NEW
YORK, March 6, 2023 /PRNewswire/ -- Neuberger
Berman MLP and Energy Income Fund Inc. (NYSE American: NML)
(the "Fund") has announced the approval of a change in the Fund's
name to "Neuberger Berman Energy Infrastructure and Income Fund
Inc.", as well as certain changes to the Fund's investment
policy. The Fund anticipates that the name and investment
policy changes will become effective on or about May 15, 2023, which is at least 60 days after
notice is given to stockholders.
Neuberger Berman Investment Advisers LLC, the Fund's investment
adviser, believes the name change and amended investment policy, as
described below, better reflect the Fund's current investment focus
within the energy infrastructure sector, regardless of underlying
portfolio company structure. The Fund will continue to employ
its investment strategy, which has generated compelling returns and
is expected to continue to emphasize companies that operate in the
midstream natural resources sector. The changes announced
today will not alter the Fund's investment objective to seek total
return with an emphasis on cash distributions, and the Fund will
continue to trade on the NYSE American under its current ticker
symbol of "NML."
The Fund currently has an investment policy that requires the
Fund to invest, under normal market conditions, at least 80% of its
total assets in master limited partnerships ("MLPs") or energy
companies. Under the Fund's amended investment policy, under
normal market conditions, the Fund will invest at least 80% of its
total assets in U.S. and non-U.S. equity or fixed income securities
of "Energy Infrastructure Companies." For purposes of the Fund's
80% policy, Energy Infrastructure Companies include MLPs and
limited liability companies taxed as partnerships, MLP affiliates,
YieldCos, pipeline companies, utilities, "C" corporations and other
companies that (i) operate within the oil and gas storage,
transportation, refining, marketing, equipment and services,
drilling, exploration or production sub-industries or (ii) have at
least 50% of their assets, income, sales or profits committed to,
or derived from, the exploration, development, production,
gathering, transportation (including marine), transmission,
terminal operation, processing, storage, refining, fractionating,
distribution, mining or marketing of natural gas, natural gas
liquids (including propane), crude oil, refined petroleum products,
energy-related equipment or services, electricity or other energy
sources, including alternative energy sources, such as renewables
and alternative fuels.
About the Fund
The Fund is a non-diversified closed-end management investment
company. The Fund's investment objective is to seek total return
with an emphasis on cash distributions. No assurance can be given
that the Fund's investment objective will be achieved. Shares of
closed-end funds frequently trade at a discount of their net asset
value. 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. 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.
Accordingly, the Fund is treated as a taxable regular corporation,
or so called "C" corporation, for federal tax purposes. As a
result, the Fund is subject to federal income tax on its taxable
income at the graduated rates applicable to corporations as well as
state and local income taxes.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages a range of
strategies—including equity, fixed income, quantitative and
multi-asset class, private equity, real estate and hedge funds—on
behalf of institutions, advisors and individual investors globally.
With offices in 26 countries, Neuberger Berman's diverse team has
over 2,600 professionals. For eight consecutive years, the company
has been named first or second in Pensions & Investments Best
Places to Work in Money Management survey (among those with 1,000
employees or more). Neuberger Berman is a PRI Leader, a
designation, since last assessed, that was awarded to fewer than 1%
of investment firms for excellence in Environmental, Social and
Governance (ESG) practices. In the 2021 PRI Assessment, the firm
obtained the highest possible scoring for its overarching
approach to ESG investment and stewardship, and integration across
asset classes. The firm manages $427
billion in client assets as of December 31, 2022. For more information, please
visit our website at www.nb.com.
Statements made in this release that look forward in time
involve risks and uncertainties. Such risks and uncertainties
include, without limitation, the adverse effect from a decline in
the securities markets or a decline in the Fund's performance, a
general downturn in the economy, competition from other closed end
investment companies, changes in government policy or regulation,
inability of the Fund's investment adviser to attract or retain key
employees, inability of the Fund to implement its investment
strategy, inability of the Fund to manage rapid expansion and
unforeseen costs and other effects related to legal proceedings or
investigations of governmental and self-regulatory
organizations.
Contact:
Neuberger Berman Investment Advisers
LLC
Investor Information
(877) 461-1899
View original content to download
multimedia:https://www.prnewswire.com/news-releases/neuberger-berman-mlp-and-energy-income-fund-announces-name-change-and-amended-investment-policy-301763837.html
SOURCE Neuberger Berman