Fund Evaluator:
Neuberger Floating Rate Inc C (NFICX)
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Fund Details
Neuberger Floating Rate Inc C Overview
Neuberger Floating Rate Inc C (NFICX) is an actively managed Taxable Bond Bank Loan fund. Neuberger Berman launched the fund in 2009.
The investment seeks high current income. To pursue its goal, the fund invests mainly in floating rate senior secured loans issued in U.S. dollars by U.S. and foreign corporations, partnerships and other business entities (borrowers). These loans are often at the time of investment below investment grade securities. It normally invests at least 80% of its net assets in floating rate securities (including loans) and other investment companies that provide investment exposure to such floating rate securities.
About Neuberger Floating Rate Inc C (NFICX)
There are 2 members of the management team with an average tenure of 16.20 years: Joseph Lynch (2009), Stephen Casey (2010). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Morningstar LSTA US LL TR USD index with a weighting of 100%. Neuberger Floating Rate Inc C has 423 securities in its portfolio. The top 10 holdings constitute 10.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Neuberger Floating Rate Inc C is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Neuberger Floating Rate Inc C has 52.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.2%. There is 0.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 93.9% (41.7% domestic bond, 52.1% foreign bond and 0.0% convertible bond). Neuberger Floating Rate Inc C has 5.4% of the portfolio in cash.
Assets Under Management
The fund has $5 million in total assets, which is below the $344 million average for the Bank Loan category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
NFICX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Neuberger Floating Rate Inc C expense ratio is high compared to funds in the Bank Loan category. Neuberger Floating Rate Inc C has an expense ratio of 1.74%, which is 65% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Neuberger Floating Rate Inc C has a portfolio turnover rate of 64%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Bank Loan category.
Recently, in the month of July 2026, Neuberger Floating Rate Inc C returned 0.6%, which earned it a grade of C, as the Bank Loan category had an average return of 0.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Neuberger Floating Rate Inc C has a trailing yield of 5.74%, which is below the 6.73% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Neuberger Floating Rate Inc C Grades
Year to date, the fund has returned 1.8%, 0.2 percentage points worse than the category, which translates into a grade of C. The fund has returned 3.8% over the past year (grade of C), 6.5% over the past three years (grade of C) and 4.9% per year over the past five years (grade of D) and 4.0% per year over the past 10 years (grade of F).
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NFICX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| NFICX Return (NAV) | 0.6% | 1.1% | 3.8% | 6.5% | 4.9% | 4.0% |
| NFICX Grade | C | D | C | C | D | F |
| +/- Category | 0.0% | -0.1% | 0.0% | -0.2% | -0.3% | -0.5% |
| Bank Loan Avg | 0.6% | 1.2% | 3.8% | 6.6% | 5.2% | 4.4% |
| NFICX Tax Cost Ratio | na | na | 2.3% | 2.6% | 2.4% | 1.8% |
NFICX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| NFICX Return (NAV) | 1.8% | 5.1% | 7.9% | 11.7% | -2.8% | 3.6% | 2.7% | 7.5% | -1.8% | 2.3% | 6.6% |
| NFICX Grade | C | C | D | D | D | F | A | C | F | F | F |
| +/- Category | -0.2% | 0.1% | -0.3% | -0.4% | -0.4% | -1.1% | 1.5% | -0.1% | -1.4% | -1.4% | -2.7% |
| Bank Loan Avg | 1.9% | 5.1% | 8.2% | 12.1% | -2.3% | 4.7% | 1.3% | 7.6% | -0.4% | 3.7% | 9.2% |
| Risk Measures | |
| Standard Deviation: | 1.6% |
| Total Risk Index: | 0.13 - Low |
| Category Risk Index: | 0.81 - Low |
| Category Risk Grade: | A (5% Rank) |
| Beta: | 0.03 |
| R-Squared: | 1% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | Medium Quality Limited Sensitivity |
| Yield: | 5.7% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $471 Mil |
| Fund Total Assets: | $ 5 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 64% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 16.6 years | |||
| Average Tenure: 16.2 years | |||
| Managers (Year): Lynch Joseph (2009), Casey Stephen (2010) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 423 |
| % in Top 10 Holdings: | 10.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 52.6% |
Portfolio Allocation |
|
| Domestic Stock: | 0.2% |
| Foreign Stock: | 0.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 41.7% |
| Foreign Bond: | 52.1% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 5.4% |
Purchase Information
| Fund Family: | Neuberger Berman |
| Phone Number: | 877-628-2583 |
| Website: | www.nb.com |
| Status: | Open |
| Inception Date: | December 30, 2009 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.74% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.05% |
| Share Class: | Neuberger Floating Rate Inc A |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
