NMHCX: Neuberger Berman Municipal Hi Inc C

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NMHCX Neuberger Berman Municipal Hi Inc C


Profile

NMHCX - Profile

Vitals

  • YTD Return -6.5%
  • 3 Yr Annualized Return -0.9%
  • 5 Yr Annualized Return N/A
  • Net Assets $109 M
  • Holdings in Top 10 25.5%

52 WEEK LOW AND HIGH

$9.91
$9.14
$10.94

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.99%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 112.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return -6.5%
  • 3 Yr Annualized Total Return -0.9%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.32%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Neuberger Berman Municipal High Income Fund
  • Fund Family Name
    Neuberger Berman
  • Inception Date
    Jun 22, 2015
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Stephen Miller

Fund Description

The fund normally invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of municipal issuers that provide interest income that is exempt from federal income tax and other investments that provide investment exposure to such securities; however, the fund may invest without limit in municipal securities the interest on which may be a Tax Preference Item.


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Categories

Performance

NMHCX - Performance

Return Ranking - Trailing

Period NMHCX Return Category Return Low Category Return High Rank in Category (%)
YTD -6.5% -13.9% 0.6% 35.75%
1 Yr -5.2% -14.0% 5.3% 41.58%
3 Yr -0.9%* -2.9% 1.8% 35.33%
5 Yr N/A* -2.2% 1.8% N/A
10 Yr N/A* -1.4% 1.8% N/A

* Annualized

Return Ranking - Calendar

Period NMHCX Return Category Return Low Category Return High Rank in Category (%)
2019 4.7% -0.7% 9.1% 61.50%
2018 -1.5% -4.8% 9.2% 30.46%
2017 5.0% -9.7% 8.6% 21.29%
2016 -3.9% -6.1% -0.8% 83.11%
2015 N/A -5.6% 2.9% N/A

Total Return Ranking - Trailing

Period NMHCX Return Category Return Low Category Return High Rank in Category (%)
YTD -6.5% -13.9% 0.6% 35.75%
1 Yr -5.2% -14.0% 5.3% 42.11%
3 Yr -0.9%* -2.9% 1.8% 38.32%
5 Yr N/A* -2.2% 2.4% N/A
10 Yr N/A* -1.4% 4.3% N/A

* Annualized

Total Return Ranking - Calendar

Period NMHCX Return Category Return Low Category Return High Rank in Category (%)
2019 4.7% -0.7% 9.1% 61.50%
2018 -1.5% -4.8% 9.2% 33.91%
2017 5.0% -9.7% 8.8% 24.52%
2016 -3.1% -6.1% 1.0% 59.46%
2015 N/A -5.6% 5.3% N/A

NAV & Total Return History


Holdings

NMHCX - Holdings

Concentration Analysis

NMHCX Category Low Category High NMHCX % Rank
Net Assets 109 M 366 K 17.9 B 87.24%
Number of Holdings 179 6 3645 85.49%
Net Assets in Top 10 29.4 M -38.7 M 2.51 B 79.27%
Weighting of Top 10 25.45% 4.2% 98.8% 8.29%

Top 10 Holdings

  1. J P MORGAN CHASE PUTTERS / DRIVERS TR VAR STS 4.96% 5.97%
  2. GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 5% 3.74%
  3. PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% 2.98%
  4. BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5% 2.59%
  5. TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP REV 5% 1.85%
  6. ILLINOIS ST 5% 1.80%
  7. CHICAGO ILL 5% 1.73%
  8. J P MORGAN CHASE PUTTERS / DRIVERS TR VAR STS 4.96% 1.73%
  9. PUERTO RICO ELEC PWR AUTH PWR REV 5% 1.53%
  10. COLUMBUS CNTY N C INDL FACS & POLLUTN CTL FING AUTH ENVIRONMENTAL IMPT REV 1.52%

Asset Allocation

Weighting Return Low Return High NMHCX % Rank
Bonds
99.53% 79.21% 148.07% 21.65%
Cash
0.47% -1.98% 17.48% 75.13%
Stocks
0.00% 0.00% 3.82% 60.82%
Preferred Stocks
0.00% -48.07% 0.00% 54.40%
Other
0.00% -0.09% 1.67% 61.66%
Convertible Bonds
0.00% 0.00% 0.00% 54.92%

Bond Sector Breakdown

Weighting Return Low Return High NMHCX % Rank
Municipal
99.53% 82.40% 100.00% 25.39%
Cash & Equivalents
0.47% 0.00% 17.60% 76.68%
Derivative
0.00% 0.00% 0.26% 58.03%
Securitized
0.00% 0.00% 0.00% 53.89%
Corporate
0.00% 0.00% 5.11% 70.98%
Government
0.00% -2.36% 1.20% 60.62%

Bond Geographic Breakdown

Weighting Return Low Return High NMHCX % Rank
US
95.02% 74.35% 141.91% 28.50%
Non US
4.51% 0.00% 14.58% 60.62%

Expenses

NMHCX - Expenses

Operational Fees

NMHCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.99% 0.21% 2.78% 3.13%
Management Fee 0.67% 0.00% 1.25% 92.89%
12b-1 Fee 1.00% 0.00% 1.00% 86.84%
Administrative Fee 0.27% 0.01% 0.35% 94.64%

Sales Fees

NMHCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.75% N/A
Deferred Load 1.00% 1.00% 5.50% 59.52%

Trading Fees

NMHCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

NMHCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 112.00% 5.10% 125.00% 97.93%

Distributions

NMHCX - Distributions

Dividend Yield Analysis

NMHCX Category Low Category High NMHCX % Rank
Dividend Yield 0.00% 0.00% 0.80% 72.59%

Dividend Distribution Analysis

NMHCX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

NMHCX Category Low Category High NMHCX % Rank
Net Income Ratio 2.32% 1.99% 5.67% 99.48%

Capital Gain Distribution Analysis

NMHCX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

NMHCX - Fund Manager Analysis

Managers

Stephen Miller


Start Date

Tenure

Tenure Rank

Jun 22, 2015

4.86

4.9%

S. Blake Miller, CFA, Managing Director, joined the firm in 2008. Blake is a Senior Portfolio Manager for the Municipal Fixed Income team. Additionally, he co-manages the Neuberger Berman New York, California and Municipal Fund Inc. closed-end bond funds as well as the Neuberger Berman Municipal Intermediate Bond Fund, the Neuberger Berman Municipal Impact Fund and the Neuberger Berman Municipal High Income Fund. Prior to this, he was the head of Municipal Securities at Weiss, Peck & Greer, where he worked since 1986 and was responsible for all aspects of municipal fixed income investing, including portfolio management, investment strategy, and trading. Blake holds a BS degree from the McIntire School of Commerce, the University of Virginia. He has been awarded the Chartered Financial Analyst designation.

Eric Pelio


Start Date

Tenure

Tenure Rank

Jun 22, 2015

4.86

4.9%

Eric J. Pelio, Senior Vice President, joined the firm in 2008. Eric is a Portfolio Manager for the Municipal Fixed Income team focusing on taxable, tax-exempt and high yield municipal bonds. Prior to this, he was an associate portfolio manager in Municipal Securities at Weiss, Peck & Greer, where he worked since 2004. He began his career in 2002 at Deutsche Bank where he spent two years handling institutional escrow portfolios. He recieved his BS degree in finance from Roger Williams University.

James Iselin


Start Date

Tenure

Tenure Rank

Jun 22, 2015

4.86

4.9%

Managing Director, joined the firm in 2006. Jamie is the Head of the Municipal Fixed Income Team and a Senior Portfolio Manager. Additionally, he co-manages the Neuberger Berman New York, California and Municipal Fund Inc. closed-end bond funds as well as the Neuberger Berman Municipal Intermediate Bond Fund, the Neuberger Berman Municipal Impact Fund and the Neuberger Berman Municipal High Income Fund. Prior to joining the firm, he was a managing director and senior portfolio manager with Robeco Weiss, Peck & Greer in the Municipal Fixed Income group, where he worked since 1993. Jamie holds a BA in Philosophy from Denison University

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.35 6.94 0.44