Neuberger Berman Municipal Fund Files Proxy Statement

Ticker: NBH · Form: DEFA14A · Filed: Jul 22, 2024 · CIK: 1178839

Sentiment: neutral

Topics: proxy-statement, regulatory-filing, municipal-fund

TL;DR

NB Municipal Fund filed its proxy statement, standard procedure.

AI Summary

Neuberger Berman Municipal Fund Inc. filed a Definitive Proxy Statement (DEFA14A) on July 22, 2024. This filing is related to the company's proxy materials and does not require a fee. The company's fiscal year ends on October 31st.

Why It Matters

This filing is a standard regulatory requirement for public companies to inform shareholders about important matters, typically including voting on board members, executive compensation, and other corporate actions.

Risk Assessment

Risk Level: low — This is a routine regulatory filing (DEFA14A) and does not contain information indicating significant new risks or changes.

Key Players & Entities

FAQ

What type of filing is this?

This is a Definitive Proxy Statement (DEFA14A).

Who is the registrant?

The registrant is NEUBERGER BERMAN MUNICIPAL FUND INC.

When was this filing submitted?

The filing was submitted on July 22, 2024.

Is there a fee associated with this filing?

No, the filing states that no fee is required.

What is the company's fiscal year end?

The company's fiscal year ends on October 31st.

Filing Stats: 4,473 words · 18 min read · ~15 pages · Grade level 11.5 · Accepted 2024-07-22 17:21:19

Key Financial Figures

Filing Documents

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant [X] Filed by a Party other than the Registrant [ ] Check the appropriate box: [ ] Preliminary Proxy Statement [ ] Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) [ ] Definitive Proxy Statement [X] Definitive Additional Materials [ ] Soliciting Material Pursuant to 240.14a-12 Neuberger Berman Municipal Fund Inc. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): [X] No fee required. [ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. 1) Title of each class of securities to which transaction applies: 2) Aggregate number of securities to which transaction applies: 3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): 4) Proposed maximum aggregate value of transaction: 5) Total fee paid: [ ] Fee paid previously with preliminary materials. [ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. 1) Amount Previously Paid: 2) Form, Schedule or Registration Statement No.: 3) Filing Party: 4) Date Filed: Neuberger Berman Next Generation Connectivity Fund Inc. (NBXG)Neuberger Berman Municipal Fund Inc. (NBH) Presentation to Institutional Shareholder Services (ISS) July 2024 Table of Contents Introduction and Overview of Neuberger Berman Neuberger Berman Closed-End Fund Oversight Why SABA's Nominee is the Wrong choice NBXG: Performance Review & Discussion NBH: Performance Review & Discussion Is Change Warranted? No. The Funds' Incumbent Director Nominees are the Right Choice Incumbent Director nominees are independent and experienced in overseeing CEFs Neuberger Berman Closed-End Funds (NB CEFs) are designed and managed to help investors achieve their long-term investment goals The NB CEFs provide exposure to diverse asset classes and investment strategies NBH and NBXG provide investors with access to markets and strategies they may not otherwise be able to invest in on their own and, for NBH, provides institutional quality leverage that is not available to retail investors Each Director provides specialized expertise and contributes to the overall perspective and performance of the Board Replacing existing Directors of either Fund could impair its Board's balance of skills The three incumbent Board nominees are experienced and knowledgeable, independent of management, and have a history of acting in the best interests of all stockholders Saba Capital Master Fund Limited Ltd., a hedge fund managed by Saba Capital Management, L.P. (together "Saba"), has an extensive history of destructive actions that have harmed CEF stockholders and caused increases in CEF expenses Saba's tactics with other CEFs have been in its own interests, and not in the best interests of all stockholders Saba's nominee has few relevant skills to provide oversight, would add no incremental assistance to the Boards, and already serves on the boards of funds in multiple different complexes, raising questions about capacity, among other things The nominee is an employee of Saba, which creates an irreconcilable conflict of interest with other stockholders Incumbent Director nominees have served as fiduciaries for all stockholders The Funds' Boards and management teams create value for all stockholders Rigorous and Independent Board oversight ensures all stockholders are protected Inherent Conflicts between Saba's self-serving interests and those of other stockholders Saba's nominee is unqualified and conflicted Long history of overseeing closed-end funds (CEFs) and other types of investment companies prudently and in the best interest of all fund investors Overview of Neuberger Berman Neuberger Berman Overview Investing for clients for over 80 years As of June 30, 2024. Figures may not sum up due to rounding. 1. Includes the firm's current and former employees, directors and, in certain instances, their permitted transferees 2. Retention of MD and SVP investment professionals since becoming an independent company in 2009. 3. Awarded by UN-supported Principles for Responsible Investment (PRI). The PRI 2020 Leader's Group is awarded to only 20 of ~2,100 PRI investment manager signatories. 4. Based on the average scores of reporting investment management signatories globally with AUM greater than $50bn. 5. For illust

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