved to close the trust in November last year due to its dwindling level of assets.
The estimated latest date for the redemption payment is 27 November 2023.
Brook Asset Management begins wind-up process
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