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NEUBERGER BERMAN Half - year Report Released : 08 Sep 2021 07:00 RNS Number : 0410L NB Global Monthly Income Fund Ltd 08 September 2021 COMPANY OVERVIEW | Features Features NB GLOBAL MONTHLY INCOME FUND LIMITED 2021 INTERIM REPORT UNAUDITED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2021 NB Global Monthly Income Fund Limited ( the " Company " ) The Company is a closed - ended investment company incorporated and registered in Guernsey on 10 March 2011 with registered number 53155. The Company is governed under the provisions of the Companies ( Guernsey ) Law , 2008 as amended ( the " Law " ) , and the Registered Collective Investment Scheme Rules 2018 issued by the Guernsey Financial Services Commission . It is a non - cellular company limited by shares and has been declared by the Guernsey Financial Services Commission to be a registered closed - ended collective investment scheme . On 20 April 2011 , the Company was admitted to the Official List of the UK Listing Authority with a premium listing trading on the Main Market of the London Stock Exchange ( " LSE " ) . Alternative Investment Fund Manager ( " AIFM " ) and Manager Investment management services are provided to the Company by Neuberger Berman Investment Advisers LLC ( the " AIFM " ) and Neuberger Berman Europe Limited ( the " Manager " ) , collectively the " Investment Manager " . The AIFM is responsible for risk management and discretionary management of the Company's portfolio and the Manager provides certain administrative services to the Company . Investment Objective The Company's investment objective is to provide the Company's shareholders with consistent levels of monthly income , while maintaining or increasing the Net Asset Value ( " NAV " ) per Share over time . Details of the Company's previous investment objective and investment policy for the period 1 January 2020 to 7 September 2020 can be found on the Company's website , www.nbgmif.com . Investment Policy and Strategy To pursue its amended investment objective , the Company will invest in credit assets with the following target portfolio allocations : ( i ) 50-70 % in traditional credit , meaning high yield bonds , floating rate loans and investment grade corporate bonds ; and ( ii ) 30-50 % in alternative credit , meaning " special situations " ( consisting generally of tradeable but less liquid debt securities , such as stressed credit and CLO debt tranches ) , mezzanine debt , " club " loan transactions ( being syndicated lending opportunities presented through the Company's or Investment Manager's relationship with loan arrangers and / or borrowers ) and private corporate loans issued directly to borrowers . Investments in alternative credit will not represent more than 50 % of Net Asset Value at the time of investment . The Company's investments will be issued in U.S. Dollars , Sterling and Euros by corporations , partnerships and other business issuers based primarily in North America , the UK and Europe . At the time of investment these loans , bonds and other debt instruments will often be non investment grade . The Company expects that it will typically hold the majority of its assets directly , however where the Investment Manager considers it appropriate the Company may obtain investment exposure to loans , bonds and other debt instruments through investments in other collective investment vehicles . The Company will not invest more than 15 per cent . of its total assets in other listed closed - ended investment funds at any time . Capital Structure As at 30 June 2021 , the Company's share capital comprised 323,268,152 Sterling Ordinary Shares ( " NBMI " ) of no par value ( of which 76,083,114 were held in treasury ) . On 3 August 2020 , the Company compulsorily converted all U.S. Dollar Ordinary Shares into Sterling Ordinary Shares and subsequently closed the U.S. Dollar Share Class . Further , in tandem with the proposals made at the EGM held on 8 September 2020 , the Company