We hold the NBI Global Corporate Income Trust (NBI) in the Income Portfolio. This listed investment trust trades at a discount to NTA which is not ideal, however it is very much exposed to a large cross section of US Junk Bonds. As spreads hit record lows, the backdrop for NBI is as good as it gets in MM’s view.
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Market Matters Monthly Video Update: Portfolio Performance for November 2025
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MM plan to sell NBI to increase cash
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