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Press Release

Neuberger Berman Introduces Muni High Income Fund, Responding to Investor Demand for High-Yielding, Tax-Efficient Investments

Media Contact:

Alexander Samuelson, 212.476.5392, Alexander.Samuelson@nb.com

New York, June 24, 2015 — Neuberger Berman, one of the world’s leading private, employee-owned investment managers, is pleased to announce the launch of its Neuberger Berman Municipal High Income Fund (tickers: NMHAX, NMHCX, NMHIX) (the “Fund”), offering investors a strategy that may serve as a complement to holdings in investment grade municipals and taxable high yield.

Against a backdrop of aging populations globally, continued easy money bias by central banks, and deflation threats, Neuberger Berman’s Municipal Bond Group believes the trend to low interest rates will persist, supporting the case for the new Fund. Additionally, the team concludes, in its view:

  • The value of the municipal bond tax-exemption has increased significantly as a result of the expiration of tax cuts in 2013. It is possible that taxes may move even higher in coming years, as politicians avoid entitlement reform
  • Demand for high yielding, tax-efficient investments should grow, especially among baby boomers who may have difficulty achieving their income objectives in high quality fixed income
  • Municipal bonds have lower historical default rates than similarly rated taxable bonds1
  • Adding municipal higher yielding investments to a traditional investment grade municipal allocation can enhance return potential2

The Fund’s experienced management team includes Jamie Iselin, head of Neuberger Berman’s Municipal Fixed Income Group, co-managers Blake Miller and Eric Pelio, six research analysts and two traders. As of March 31, 2015 the team invests over $9 billion in assets for individuals and institutions.

“We believe that individual security selection, backed by our rigorous proprietary credit research, drives the performance potential for this Fund,” Iselin said.

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 18 countries, Neuberger Berman’s team is more than 2,100 professionals and the company was named by Pensions & Investments as a 2013 and 2014 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $251 billion in client assets as of March 31, 2015. For more information, please visit our website at www.nb.com.