Neuberger Municipal Fund Inc.
NBH
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- Neuberger Berman Municipal Fund Inc. (NYSE: NBH) is a diversified, closed-end management investment company that seeks high current income exempt from federal income tax by investing primarily in investment grade municipal securities. The fund offers investors exposure to a portfolio comprising municipal bonds, notes, and other debt obligations issued by states, territories, and political subdivisions; revenue bonds backed by essential services such as water, sewer, and transportation; and general obligation bonds supported by taxing powers, with a focus on intermediate-term maturities to balance yield and interest rate risk. It provides daily net asset value reporting, monthly distributions primarily from tax-exempt interest income, and shares traded on the New York Stock Exchange, managed by Neuberger Berman Investment Advisers LLC, a subsidiary of Neuberger Berman Group LLC, headquartered in New York City since the firm's founding roots in 1939. The fund operates within the municipal bond sector, targeting retail and institutional investors seeking tax-efficient fixed income, with geographic focus on U.S. municipal issuers across all 50 states and territories, emphasizing high-quality, investment-grade securities rated Baa or higher by Moody's or BBB or higher by S&P. In recent developments, the fund maintained stable operations amid market volatility through 2024-2025, with no major acquisitions, funding rounds, or name changes reported; it continued its strategy of active portfolio management, adjusting durations in response to Federal Reserve rate policies and leveraging Neuberger Berman's municipal bond expertise for enhanced yield in a normalizing rate environment.