Neuberger Berman Real Estate Securities Income Fund Announces Results Of Initial Measurement Period Under Its Tender Offer Program
NEW YORK, March 30, 2017 /PRNewswire/ — Neuberger Berman Real Estate Securities Income Fund Inc. (NYSE MKT: NRO) (the “Fund”) announced today the results of its initial measurement period under its tender offer program.
For the 12-week measurement period ended March 28, 2017, the Fund’s common stock traded at an average daily discount to net asset value per share of -9.86%. Accordingly, the Fund will not conduct a tender offer. The Fund will announce the dates of the second measurement period under the tender offer program at a later date.
The Fund is a diversified, closed-end management investment company that invests primarily in securities issued by real estate companies, including real estate investment trusts (REITs). The Fund’s primary investment objective is high current income with capital appreciation as a secondary investment objective. The Fund’s investment strategy seeks to develop a portfolio with a broad mix of real estate securities through superior stock selection and property sector allocation.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 19 countries, Neuberger Berman’s team is more than 1,900 professionals and the company was named by Pensions & Investments as a Best Place to Work in Money Management for four consecutive years. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $255 billion in client assets as of December 31, 2016. For more information, please visit our website at www.nb.com.
Statements made in this release that look forward in time involve risks and uncertainties. Such risks and uncertainties include, without limitation, 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 manager 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.
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SOURCE Neuberger Berman Real Estate Securities Income Fund Inc.