NEW YORK, May 3, 2017 /PRNewswire/ -- Neuberger Berman
MLP Income Fund Inc. (NYSE MKT: NML) (the "Fund") has announced a
conference call with the Fund's portfolio managers, Doug Rachlin and Yves
Siegel, to be held on Wednesday, May
10, 2017 at 4:15 PM (Eastern).
During the call, the portfolio managers will provide an update and
perspective on the marketplace for master limited partnerships
("MLPs") and review the Fund's performance and investment
positioning.
Questions for the portfolio managers may be submitted in advance
to the following email address: NML@NB.COM. No questions from
participants will be taken during the call. The deadline for email
submission of questions is Tuesday, May 9,
2017 at 8:00 PM (Eastern).
Details for the call, including the dial-in information will also
be posted to the Neuberger Berman website, www.nb.com, in advance
of the call.
The most recent publicly available information regarding the
Fund's portfolio attributes and manager commentary is posted to the
Neuberger Berman website in the "Closed-End Funds" section of
www.nb.com. Please see accompanying link:
http://www.nb.com/Pages/Public/en-us/Products/mlp-income-fund.aspx
to access the Fund's most recent fact sheet. This
reference to Neuberger Berman's website is intended to allow
investors public access to information regarding the Fund and does
not, and is not intended to, incorporate Neuberger Berman's website
in this release.
The Fund, which is advised by Neuberger Berman, one of the
world's leading employee-controlled money managers, has an
investment objective to seek total return with an emphasis on cash
distributions. The Fund invests at least 80% of its managed assets
in MLPs or limited liability companies that have substantially
similar economic characteristics to MLPs and currently expects its
MLP investments to emphasize companies that the portfolio managers
believe have growth potential and operate in the midstream natural
resources sector.
Call Details:
Participant Dial-In (Toll Free): (877) 515-6681
Conference ID #: 14367897
A replay of the call will be available on NB.com starting
May 12, 2017
About Neuberger Berman
Neuberger Berman, founded in
1939, is a private, independent, employee-owned investment manager.
The firm manages equities, fixed income, private equity and hedge
fund portfolios for institutions and advisors worldwide. With
offices in 19 countries, Neuberger Berman's team is more than 1,900
professionals. The company was named the #1 firm in Pensions &
Investments 2016 Best Places to Work in Money Management survey
(among those with 1,000 employees or more). Tenured, stable and
long-term in focus, the firm fosters an investment culture of
fundamental research and independent thinking. It manages
$267 billion in client assets as of
March 31, 2017. For more information,
please visit our website at www.nb.com.
Certain statements in this press release constitute
forward-looking statements, which involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
levels of activity, performance or achievements of the Fund, or
industry results, to be materially different from any future
results, levels of activity, performance or achievements expressed
or implied by such forward-looking statements. As a result,
no assurance can be given as to future results, levels of activity,
including the level of leverage, performance or achievements, and
neither the Fund nor any other person assumes responsibility for
the accuracy and completeness of such statements in the future.
Investments in MLP units entail substantial risks. The values
and prices of MLP units depend on business, economic and other
factors affecting those issuers. In addition, the MLP units may
decline due to general market conditions which are not specifically
related to a particular company, such as real or perceived adverse
economic conditions, changes in the general outlook for earnings,
changes in interest or currency rates, commodity prices or adverse
investor sentiment generally.
An investment in MLP units involves certain risks which differ
from an investment in the securities of a corporation. Holders of
MLP units or similar securities have limited control and voting
rights on matters affecting the entity in which they hold an
interest. In addition, there are certain tax risks associated with
an investment in MLP units (see below) and conflicts of interest
exist between common unit holders and the general partner. For
example, conflicts of interest may arise from incentive
distribution payments paid to the general partner, or referral of
business opportunities by the general partner or one of its
affiliates to an entity other than the MLP. The Fund is not
responsible for operating MLPs and similar entities and cannot
control or monitor their compliance with applicable tax, securities
and other laws and regulations necessary for the profitability of
such investments. Furthermore, the structures and terms of the MLPs
and other entities may not be indicative of the structure and terms
of every entity in which the Fund invests. Although the MLP sector
has grown significantly in recent years, such market trends may not
continue due to economic conditions, which are not predictable, or
other factors.
Because of its concentration in MLP investments, the Fund is not
eligible to be a regulated investment company under the Internal
Revenue Code of 1986, as amended (the "Code"). Accordingly, the
Fund will be treated as a taxable regular corporation, or so called
"C" corporation, for federal tax purposes ("'C' corporation"). As a
result, the Fund will be subject to federal income tax on its
taxable income at the graduated rates applicable to corporations
(currently at a maximum rate of 35%) as well as state and local
income taxes. As a consequence of this concentration, the aggregate
returns the Fund realizes may be adversely affected if a small
number of investments perform poorly.
Given that the Fund will be treated as a "C" corporation for
federal tax purposes, it will incur tax expenses. In calculating
its NAV in accordance with generally accepted accounting
principles, the Fund will, among other things, account for its
deferred tax liability and/or asset balances. The Fund will
accrue a deferred income tax liability balance, at the currently
effective maximum statutory federal income tax rate (currently 35%)
plus an estimated state and local income tax rate, for its future
tax liability associated with the capital appreciation of its
investments and the distributions it receives on equity securities
of MLPs considered to be returns of capital and for any net
operating gains. Any deferred tax liability balance will reduce the
Fund's NAV. On the Fund's sale of a portfolio security, it may
recognize gains for federal, state and local income tax purposes,
which may result in income taxes imposed on the Fund. No assurance
can be given that such taxes will not exceed the Fund's deferred
tax liability assumptions for purposes of computing its NAV per
share, which would result in an immediate reduction of that value,
which could be material.
Shares of closed-end funds frequently trade at a discount of
their net asset value in the secondary market and the net asset
value of the closed-end shares may decrease. Closed-end funds are
subject to various risks, including management's ability to meet
the Fund's investment objective and to manage the Fund's portfolio,
during periods of market turmoil and as investors' perceptions
regarding closed-end funds or their underlying investments change.
The investment return and principal value of an investment will
fluctuate so that the shares may be worth more or less than their
original cost.
NML Contact: Tony Maltese,
212.476.9229, AMaltese@NB.com
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SOURCE Neuberger Berman MLP Income Fund Inc.