NB Global Monthly Income returns £23.5m to investors in twelfth month of wind-up
Investors will be paid their redemption money by 27 November 2023.
A total value of about £144m has been returned to inventors since 27 January this year, which is equivalent to approximately 80% of net asset value as of that same date.
This latest return of funds are the proceeds of the fifth compulsory redemption, which the board announced last month.
NB Global Monthly Income details fifth compulsory redemption in wind-up process
A total of 29,143,537 shares were redeemed this time, at a price of 80.8 pence per share for cancellation, which was about 40.9% of the investment company's sterling shares in issue.
Fractions of shares produced by the applicable redemption ratios have not been redeemed. Instead the number of shares redeemed in respect of each shareholder has been rounded down to the nearest whole number of shares.
Investors will be paid the redemption money and any share certificates currently in circulation will be superseded by a new certificate which will be distributed to shareholders by 27 November 2023.
Following the redemption, the NB Global Monthly Income has 42,182,147 sterling shares in issue.
Neuberger Berman to wind down £178m NB Global Monthly Income fund
In a stock exchange notice, the board of the trust said it was «pleased with the progress» that the fund's investment manager had made in realising the portfolio to-date.
The investment manager has successfully traded assets to-date on aggregate at or above their total NAV.
The board said «the time periods to realise assets in an orderly manner with a view to maintaining shareholder value is inherently uncertain», especially now the fund's portfolio has decreased in size and is left with less liquid assets.
Based on current and anticipated
Read more on investmentweek.co.uk
