NB Global Monthly Income Fund

NB Global Monthly Income Fund was a British investment company established in March 2011 as the NB Global Floating Rate Income Fund. Its investment strategy centred on senior secured loans to large companies in the United States and Europe, positioning the vehicle within the market for floating-rate credit and income-oriented alternative investments. The fund was listed on the London Stock Exchange under the ticker NBMI and was managed by Neuberger Berman. The vehicle’s structure and name evolved during its life. On 9 September 2020, it changed its name to NB Global Monthly Income Fund Limited, reflecting the identity under which it became known in its later years. Its investment proposition was based on generating regular income from a portfolio of corporate loans rather than operating as a conventional trading company or consumer-facing financial brand. The senior-secured nature of its lending exposure was intended to give the portfolio a claim senior to unsecured debt in the event of borrower distress, although such investments remained subject to credit, liquidity, interest-rate, market and restructuring risks. Rupert Dorey served as chairman, while investment management was provided by Neuberger Berman. The fund’s exposure to US and European corporate borrowers gave it an international investment footprint even though the company itself was a UK-listed investment vehicle. Publicly available reference material identifies the fund primarily through its legal and market structure, investment mandate, management relationship and eventual wind-down rather than through a broad range of branded products or marketing campaigns. In late 2022, the company announced that it would wind itself up and began a programme of compulsory redemptions. This marked a transition from portfolio management to an orderly realisation and return-of-capital process. After most of the assets had been distributed, Sophie Smith and Matthew Wright of Leonard Curtis were appointed joint liquidators in July 2024. The appointment placed the remaining affairs of the company under formal liquidation administration. Accordingly, NB Global Monthly Income Fund is best understood as a defunct or wind-down investment company rather than an active investment brand.

NB Global Monthly Income Fund was created in March 2011 under the name NB Global Floating Rate Income Fund. It was organised as a British investment company whose portfolio focused on senior secured loans issued by large companies in the United States and Europe. The fund’s income-oriented mandate placed it within the floating-rate and leveraged-loan investment market, giving investors listed access to a portfolio of corporate credit rather than direct ownership of operating businesses. The company was listed on the London Stock Exchange under the ticker NBMI. Neuberger Berman acted as investment manager, while Rupert Dorey was identified as chairman. The fund’s principal geographic exposure was international, reflecting the US and European corporate-loan markets, although its corporate and listing context was British. On 9 September 2020, the company changed its name to NB Global Monthly Income Fund Limited. The new name became the principal identity for the later phase of the vehicle and emphasised its monthly-income orientation. There is no indication in the supplied reference material that the company operated a portfolio of separate consumer products or financial brands; its central offering was the investment company itself and the credit exposure represented by its shares. In late 2022, the fund announced its intention to wind itself up and commenced compulsory redemptions. This initiated a controlled reduction of the portfolio and the return of capital to investors as assets were realised or otherwise distributed. The process changed the company’s practical purpose from ongoing investment management to winding-down and settlement. After most of the assets had been distributed, Sophie Smith and Matthew Wright of Leonard Curtis were appointed joint liquidators in July 2024. Their appointment formalised the administration of the remaining company affairs. The fund therefore moved from being a listed investment company with an active senior-loan mandate to a company in liquidation. Based on the available reference material, its historical significance lies in its role as a UK-listed vehicle for senior secured US and European corporate-loan exposure and in its subsequent wind-up, rather than in conventional brand expansion, advertising or product diversification.

• 2024

  Joint liquidators appointed

  [1]NB Global Monthly Income Funden.wikipedia.org

  After most assets had been distributed, Sophie Smith and Matthew Wright of Leonard Curtis were appointed joint liquidators in July 2024.

• 2022

  Wind-up and compulsory redemption programme announced

  [1]NB Global Monthly Income Funden.wikipedia.org

  In late 2022, the company announced that it would wind itself up and began compulsory redemptions.

• 2020

  Name changed to NB Global Monthly Income Fund Limited

  [1]NB Global Monthly Income Funden.wikipedia.org

  The company adopted the NB Global Monthly Income Fund Limited name on 9 September 2020.

• 2011

  Fund established as NB Global Floating Rate Income Fund

  [1]NB Global Monthly Income Funden.wikipedia.org

  The investment company was established in March 2011 with a focus on floating-rate and senior secured corporate-loan investments.

An income-oriented, London-listed investment company providing exposure to senior secured corporate loans and floating-rate credit in the United States and Europe.

• Listed investment company · 2011

  NB Global Monthly Income Fund investment company shares

  The fund’s listed shares represented an interest in a pooled portfolio of senior secured loans to large companies in the United States and Europe. Trading took place on the London Stock Exchange under the ticker NBMI. The shares provided investors with listed exposure to an income-oriented corporate-credit strategy rather than direct lending to individual borrowers. The investment company later entered a wind-up process and compulsory redemption programme, after which its remaining affairs were placed in liquidation.

• Corporate credit investment · 2011

  Senior secured corporate-loan portfolio

  The fund was dedicated to senior secured loans issued by large US and European companies. These instruments formed the core of its income-generation strategy and were intended to rank ahead of unsecured obligations in a borrower’s capital structure. The portfolio was managed by Neuberger Berman. The available reference material does not provide a complete borrower list, portfolio breakdown or performance history.

• 2024

  Appointment of joint liquidatorsOther

  Background

  The company had distributed most of its assets following the wind-up and compulsory redemption process.

  Action taken

  Sophie Smith and Matthew Wright of Leonard Curtis were appointed joint liquidators in July 2024.

  Aftermath

  The appointment formalised the fund’s transition from an operating investment company to a liquidation process.

  Source

• 2022

  Decision to wind up the investment companyStrategy

  Background

  The fund announced in late 2022 that it would cease its ordinary investment-company life and proceed toward a wind-up.

  Action taken

  The company began a programme of compulsory redemptions and started distributing or realising assets.

  Aftermath

  Most assets were distributed before joint liquidators were appointed in July 2024 to handle the remaining company affairs.

  Source

• 2020

  Adoption of the NB Global Monthly Income Fund nameStrategy

  Background

  The company had originally been established as the NB Global Floating Rate Income Fund in 2011.

  Action taken

  It changed its name to NB Global Monthly Income Fund Limited on 9 September 2020.

  Aftermath

  The renamed vehicle continued to be identified with an income-oriented senior secured loan strategy managed by Neuberger Berman.

  Source

• 2024

  Joint liquidators appointed to NB Global Monthly Income Fund[1]NB Global Monthly Income Funden.wikipedia.org

  Bankruptcy · Leadership change

  Following the distribution of most of the fund’s assets, Sophie Smith and Matthew Wright of Leonard Curtis were appointed joint liquidators in July 2024.

• 2022

  NB Global Monthly Income Fund announces wind-up and compulsory redemptions[1]NB Global Monthly Income Funden.wikipedia.org

  Other

  The company announced that it would wind itself up and began a programme of compulsory redemptions in late 2022.

• 2020

  NB Global Monthly Income Fund changes its name[1]NB Global Monthly Income Funden.wikipedia.org

  Other

  The fund changed its name from NB Global Floating Rate Income Fund to NB Global Monthly Income Fund Limited on 9 September 2020.

1. 1NB Global Monthly Income Funden.wikipedia.org