NB Distressed Debt (Ordinary Share) NBDD

Sector Specialist: Securitised Debt

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Estimated NAV

1.00

Share Price

N/A

Total Returns on £1000 over 

Fund / Benchmark Total returns(%)
NB Distressed Debt (Ordinary Share) Price -3.57%
NB Distressed Debt (Ordinary Share) NAV -2.41%
FTSE World 57.58%
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 1.0 -8.3% 1.00 1.00
28 Apr
100% 1.35%

Discrete performance % over

Fund / BenchmarkJan '15
Dec '15
Jan '16
Dec '16
Jan '17
Dec '17
NB Distressed Debt (Ordinary Share) Price-3.40-2.992.90
NB Distressed Debt (Ordinary Share) NAV-9.96-1.9910.58
FTSE World2.2734.0414.95

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

Debt - Senior Loans 100.00%
Cash & Fixed Interest 24.80%
Hotels & Leisure 18.00%
Miscellaneous 16.30%
Utilities 15.00%
Transport 9.60%
Print Paper & Packg 8.80%
Commercial Services 3.30%
Financial Services 2.50%
Shipping 1.00%
Real Estate 0.70%
  • Investment trust info:

  • Sector Sector Specialist: Securitised Debt
  • Launch Date 09 Jun 2010
  • Currency USD
  • Domicile Guernsey
  • Share Price N/A
  • Share Type Ordinary Share
  • TIDM NBDD
  • ISIN GG00BF52R043
  • Shares Issued (M) 27
  • Market Capital (£M) 20.79
  • Gross Assets (£M) 22.68
  • Net Assets (£M) 22.68
  • TER (%) 1.84
  • Historic Dividend Yield (%) 1.35
  • Last AGM 06 Jun 2017
  • Next AGM 06 Jun 2018
  • Last Annual Report Date 02 May 2017
  • Next due Report Date 31 Dec 2017
  • 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
  • Ravi Soni Start: 03 Mar 2015
  • Management Contract & Fees:

    Per the Investment Management Agreement dated 17 July 2014 and in relation to the Ordinary Shares and Extended Life Shares, the Manager is entitled to a management fee, which shall accrue daily, and be payable monthly in arrears, at a rate of 0.125 percent per month of the Company's NAV. In addition, the Manager is entitled to a performance fee. The performance fee for Ordinary Shares, Extended Life Shares and New Global Shares will only become payable once the Company has made aggregate distributions in cash to the shareholders of the Shares equal to the aggregate gross proceeds of issuing Shares plus such amounts as will result in the shareholders having received a realised (cash-paid) IRR in respect of the Contributed Capital equal to Preferred Return, following which there will be a 100 percent catch up to the Manager until the Manager has received 20 percent of all amounts in excess of Contributed Capital distributed to the shareholders and paid to the Manager as a performance fee with, thereafter, all amounts distributed by the Company 20:80 between the Manager's performance fee and the cash distributed to shareholders.