NMNCX

About NMNCX

Neuberger Berman Municipal Intermediate Bond Fund Class C is an open‑end municipal bond mutual fund focused on generating federally tax‑exempt income from a diversified portfolio of intermediate‑maturity municipal securities. The strategy emphasizes investment‑grade issuers across U.S. states and sectors, targeting a duration typically in the four‑to‑six‑year range to balance income stability with interest‑rate sensitivity characteristic of the muni national intermediate category. Managed by an experienced municipal team, the fund applies fundamental credit research with a high‑quality bias and incorporates ESG considerations within its credit analysis framework. Portfolio construction is diversified, with top holdings often including general obligation and essential‑service revenue bonds from large issuers such as New York, Illinois, and major transportation and utility authorities, reflecting broad exposure to public finance infrastructure. Class C shares carry a higher ongoing expense ratio and a contingent deferred sales charge that declines to zero after one year, aligning with distribution features typical of this share class. The fund seeks to provide consistent, tax‑advantaged income while maintaining liquidity and moderating price volatility within the municipal bond market.