Neuberger Berman Municipal Fund Inc. is a diversified, closed-end management investment company focused primarily on municipal securities. The fund seeks to provide a high level of current income that is exempt from federal income tax, making it an attractive option for investors looking for tax-efficient income streams. Its core holdings are municipal bonds, with at least 70% invested in securities rated within the top four categories by nationally recognized rating agencies or deemed of comparable quality by the fund's managers. The portfolio is diversified across major U.S. states, notably New York, California, Texas, Illinois, and Ohio, which helps mitigate regional risks. To enhance income, Neuberger Berman Municipal Fund Inc. employs leverage through the issuance of preferred stock, currently making up around 40% of its assets. Income generation is prioritized through rigorous bond selection and sector allocation, with a focus on maintaining a robust yield while navigating interest rate cycles. The fund’s structure as a closed-end vehicle means its market price may trade at a premium or discount to its net asset value, providing additional considerations for market participants. Managed by experienced professionals, this fund plays a significant role in the tax-exempt fixed income segment, particularly for investors seeking municipal bond exposure with professional management.
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