SEC Form 40-17G filed by Neuberger Berman Next Generation Connectivity Fund Inc.
a Risk Retention Group
Item 1.
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Name of Insured (the “Insured”)
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Bond Number
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Neuberger Berman Investment Advisers LLC |
87164124B
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Principal Office: | Mailing Address: | |||
1290 Avenue of the America
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1290 Avenue of the Americas
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New York, NY 10104
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New York, NY 10104
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Item 2.
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Bond Period: from 12:01 a.m. on
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April 30, 2024
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, to 12:01 a.m. on
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April 30, 2025
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, or
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the earlier effective date of the termination of this Bond, standard time at the Principal Office as to each of said dates. | |||||
Item 3.
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Limit of Liability—
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Subject to Sections 9, 10 and 12 hereof:
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LIMIT OF
LIABILITY
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DEDUCTIBLE
AMOUNT
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Insuring Agreement A-
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FIDELITY
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$20,000,000
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$150,000
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Insuring Agreement B-
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AUDIT EXPENSE
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$50,000
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$10,000
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Insuring Agreement C-
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ON PREMISES
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$20,000,000
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$150,000
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Insuring Agreement D-
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IN TRANSIT
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$20,000,000
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$150,000
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Insuring Agreement E-
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FORGERY OR ALTERATION
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$20,000,000
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$150,000
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Insuring Agreement F-
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SECURITIES
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$20,000,000
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$150,000
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Insuring Agreement G-
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COUNTERFEIT CURRENCY
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$20,000,000
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$150,000
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Insuring Agreement H-
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UNCOLLECTIBLE ITEMS OF DEPOSIT
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$25,000
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$5,000
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Insuring Agreement I-
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PHONE/ELECTRONIC TRANSACTIONS
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$20,000,000
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$150,000
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If “Not Covered” is inserted opposite any Insuring Agreement above, such Insuring Agreement and any reference thereto shall be deemed to be deleted from this
Bond.
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OPTIONAL INSURING AGREEMENTS ADDED BY RIDER:
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Insuring Agreement J-
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COMPUTER SECURITY
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$20,000,000
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$150,000
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Insuring Agreement M-
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SOCIAL ENGINEERING FRAUD
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$1,000,000
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$150,000
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Item 4. | Offices or Premises Covered--All the Insured’s offices or other premises in existence at the time this Bond becomes effective are covered under this Bond, except the offices or other premises excluded by Rider. Offices or other premises acquired or established after the effective date of this Bond are covered subject to the terms of General Agreement A. | |||
Item 5. |
The liability of ICI Mutual Insurance Company, a Risk Retention Group (the “Underwriter”) is subject to the terms of the following Riders attached hereto:
Riders: 1-2-3-4-5-6-7-8-9-10-11-12-13-14
and of all Riders applicable to this Bond issued during the Bond Period.
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By: ____/S/ Swenitha Nalli_______________
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By: ____/S/ Catherine Dalton___________
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Authorized Representative
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Authorized Representative
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A. |
FIDELITY
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B. | AUDIT EXPENSE |
C. | ON PREMISES |
D. | IN TRANSIT |
E. |
FORGERY OR ALTERATION
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(1) |
bills of exchange, checks, drafts, or other written orders or directions to pay sums certain in money, acceptances, certificates of deposit, due bills, money orders, warrants,
orders upon public treasuries, or letters of credit; or
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(2) |
instructions, requests or applications directed to the Insured, authorizing or acknowledging the transfer, payment, redemption, delivery or receipt of money or Property, or
giving notice of any bank account (provided such instructions or requests or applications purport to have been signed or endorsed by (a) any customer of the Insured, or (b) any shareholder of or subscriber to shares issued by any Investment
Company, or (c) any financial or banking institution or stockbroker, and further provided such instructions, requests, or applications either bear the forged signature or endorsement or have been altered without the knowledge and consent of
such customer, such shareholder or subscriber to shares issued by an Investment Company, or such financial or banking institution or stockbroker); or
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(3) |
withdrawal orders or receipts for the withdrawal of Property, or receipts or certificates of deposit for Property and bearing the name of the Insured as issuer or of another
Investment Company for which the Insured acts as agent;
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F. |
SECURITIES
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(1) |
be Counterfeit, but only to the extent that the Counterfeit directly causes the loss, or
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(2) |
be lost or stolen, or
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(3) |
contain a Forgery or Alteration, but only to the extent the Forgery or Alteration directly causes the loss,
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G. |
COUNTERFEIT CURRENCY
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H. |
UNCOLLECTIBLE ITEMS OF DEPOSIT
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(1) |
uncollectible Items of Deposit of a Fund’s customer, shareholder or subscriber credited by the Insured or its agent to such person’s Fund account, or
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(2) |
any Item of Deposit processed through an automated clearing house which is reversed by a Fund’s customer, shareholder or subscriber and is deemed uncollectible by the Insured;
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I. |
PHONE/ELECTRONIC TRANSACTIONS
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(1) |
is transmitted to the Insured or its agents by voice over the telephone or by Electronic Transmission; and
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(2) |
is made by an individual purporting to be a Fund shareholder or subscriber or an authorized agent of a Fund shareholder or subscriber; and
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(3) |
is unauthorized or fraudulent and is made with the manifest intent to deceive;
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(1) |
the failure to pay for shares attempted to be purchased; or
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(2) |
any redemption of Investment Company shares which had been improperly credited to a shareholder’s account where such shareholder (a) did not cause, directly or indirectly, such
shares to be credited to such account, and (b) directly or indirectly received any proceeds or other benefit from such redemption; or
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(3) |
any redemption of shares issued by an Investment Company where the proceeds of such redemption were requested (i) to be paid or made payable to other than an Authorized
Recipient or an Authorized Bank Account or (ii) to be sent to other than an Authorized Address;
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(4) |
the intentional failure to adhere to one or more Phone/Electronic Transaction Security Procedures; or
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(5) |
a Phone/Electronic Transaction request transmitted by electronic mail or transmitted by any method not subject to the Phone/Electronic Transaction Security Procedures; or
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(6) |
the failure or circumvention of any physical or electronic protection device, including any firewall, that imposes restrictions on the flow of electronic traffic in or out of
any Computer System.
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A. |
ADDITIONAL OFFICES OR EMPLOYEES—CONSOLIDATION OR MERGER—NOTICE
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1. |
Except as provided in paragraph 2 below, this Bond shall apply to any additional office(s) established by the Insured during the Bond Period and to all Employees during the Bond Period, without the
need to give notice thereof or pay additional premiums to the Underwriter for the Bond Period.
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2. |
If during the Bond Period an Insured Investment Company shall merge or consolidate with an institution in which such Insured is the surviving entity, or purchase substantially
all the assets or capital stock of another institution, or acquire or create a separate investment portfolio, and shall within sixty (60) days notify the Underwriter thereof, then this Bond shall automatically apply to the Property and
Employees resulting from such merger, consolidation, acquisition or creation from the date thereof; provided, that the Underwriter may make such coverage contingent upon the payment of an additional premium.
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B. |
WARRANTY
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C. | COURT COSTS AND ATTORNEYS’ FEES |
1. |
an Employee admits to having committed or is adjudicated to have committed a Dishonest or Fraudulent Act which caused the loss; or
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2. |
in the absence of such an admission or adjudication, an arbitrator or arbitrators acceptable to the Insured and the Underwriter concludes, after a review of an agreed statement
of facts, that an Employee has committed a Dishonest or Fraudulent Act which caused the loss.
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D. |
INTERPRETATION
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AND GENERAL AGREEMENTS, IS SUBJECT TO THE FOLLOWING
PROVISIONS, CONDITIONS AND LIMITATIONS:
A.
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“Alteration” means the marking,
changing or altering in a material way of the terms, meaning or legal effect of a document with the intent to deceive.
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B.
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“Application” means the
Insured’s application (and any attachments and materials submitted in connection therewith) furnished to the Underwriter for this Bond.
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C.
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“Authorized Address” means (1)
any Officially Designated address to which redemption proceeds may be sent, (2) any address designated in writing (not to include Electronic Transmission) by the Shareholder of Record and received by the Insured at least one (1) day
prior to the effective date of such designation, or (3) any address designated by voice over the telephone or by Electronic Transmission by the Shareholder of Record at least 15 days prior to the effective date of such designation.
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D.
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“Authorized Bank Account” means
any Officially Designated bank account to which redemption proceeds may be sent.
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E.
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“Authorized Recipient” means
(1) the Shareholder of Record, or (2) any other Officially Designated person to whom redemption proceeds may be sent.
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F.
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“Computer System” means (1)
computers with related peripheral components, including storage components, (2) systems and applications software, (3) terminal devices, (4) related communications networks or customer communication systems, and (5) related electronic
funds transfer systems; by which data or monies are electronically collected, transmitted, processed, stored or retrieved.
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G.
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“Convertible Virtual Currency” means Digital Assets that have an equivalent value in real currency, or
that act as a substitute for real currency, including, without limitation, stablecoins and other cryptocurrency.
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H.
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“Counterfeit” means a Written imitation of an actual
valid Original which is intended to deceive and to be taken as the Original.
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I.
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“Currency” means a medium of
exchange in current use authorized or adopted by a domestic or foreign government as part of its official currency.
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J.
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“Deductible Amount” means, with
respect to any Insuring Agreement, the amount set forth under the heading “Deductible Amount” in Item 3 of the Declarations or in any Rider for such Insuring Agreement, applicable to each Single Loss covered by such Insuring Agreement.
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K.
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“Depository” means any
“securities depository” (other than any foreign securities depository) in which an Investment Company may deposit its Securities in accordance with Rule 17f-4 under the Investment Company Act of 1940.
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L.
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“Digital Assets” mean any digital representations of value which are recorded
on cryptographically secured distributed ledgers or any similar technology, including, without limitation, Convertible Virtual Currency and Non-Fungible Tokens.
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M.
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“Dishonest or Fraudulent Act”
means any dishonest or fraudulent act, including “larceny and embezzlement” as defined in Section 37 of the Investment Company Act of 1940, committed with the conscious manifest intent (1) to cause the Insured to sustain a loss and (2)
to obtain an improper financial benefit for the perpetrator or any other person or entity. A Dishonest or Fraudulent Act does not mean or include a reckless act, a negligent act, or a grossly negligent act. As used in this definition,
“improper financial benefit” does not include any employee benefits received in the course of employment, including salaries, commissions, fees, bonuses, promotions, awards, profit sharing or pensions.
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N.
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“Electronic Transmission” means
any transmission effected by electronic means, including but not limited to a transmission effected by telephone tones, Telefacsimile, wireless device, or over the Internet.
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O.
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“Employee” means:
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(1) |
each officer, director, trustee, partner or employee of the Insured, and
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(2) |
each officer, director, trustee, partner or employee of any predecessor of the Insured whose principal assets are acquired by the Insured by consolidation or merger with, or
purchase of assets or capital stock of, such predecessor, and
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(3) |
each attorney performing legal services for the Insured and each employee of such attorney or of the law firm of such attorney while performing services for the Insured, and
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(4) |
each student who is an authorized intern of the Insured, while in any of the Insured’s offices, and
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(5) |
each officer, director, trustee, partner or employee of
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(a) |
an investment adviser,
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(b) |
an underwriter (distributor),
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(c) |
a transfer agent or shareholder accounting recordkeeper, or
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(d) |
an administrator authorized by written agreement to keep financial and/or other required records,
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(6) |
each individual assigned, by contract or by any agency furnishing temporary personnel, in either case on a contingent or part-time basis, to perform the usual duties of an
employee in any office of the Insured, and
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(7) |
each individual assigned to perform the usual duties of an employee or officer of any entity authorized by written agreement with the Insured to perform services as electronic
data processor of checks or other accounting records of the Insured, but excluding a processor which acts as transfer agent or in any other agency capacity for the Insured in issuing checks, drafts or securities, unless included under
subsection (5) hereof, and
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(8) |
each officer, partner or employee of
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(a) |
any Depository or Exchange,
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(b) |
any nominee in whose name is registered any Security included in the systems for the central handling of securities established and maintained by any Depository, and
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(c) |
any recognized service company which provides clerks or other personnel to any Depository or Exchange on a contract basis,
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(9) |
in the case of an Insured which is an “employee benefit plan” (as defined in Section 3 of the Employee Retirement Income Security Act of 1974 (“ERISA”)) for officers, directors
or employees of another Insured (“In-House Plan”), any “fiduciary” or other “plan official” (within the meaning of Section 412 of ERISA) of such In-House Plan, provided that such fiduciary or other plan official is a director, partner,
officer, trustee or employee of an Insured (other than an In-House Plan).
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P.
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“Exchange” means any national
securities exchange registered under the Securities Exchange Act of 1934.
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Q.
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“Forgery” means the physical
signing on a document of the name of another person with the intent to deceive. A Forgery may be by means of mechanically reproduced facsimile signatures as well as handwritten signatures. Forgery does not include the signing of an
individual’s own name, regardless of such individual’s authority, capacity or purpose.
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R.
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“Items of Deposit” means one or
more checks or drafts.
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S.
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“Investment Company” or “Fund” means an investment company registered under the Investment Company Act of 1940.
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T.
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“Limit of Liability” means,
with respect to any Insuring Agreement, the limit of liability of the Underwriter for any Single Loss covered by such Insuring Agreement as set forth under the heading “Limit of Liability” in Item 3 of the Declarations or in any Rider
for such Insuring Agreement.
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U.
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“Mysterious Disappearance”
means any disappearance of Property which, after a reasonable investigation has been conducted, cannot be explained.
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V.
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“Non-Fund” means any
corporation, business trust, partnership, trust or other entity which is not an Investment Company.
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W.
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“Non-Fungible Tokens” mean Digital Assets that are unique digital identifiers
that are recorded on cryptographically secured distributed ledgers or any similar technology, and that are used to certify authenticity and/or ownership of unique assets that cannot be traded, divided, or exchanged at equivalency.
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X.
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“Officially Designated” means
designated by the Shareholder of Record:
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(1) |
in the initial account application,
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(2) |
in writing accompanied by a signature guarantee, or
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(3) |
in writing or by Electronic Transmission, where such designation is verified via a callback to the Shareholder of Record by the Insured at a predetermined telephone number
provided by the Shareholder of Record to the Insured in writing at least 30 days prior to such callback.
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Y.
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“Original” means the first
rendering or archetype and does not include photocopies or electronic transmissions even if received and printed.
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Z.
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“Phone/Electronic Transaction”
means any (1) redemption of shares issued by an Investment Company, (2) election concerning dividend options available to Fund shareholders, (3) exchange of shares in a registered account of one Fund into shares in an identically
registered account of another Fund in the same complex pursuant to exchange privileges of the two Funds, or (4) purchase of shares issued by an Investment Company, which redemption, election, exchange or purchase is requested by voice
over the telephone or through an Electronic Transmission.
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AA.
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“Phone/Electronic Transaction Security Procedures” means security procedures for Phone/
Electronic Transactions as set forth in the Application and/or as otherwise provided in writing to the Underwriter. |
BB.
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“Property” means the following
tangible items: money, postage and revenue stamps, precious metals, Securities, bills of exchange, acceptances, checks, drafts, or other written orders or directions to pay sums certain in money, certificates of deposit, due bills,
money orders, letters of credit, financial futures contracts, conditional sales contracts, abstracts of title, insurance policies, deeds, mortgages, and assignments of any of the foregoing, and other valuable papers, including books of
account and other records used by the Insured in the conduct of its business, and all other instruments similar to or in the nature of the foregoing (but excluding all data processing records), (1) in which the Insured has a legally
cognizable interest, (2) in which the Insured acquired or should have acquired such an interest by reason of a predecessor’s declared financial condition at the time of the Insured’s consolidation or merger with, or purchase of the
principal assets of, such predecessor or (3) which are held by the Insured for any purpose or in any capacity.
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CC.
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“Securities” means original
negotiable or non-negotiable agreements or instruments which represent an equitable or legal interest, ownership or debt (including stock certificates, bonds, promissory notes, and assignments thereof), which are in the ordinary course
of business transferable by physical delivery with appropriate endorsement or assignment. “Securities” does not include bills of exchange, acceptances, certificates of deposit, checks, drafts, or other written orders or directions to
pay sums certain in money, due bills, money orders, or letters of credit.
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DD.
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“Security Company” means an
entity which provides or purports to provide the transport of Property by secure means, including, without limitation, by use of armored vehicles or guards.
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EE.
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“Self-Regulatory Organization”
means any association of investment advisers or securities dealers registered under the federal securities laws, or any Exchange.
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FF.
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“Shareholder of Record” means
the record owner of shares issued by an Investment Company or, in the case of joint ownership of such shares, all record owners, as designated (1) in the initial account application, or (2) in writing accompanied by a signature
guarantee, or (3) pursuant to procedures as set forth in the Application and/or as otherwise provided in writing to the Underwriter.
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GG.
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“Single Loss” means:
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(1) |
all loss caused by any one act (other than a Dishonest or Fraudulent Act) committed by one person, or
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(2) |
all loss caused by Dishonest or Fraudulent Acts committed by one person, or
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(3) |
all expenses incurred with respect to any one audit or examination, or
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(4) |
all loss caused by any one occurrence or event other than those specified in subsections (1) through (3) above.
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HH.
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“Telefacsimile” means a system
of transmitting and reproducing fixed graphic material (as, for example, printing) by means of signals transmitted over telephone lines or over the Internet.
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II.
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“Written” means expressed
through letters or marks placed upon paper and visible to the eye.
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A. |
Loss resulting from (1) riot or civil commotion outside the United States of America and Canada, or (2) war, revolution, insurrection, action by armed forces, or usurped power,
wherever occurring; except if such loss occurs while the Property is in transit, is otherwise covered under Insuring Agreement D, and when such transit was initiated, the Insured or any person initiating such transit on the Insured’s behalf
had no knowledge of such riot, civil commotion, war, revolution, insurrection, action by armed forces, or usurped power.
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B.
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Loss in time of peace or war resulting from nuclear fission or fusion or radioactivity, or biological or chemical agents or
hazards, or fire, smoke, or explosion, or the effects of any of the foregoing.
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C.
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Loss resulting from any Dishonest or Fraudulent Act committed by any person while acting in the capacity of a member of the Board
of Directors or any equivalent body of the Insured or of any other entity.
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D.
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Loss resulting from any nonpayment or other default of any loan or similar transaction made by the Insured or any of its partners,
directors, officers or employees, whether or not authorized and whether procured in good faith or through a Dishonest or Fraudulent Act, unless such loss is otherwise covered under Insuring Agreement A, E, or F.
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E.
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Loss resulting from any violation by the Insured or by any Employee of any law, or any rule or regulation pursuant thereto or
adopted by a Self-Regulatory Organization, regulating the issuance, purchase or sale of securities, securities transactions upon security exchanges or over the counter markets, Investment Companies, or investment advisers, unless such
loss, in the absence of such law, rule or regulation, would be covered under Insuring Agreement A, E, or F.
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F.
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Loss resulting from Property that is the object of a Dishonest or Fraudulent Act or Mysterious Disappearance while in the custody
of any Security Company, unless such loss is covered under this Bond and is in excess of the amount recovered or received by the Insured under (1) the Insured’s contract with such Security Company, and (2) insurance or indemnity of any
kind carried by such Security Company for the benefit of, or otherwise available to, users of its service, in which case this Bond shall cover only such excess, subject to the applicable Limit of Liability and Deductible Amount.
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G.
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Potential income, including but not limited to interest and dividends, not realized by the Insured because of a loss covered under
this Bond, except when covered under Insuring Agreement H.
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H.
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Loss in the form of (1) damages of any type for which the Insured is legally liable, except direct compensatory damages, or (2)
taxes, fines, or penalties, including without limitation two-thirds of treble damage awards pursuant to judgments under any statute or regulation.
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I.
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Loss resulting from the surrender of Property away from an office of the Insured as a result of kidnap, ransom, or extortion, or a
threat
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(1) |
to do bodily harm to any person, except where the Property is in transit in the custody of any person acting as messenger as a result of a threat to do bodily harm to such
person, if the Insured had no knowledge of such threat at the time such transit was initiated, or
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(2) |
to do damage to the premises or Property of the Insured,
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J.
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All costs, fees, and other expenses incurred by the Insured in establishing the existence of or amount of loss covered under this
Bond, except to the extent certain audit expenses are covered under Insuring Agreement B.
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K.
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Loss resulting from payments made to or withdrawals from any account, involving funds erroneously credited to such account, unless
such loss is otherwise covered under Insuring Agreement A.
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L.
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Loss resulting from uncollectible Items of Deposit which are drawn upon a financial institution outside the United States of
America, its territories and possessions, or Canada.
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M.
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Loss resulting from the Dishonest or Fraudulent Acts or other acts or omissions of an Employee primarily engaged in the sale of
shares issued by an Investment Company to persons other than (1) a person registered as a broker under the Securities Exchange Act of 1934 or (2) an “accredited investor” as defined in Rule 501(a) of Regulation D under the Securities Act
of 1933, which is not an individual.
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N.
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Loss resulting from the use of credit, debit, charge, access, convenience, identification, cash management or other cards, whether
such cards were issued or purport to have been issued by the Insured or by anyone else, unless such loss is otherwise covered under Insuring Agreement A.
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O.
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Loss resulting from any purchase, redemption or exchange of securities issued by an Investment Company or other Insured, or any
other instruction, request, acknowledgement, notice or transaction involving securities issued by an Investment Company or other Insured or the dividends in respect thereof, when any of the foregoing is requested, authorized or directed
or purported to be requested, authorized or directed by voice over the telephone or by Electronic Transmission, unless such loss is otherwise covered under Insuring Agreement A or Insuring Agreement I.
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P.
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Loss resulting from any Dishonest or Fraudulent Act or committed by an Employee as defined in Section 1.O(2), unless such loss (1)
could not have been reasonably discovered by the due diligence of the Insured at or prior to the time of acquisition by the Insured of the assets acquired from a predecessor, and (2) arose out of a lawsuit or valid claim brought against
the Insured by a person unaffiliated with the Insured or with any person affiliated with the Insured.
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Q.
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Loss resulting from the unauthorized entry of data into, or the deletion or destruction of data in, or the change of data elements
or programs within, any Computer System, unless such loss is otherwise covered under Insuring Agreement A.
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R.
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Loss resulting from the theft, disappearance, destruction, disclosure, or unauthorized use of confidential or personal information
(including, but not limited to, trade secrets, personal shareholder or client information, shareholder or client lists, personally identifiable financial or medical information, intellectual property, or any other type of non-public
information), whether such information is owned by the Insured or held by the Insured in any capacity (including concurrently with another person); provided, however, this exclusion shall not apply to loss arising out of the use of such
information to support or facilitate the commission of an act otherwise covered by this Bond.
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S.
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All costs, fees, and other expenses arising from a data security breach or incident, including, but not limited to, forensic audit
expenses, fines, penalties, expenses to comply with federal and state laws and expenses related to notifying affected individuals.
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T.
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Loss resulting from vandalism or malicious mischief.
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U.
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Loss resulting from the theft, disappearance, or destruction of Digital Assets or from the change in value of Digital Assets,
unless such loss (1) is sustained by any investment company registered under the Investment Company Act of 1940 that is named as an Insured and (2) is otherwise covered under Insuring Agreement A.
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(1) |
becomes aware of facts, or
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(2) |
receives notice of an actual or potential claim by a third party which alleges that the Insured is liable under circumstances,
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(1) |
the value of any Property replaced by the Insured prior to the payment of a claim therefor shall be the actual market value of such Property at the time of replacement, but not
in excess of the market value of such Property on the first business day before the discovery of the loss of such Property;
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(2) |
the value of Securities which must be produced to exercise subscription, conversion, redemption or deposit privileges shall be the market value of such privileges immediately
preceding the expiration thereof if the loss of such Securities is not discovered until after such expiration, but if there is no quoted or other ascertainable market price for such Property or privileges referred to in clauses (1) and (2),
their value shall be fixed by agreement between the parties or by arbitration before an arbitrator or arbitrators acceptable to the parties; and
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(3) |
the value of books of accounts or other records used by the Insured in the conduct of its business shall be limited to the actual cost of blank books, blank pages or other
materials if the books or records are reproduced plus the cost of labor for the transcription or copying of data furnished by the Insured for reproduction.
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SECTION 9. |
NON-REDUCTION AND NON-ACCUMULATION OF LIABILITY AND TOTAL LIABILITY
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SECTION 10. |
MAXIMUM LIABILITY OF UNDERWRITER; OTHER BONDS OR POLICIES
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SECTION 11. |
OTHER INSURANCE
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SECTION 12. |
DEDUCTIBLE AMOUNT
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SECTION 13. |
TERMINATION
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SECTION 14. |
RIGHTS AFTER TERMINATION
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SECTION 15. |
CENTRAL HANDLING OF SECURITIES
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SECTION 16. |
ADDITIONAL COMPANIES INCLUDED AS INSURED
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A. |
the total liability of the Underwriter hereunder for each Single Loss shall not exceed the Limit of Liability which would be applicable if there were only one named Insured,
regardless of the number of Insured entities which sustain loss as a result of such Single Loss,
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B. |
the Insured first named in Item 1 of the Declarations shall be deemed authorized to make, adjust, and settle, and receive and enforce payment of, all claims hereunder as the
agent of each other Insured for such purposes and for the giving or receiving of any notice required or permitted to be given hereunder; provided, that the Underwriter shall promptly furnish each named Insured Investment Company with (1) a
copy of this Bond and any amendments thereto, (2) a copy of each formal filing of a claim hereunder by any other Insured, and (3) notification of the terms of the settlement of each such claim prior to the execution of such settlement,
|
C. |
the Underwriter shall not be responsible or have any liability for the proper application by the Insured first named in Item 1 of the Declarations of any payment made hereunder
to the first named Insured,
|
D. |
for the purposes of Sections 4 and 13, knowledge possessed or discovery made by any partner, officer or supervisory Employee of any Insured shall constitute knowledge or
discovery by every named Insured,
|
E. |
if the first named Insured ceases for any reason to be covered under this Bond, then the Insured next named shall thereafter be considered as the first named Insured for the
purposes of this Bond, and
|
F. |
each named Insured shall constitute “the Insured” for all purposes of this Bond.
|
SECTION 17. |
NOTICE AND CHANGE OF CONTROL
|
A. |
the names of the transferors and transferees (or the names of the beneficial owners if the voting securities are registered in another name), and
|
B. |
the total number of voting securities owned by the transferors and the transferees (or the beneficial owners), both immediately before and after the transfer, and
|
C. |
the total number of outstanding voting securities.
|
SECTION 18. |
CHANGE OR MODIFICATION
|
SECTION 19. |
COMPLIANCE WITH APPLICABLE TRADE AND ECONOMIC SANCTIONS
|
SECTION 20. |
ANTI-BUNDLING
|
INSURED
Neuberger Berman Investment Advisers LLC |
BOND NUMBER
87164124B
|
|
EFFECTIVE DATE
April 30, 2024
|
BOND PERIOD
April 30, 2024 to April 30, 2025
|
AUTHORIZED REPRESENTATIVE
/S/ Catherine Dalton
|
|
|
|
o
|
Mid Cap Growth Portfolio
|
o
|
Mid Cap Intrinsic Value Portfolio
|
o
|
Real Estate Portfolio
|
o
|
Short Duration Bond Portfolio
|
o
|
Sustainable Equity Portfolio
|
o
|
Neuberger Berman Dividend Growth Fund
|
o
|
Neuberger Berman Emerging Markets Equity Fund
|
o
|
Neuberger Berman Equity Income Fund
|
o
|
Neuberger Berman Focus Fund
|
o
|
Neuberger Berman Genesis Fund
|
o
|
Neuberger Berman International Equity Fund
|
o
|
Neuberger Berman International Select Fund
|
o
|
Neuberger Berman International Small Cap Fund
|
o
|
Neuberger Berman Intrinsic Value Fund
|
o
|
Neuberger Berman Large Cap Growth Fund
|
o
|
Neuberger Berman Large Cap Value Fund
|
o
|
Neuberger Berman Mid Cap Growth Fund
|
o
|
Neuberger Berman Mid Cap Intrinsic Value Fund
|
o
|
Neuberger Berman Multi-Cap Opportunities Fund
|
o
|
Neuberger Berman Real Estate Fund
|
o
|
Neuberger Berman Small Cap Growth Fund
|
o
|
Neuberger Berman Sustainable Equity Fund
|
o
|
Neuberger Berman U.S. Equity Impact Fund
|
o
|
Neuberger Berman Core Bond Fund
|
o
|
Neuberger Berman Emerging Markets Debt Fund
|
o
|
Neuberger Berman Floating Rate Income Fund
|
o
|
Neuberger Berman High Income Bond Fund
|
o
|
Neuberger Berman Municipal High Income Fund
|
o
|
Neuberger Berman Municipal Impact Fund
|
o
|
Neuberger Berman Municipal Intermediate Bond Fund
|
o
|
Neuberger Berman Short Duration Bond Fund
|
o
|
Neuberger Berman Strategic Income Fund
|
o
|
Neuberger Berman Absolute Return Multi-Manager Fund
|
o
|
Neuberger Berman Long Short Fund
|
o
|
Cayman Commodity Fund I
|
o
|
Neuberger Berman Carbon Transition & Infrastructure ETF
|
o
|
Neuberger Berman China Equity ETF
|
o
|
Neuberger Berman Commodity Strategy ETF
|
o
|
Neuberger Berman Core Equity ETF
|
o
|
Neuberger Berman Disrupters ETF
|
o
|
Neuberger Berman Flexible Credit Income ETF
|
o
|
Neuberger Berman Global Real Estate ETF
|
o
|
Neuberger Berman Next Generation Connected Consumer ETF
|
o | Neuberger Berman Option Strategy ETF |
o
|
Neuberger Berman Short Duration Income ETF
|
o | Neuberger Berman Small-Mid Cap ETF |
|
INSURED
Neuberger Berman Investment Advisers LLC |
BOND NUMBER
87164124B
|
|
EFFECTIVE DATE
April 30, 2024
|
BOND PERIOD
April 30, 2024 to April 30, 2025
|
AUTHORIZED REPRESENTATIVE
/S/ Catherine Dalton
|
|
|
|
INSURED
Neuberger Berman Investment Advisers LLC |
BOND NUMBER
87164124B
|
|
EFFECTIVE DATE
April 30, 2024
|
BOND PERIOD
April 30, 2024 to April 30, 2025
|
AUTHORIZED REPRESENTATIVE
/S/ Catherine Dalton
|
|
|
|
INSURED
Neuberger Berman Investment Advisers LLC |
BOND NUMBER
87164124B
|
|
EFFECTIVE DATE
April 30, 2024
|
BOND PERIOD
April 30, 2024 to April 30, 2025
|
AUTHORIZED REPRESENTATIVE
/S/ Catherine Dalton
|
|
|
|
(1) |
letter requesting redemption of $100,000 or less payable by check to the Shareholder of Record and sent to an Authorized Address; or
|
(2) |
letter requesting redemption of $100,000 or less by wire transfer to the Shareholder of Record of an Authorized Bank Account; or
|
(3) |
written request to a trustee or custodian for a Designated Retirement Account (“DRA”) which holds shares of an Insured Fund, where such request (a) purports to be from or at the instruction of the
Owner of such DRA, and (b) directs such trustee or custodian to transfer $100,000 or less from such DRA to a trustee or custodian for another DRA established for the benefit of such Owner;
|
(A) |
“Designated Retirement Account” means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.
|
(B) |
“Owner” means the individual for whose benefit the DRA, or a subaccount thereof, is established.
|
INSURED
Neuberger Berman Investment Advisers LLC |
BOND NUMBER
87164124B
|
|
EFFECTIVE DATE
April 30, 2024
|
BOND PERIOD
April 30, 2024 to April 30, 2025
|
AUTHORIZED REPRESENTATIVE
/S/ Catherine Dalton
|
|
|
|
(1) |
such Third Party Check is used to open or increase an account which is registered in the name of one or more of the payees on such Third Party Check, and
|
(2) |
reasonable efforts are made by the Insured, or by the entity receiving Third Party Checks on behalf of the Insured, to verify all endorsements on all Third Party Checks made payable in amounts
greater than $100,000 (provided, however, that the isolated failure to make such efforts in a particular instance will not preclude coverage, subject to the exclusions herein and in the Bond),
|
(1) |
any payee on such Third Party Check reasonably appears to be a corporation or other entity; or
|
(2) |
such Third Party Check is made payable in an amount greater than $100,000 and does not include the purported endorsements of all payees on such Third Party Check.
|
INSURED
Neuberger Berman Investment Advisers LLC |
BOND NUMBER
87164124B
|
|
EFFECTIVE DATE
April 30, 2024
|
BOND PERIOD
April 30, 2024 to April 30, 2025
|
AUTHORIZED REPRESENTATIVE
/S/ Catherine Dalton
|
|
|
|
INSURED
Neuberger Berman Investment Advisers LLC |
BOND NUMBER
87164124B
|
|
EFFECTIVE DATE
April 30, 2024
|
BOND PERIOD
April 30, 2024 to April 30, 2025
|
AUTHORIZED REPRESENTATIVE
/S/ Catherine Dalton
|
|
|
|
(a) |
the Shareholder of Record verifies, by some method other than an Electronic Transmission effected over the Internet, that each such redemption or purchase has been authorized, and
|
(b) |
if such redemption or purchase is to be effected by wire to or from a particular bank account, a duly authorized employee of the bank verifies the account number to or from which funds are being
transferred, and that the name on the account is the same as the name of the intended recipient of the proceeds.
|
INSURED
Neuberger Berman Investment Advisers LLC |
BOND NUMBER
87164124B
|
|
EFFECTIVE DATE
April 30, 2024
|
BOND PERIOD
April 30, 2024 to April 30, 2025
|
AUTHORIZED REPRESENTATIVE
/S/ Catherine Dalton
|
|
|
|
(1)
|
a Phone/Electronic Redemption requested to be paid or made payable by check to the Shareholder of Record and sent to an Authorized Address; or
|
(2)
|
a Phone/Electronic Redemption requested to be paid or made payable by wire transfer to the Shareholder of Record at an Authorized Bank Account,
|
INSURED
Neuberger Berman Investment Advisers LLC |
BOND NUMBER
87164124B
|
|
EFFECTIVE DATE
April 30, 2024
|
BOND PERIOD
April 30, 2024 to April 30, 2025
|
AUTHORIZED REPRESENTATIVE
/S/ Catherine Dalton
|
|
|
|
“(10) |
each individual assigned temporarily by an Insured to perform the usual duties of an employee in any office of the Insured provided that such an individual has successfully completed a background
check consisting of all of the following:
|
INSURED
Neuberger Berman Investment Advisers LLC |
BOND NUMBER
87164124B
|
|
EFFECTIVE DATE
April 30, 2024
|
BOND PERIOD
April 30, 2024 to April 30, 2025
|
AUTHORIZED REPRESENTATIVE
/S/ Catherine Dalton
|
|
|
|
INSURED
Neuberger Berman Investment Advisers LLC |
BOND NUMBER
87164124B
|
|
EFFECTIVE DATE
April 30, 2024
|
BOND PERIOD
April 30, 2024 to April 30, 2025
|
AUTHORIZED REPRESENTATIVE
/S/ Catherine Dalton
|
|
|
|
INSURED
Neuberger Berman Investment Advisers LLC |
BOND NUMBER
87164124B
|
|
EFFECTIVE DATE
April 30, 2024
|
BOND PERIOD
April 30, 2024 to April 30, 2025
|
AUTHORIZED REPRESENTATIVE
/S/ Catherine Dalton
|
|
|
|
1. |
Definitions. The following terms used in this Insuring Agreement shall have the following meanings:
|
a. |
“Authorized User” means any person or entity designated by the Insured (through contract, assignment of User Identification, or otherwise) as authorized to use a Covered Computer System, or any
part thereof. An individual who invests in an Insured Fund shall not be considered to be an Authorized User solely by virtue of being an investor.
|
b. |
“Computer Fraud” means the unauthorized entry of data into, or the deletion or destruction of data in, or change of data elements or programs within, a Covered Computer System which:
|
(1) |
is committed by any Unauthorized Third Party anywhere, alone or in collusion with other Unauthorized Third Parties; and
|
(2) |
is committed with the conscious manifest intent (a) to cause the Insured to sustain a loss, and (b) to obtain financial benefit for the perpetrator or any other person; and
|
(3) |
causes (x) Property to be transferred, paid or delivered; or (y) an account of the Insured, or of its customer, to be added, deleted, debited or credited; or (z) an unauthorized or
fictitious account to be debited or credited.
|
c. |
“Computer Security Procedures” means procedures for prevention of unauthorized computer access and use and administration of computer access and use as provided in writing to the Underwriter.
|
d. |
“Covered Computer System” means any Computer System as to which the Insured has possession, custody and control.
|
e. |
“Unauthorized Third Party” means any person or entity that, at the time of the Computer Fraud, is not an Authorized User.
|
f. |
“User Identification” means any unique user name (i.e., a series of characters) that is assigned to a person or entity by the Insured.
|
2. |
Exclusions. It is further understood and agreed that this Insuring Agreement J shall not cover:
|
a. |
Any loss covered under Insuring Agreement A, “Fidelity,” of this Bond; and
|
b. |
Any loss resulting from the intentional failure to adhere to one or more Computer Security Procedures; and
|
c. |
Any loss resulting from a Computer Fraud committed by or in collusion with:
|
(1) |
any Authorized User (whether a natural person or an entity); or
|
(2) |
in the case of any Authorized User which is an entity, (a) any director, officer, partner, employee or agent of such Authorized User, or (b) any entity which controls, is controlled by, or is under
common control with such Authorized User (“Related Entity”), or (c) any director, officer, partner, employee or agent of such Related Entity; or
|
(3) |
in the case of any Authorized User who is a natural person, (a) any entity for which such Authorized User is a director, officer, partner, employee or agent (“Employer Entity”), or (b) any
director, officer, partner, employee or agent of such Employer Entity, or (c) any entity which controls, is controlled by, or is under common control with such Employer Entity (“Employer-Related Entity”), or (d) any director, officer,
partner, employee or agent of such Employer-Related Entity;
|
d. |
Any loss resulting from physical damage to or destruction of any Covered Computer System, or any part thereof, or any data, data elements or media associated therewith; and
|
e. |
Any loss not directly and proximately caused by Computer Fraud (including, without limitation, disruption of business and extra expense); and
|
f. |
Payments made to any person(s) who has threatened to deny or has denied authorized access to a Covered Computer System or otherwise has threatened to disrupt the business of the Insured.
|
(a) |
by written notice from the Underwriter not less than sixty (60) days prior to the effective date of termination specified in such notice; or
|
(b) |
immediately by written notice from the Insured to the Underwriter.
|
INSURED
Neuberger Berman Investment Advisers LLC |
BOND NUMBER
87164124B
|
|
EFFECTIVE DATE
April 30, 2024
|
BOND PERIOD
April 30, 2024 to April 30, 2025
|
AUTHORIZED REPRESENTATIVE
/S/ Catherine Dalton
|
|
|
|
1. |
“Communication” means an instruction that (a) directs an Employee to transfer, pay, or deliver money from the Insured’s own account, (b) contains a material misrepresentation of fact, and (c) is
relied upon by the Employee, believing it to be true.
|
2. |
“Social Engineering Fraud” means the intentional misleading of an Employee through the use of a Communication, where such Communication:
|
(a) |
is transmitted to the Employee in writing, by voice over the telephone, or by Electronic Transmission;
|
(b) |
is made by an individual who purports to be (i) an Employee who is duly authorized by the Insured to instruct another Employee to transfer, pay, or deliver money, or (ii) an officer or employee of
a Vendor who is duly authorized by the Insured to instruct an Employee to transfer, pay, or deliver money; and
|
(c) |
is unauthorized, dishonest or fraudulent and is made with the manifest intent to deceive.
|
3. |
“Social Engineering Security Procedures” means security procedures intended to prevent Social Engineering Fraud as set forth in the Application and/or as otherwise provided in writing to the
Underwriter.
|
4. |
“Vendor” means any entity or individual that provides goods or services to the Insured under a pre-existing, written agreement.
|
INSURED
Neuberger Berman Investment Advisers LLC |
BOND NUMBER
87164124B
|
|
EFFECTIVE DATE
April 30, 2024
|
BOND PERIOD
April 30, 2024 to April 30, 2025
|
AUTHORIZED REPRESENTATIVE
/S/ Catherine Dalton
|
|
|
|
1. |
Interpretation: This rider shall be interpreted with due regard to the intention of the
parties, which is to provide specified Bond coverage to (a) Foreign Entities and (b) U.S. Entities for Financial Interest Losses, where permitted, subject to adherence to applicable laws and regulations.
|
2. |
Compliance with Applicable Laws and Regulations of Foreign Jurisdictions Regarding Use of Non-Admitted Insurance: Notwithstanding that one or more Foreign Entities may be included in the definition of “Insured” in Item 1 of the Declarations (as modified by Rider No. 1 or other rider), this Bond does not insure, and the
Underwriter shall not be required to pay any loss sustained by, or to provide any benefit hereunder to or on behalf of, any Foreign Entity if doing so would cause the Underwriter or such Foreign Entity or any Insured to be in violation of
applicable laws or regulations of any Associated Foreign Jurisdiction regarding the use of Non-Admitted Insurance or the making or acceptance of payments thereunder (“Prohibited Associated Foreign Jurisdiction”). Examples of Prohibited
Associated Foreign Jurisdictions to which this Part 2 applies shall include but not be limited to the following jurisdictions: Japan, Brazil, India, and China.
|
3. |
Financial Interest Loss Coverage Extension: If permissible pursuant to applicable laws and regulations, a Financial Interest Loss incurred by a U.S. Entity shall be deemed to be a loss sustained by such U.S. Entity for purposes of Section 10 (“Maximum
Liability of Underwriter; Other Bonds or Policies”) of this Bond, such that coverage under this Bond may extend to a U.S. Entity for its Financial Interest Loss, subject to all of the terms, conditions and limitations of this Bond
(including all terms, conditions and limitations of this rider).
|
4. |
Good Faith Efforts to Resolve Questions: In the event that issues arise regarding the application of Part 2 or Part 3 of this rider in the context of a particular situation, representatives of the Underwriter and of a U.S. Entity (acting on behalf of a Foreign Entity if
the issue involves Part 2, or on behalf of the U.S. Entity if the issue involves Part 3) shall seek in good faith to resolve such issues to their mutual satisfaction. If the representatives cannot reach a mutually acceptable resolution on
their own, they shall in good faith consider soliciting expert outside
|
guidance to assist them in resolving the issues, with the costs and fees of such expert to be shared equally as between the Underwriter and the
U.S. Entity. If the representatives are unable to resolve the issues following these good faith efforts to do so, nothing herein shall preclude the U.S. Entity or the Underwriter from thereafter commencing a judicial proceeding to
resolve the issues, provided, however, that such a proceeding (i) may not be commenced earlier than ninety (90) days after the representatives have completed the good faith efforts described herein, and (ii) must be in compliance with
Part 5.d of this rider.
|
5. |
Additional Matters:
|
a. |
Locally Admitted Insurance: Without otherwise limiting Section 11 (“Other Insurance”) of this Bond or the terms (including, without limitation, Parts 2 and 3) of this rider, any coverage that may otherwise be available under this rider and
this Bond for (1) any loss sustained by any Foreign Entity, and/or (2) any Financial Interest Loss sustained by any U.S. Entity, shall be specifically excess of, and shall not contribute with, any coverage available under any Locally
Admitted Insurance. A Foreign Entity or U.S. Entity may, however, credit any amount recovered under any Locally Admitted Insurance against the Deductible Amount applicable to a related loss or Financial Interest Loss for which coverage is
available under this Bond and this rider, provided that such recovered amount constitutes loss for which coverage would otherwise have been available under the terms of both this rider and Bond.
|
b. |
U.S. Entity as Representative: Notwithstanding anything to the contrary in the first
paragraph of Section 4 of this Bond, unless otherwise agreed to by the Underwriter in writing: (1) a U.S. Entity shall act on behalf of all Foreign Entities with respect to all information or payments provided to or by the Underwriter
under this Bond; (2) a Foreign Entity shall have no right to provide any such information or payments directly to, or to receive any such information or payments directly from, the Underwriter; and (3) the Underwriter shall have no
obligation to receive any information or payments directly from, or to provide any such information or payments directly to, any Foreign Entity. The “information or payments” referenced above shall include, without limitation: notice and
an affirmative proof of loss under Section 4 of this Bond; notice of termination under Section 13 of this Bond; notice of a change in control under Section 17 of this Bond; information, assistance, and cooperation to the Underwriter with
regard to the Application or any Bond claim; premiums payable and any return premiums that may be due under this Bond; any loss that may be payable under this Bond; any riders issued to form a part of this Bond; and the exercising or
declining the exercise of any right to a discovery period under Section 14 of this Bond.
|
c. |
Treatment of Financial Interest Loss: As the context and logic may demand or suggest, the duties, obligations and rights of Insureds and the Underwriter under this Bond with regard to a loss shall be deemed to apply to a U.S. Entity with regard to a
Financial Interest Loss. Thus, by way of illustration, and without limitation:
|
(1) |
Duties and Obligations of a U.S. Entity: Bond provisions obligating Insureds to provide
notice and proof of loss (Section 4), to reimburse the Underwriter for a recovery (Section 8), and to take action upon detection that an Employee has committed any Dishonest or Fraudulent Act(s) (Section 13), shall apply to a U.S. Entity
with respect to any matter involving a Foreign Entity that may result in a Financial Interest Loss.
|
(2) |
Deductibles: Bond provisions regarding Deductible Amounts (Section 12) shall apply to a
Financial Interest Loss.
|
(3) |
Discovery Period: Bond provisions affording Insureds with rights to a discovery period
(Section 14) shall apply to a U.S. Entity with respect to any matter involving a Foreign Entity that may result in a Financial Interest Loss.
|
(4) |
Sanctions: Bond provisions relating to violations of applicable trade or economic
sanctions, laws or regulations (Section 19) shall apply to a Financial Interest Loss.
|
d. |
Actions Against the Underwriter: No action involving any Foreign Entity as a party, or
otherwise relating to any Foreign Entity, may be brought against the Underwriter anywhere other than in a court within the State of Vermont in the United States of America. In the case of any such action, this policy shall be governed by
and construed and enforced only in accordance with the internal laws of the State of Vermont (without reference to choice of law doctrine applicable in such state), and the English text as it appears in this Bond.
|
e. |
Definition of “Fund” or “Investment Company”: With regard to loss sustained by a Foreign
Entity or a Financial Interest Loss, the term “Fund” or “Investment Company,” except as used in Sections 12, 13, 16, and 18 of this Bond, shall be deemed to include any Foreign Entity that is a Foreign Fund.
|
f. |
Definition of “Self-Regulatory Organization”: With regard to loss sustained by a Foreign
Entity or a Financial Interest Loss, the term “Self-Regulatory Organization,” as used in Insuring Agreement B., Audit Expense, Insuring Agreement F.,
Securities, and Section 2.E of this Bond only, shall be deemed to include any association or organization of investment advisers or securities dealers registered or authorized under the securities laws of a Foreign Jurisdiction or any
securities exchange registered with any Foreign Jurisdiction.
|
g. |
Termination: Notwithstanding anything to the contrary in Section 13 (“Termination”) or any
other provision of this Bond, this Bond shall terminate immediately as to any Foreign Entity without prior notice to such Foreign Entity:
|
(1) |
if there is a change in control (as defined in Section 17 of this Bond) of such Foreign Entity by transfer of its outstanding voting securities or otherwise, or
|
(2) |
if such Foreign Entity shall merge or consolidate with an entity such that the Foreign Entity is the surviving entity, or purchase or otherwise acquire any other entity or substantially all the
assets of another entity, or acquire or create a Subsidiary or separate investment portfolio,
|
h. |
Title and Headings: The title and headings in this rider are included solely for
convenience and shall not themselves be deemed to be terms or conditions of coverage, or descriptions or interpretations thereof.
|
a. |
“Associated Foreign Jurisdiction” means a Foreign Jurisdiction in which a Foreign Entity is (1) organized; (2) domiciled; or (3) is operating or conducting business.
|
b. |
“Financial Interest Loss” means the actual financial loss that a U.S. Entity itself sustains from Foreign Entity Loss incurred by a Foreign Entity, which financial loss is sustained by the U.S.
Entity solely and directly as a result of:
|
(1) |
its financial interest in such Foreign Entity; and/or
|
(2) |
any lawful pre-existing obligation it has to indemnify such Foreign Entity for all or part of such Foreign Entity Loss.
|
c. |
“Foreign Entity” means:
|
(1) |
any Non-Fund included as an Insured in Item No. 1 of the Declarations (as modified by Rider No. 1 or other rider) that (i) is a Subsidiary of a U.S. Entity, (ii) is organized or domiciled in a
Foreign Jurisdiction, and (iii) is not a Foreign Fund;
|
(2) |
any Foreign Fund included as an “Insured” in Item No. 1 of the Declarations (as modified by Rider No. 1 or other rider); and
|
(3) |
a U.S. Entity, but only insofar as such U.S. Entity conducts business through a branch in or undertakes any other operations in a Foreign Jurisdiction.
|
d. |
“Foreign Entity Loss” means that part of the loss, liability or expense incurred by a Foreign Entity (net of any sums available therefor to that Foreign Entity under any Locally Admitted Insurance)
which would have been payable under this Bond but for the fact that Part 2 of this rider is applicable.
|
e. |
“Foreign Fund” means any entity included as an Insured in Item No. 1 of the Declarations (as modified by Rider No. 1 or other rider) that (1) is an investment company, mutual fund, unit investment
trust, closed-end fund, mutual investment fund, investment trust or any other similar investment vehicle, (2) is not registered under the Investment Company Act of 1940, and (3) is organized or domiciled in a Foreign Jurisdiction.
|
f. |
“Foreign Jurisdiction” means a jurisdiction outside the United States of America.
|
g. |
“Locally Admitted Insurance” means any financial institution bond or similar insurance instrument issued by an insurer that is admitted, licensed or authorized in an Associated
|
Foreign Jurisdiction, which bond or instrument provides coverage to a Foreign Entity in the relevant Associated Foreign Jurisdiction.
|
h. |
“Non-Admitted Insurance” means any financial institution bond, or similar insurance instrument, to the extent that bond or instrument purports to provide coverage to a corporation or other entity
which is organized, domiciled, or otherwise operating or conducting business in a Foreign Jurisdiction in which the concerned insurer is not admitted, licensed, or authorized.
|
i. |
“Subsidiary” means any entity more than 50% of whose outstanding securities representing the right to vote for the election of directors are owned, directly or indirectly, by a U.S. Entity and/or
one or more of its Subsidiaries.
|
j. |
“U.S. Entity” means an Insured included in Item 1 of the Declarations (as modified by Rider No. 1 or other rider) that is organized or domiciled in any jurisdiction within the United States of
America.
|
Neuberger Berman Advisers Management Trust |
$1,500,000
|
Neuberger Berman Alternative Funds |
$2,500,000
|
Neuberger Berman Equity Funds |
$2,500,000
|
Neuberger Berman ETF Trust |
$1,000,000
|
Neuberger Berman Income Funds |
$2,500,000
|
Neuberger Berman Municipal Fund Inc. |
$ 900,000 |
Neuberger Berman Next Generation Connectivity Fund Inc. |
$1,250,000
|
Neuberger Berman Real Estate Securities Income Fund Inc. |
$ 600,000
|
Neuberger Berman High Yield Strategies Fund Inc. |
$ 750,000 |
Neuberger Berman Energy Infrastructure and Income Fund Inc. |
$ 900,000 |