On Dec. 15, 2021, Neuberger Berman announced that Russ Covode and Dan Doyle, longtime portfolio managers on the non-investment-grade team, plan to retire on June 30, 2022. They comanage the Neuberger Berman High Income and Neuberger Berman Short Duration High Yield Bond strategies alongside Chris Kocinski and Joseph Lind. Covode spends most of his time on the short-duration offering, while Doyle mainly acts as a client portfolio manager for the high-yield strategies. Additionally, Kocinski, a senior portfolio manager who rose through the non-investment-grade team’s analyst ranks, has been named the firm’s co-head of high yield. Fellow co-head of high yield Lind remains with the team. As we evaluate these significant changes, these strategies’ Morningstar Analyst Ratings are Under Review.
Neuberger Berman High Income Bond Instl NHILX
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will NHILX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable NHILX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the NHILX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of NHILX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Two Pending Manager Retirements on Neuberger Berman’s High Yield Team; Ratings Under Review
