NHILX: Neuberger Berman High Income Bond Instl

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NHILX Neuberger Berman High Income Bond Instl


Profile

NHILX - Profile

Vitals

  • YTD Return -2.7%
  • 3 Yr Annualized Return -1.5%
  • 5 Yr Annualized Return -0.7%
  • Net Assets $1.79 B
  • Holdings in Top 10 9.0%

52 WEEK LOW AND HIGH

$8.43
$6.67
$8.69

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.70%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 96.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return -2.7%
  • 3 Yr Annualized Total Return -1.5%
  • 5 Yr Annualized Total Return -0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.60%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Neuberger Berman High Income Bond Fund
  • Fund Family Name
    Neuberger Berman
  • Inception Date
    May 27, 2009
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    William (Russ) Covode

Fund Description

To pursue its goal, the fund normally invests mainly in a diversified portfolio of U.S. dollar-denominated, High-Yield Bonds, with an emphasis on debt securities rated below investment grade (commonly called "junk bonds"). The fund is normally expected to have a weighted averaged maturity between five and ten years.


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Categories

Performance

NHILX - Performance

Return Ranking - Trailing

Period NHILX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.7% -18.3% 8.3% 31.81%
1 Yr -0.9% -17.7% 9.2% 26.03%
3 Yr -1.5%* -9.4% 2.0% 34.11%
5 Yr -0.7%* -5.2% 1.6% 36.80%
10 Yr -0.8%* -4.1% 1.4% 65.63%

* Annualized

Return Ranking - Calendar

Period NHILX Return Category Return Low Category Return High Rank in Category (%)
2019 7.8% -1.3% 12.6% 52.63%
2018 -7.6% -14.2% -0.4% 33.41%
2017 -0.1% -5.7% 4.9% 87.47%
2016 7.9% 0.5% 13.4% 36.83%
2015 -9.9% -20.6% 1.0% 68.39%

Total Return Ranking - Trailing

Period NHILX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.7% -18.3% 8.3% 31.81%
1 Yr -0.9% -17.7% 9.2% 26.03%
3 Yr -1.5%* -9.4% 3.9% 51.17%
5 Yr -0.7%* -5.2% 4.2% 55.90%
10 Yr -0.2%* -4.1% 6.5% 53.13%

* Annualized

Total Return Ranking - Calendar

Period NHILX Return Category Return Low Category Return High Rank in Category (%)
2019 7.8% -1.3% 12.6% 56.58%
2018 -7.6% -14.2% 0.4% 46.59%
2017 -0.1% -5.1% 9.3% 90.28%
2016 7.9% 0.5% 20.7% 51.61%
2015 -9.9% -20.6% 1.0% 72.70%

NAV & Total Return History


Holdings

NHILX - Holdings

Concentration Analysis

NHILX Category Low Category High NHILX % Rank
Net Assets 1.79 B 251 K 25.6 B 25.38%
Number of Holdings 349 3 1647 49.03%
Net Assets in Top 10 155 M -362 M 2.13 B 29.25%
Weighting of Top 10 8.98% 4.1% 98.9% 63.83%

Top 10 Holdings

Asset Allocation

Weighting Return Low Return High NHILX % Rank
Bonds
92.92% 81.94% 148.76% 69.25%
Cash
6.17% -49.31% 18.01% 12.69%
Convertible Bonds
0.90% 0.00% 6.42% 29.25%
Stocks
0.00% 0.00% 8.60% 75.05%
Preferred Stocks
0.00% 0.00% 5.38% 56.34%
Other
0.00% -4.83% 7.56% 44.73%

Bond Sector Breakdown

Weighting Return Low Return High NHILX % Rank
Corporate
93.60% 62.44% 100.00% 70.97%
Cash & Equivalents
6.40% 0.00% 14.07% 10.75%
Derivative
0.00% 0.00% 4.03% 34.19%
Securitized
0.00% 0.00% 10.88% 52.04%
Municipal
0.00% 0.00% 0.58% 27.10%
Government
0.00% 0.00% 33.18% 46.88%

Bond Geographic Breakdown

Weighting Return Low Return High NHILX % Rank
US
86.68% 67.67% 127.59% 16.34%
Non US
6.24% 0.17% 29.53% 90.97%

Expenses

NHILX - Expenses

Operational Fees

NHILX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.70% 0.13% 20.17% 82.65%
Management Fee 0.63% 0.00% 1.10% 76.19%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.30% 78.71%

Sales Fees

NHILX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

NHILX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

NHILX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 96.00% 16.00% 216.00% 90.43%

Distributions

NHILX - Distributions

Dividend Yield Analysis

NHILX Category Low Category High NHILX % Rank
Dividend Yield 0.00% 0.00% 2.43% 23.87%

Dividend Distribution Analysis

NHILX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

NHILX Category Low Category High NHILX % Rank
Net Income Ratio 5.60% 2.13% 9.34% 25.05%

Capital Gain Distribution Analysis

NHILX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

NHILX - Fund Manager Analysis

Managers

William (Russ) Covode


Start Date

Tenure

Tenure Rank

Feb 28, 2011

9.34

9.3%

Russ Covode, Managing Director, joined the firm in 2004. Russ serves as a Senior Portfolio Manager for high yield and blended credit portfolios. In addition, he sits on the Credit Committee for high yield bonds and senior floating rate loans. Prior to joining the firm, Russ spent five years at Banc One Capital Markets, where he was most recently a principal in the bank’s mezzanine fund. Before that, he spent seven years with the high yield group at Banc of America Securities in various positions including leading the bank’s high yield capital markets desk. Russ began his career with S.G. Warburg & Co. in New York. Russ earned a BA from Colorado College and an MBA from the University of Chicago.

Daniel Doyle


Start Date

Tenure

Tenure Rank

Feb 28, 2014

6.34

6.3%

Daniel Doyle, CFA, Managing Director, joined the firm in 2012. Dan serves as a Senior Portfolio Manager for non-investment grade credit portfolios. In addition, he sits on the Credit Committee for high yield bonds and senior floating rate loans. Prior to joining the firm, Dan was a managing director at SunTrust Robinson Humphrey, specializing in high yield sales. He was also a portfolio manager at various firms, including Henderson Global Investors, ING Investment Management and Zurich Scudder Investments. Dan began his career at the Federal Reserve Bank of Chicago. Dan earned a BS from Northern Illinois University and an MBA from the University of Chicago. He has also been awarded the Chartered Financial Analyst designation.

Joseph Lind


Start Date

Tenure

Tenure Rank

Jul 30, 2018

1.92

1.9%

Joseph Lind, CFA, is a Managing Director of Neuberger Berman Investment Advisers LLC. He is Co-Head of U.S. High Yield. Prior to joining the firm in 2018, he served as a high yield strategy portfolio manager at DDJ Capital Management from 2012 to 2018. Previously, Mr. Lind served as a research analyst responsible for sourcing investments in the energy and equipment rental industries across all of the Adviser’s investment strategies. Mr. Lind originally joined the Adviser in 2006. Prior to joining theDDJ Capital Management , from 2004-2006 Mr. Lind served as a senior research analyst at Coast Asset Management, where he was responsible for identifying investment opportunities for a special situations hedge fund. Prior to joining Coast Asset Management, Mr. Lind served as a research analyst at Sierra Capital from 2000-2004. Mr. Lind received his Bachelor of Arts degree from Harvard University and is a CFA charter holder.

Christopher Kocinski


Start Date

Tenure

Tenure Rank

May 08, 2019

1.15

1.2%

Christopher Kocinski, CFA, Managing Director, joined the firm in 2006. Chris is a Senior Portfolio Manager for Non-Investment Grade Credit focusing on U.S. high yield portfolios. In addition, he is a member of the Credit Committee for Non-Investment Grade Credit as well as the firm’s ESG Advisory Committee. Previously, he was the Co-Director of Non-Investment Grade Credit Research and a Senior Research Analyst with a specific focus on the healthcare and gaming sectors. Prior to joining the firm, he was an investment banking analyst at Bank of America Securities. Chris earned a BA from the University of Chicago and has been awarded the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.16 35.88 6.89 1.5