NB Distressed Debt (Ordinary Share) NBDD

Sector Specialist: Securitised Debt

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Estimated NAV (p)


Share Price (p)


Total Returns on £1000 over 

Fund / Benchmark Total returns(%)
NB Distressed Debt (Ordinary Share) Price 14.15%
NB Distressed Debt (Ordinary Share) NAV 23.52%
FTSE World 48.84%
Total Returns on £1000

Discount / Premium Movement

Discount / Premium Movement


Share Type Yesterday's
Closing Price
Discount / Premium Diluted NAV Gearing Dividend
Est Last
Ordinary Share 1.2p -4.9% 1.00p 1.00p
26 Mar

Discrete performance % over

Fund / BenchmarkApr '12
Mar '13
Apr '13
Mar '14
Apr '14
Mar '15
NB Distressed Debt (Ordinary Share) Price8.2010.46-4.49
NB Distressed Debt (Ordinary Share) NAV13.589.27-0.48
FTSE World16.556.5519.86

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 24.00%
Financial Services 16.70%
Cash & Fixed Interest 12.20%
Miscellaneous 10.80%
REITs - Diversified 7.00%
Hotels & Leisure 6.50%
Real Estate 6.00%
Transport 4.70%
Healthcare 4.00%
Print Paper & Packg 3.60%
Shipping 2.20%
Commercial Services 1.20%
Forestry 0.90%
General Industrials 0.20%
  • Investment trust info:

  • Sector Sector Specialist: Securitised Debt
  • Launch Date 09 Jun 2010
  • Base Currency GBX
  • Domicile Guernsey
  • Share Price (p) 1.16
  • Share Type Ordinary Share
  • Shares Issued (M) 71
  • Market Capital (£M) 55.82
  • Gross Assets (£M) 58.66
  • Net Assets (£M) 58.66
  • TER (%) 5.23
  • Last AGM 24 Jul 2014
  • Next AGM 24 Jul 2015
  • Last Annual Report Date 27 Feb 2015
  • Next due Report Date 31 Dec 2014
  • Next due Report Type A/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:

  • Brendan McDermott Start: 03 Mar 2015
  • Michael Holmberg Start: 10 Jun 2010
  • Patrick Flynn Start: 10 Jun 2010
  • Ravi Soni Start: 03 Mar 2015
  • 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.