The Fund presently intends to make common month-to-month money distributions to holders of its widespread inventory at a set charge per share, to be decided primarily based on the projected web charge of return of the Fund’s investments in addition to different components, topic to ongoing assessment and adjustment now and again. The Fund presently intends to pay its common month-to-month distributions out of its distributable money circulate, which typically consists of (1) money and paid-in-kind distributions from grasp restricted partnerships (“MLPs”) or their associates, dividends from widespread shares, curiosity from debt devices and earnings from different investments held by the Fund much less (2) present or accrued working bills, together with leverage prices, if any, and taxes on its taxable earnings.
The Fund expects {that a} portion of its distributions to stockholders will represent a non-taxable return of capital. A “return of capital” is a distribution by the Fund which represents a return of a standard stockholder’s authentic funding, and shouldn’t be confused with a dividend. To the extent the Fund pays a return of capital, a standard stockholder’s foundation in Fund shares will likely be lowered, which will enhance a capital achieve or scale back a capital loss upon sale of these shares. There is no such thing as a assurance that the Fund will at all times have the ability to pay a distribution of any specific quantity, or {that a} distribution will consist solely of the Fund’s present and gathered earnings and earnings.
In compliance with Part 19 of the Funding Firm Act of 1940, as amended, a discover could be offered for any distribution that doesn’t consist solely of web funding earnings. The discover could be for informational functions and never for tax reporting functions, and would disclose, amongst different issues, estimated parts of the distribution, if any, consisting of web funding earnings, capital positive factors and return of capital. The ultimate willpower of the supply and tax traits of all distributions paid in 2024 will likely be made after the tip of the yr.
The Fund is topic to federal earnings tax on its taxable earnings, not like most funding firms. Any taxes paid by the Fund will scale back the quantity obtainable to pay distributions to stockholders, and subsequently traders within the Fund will doubtless obtain decrease distributions than in the event that they invested immediately in MLPs.
About Neuberger Berman
Neuberger Berman is an employee-owned, personal, unbiased funding supervisor based in 1939 with 2,800 workers in 26 international locations. The agency manages
Statements made on this launch that look ahead in time contain dangers and uncertainties. Such dangers and uncertainties embody, with out limitation, the opposed impact from a decline within the securities markets or a decline within the Fund’s efficiency, a normal downturn within the financial system, competitors from different closed finish funding firms, modifications in authorities coverage or regulation, incapability of the Fund’s funding adviser to draw or retain key workers, incapability of the Fund to implement its funding technique, incapability of the Fund to handle speedy enlargement and unexpected prices and different results associated to authorized proceedings or investigations of governmental and self-regulatory organizations.
Contact:
Neuberger Berman Funding Advisers LLC
Investor Info
(877) 461-1899