NB Distressed Debt (Ordinary Share) NBDD

Sector Specialist: Securitised Debt

Register or Sign in to receive email alerts for items in your favourites whenever we write about them

Add to Virtual Portfolio | Print page

Estimated NAV (p)

1.00

Share Price (p)

1.20

Total Returns on £1000 over 

Fund / Benchmark Total returns(%)
NB Distressed Debt (Ordinary Share) Price 23.27%
NB Distressed Debt (Ordinary Share) NAV 31.98%
FTSE World 46.87%
Total Returns on £1000

Discount / Premium Movement

Discount / Premium Movement

Shares

Share Type Yesterday's
Closing Price
Discount / Premium Diluted NAV Gearing Dividend
Est Last
Ordinary Share 1.2p -5.2% 1.00p 1.00p
22 Oct
100%

Discrete performance % over

Fund / BenchmarkNov '11
Oct '12
Nov '12
Oct '13
Nov '13
Oct '14
NB Distressed Debt (Ordinary Share) Price1.6321.59-0.25
NB Distressed Debt (Ordinary Share) NAV9.2414.315.69
FTSE World12.0523.336.28

Discrete performance over

Discrete Performance

Top 10 Holdings

US Treasury Bill 13.00%
Federal Farm Cr Bks Cons FRN 8.00%
Bank of America Corporation FRN 7.90%
Jp Morgan Chase & FRN 7.40%
Federal National Mortgage Assoc FRN 6.20%
Federal Home Loan Mortgage Cor 5.70%
Federal Home Loan Bank FRN 08/01/2011 5.70%
Morgan Stanley FRN 5.00%
Goldman Sachs FRN 12/05/2011 5.00%

Sectors weighting

Utilities 22.00%
Financial Services 14.30%
Building Materials 10.00%
Real Estate 8.00%
Cash & Fixed Interest 7.60%
REITs - Diversified 6.20%
REITs - Hotels 5.50%
Hotels & Leisure 5.30%
Healthcare 4.60%
Transport 4.50%
Print Paper & Packg 3.20%
Shipping 2.80%
General Industrials 2.30%
Forestry 2.20%
Commercial Services 1.50%
  • Investment trust info:

  • Sector Sector Specialist: Securitised Debt
  • Launch Date 09 Jun 2010
  • Base Currency GBX
  • Domicile Guernsey
  • Share Price (p) 1.20
  • Share Type Ordinary Share
  • TIDM NBDD
  • ISIN GG00BPT2C729
  • Shares Issued (M) 84
  • Market Capital (£M) 63.00
  • Gross Assets (£M) 66.46
  • Net Assets (£M) 66.46
  • TER (%) 2.10
  • Last AGM 24 Jul 2014
  • Next AGM 24 Jul 2015
  • Last Annual Report Date 24 Apr 2013
  • Next due Report Date  
  • Next due Report Type I/R
  • Objective:

  • To provide investors with attractive risk-adjusted returns through long-biased, opportunistic stressed, distressed and special situation credit-related investments, while seeking to limit downside risk.
  • Management Group(s):

  • Neuberger Berman Europe Limited
  • Managed by:

  • Team Managed Start: 10 Jun 2010
  • Team Managed Start: 10 Jun 2010
  • Team Managed Start: 10 Jun 2010
  • Team Managed Start: 10 Jun 2010
  • Management Contract & Fees:

    Management fee 1.5 % of the NAV calculated as at the last business day of the relevant month, payable monthly in arrears. In addition, the Investment Manager will be entitled to be paid a performance fee by the Company. The performance fee will only become payable once the Company has made aggregate distributions in cash to ordinary shareholders equal to the aggregate gross proceeds of issuing Ords plus such amount as will result in the ordinary shareholders having received a realised (cash-paid) IRR in respect of the contributed capital equal to the preferred return, following which there will be a 100% catch up to the Investment Manager until the Investment Manager has received 20% of all amounts in excess of contributed capital distributed to ordinary shareholders and paid to the Investment Manager as a performance fee with, thereafter, all amounts distributed by the Company being split 20/80% between the Investment Managers performance fee and the cash distributions to the ordinary shareholders respectively.