Neuberger Berman New York Municipal Fund (NYSEAMERICAN:NBO) is a closed-end management investment company that seeks to provide high levels of federal and New York State tax-exempt income primarily through investment in municipal obligations issued by the State of New York and its political subdivisions. The fund’s investment approach emphasizes the selection of revenue and general obligation bonds across New York’s diverse municipal spectrum, including transportation infrastructure, health care facilities, education institutions and other public service entities. By focusing on bonds issued within a single state, the fund aims to leverage specialized credit research and municipal market expertise.
The portfolio is managed by Neuberger Berman Investment Advisers LLC, a New York–based asset management firm founded in 1939. The firm’s municipal bond professionals draw on in-house credit analysts and sector specialists to assess economic trends, issuer creditworthiness and regulatory developments that may affect the fund’s holdings. Emphasis is placed on detailed fundamental analysis, active duration management and ongoing issuer monitoring to help manage interest rate risk and credit exposure.
Since its inception in the early 1990s, the fund has provided investors with access to a diversified portfolio of New York municipal bonds, combining both investment grade and select high-yield credits. Over the years, it has navigated changing market conditions, regulatory shifts and evolving tax landscapes by adapting its sector allocations and security selection process. The fund distributes income to shareholders on a monthly basis, reflecting its ongoing focus on generating tax-advantaged yield for taxable accounts.
The governance structure includes a board of trustees responsible for oversight of fund policies, fees and compliance with regulatory requirements. Portfolio management is led by a team of experienced municipal bond specialists based in New York City, working within Neuberger Berman’s broader global fixed income platform. Distribution of the fund’s shares is supported through broker-dealers, financial advisors and direct channel partners, making it accessible to individual and institutional investors seeking targeted exposure to New York’s municipal market.
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