Fact sheet: NB Disd Db Inv Ltd

Fund information
Fund name
NB Distressed Debt Investment Limited
Fund manager company
Neuberger Berman Europe Ltd
Fund type
Investment Trust
Fund managers
  • Michael Holmbergsince 09/06/2010
  • Patrick Flynnsince 09/06/2010
Fund objective
NB Distressed Debt Investment Fund Limited (“NBDDIF”) is a Guernsey-incorporated closed-ended investment company that launched in June 2010. NBDDIF’s primary objective is to provide investors with attractive risk-adjusted returns through long-biased, opportunistic stressed, distressed and special situation credit-related investments while seeking to limit downside risk.
Benchmark
  • No Specified Index
Investment style
None
Investment method
Fixed Interest
Quick stats
1 Year return
-2.3%
1 Year rank in sector
18/21
Sector
IT Debt
Yield
7.7%
Fund size
£538m
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
89
Mid price
1.025
Discount/Premium
?When the market price of an investment trust’s shares is less than the net asset value (NAV) per share then it is trading at a discount to NAV. A trust’s shares are on a premium when they trade at a higher price than the NAV.
+0.00
Top in this sector
Fund name1 Year
Duet Real Estate Fin Ltd598.5%
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Fair Oaks Income Fund Ltd13.8%
Blackstone/GSO Loan Fin Ltd11.6%
Carador Income PLC9.2%
...more in IT Debt

Performance snapshot

Holdings snapshot

  • USA54.3%
    UK15.7%
    Spain8.2%
    Denmark7.8%
    Netherlands5.9%
  • Leisure & Hotels23.6%
    Transport17.5%
    Money Market15.7%
    Utilities12%
    Oil & Gas10.8%
  • US Fixed Interest54.3%
    UK Fixed Interest15.7%
    Spanish Fixed Interest8.2%
    Danish Fixed Interest7.8%
    Dutch Fixed Interest5.9%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund5.2%5.2%6.2%-2.3%-4.8%18.7%
Sector-0.7%1.3%8.5%9.3%9.5%16.2%
Rank within sector1 / 243 / 2410 / 2218 / 2111 / 115 / 5
Quartile1st1st2nd4th4th4th
Calendar performance
 YTD - 20162015201420132012
Fund3.2%-7%-21.1%3.3%
Sector9.6%-2.6%2.4%9.2%-4.2%
Rank within sector16 / 2213 / 1510 / 112 / 74 / 5
Quartile3rd4th4th2nd4th
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-1.97
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.17
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
-0
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
5.78
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
6.9
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-0.64
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.02
Price movement
52 week high1.13
52 week low0.99
Current bid price1
Current offer price1.05
Current mid price1.03
Region
1USA54.3%
2UK15.7%
3Spain8.2%
4Denmark7.8%
5Netherlands5.9%
6Australia4.7%
7Marshall Islands3.4%
Industry sector
1Leisure & Hotels23.6%
2Transport17.5%
3Money Market15.7%
4Utilities12%
5Oil & Gas10.8%
6Asset/Mortgage-Backed Securities5.9%
7Building & Construction5.9%
8Other Metals4.7%
9Automotive3.3%
Asset type
1US Fixed Interest54.3%
2UK Fixed Interest15.7%
3Spanish Fixed Interest8.2%
4Danish Fixed Interest7.8%
5Dutch Fixed Interest5.9%
6Australian Fixed Interest4.7%
7Asia Pacific Emerging Fixed Interest3.4%
Individual holdings
No data available.
Management
Fund manager group
Neuberger Berman
Fund manager company
Neuberger Berman Europe Ltd
Fund type
Investment Trust
Fund objective
NB Distressed Debt Investment Fund Limited (“NBDDIF”) is a Guernsey-incorporated closed-ended investment company that launched in June 2010. NBDDIF’s primary objective is to provide investors with attractive risk-adjusted returns through long-biased, opportunistic stressed, distressed and special situation credit-related investments while seeking to limit downside risk.
Benchmark
  • No Specified Index
Investment style
None
Investment method
Fixed Interest
Fund managers
NameSinceBiography
Michael Holmberg09/06/2010Michael J. Holmberg, Managing Director, joined Neuberger Berman in 2009. Michael is the Co-Portfolio Manager of Distressed Portfolio Management. Prior to joining the firm, Michael founded Newberry Capital Management LLC in 2006 and prior to that Michael founded and managed Ritchie Capital Management’s Special Credit Opportunities Group. He was also a managing director at Strategic Value Partners and Moore Strategic Value Partners. He began investing in distressed and credit oriented strategies as a portfolio manager at Continental Bank / Bank of America where he established the bank’s global proprietary capital account. Michael received an AB in economics from Kenyon College and an MBA from the University of Chicago.
Patrick Flynn09/06/2010Mr. Patrick H. Flynn, CFA serves as Managing Director and Portfolio Manager of Neuberger Berman Europe Limited. Mr. Flynn serves as the Co-Head of the distressed portfolio management and co-director of Leveraged Asset Management Research at NB Group. He joined NB Group in 2006. He joined NB Group with more than 15 years of experience. He served as the Vice President and Director of Research at DDJ Capital Management, LLC (DDJ). Mr. Flynn joined DDJ in February 2005 from Putnam Investment Management, LLC where he served as a Senior Vice President in the High Yield Bond Group. From 1999 to 2005, Mr. Flynn served as a High Yield Research Analyst with responsibility for the utilities, energy, and chemicals sectors. Along with his research responsibilities at Putnam, he co-managed a portfolio of distressed securities from 2002 to 2005. Before joining Putnam, Mr. Flynn served as an Associate Director in high yield capital markets with SBC Warburg. He was employed in the leveraged finance area at Chase Securities from 1991 to 1996 as an Associate in the high yield finance, media and telecommunications, and credit risk groups. He also served as an Associate Director at UBS Investment Bank. He has been a Non-Executive Director of NB Distressed Debt Investment Fund Limited since April 21, 2010. Mr. Flynn is also a C.F.A. charter holder. He has earned an M.B.A. from the University of Chicago in Finance and Economics, with honors and graduated with an A.B. from Columbia University, Magna Cum Laude.
Compliance
AIC Member
Domicile
No data available.
Fund for sale in
United Kingdom, Guernsey, Offshore
NB Distressed Debt Investment Limited
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price104.63
CurrencyUSD
Price updated07/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNJFJ
NB Distressed Debt Investment Limited Extended Life Shares
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price100.21
CurrencyUSD
Price updated07/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNJLO
NB Distressed Debt Investment Limited Extended Life Shares NAV
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1.1462
CurrencyUSD
Price updated17/06/2015
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeM79Z
NB Distressed Debt Investment Limited NAV
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price1.2295
CurrencyUSD
Price updated17/06/2015
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeM79Y
NB Distressed Debt Investment Limited New Global Shares
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price92.72
CurrencyGBX
Price updated07/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi codeNJPD
NB Distressed Debt Investment Limited New Global Shares NAV
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price0.9272
CurrencyGBP
Price updated07/12/2016
Type-
Institutional or retail classRetail
Domicile-
Citi codeKAVA
Data provided by

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