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Short Duration High Income Fund

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Mutual Fund > Fixed Income > Short Duration High Income Fund

Short Duration High Income Fund

Seeks attractive income with lower volatility by investing in short duration high quality high yield bonds

  • Diversified portfolio of below investment grade corporate debt seeking to produce high current income and capital preservation
  • Seeks to add value through avoiding credit deterioration and relative value analysis
  • Lead portfolio managers average 28 years of investment experience and are supported by one of the largest dedicated research teams in the industry
  • Comprehensive credit analysis driven by proprietary “Credit Best Practices” with risk management overlay and ESG framework


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Product Characteristics

As of

The Fund’s Investment Manager (the “Manager”) caps certain expenses. Absent such arrangements, the total returns would be lower. Net expense ratio represents the total annual operating expenses that shareholders pay (after the effect of fee waivers and/or expense reimbursement). The Manager contractually caps certain expenses of the Fund (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses, dividend and interest expenses relating to short sales, and extraordinary expenses, if any; consequently, total (net) expenses may exceed the contractual cap) through 10/31/2023 for Institutional Class at 0.75%, Class A at 1.12%, Class C at 1.87% (each as a % of average net assets). Absent such arrangements, which cannot be changed without Board approval, the returns may have been lower. Information as of the most recent prospectus dated February 28, 2020, as amended.

Weighted Average Maturity is expected average life to worst or in other words the par-weighted average time (in years) to principal repayment for securitized assets or the time (in years) to probable call/put for non-securitized assets.

Average Duration represents the average duration of the portfolio. Duration of a bond is expressed as a number of years from its purchase date. It is a measurement of how long, in years, it takes for the price of a bond to be repaid by its internal cash flows. Instruments with higher effective durations often carry more risk and have higher price volatility than those with lower durations.

A fund’s 30-day SEC yield is similar to a yield to maturity for the entire portfolio. The formula is designated by the Securities and Exchange Commission (SEC). Past performance is no guarantee of future results. Absent any expense cap arrangement noted above, the SEC yields may have been lower. A negative 30-Day SEC yield results when a Fund’s accrued expenses exceed its income for the relevant period. Please note, in such instances the 30-Day SEC yield may not equal the Fund’s actual rate of income earned and distributed by the fund and therefore, a per share distribution may still be paid to shareholders. The unsubsidized 30-day SEC yields for Class A, Class C and Institutional Class are -5.36%, -6.02% and -4.74% respectively.

Management Team

Russ Covode
Senior Portfolio Manager
32 Years of industry experience
15 Years with Neuberger Berman
Dan Doyle, CFA
Senior Portfolio Manager
36 Years of industry experience
7 Years with Neuberger Berman
Joe Lind
Senior Portfolio Manager
21 Years of industry experience
2 Years with Neuberger Berman
Christopher Kocinski, CFA
Senior Portfolio Manager
14 Years of industry experience
14 Years with Neuberger Berman