Neuberger Berman High Yield Strategies Fund Inc. Announces Management Changes
December 15, 2021 at 06:30 pm IST
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Neuberger Berman High Yield Strategies Fund Inc. announced that Russ Covode and Daniel Doyle each plan to retire from the asset management business on or about June 30, 2022 and will cease their portfolio management responsibilities at that time. Current Co-Portfolio Managers Joseph Lind and Christopher Kocinski, with an average of 19 years of industry experience, will continue to manage the Fund following the retirements of Russ Covode and Daniel Doyle. In addition, effective immediately, Christopher Kocinski will join Joseph Lind as Co-Head of U.S. High Yield at Neuberger Berman. Steve Ruh and Rachel Young, Managing Directors and Co-Directors of Non-Investment Grade Credit Research, who lead a team of 25 research analysts with an average of 13 years of industry experience, will continue to support them. Christopher Miller, Managing Director, will continue to serve as the Director of Capital Markets for the team.All of those individuals contribute to Neuberger Berman's broader Non-Investment Grade Credit team of portfolio managers, research analysts, portfolio specialists and traders. Other senior leaders on the team include Managing Directors and Portfolio Managers Joe Lynch, Steve Casey, Pim van Schie and Simon Matthews. The team-based approach to portfolio management positions the Non-Investment Grade team to deliver the same continuity of investment process and risk management that has distinguished it for the past two decades.
Neuberger Berman High Yield Strategies Fund Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fund seeks a high total return (income plus capital appreciation). The Fund will normally invest at least 80% of its total assets in high yield debt securities of United States and foreign issuers, which include securities that are rated below investment grade by a rating agency or are unrated debt securities determined to be of comparable quality by the Fundâs investment manager. It invests in various sectors, including agriculture, airlines, auto manufacturers, biotechnology, building materials, chemicals, commercial services, electric, energy-alternate sources, engineering and construction, entertainment, healthcare-products, healthcare, insurance, iron-steel, machinery-construction and mining and others. The Fundâs investment manager and administrator is Neuberger Berman Investment Advisers LLC.