Neuberger Berman High Yield Strategies Fund is a non-diversified, closed-end fund investing in the high yield debt securities market. The Fund's investment objective is to seek high total return (income plus capital appreciation). The Fund pursues its investment objective by investing its assets primarily in high yield debt securities. At least 80% of the Fund is invested in below investment grade (high yield) debt securities (including corporate loans) of United States and foreign issuers. The Fund attempts to maintain an average (dollar-weighted) portfolio quality of B/B to Ba/BB, with less than 20% of the Fund�s portfolio composed of securities rated Caa/CCC or lower. The Fund invests in industries, such as Gaming / Lodging / Leisure, Healthcare, Media - Broadcasting / Diversified, Telecommunications, Banking / Insurance, Retail, Real Estate / Homebuilders, Automotive and Metals / Mining. The Fund�s investment advisor and administrator is Neuberger Berman Management LLC.