DEF 14A: Neuberger Berman Funds Announce Joint Annual Meeting of Stockholders

Neuberger Berman High Yield Strategies Fund Inc., Neuberger Berman Energy Infrastructure and Income Fund Inc., and Neuberger Berman Real Estate Securities Income Fund Inc. will hold a Joint Annual Meeting of Stockholders on October 10, 2024, to elect directors and consider other business.

Summary

• Neuberger Berman High Yield Strategies Fund Inc. (NHS), Neuberger Berman Energy Infrastructure and Income Fund Inc. (NML), and Neuberger Berman Real Estate Securities Income Fund Inc. (NRO) will hold a Joint Annual Meeting of Stockholders on October 10, 2024.
• The meeting will take place at 2:00 p.m. Eastern Time at the offices of Neuberger Berman Investment Advisers LLC in New York.
• Stockholders of record as of August 23, 2024, are entitled to vote.
• The primary agenda item is the election of three Class I Directors for each fund, with terms expiring in 2027.
• Two Class I Directors, Marc Gary and Martha C. Goss, will be elected by common and preferred stockholders voting together.
• One Class I Director, Michael M. Knetter, will be elected separately by preferred stockholders of NHS and common stockholders of NML and NRO.
• The proxy statement and related materials are available online.
• Stockholders can vote by proxy before the meeting via mail, telephone, or internet.
• The Boards of Directors recommend voting for the listed nominees.
• The document also details information about the Funds' directors, committees, and independent registered public accounting firm, Ernst & Young LLP.

Sentiment

Score: 7

Explanation: The document is a standard proxy statement, which is generally neutral in tone. The information is presented in a factual and objective manner, with no indication of significant positive or negative developments.

Positives

• The document provides clear instructions for stockholders to vote by proxy.
• Detailed information is provided about the director nominees, their qualifications, and their experience.
• The document outlines the various committees of the Boards and their responsibilities, demonstrating a commitment to corporate governance.
• The Audit Committee reports are included, providing transparency regarding the financial oversight of the Funds.

Future Outlook

The document outlines the process for the upcoming Joint Annual Meeting and the election of directors, but does not provide specific forward-looking statements regarding the Funds' future performance or strategies.

Management Comments

• Each Board believes that the incumbents are well suited for service on the Board due to their knowledge and familiarity with each Fund as a result of their prior service as Directors, their knowledge of the financial services sector, and their substantial experience in serving as directors or trustees, officers, or advisers of public companies and business organizations, including other investment companies.

Industry Context

This announcement is a routine part of the corporate governance process for publicly traded investment funds. The election of directors and the review of fund performance are standard practices in the investment management industry.

Comparison to Industry Standards

• The structure of the Board of Directors, with independent directors and various committees, aligns with industry best practices for closed-end funds.
• The disclosure of director compensation and ownership of securities is consistent with regulatory requirements and industry norms.
• The engagement of an independent registered public accounting firm and the Audit Committee's oversight of the financial reporting process are standard practices for investment companies.

Stakeholder Impact

• The election of directors and other matters voted on at the meeting will impact the governance and oversight of the Funds, which can affect shareholder value.
• The document provides information to shareholders to make informed decisions about the Funds.

Next Steps

• Stockholders should review the proxy materials and vote on the proposals.
• The Joint Annual Meeting will be held on October 10, 2024.
• The newly elected directors will serve until the annual meeting of stockholders in 2027, or until their successors are elected and qualified.

Key Dates

Keywords

proxy statement, annual meeting, directors, Neuberger Berman, stockholders, election, funds, voting, governance