Neuberger Berman Group has introduced the Neuberger Berman New York Municipal Income Fund that seeks high current income exemption from federal income tax.
The New York Municipal Income Fund will also seek high current income exemption from New York City personal income taxes.
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The Fund may invest a portion of its portfolio in securities, which may be subject to federal income tax and New York State and New York City personal income taxes.
The Fund employs a disciplined investment process built on fundamental in-house research that is consistent with low risk to principal. The Fund seeks to add value through security selection with a focus on capital preservation and high tax-effective income. Total return is a secondary goal. The Fund invests predominantly in intermediate maturity securities, and will normally maintain an average duration of between three and seven years.
The Fund’s managers, James Iselin and Blake Miller, have a combined 45 years of experience in managing tax-exempt assets, and have spent the vast majority of their time in the industry working together. The portfolio managers, supported by a team of 14 research analysts and traders, employ an active strategy that looks to provide consistent returns over evolving market conditions.
In total, the team manages over US$11 billion in tax-exempt strategies for institutions and individuals.
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