CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS

We  consent  to the  references  to  our  firm  under  the  captions  "Financial
Highlights"   in  the   Prospectus   dated  March  1,  2000,   and  "Reports  to
Shareholders,"   "Independent   Auditors"  and  "Financial  Statements"  in  the
Statement of Additional Information dated March 1, 2000, of the Neuberger Berman
Income  Funds,  and to the  incorporation  by  reference  of our  reports  dated
December  3,  1999  with  respect  to the  financial  statements  and  financial
highlights of the Neuberger  Berman Income Funds and the Neuberger Berman Income
Managers Trust  included in the October 31, 1999 Annual Reports to  Shareholders
dated March 1, 2000,  which  Prospectus and Statement of Additional  Information
are  incorporated  by reference in the Combined  Proxy  Statement and Prospectus
included  in this  Registration  Statement  on Form N-14 (File No.  2-85229)  of
Neuberger Berman Income Funds.


                                                /s/ ERNST & YOUNG LLP
                                                ---------------------
                                                  ERNST & YOUNG LLP

Boston, Massachusetts
July 28, 2000