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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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070 O010800 Y
070 O020800 N
070 P010800 N
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 Y
070 R020800 N
071 A000800 0
071 B000800 0
071 C000800 0
071 D000800 0
072 A000800 6
072 B000800 3091
072 C000800 0
072 D000800 0
072 E000800 0
072 F000800 0
072 G000800 228
072 H000800 0
072 I000800 7
072 J000800 5
072 K000800 0
072 L000800 15
072 M000800 8
072 N000800 22
072 O000800 1
072 P000800 0
072 Q000800 0
072 R000800 4
072 S000800 10
072 T000800 0
072 U000800 0
072 V000800 0
072 W000800 309
072 X000800 609
<PAGE> PAGE 22
072 Y000800 0
072 Z000800 2482
072AA000800 4
072BB000800 0
072CC010800 0
072CC020800 0
072DD010800 2482
072DD020800 0
072EE000800 0
073 A010800 0.0146
073 A020800 0.0000
073 B000800 0.0000
073 C000800 0.0000
074 A000800 0
074 B000800 0
074 C000800 0
074 D000800 0
074 E000800 0
074 F000800 0
074 G000800 0
074 H000800 0
074 I000800 155051
074 J000800 0
074 K000800 0
074 L000800 15
074 M000800 0
074 N000800 155066
074 O000800 0
074 P000800 37
074 Q000800 0
074 R010800 0
074 R020800 0
074 R030800 0
074 R040800 98
074 S000800 0
074 T000800 154931
074 U010800 155028
074 U020800 0
074 V010800 1.00
074 V020800 0.00
074 W000800 0.9993
074 X000800 1274
074 Y000800 0
075 A000800 169962
075 B000800 0
076 000800 0.00
028 A010900 241
028 A020900 106
028 A030900 0
028 A040900 1223
028 B010900 504
<PAGE> PAGE 23
028 B020900 98
028 B030900 0
028 B040900 692
028 C010900 800
028 C020900 109
028 C030900 0
028 C040900 1693
028 D010900 478
028 D020900 103
028 D030900 0
028 D040900 535
028 E010900 704
028 E020900 95
028 E030900 0
028 E040900 800
028 F010900 525
028 F020900 105
028 F030900 0
028 F040900 1892
028 G010900 3252
028 G020900 616
028 G030900 0
028 G040900 6835
028 H000900 0
058 A000900 N
059 000900 Y
060 A000900 Y
060 B000900 Y
061 000900 2000
070 A010900 Y
070 A020900 N
070 B010900 N
070 B020900 N
070 C010900 N
070 C020900 N
070 D010900 N
070 D020900 N
070 E010900 Y
070 E020900 N
070 F010900 N
070 F020900 N
070 G010900 Y
070 G020900 N
070 H010900 N
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 Y
<PAGE> PAGE 24
070 L010900 N
070 L020900 N
070 M010900 N
070 M020900 N
070 N010900 Y
070 N020900 N
070 O010900 Y
070 O020900 N
070 P010900 N
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 Y
070 R020900 N
071 A000900 0
071 B000900 0
071 C000900 0
071 D000900 0
072 A000900 6
072 B000900 1060
072 C000900 0
072 D000900 0
072 E000900 0
072 F000900 0
072 G000900 58
072 H000900 0
072 I000900 12
072 J000900 5
072 K000900 0
072 L000900 13
072 M000900 4
072 N000900 18
072 O000900 1
072 P000900 0
072 Q000900 0
072 R000900 4
072 S000900 10
072 T000900 0
072 U000900 0
072 V000900 0
072 W000900 100
072 X000900 225
072 Y000900 85
072 Z000900 920
072AA000900 116
072BB000900 0
072CC010900 0
072CC020900 627
072DD010900 920
072DD020900 0
072EE000900 0
<PAGE> PAGE 25
073 A010900 0.2329
073 A020900 0.0000
073 B000900 0.0000
073 C000900 0.0000
074 A000900 0
074 B000900 0
074 C000900 0
074 D000900 0
074 E000900 0
074 F000900 0
074 G000900 0
074 H000900 0
074 I000900 40945
074 J000900 0
074 K000900 16
074 L000900 28
074 M000900 0
074 N000900 40989
074 O000900 0
074 P000900 10
074 Q000900 0
074 R010900 0
074 R020900 0
074 R030900 0
074 R040900 137
074 S000900 0
074 T000900 40842
074 U010900 3817
074 U020900 0
074 V010900 10.70
074 V020900 0.00
074 W000900 0.0000
074 X000900 962
074 Y000900 0
075 A000900 42952
075 B000900 0
076 000900 0.00
028 A011000 125
028 A021000 20
028 A031000 0
028 A041000 179
028 B011000 185
028 B021000 19
028 B031000 0
028 B041000 31
028 C011000 277
028 C021000 22
028 C031000 0
028 C041000 1504
028 D011000 278
028 D021000 21
<PAGE> PAGE 26
028 D031000 0
028 D041000 144
028 E011000 207
028 E021000 20
028 E031000 0
028 E041000 162
028 F011000 207
028 F021000 19
028 F031000 0
028 F041000 1082
028 G011000 1279
028 G021000 121
028 G031000 0
028 G041000 3102
028 H001000 0
058 A001000 N
059 001000 Y
060 A001000 N
060 B001000 N
061 001000 2000
070 A011000 Y
070 A021000 N
070 B011000 N
070 B021000 N
070 C011000 Y
070 C021000 N
070 D011000 N
070 D021000 N
070 E011000 Y
070 E021000 N
070 F011000 N
070 F021000 N
070 G011000 Y
070 G021000 N
070 H011000 N
070 H021000 N
070 I011000 N
070 I021000 N
070 J011000 Y
070 J021000 N
070 K011000 Y
070 K021000 Y
070 L011000 N
070 L021000 N
070 M011000 N
070 M021000 N
070 N011000 Y
070 N021000 N
070 O011000 Y
070 O021000 N
070 P011000 N
<PAGE> PAGE 27
070 P021000 N
070 Q011000 N
070 Q021000 N
070 R011000 Y
070 R021000 N
071 A001000 0
071 B001000 0
071 C001000 0
071 D001000 0
072 A001000 6
072 B001000 253
072 C001000 0
072 D001000 0
072 E001000 0
072 F001000 0
072 G001000 14
072 H001000 0
072 I001000 2
072 J001000 5
072 K001000 0
072 L001000 10
072 M001000 3
072 N001000 0
072 O001000 1
072 P001000 0
072 Q001000 0
072 R001000 4
072 S001000 15
072 T001000 0
072 U001000 4
072 V001000 0
072 W001000 48
072 X001000 106
072 Y001000 70
072 Z001000 217
072AA001000 0
072BB001000 16
072CC011000 0
072CC021000 149
072DD011000 217
072DD021000 0
072EE001000 0
073 A011000 0.2005
073 A021000 0.0000
073 B001000 0.0000
073 C001000 0.0000
074 A001000 0
074 B001000 0
074 C001000 0
074 D001000 0
074 E001000 0
<PAGE> PAGE 28
074 F001000 0
074 G001000 0
074 H001000 0
074 I001000 9589
074 J001000 0
074 K001000 11
074 L001000 56
074 M001000 22
074 N001000 9678
074 O001000 0
074 P001000 3
074 Q001000 0
074 R011000 0
074 R021000 0
074 R031000 0
074 R041000 47
074 S001000 0
074 T001000 9628
074 U011000 977
074 U021000 0
074 V011000 9.85
074 V021000 0.00
074 W001000 0.0000
074 X001000 196
074 Y001000 0
075 A001000 10844
075 B001000 0
076 001000 0.00
SIGNATURE RICHARD RUSSELL
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Government Money Fund Semi Annual Report and is qualified
in its entirety by reference to such document.
</LEGEND>
<CIK> 0000723620
<NAME> NEUBERGER&BERMAN INCOME FUNDS
<SERIES>
<NUMBER> 01
<NAME> NEUBERGER&BERMAN GOVERNMENT MONEY FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 254,449
<RECEIVABLES> 382
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 254,831
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 583
<TOTAL-LIABILITIES> 583
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 254,268
<SHARES-COMMON-STOCK> 254,268
<SHARES-COMMON-PRIOR> 308,341
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (20)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 254,248
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,530
<OTHER-INCOME> 0
<EXPENSES-NET> (943)
<NET-INVESTMENT-INCOME> 6,587
<REALIZED-GAINS-CURRENT> (20)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 6,567
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,587)
<DISTRIBUTIONS-OF-GAINS> (4)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 362,383
<NUMBER-OF-SHARES-REDEEMED> (422,961)
<SHARES-REINVESTED> 6,505
<NET-CHANGE-IN-ASSETS> (54,097)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 4
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 943
<AVERAGE-NET-ASSETS> 281,537
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .02
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.02)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .67<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Annualized.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Municipal Securities Trust Semi Annual Report and is
qualified in its entirety by reference to such document.
</LEGEND>
<CIK> 0000723620
<NAME> NEUBERGER&BERMAN INCOME FUNDS
<SERIES>
<NUMBER> 09
<NAME> NEUBERGER&BERMAN MUNICIPAL SECURITIES TRUST
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 40,945
<RECEIVABLES> 44
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 40,989
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 147
<TOTAL-LIABILITIES> 147
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 41,605
<SHARES-COMMON-STOCK> 3,817
<SHARES-COMMON-PRIOR> 4,092
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (994)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 231
<NET-ASSETS> 40,842
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,060
<OTHER-INCOME> 0
<EXPENSES-NET> (140)
<NET-INVESTMENT-INCOME> 920
<REALIZED-GAINS-CURRENT> 116
<APPREC-INCREASE-CURRENT> (627)
<NET-CHANGE-FROM-OPS> 409
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (920)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 299
<NUMBER-OF-SHARES-REDEEMED> (631)
<SHARES-REINVESTED> 57
<NET-CHANGE-IN-ASSETS> (3,478)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (1,110)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 225
<AVERAGE-NET-ASSETS> 42,952
<PER-SHARE-NAV-BEGIN> 10.83
<PER-SHARE-NII> .23
<PER-SHARE-GAIN-APPREC> (.13)
<PER-SHARE-DIVIDEND> (.23)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.70
<EXPENSE-RATIO> .65<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Annualized.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Municipal Money Fund Semi Annual Report and is qualified
in its entirety by reference to such document.
</LEGEND>
<CIK> 0000723620
<NAME> NEUBERGER&BERMAN INCOME FUNDS
<SERIES>
<NUMBER> 08
<NAME> NEUBERGER&BERMAN MUNICIPAL MONEY FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 155,051
<RECEIVABLES> 15
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 155,066
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 135
<TOTAL-LIABILITIES> 135
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 155,028
<SHARES-COMMON-STOCK> 155,028
<SHARES-COMMON-PRIOR> 160,908
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (97)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 154,931
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,091
<OTHER-INCOME> 0
<EXPENSES-NET> (609)
<NET-INVESTMENT-INCOME> 2,482
<REALIZED-GAINS-CURRENT> 4
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 2,486
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,482)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 139,349
<NUMBER-OF-SHARES-REDEEMED> (147,678)
<SHARES-REINVESTED> 2,449
<NET-CHANGE-IN-ASSETS> (5,876)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (101)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 609
<AVERAGE-NET-ASSETS> 169,962
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .01
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.01)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .72<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Annualized.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Limited Maturity Bond Fund Semi Annual Report and is
qualified in its entirety by reference to such document.
</LEGEND>
<CIK> 0000723620
<NAME> NEUBERGER&BERMAN INCOME FUNDS
<SERIES>
<NUMBER> 06
<NAME> NEUBERGER&BERMAN LIMITED MATURITY BOND FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 293,023
<RECEIVABLES> 378
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 293,401
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 785
<TOTAL-LIABILITIES> 785
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 304,826
<SHARES-COMMON-STOCK> 29,527
<SHARES-COMMON-PRIOR> 30,567
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (148)
<ACCUMULATED-NET-GAINS> (7,082)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (4,980)
<NET-ASSETS> 292,616
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9,946
<OTHER-INCOME> 0
<EXPENSES-NET> (1,046)
<NET-INVESTMENT-INCOME> 8,900
<REALIZED-GAINS-CURRENT> 1,389
<APPREC-INCREASE-CURRENT> (5,601)
<NET-CHANGE-FROM-OPS> 4,688
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,900)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,810
<NUMBER-OF-SHARES-REDEEMED> (6,591)
<SHARES-REINVESTED> 741
<NET-CHANGE-IN-ASSETS> (14,795)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (8,471)
<OVERDISTRIB-NII-PRIOR> (148)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,054
<AVERAGE-NET-ASSETS> 300,541
<PER-SHARE-NAV-BEGIN> 10.06
<PER-SHARE-NII> .30
<PER-SHARE-GAIN-APPREC> (.15)
<PER-SHARE-DIVIDEND> (.30)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.91
<EXPENSE-RATIO> .70<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Annualized.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Ultra Short Bond Fund Semi Annual Report and is qualified
in its entirety by reference to such document.
</LEGEND>
<CIK> 0000723620
<NAME> NEUBERGER&BERMAN INCOME FUNDS
<SERIES>
<NUMBER> 05
<NAME> NEUBERGER&BERMAN ULTRA SHORT BOND FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 95,909
<RECEIVABLES> 296
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 96,205
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 213
<TOTAL-LIABILITIES> 213
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 101,245
<SHARES-COMMON-STOCK> 10,157
<SHARES-COMMON-PRIOR> 10,551
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (4,821)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (432)
<NET-ASSETS> 95,992
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,004
<OTHER-INCOME> 0
<EXPENSES-NET> (316)
<NET-INVESTMENT-INCOME> 2,688
<REALIZED-GAINS-CURRENT> (161)
<APPREC-INCREASE-CURRENT> (616)
<NET-CHANGE-FROM-OPS> (1,911)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,688)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,809
<NUMBER-OF-SHARES-REDEEMED> (2,450)
<SHARES-REINVESTED> 247
<NET-CHANGE-IN-ASSETS> (4,530)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (4,660)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 417
<AVERAGE-NET-ASSETS> 97,382
<PER-SHARE-NAV-BEGIN> 9.53
<PER-SHARE-NII> .26
<PER-SHARE-GAIN-APPREC> (.08)
<PER-SHARE-DIVIDEND> (.26)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.45
<EXPENSE-RATIO> .65<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Annualized.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Cash Reserves Semi Annual Report and is qualified in
its entirety by reference to such document.
</LEGEND>
<CIK> 0000723620
<NAME> NEUBERGER&BERMAN INCOME FUNDS
<SERIES>
<NUMBER> 04
<NAME> NEUBERGER&BERMAN CASH RESERVES
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 455,783
<RECEIVABLES> 334
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 456,117
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 597
<TOTAL-LIABILITIES> 597
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 455,529
<SHARES-COMMON-STOCK> 455,529
<SHARES-COMMON-PRIOR> 408,888
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (9)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 455,520
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 12,236
<OTHER-INCOME> 0
<EXPENSES-NET> (1,429)
<NET-INVESTMENT-INCOME> 10,807
<REALIZED-GAINS-CURRENT> 5
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 10,812
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (10,807)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 386,977
<NUMBER-OF-SHARES-REDEEMED> (350,946)
<SHARES-REINVESTED> 10,610
<NET-CHANGE-IN-ASSETS> 46,646
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (14)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,487
<AVERAGE-NET-ASSETS> 441,808
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .02
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.02)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .65<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Annualized.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman New York Insured Intermediate Fund Semi Annual Report
and is qualified in its entirety by reference to such document.
</LEGEND>
<CIK> 0000723620
<NAME> NEUBERGER&BERMAN INCOME FUNDS
<SERIES>
<NUMBER> 10
<NAME> NEUBERGER&BERMAN NEW YORK INSURED INTERMEDIATE FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 9,589
<RECEIVABLES> 67
<ASSETS-OTHER> 22
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 9,678
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 50
<TOTAL-LIABILITIES> 50
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10,091
<SHARES-COMMON-STOCK> 977
<SHARES-COMMON-PRIOR> 1,149
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (362)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (101)
<NET-ASSETS> 9,628
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 253
<OTHER-INCOME> 0
<EXPENSES-NET> (36)
<NET-INVESTMENT-INCOME> 217
<REALIZED-GAINS-CURRENT> (16)
<APPREC-INCREASE-CURRENT> (149)
<NET-CHANGE-FROM-OPS> 52
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (217)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 127
<NUMBER-OF-SHARES-REDEEMED> (311)
<SHARES-REINVESTED> 12
<NET-CHANGE-IN-ASSETS> (1,867)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (346)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 106
<AVERAGE-NET-ASSETS> 10,844
<PER-SHARE-NAV-BEGIN> 10.01
<PER-SHARE-NII> .20
<PER-SHARE-GAIN-APPREC> (.16)
<PER-SHARE-DIVIDEND> (.20)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.85
<EXPENSE-RATIO> .66<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Annualized.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Government Income Fund Semi Annual Report and is qualified
in its entirety by reference to such document.
</LEGEND>
<CIK> 0000723620
<NAME> NEUBERGER&BERMAN INCOME FUNDS
<SERIES>
<NUMBER> 07
<NAME> NEUBERGER&BERMAN GOVERNMENT INCOME FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 521
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 1,257
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (521)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 162
<OTHER-INCOME> 0
<EXPENSES-NET> (18)
<NET-INVESTMENT-INCOME> 144
<REALIZED-GAINS-CURRENT> 139
<APPREC-INCREASE-CURRENT> (1)
<NET-CHANGE-FROM-OPS> 282
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (144)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 93
<NUMBER-OF-SHARES-REDEEMED> (1,359)
<SHARES-REINVESTED> 9
<NET-CHANGE-IN-ASSETS> (11,978)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (123)<F1>
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 57
<AVERAGE-NET-ASSETS> 11,291
<PER-SHARE-NAV-BEGIN> 9.53
<PER-SHARE-NII> .12
<PER-SHARE-GAIN-APPREC> .11
<PER-SHARE-DIVIDEND> (.12)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.64<F2>
<EXPENSE-RATIO> .75<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Tax Return of Capital.
<F2>Official liquidation NAV is 9.635
<F3>Annualized.
</FN>
</TABLE>
