NERIX

About NERIX

Neuberger Berman Emerging Markets Debt Fund Institutional Class is an actively managed mutual fund focused on fixed income from emerging market issuers. Its primary objective is high total return, combining income and capital appreciation through a flexible mandate that invests at least 80% of assets in sovereign, quasi-sovereign, and corporate debt tied to emerging economies, including both hard currency and local currency instruments, as well as derivatives for exposure and risk management. The strategy blends top-down country and currency views with bottom-up credit research, integrating analysis of macroeconomic conditions, credit spreads, yield curves, and issuer fundamentals, alongside consideration of environmental, social, and governance factors. The portfolio spans diverse regions and credit tiers, with the ability to hold below-investment-grade securities and, when warranted, distressed or defaulted debt. The fund references a blended benchmark across key emerging market sovereign and corporate indices to contextualize performance, while actively varying exposures to pursue alpha across sub-asset classes. Neuberger Berman has disclosed a planned conversion of this mutual fund into an exchange-traded fund during the third quarter of 2025, expected to emphasize hard currency emerging markets debt while maintaining the core team.