NEW YORK, Dec. 15, 2021 /PRNewswire/ -- Neuberger Berman
High Yield Strategies Fund Inc. (NYSE American: NHS) (the
"Fund") announced today that Russ
Covode and Daniel Doyle each
plan to retire from the asset management business on or about
June 30, 2022 and will cease their
portfolio management responsibilities at that time.
Current Co-Portfolio Managers Joseph
Lind and Christopher
Kocinski, with an average of 19 years of industry
experience, will continue to manage the Fund following the
retirements of Russ Covode and
Daniel Doyle. In addition, effective
immediately, Christopher Kocinski
will join Joseph Lind as Co-Head of
U.S. High Yield at Neuberger Berman. Steve
Ruh and Rachel Young,
Managing Directors and Co-Directors of Non-Investment Grade Credit
Research, who lead a team of 25 research analysts with an average
of 13 years of industry experience, will continue to support them.
Christopher Miller, Managing
Director, will continue to serve as the Director of Capital Markets
for the team.
All of those individuals contribute to Neuberger Berman's
broader Non-Investment Grade Credit team of portfolio managers,
research analysts, portfolio specialists and traders. Other senior
leaders on the team include Managing Directors and Portfolio
Managers Joe Lynch, Steve Casey, Pim van
Schie and Simon Matthews. The
team-based approach to portfolio management positions the
Non-Investment Grade team to deliver the same continuity of
investment process and risk management that has distinguished it
for the past two decades.
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 25 countries, Neuberger Berman's diverse team has
over 2,400 professionals. For seven 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). In 2020, the PRI named Neuberger Berman a
Leader, a designation awarded to fewer than 1% of investment firms
for excellence in Environmental, Social and Governance (ESG)
practices. The PRI also awarded Neuberger Berman an A+ in every
eligible category for our approach to ESG integration across asset
classes. The firm manages $437
billion in client assets as of September 30, 2021. For more information, please
visit our website at www.nb.com.
Certain statements in this press release, such as those related
to changes in a portfolio management team, 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. Among other risks
and uncertainties are the possibility of differences in the timing
or nature of any portfolio manager changes, 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. As a result, no assurance can be given as to future
results, levels of activity, performance or achievements, and
neither the Fund nor any other person assumes responsibility for
the accuracy.
Media Contact:
Alex Samuelson, (212)
476-5392, Alexander.Samuelson@NB.com
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SOURCE Neuberger Berman