City of London IM Discloses Stake in Neuberger Berman Next Gen Fund

TL;DR

**City of London IM just revealed a new stake in Neuberger Berman Next Gen Connectivity Fund.**

AI Summary

City of London Investment Management Company Limited, a UK-based firm, has disclosed a significant ownership stake in Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE: NBXG) as of December 31, 2023. This SC 13G filing indicates that City of London Investment Management now holds a notable position in the fund's common stock. This matters to investors because a large institutional investor taking a position can signal confidence in the fund's strategy and potentially influence its stock price.

Why It Matters

This filing reveals a major institutional investor's new or updated position, which can be seen as a vote of confidence and may attract other investors, potentially impacting the fund's share price.

Risk Assessment

Risk Level: low — An SC 13G filing typically indicates passive ownership by an institutional investor, posing minimal direct risk to the company or its shareholders.

Analyst Insight

Investors should monitor future filings from City of London Investment Management for changes in their stake and consider researching Neuberger Berman Next Generation Connectivity Fund Inc.'s performance and strategy, as institutional interest can sometimes precede increased market attention.

Key Players & Entities

• City of London Investment Management Company Limited (company) — the reporting person, an institutional investor
• Neuberger Berman Next Generation Connectivity Fund Inc. (company) — the issuer whose securities are being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• England and Wales (company) — place of organization for City of London Investment Management Company Limited

Forward-Looking Statements

• Other institutional investors may take note of City of London IM's position and potentially initiate or increase their own stakes in Neuberger Berman Next Generation Connectivity Fund Inc. (Neuberger Berman Next Generation Connectivity Fund Inc.) — medium confidence, target: Q2 2024

FAQ

Filing Documents

• col13g_18751f.htm (SC 13G) — 78KB
• 0001072613-24-000105.txt ( ) — 79KB

(a)

Item 1(a). Name of Issuer: Neuberger Berman Next Generation Connectivity Fund Inc.

(b)

Item 1(b). Address of Issuer's Principal Executive Offices: The principal executive offices of the Fund are located at: 1290 Avenue of the Americas New York, NY 10104

(a)

Item 2(a). Name of Person Filing: This statement is being filed by City of London Investment Management Company Limited (“CLIM” or the “Reporting Person”). CLIM is a fund manager, which specializes in investing in closed-end investment companies and is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940. CLIM is controlled by City of London Investment Group plc (“CLIG”), which is listed on the London Stock Exchange. However, in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational barriers have been established between CLIM and CLIG such that voting and investment power over the subject securities is exercised by CLIM independently of CLIG, and, accordingly, attribution of beneficial CLIM is principally engaged in the business of providing investment advisory services to various public and private investment funds, including CA International Equity CEF Fund (“CARDINAL”), a private investment fund organized as a Delaware business trust, All World Ex US Equity CEF Fund (“FALCON”), a private investment fund organized as a Delaware business trust, HA International Equity CEF Fund (“HAWK”), a private investment fund organized as a Delaware business trust, CA All-World Ex US Equity CEF Fund (“MACAW”), a private investment fund organized as a Delaware business trust, Global Equity Fund of CEFs (“OCEAN”), a private investment fund organized as a Delaware business trust, International Equity CEF Fund (“PHOENIX”), a private investment fund organized as a Delaware business trust, and unaffiliated third-party segregated accounts over which CLIM exercises discretionary voting and investment authority (the “Segregated Accounts”). CARDINAL, FALCON, HAWK, MACAW, OCEAN, and PHOENIX are collectively referred to herein as the “City of London

(b)

Item 2(b). Address of Principal Business Office or, if none, Residence: 77 Gracechurch Street London EC3V 0AS England

(c)

Item 2(c). Citizenship: England and Wales

(d)

Item 2(d). Title of Class of Securities: Common Stock, par value $.001 per share

(e)

Item 2(e). CUSIP Number: 64133Q108 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3); (j) Group, in accordance with Rule 13d-1(b)(1)(ii)(J). CUSIP No. 64133Q108 13G Page 5 of 6 Pages Item 4. (a) Amount beneficially owned: 3,988,516 (b) Percent of Class: 5.1% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: 3,988,516 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 3,988,516 (iv) Shared power to dispose or to direct the disposition of: 0 Item 5. of Five Percent or Less of a Class. Not applicable. Item 6. of More than Five Percent on Behalf of Another Person. Not applicable. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security being Reported on by the Parent Holding Company. Not applicable. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not ap

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