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Critical Facts You Need to Know About Preferred Stocks
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Name
As of 12/13/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
25.7%
1 yr return
27.4%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$251 M
Holdings in Top 10
40.8%
Expense Ratio 0.72%
Front Load N/A
Deferred Load N/A
Turnover 15.00%
Redemption Fee N/A
Standard (Taxable)
$0
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/13/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
To pursue its goal, the Fund invests in a concentrated portfolio, consisting mainly of common stocks of companies that are selected using a fundamental, bottom-up research approach. The Fund may hold stocks of companies of any market capitalization and in any sector. Under normal market conditions, the Fund typically will hold a limited number of stocks.
Portfolio construction is an important component of the investment process and primarily consists of three distinct investment categories: Special Situations, Opportunistic, and Classic. Special Situations have unique attributes (e.g., restructurings, spin-offs, post-bankruptcy equities) that require specific methodologies and customized investment research. Opportunistic investments are companies that have become inexpensive for a tangible reason that the Portfolio Manager believes is temporary. Classic investments are those companies with long histories of shareholder-friendly policies, high-quality management teams and consistent operating performance.
The Portfolio Manager performs both quantitative and qualitative analysis in an effort to identify companies that he believes have the potential to increase in value. This potential may be realized in many ways, some of which include: free cash flow generation, product or process enhancements, margin increases, and improved capital structure management. Investments are selected primarily based on fundamental analysis of issuers and their potential in light of their financial condition, industry position, market opportunities, senior management teams and any special situations as well as any relevant economic, political and regulatory factors.
As part of his fundamental investment analysis the Portfolio Manager considers Environmental, Social and Governance (ESG) factors he believes are financially material to individual investments, where applicable, as described below. While this analysis is inherently subjective and may be informed by both internally generated and third-party metrics, data and other information, the Portfolio Manager believes that the consideration of financially material ESG factors, alongside traditional financial metrics, may enhance the Fund’s overall investment process. The consideration of ESG factors does not apply to certain instruments, such as certain derivative instruments, other registered investment companies, cash and cash equivalents. The consideration of ESG factors as part of the investment process does not mean that the Fund pursues a specific “impact” or “sustainable” investment strategy.
The Portfolio Manager employs disciplined valuation criteria and dynamic price limits to determine when to buy or sell a stock. The valuation criteria and price limits will change over time as a result of changes in company-specific, industry and market factors. The Portfolio Manager follows a disciplined selling strategy and may sell a stock when it reaches a dynamic price target, when other opportunities appear more attractive, or when the Portfolio Manager’s research indicates deteriorating fundamentals.
Although the Fund invests primarily in domestic stocks, it may also invest in stocks of foreign companies.
At times, the Portfolio Manager may emphasize certain sectors that he believes will benefit from market or economic trends.
Period | NMUEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 25.7% | 4.3% | 46.2% | 46.24% |
1 Yr | 27.4% | 5.8% | 61.3% | 45.08% |
3 Yr | N/A* | -11.0% | 19.2% | 85.53% |
5 Yr | N/A* | -7.6% | 110.6% | 72.24% |
10 Yr | N/A* | -0.1% | 52.9% | 45.92% |
* Annualized
Period | NMUEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -4.0% | -42.6% | 47.4% | 98.35% |
2022 | N/A | -56.3% | -4.2% | N/A |
2021 | N/A | -27.2% | 537.8% | N/A |
2020 | N/A | -22.5% | 2181.7% | N/A |
2019 | N/A | -13.5% | 40.4% | N/A |
Period | NMUEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 25.7% | 4.3% | 46.2% | 46.24% |
1 Yr | 27.4% | 5.8% | 61.3% | 45.08% |
3 Yr | N/A* | -11.0% | 19.2% | 81.56% |
5 Yr | N/A* | -7.6% | 110.6% | 69.15% |
10 Yr | N/A* | -0.1% | 52.9% | 42.50% |
* Annualized
Period | NMUEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 19.3% | -5.0% | 47.4% | 73.61% |
2022 | N/A | -36.8% | -2.2% | N/A |
2021 | N/A | 3.0% | 537.8% | N/A |
2020 | N/A | -15.8% | 2266.0% | N/A |
2019 | N/A | -0.4% | 241.3% | N/A |
NMUEX | Category Low | Category High | NMUEX % Rank | |
---|---|---|---|---|
Net Assets | 251 M | 2.34 M | 1.55 T | 78.73% |
Number of Holdings | 41 | 2 | 3963 | 88.54% |
Net Assets in Top 10 | 103 M | 880 K | 525 B | 78.32% |
Weighting of Top 10 | 40.79% | 0.3% | 111.6% | 28.23% |
Weighting | Return Low | Return High | NMUEX % Rank | |
---|---|---|---|---|
Stocks | 99.66% | 0.00% | 105.79% | 23.74% |
Cash | 0.35% | 0.00% | 99.07% | 70.07% |
Preferred Stocks | 0.00% | 0.00% | 2.03% | 43.78% |
Other | 0.00% | -13.91% | 100.00% | 61.34% |
Convertible Bonds | 0.00% | 0.00% | 5.54% | 41.03% |
Bonds | 0.00% | 0.00% | 93.85% | 45.01% |
Weighting | Return Low | Return High | NMUEX % Rank | |
---|---|---|---|---|
Financial Services | 21.78% | 0.00% | 55.59% | 6.47% |
Consumer Cyclical | 18.12% | 0.00% | 30.33% | 2.18% |
Industrials | 16.40% | 0.00% | 29.90% | 4.28% |
Technology | 15.01% | 0.00% | 48.94% | 90.51% |
Communication Services | 10.78% | 0.00% | 27.94% | 13.10% |
Healthcare | 7.38% | 0.00% | 52.29% | 96.39% |
Consumer Defense | 6.81% | 0.00% | 47.71% | 51.72% |
Basic Materials | 2.89% | 0.00% | 25.70% | 38.54% |
Utilities | 0.84% | 0.00% | 20.91% | 79.18% |
Real Estate | 0.00% | 0.00% | 31.91% | 92.02% |
Energy | 0.00% | 0.00% | 41.64% | 91.27% |
Weighting | Return Low | Return High | NMUEX % Rank | |
---|---|---|---|---|
US | 99.66% | 0.00% | 105.79% | 21.02% |
Non US | 0.00% | 0.00% | 63.83% | 51.11% |
NMUEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.72% | 0.01% | 19.75% | 56.02% |
Management Fee | 0.60% | 0.00% | 1.90% | 63.88% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.00% | 0.85% | N/A |
NMUEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
NMUEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.25% | 2.00% | N/A |
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
NMUEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 15.00% | 0.00% | 268.00% | 32.58% |
NMUEX | Category Low | Category High | NMUEX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.96% | 0.00% | 25.47% | 0.74% |
NMUEX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annual | Quarterly | Annual |
NMUEX | Category Low | Category High | NMUEX % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | -54.00% | 2.44% | N/A |
NMUEX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Date | Amount | Type |
---|---|---|
Dec 18, 2023 | $0.106 | OrdinaryDividend |
Dec 18, 2023 | $1.978 | CapitalGainLongTerm |
Dec 15, 2022 | $2.877 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Dec 14, 2009
12.47
12.5%
Richard S. Nackenson, Managing Director of Neuberger Berman and Senior Portfolio Manager for the Nackenson Group. He joined the firm in 1999. Previously, Richard was a Securities Analyst with Appaloosa Management focusing on global investing across capital structures and industry sectors. He was a Senior Research Analyst with Pzena Investment Management and also an Associate with James D. Wolfensohn Incorporated. He began his career with McKinsey & Company. Richard earned both a BS, summa cum laude, and an MBA from the Wharton School at the University of Pennsylvania. He has over 20 years of industry experience.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 39.02 | 7.27 | 2.42 |
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