Neuberger Berman Municipal Impact Fund Class A is an actively managed mutual fund focused on U.S. municipal bonds that finance projects with measurable social and environmental benefits. The strategy seeks federally tax‑exempt income and capital preservation by investing primarily in investment‑grade municipal securities across sectors such as education, housing, water and wastewater infrastructure, transportation, and essential public services. The fund integrates impact and ESG criteria into security selection, targeting use‑of‑proceeds bonds that support sustainable communities and align with recognized frameworks like the UN Sustainable Development Goals. Portfolio risk is managed through diversified credit exposure and intermediate interest‑rate sensitivity, with duration typically positioned in the medium range for the muni market. Managed by a dedicated municipal team at Neuberger Berman, the fund aims to balance credit quality, yield, and impact outcomes while maintaining broad national exposure rather than single‑state concentration. Class A shares carry a front‑load structure and ongoing distribution fees, reflecting their retail share class design. This vehicle serves investors seeking tax‑efficient income and documented community impact within a diversified fixed income allocation.
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