Welcome to our dedicated page for Neuberger Berman California Municipal Fund news (Ticker: NBW), a resource for investors and traders seeking the latest updates and insights on Neuberger Berman California Municipal Fund stock.
Neuberger Berman California Municipal Fund Inc. (Symbol: NBW) is a part of the renowned Neuberger Berman family, a global and employee-owned investment management firm established in 1939. Headquartered in New York, Neuberger Berman operates from 31 cities worldwide, managing a comprehensive range of strategies across various asset classes, including equity, fixed income, quantitative, multi-asset class, private equity, and hedge funds. The firm's diverse team, consisting of over 500 investment professionals and a total of approximately 1,900 employees, is dedicated to providing compelling investment results for their clients.
NBW predominantly focuses on investing in municipal bonds, aiming to provide income that is exempt from regular federal income tax. This makes it an attractive option for investors seeking tax-efficient income solutions. Over the years, NBW has built a reputation for stability and reliability in income generation for its shareholders.
Recently, Neuberger Berman California Municipal Fund Inc. (NBW) announced its reorganization into Neuberger Berman Municipal Fund Inc. (NBH), alongside Neuberger Berman New York Municipal Fund Inc. (NBO). This strategic move, completed on October 23, 2023, aims to streamline operations and leverage economies of scale. Stockholders of NBW and NBO received NBH common stock in proportion to their holdings, reflecting the aggregate net asset value of their investments.
Neuberger Berman's investment philosophy is underpinned by active management, engaged ownership, and rigorous fundamental research. The firm is recognized as a PRI Leader, a prestigious designation awarded to less than 1% of investment firms. This accolade highlights their commitment to integrating environmental, social, and governance factors into their investment processes.
Financially, Neuberger Berman manages $439 billion in client assets as of September 30, 2023. The firm has also been consistently ranked among the top in the Pensions & Investments Best Places to Work in Money Management survey for firms with 1,000 or more employees, showcasing its commitment to creating a positive workplace culture.
The firm’s commitment to excellence is reflected in its latest financial news. On October 23, 2023, Neuberger Berman Municipal Fund Inc. (NBH) announced a distribution of $0.03774 per share of common stock, payable on November 15, 2023. This distribution is part of their ongoing effort to provide steady income to its shareholders and reflects their robust financial strategy and market position.
For investors seeking a reliable and tax-efficient income stream, Neuberger Berman California Municipal Fund Inc. remains a compelling option, underscored by the firm’s long-standing expertise, robust financial health, and strategic initiatives.
On November 11, 2022, Neuberger Berman Municipal Fund (NYSE: NBH), California Municipal Fund (NYSE: NBW), and New York Municipal Fund (NYSE: NBO) announced a partial redemption of Variable Rate Municipal Term Preferred Shares (VMTP Shares). The redemption price was set at $100,000 per share plus final accumulated distributions. The Municipal Fund redeemed 200 VMTP Shares, leaving 1,457 outstanding; the California Fund redeemed 55, leaving 457 outstanding, while the New York Fund redeemed 55, leaving 365 outstanding. The Funds have not registered VMTP Shares under the Securities Act.
On August 15, 2022, Neuberger Berman Municipal Fund (NYSE: NBH), Neuberger Berman California Municipal Fund (NYSE: NBW), and Neuberger Berman New York Municipal Fund (NYSE: NBO) announced a partial redemption of their Variable Rate Municipal Term Preferred Shares (VMTP Shares). The funds redeemed 47 VMTP Shares (NBH), 38 (NBW), and 43 (NBO) at a liquidation preference of $100,000 each, plus accrued distributions. Currently, 1,657 VMTP Shares remain in NBH, 512 in NBW, and 420 in NBO. The funds have not registered the VMTP Shares under the Securities Act, limiting their sale in the U.S.
FAQ
What is the market cap of Neuberger Berman California Municipal Fund (NBW)?
What is Neuberger Berman California Municipal Fund Inc.?
What recent changes have occurred with NBW?
What is the primary investment strategy of NBW?
How does Neuberger Berman manage its investments?
What are the benefits of investing in NBW?
What was the latest distribution declared by NBH?
What does the reorganization mean for NBW and NBO stockholders?
What is Neuberger Berman's commitment to ESG?
How large is Neuberger Berman's managed asset portfolio?
Where can I find more information about Neuberger Berman?
