All information is as of September 30, 2014, except as otherwise noted.
1Includes $120.4 billion in Equity assets, $100.2 billion Fixed Income assets and $26.2 billion in Alternatives assets under management.
2As of December 19, 2014. Employee ownership includes employees, recently retired employees and their permitted transferees.
3As of September 30, 2014. AUM outperformance data is asset-weighted and based on the gross of fee performance of the firm’s traditional equity and fixed income strategies against their respective benchmarks and peer categories. Individual strategies may have experienced negative performance during certain periods of time. All AUM outperformance data is asset-weighted and based on the gross of fee performance of the firm’s traditional equity and fixed income strategies against their respective benchmarks and peer categories. Individual strategies may have experienced negative performance during certain periods of time. All performance data for NB Private Equity funds, public and private indices data is as of March 31, 2014. See Additional Disclosures for additional information regarding AUM outperformance (including 3-and 5-yr statistics) and private equity outperformance statistics. Indexes are unmanaged and are not available for direct investment. Investing entails risks, including possible loss of principal. Past performance is no guarantee of future results.
This material is provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. Information is obtained from sources deemed reliable, but there is no representation or warranty as to its accuracy, completeness or reliability. All information is current as of the date of this material and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Neuberger Berman products and services may not be available in all jurisdictions or to all client types. Investing entails risks, including possible loss of principal. Investments in hedge funds and private equity are speculative and involve a higher degree of risk than more traditional investments. Investments in hedge funds and private equity are intended for sophisticated investors only. Indexes are unmanaged and are not available for direct investment. Past performance is no guarantee of future results.
All information as of the date indicated, except as otherwise noted. Firm data reflects the collective data for the various subsidiaries of Neuberger Berman Group LLC. Firm history/timeline information dates back to the 1939 founding of Neuberger & Berman (the predecessor to Neuberger Berman LLC), and highlights key business expansions, including those that resulted from acquisitions of the various affiliated investment advisers that now comprise the firm. Investment professionals referenced include portfolio managers, research analysts/associates, traders, and product specialists and team dedicated economists/strategists. Industry averages were compiled by Neuberger Berman based on portfolio manager industry experience data as reported to eVestment and includes separate accounts, mutual funds, and other commingled funds.
Equity and Fixed Income AUM Benchmark Outperformance Note: For the period ending September 30, 2014, the percentage of total firm equity and fixed income Assets Under Management (“AUM”) that outperformed the benchmark on 10-yr; 5-yr and 3-yr basis was as follows: Total Equity and Fixed Income AUM: 10-year: 79% ; 5-year: 41%; and 3-year: 38%; Total Equity AUM: 10-year: 82% 5-year: 29%; and 3-year: 18%; and Total Fixed Income AUM: 10-year: 76%; 5-year: 62%; and 3-year: 69%. Firm equity and fixed income Assets Under Management (“AUM”) outperformance figures are based upon the aggregate assets for all Neuberger Berman LLC and Neuberger Berman Fixed Income LLC traditional equity and fixed income strategies that are included in the firm’s institutional separate account (“ISA”), managed account/wrap (“MAG”) and private asset management/high net worth (“PAM”) composites. The results are based on the overall performance of each individual investment strategy against its respective strategy benchmark, and results are asset weighted so strategies with the largest amount of assets under management have the largest impact on the results. As of 9/30/2014, eight equity teams/strategies accounted for approximately 52% of the total firm equity (PAM, ISA and MAG combined) assets reflected, and eight strategies accounted for approximately 57% of the total firm fixed income (PAM, ISA and MAG combined) assets reflected. The performance of the individual PAM equity teams/strategies is generally shown as a supplemental exhibit to the PAM Equity Composite. The respective ISA, MAG and PAM composite reports, as well as the PAM Management Team supplemental performance exhibits are available upon request. Individual strategies may have experienced negative performance during certain periods of time. Hedge fund, private equity and other private investment vehicle assets are not reflected in the AUM and product outperformance results shown. AUM outperformance for ISA, PAM and MAG strategies is based on gross of fee returns. Gross of fee returns do not reflect the deduction of investment advisory fees and other expenses. If such fees and expenses were reflected, AUM outperformance results would be lower. Investing entails risk, including possible loss of principal. Past performance is no guarantee of future results.
Private Equity Outperformance Note: The performance information includes all funds, both commingled and custom, managed by NB Alternatives Advisers LLC with vintage years of 2002 – 2012, with the exception of a closed-end, public investment company registered under the laws of Guernsey. Percentages are asset-weighted, calculated as the total invested capital of the funds whose performance exceeds their respective benchmarks divided by the total invested capital of all funds with vintage years of 2002 through 2012. The Cambridge Secondary Index was used for secondary-focused funds, the Thomson Reuters Buyout Benchmark was used for co-investment focused funds and the Cambridge Fund of Funds Index was used for commingled fund of funds and NB custom fund of fund portfolios.
This material has been issued for use by the following entities; in the U.S. and Canada by Neuberger Berman LLC, a U.S. registered investment advisor and broker-dealer and member FINRA/SIPC; in Europe, Latin America and the Middle East by Neuberger Berman Europe Limited, which is authorised and regulated by the UK Financial Conduct Authority and is registered in England and Wales, Lansdowne House, 57 Berkeley Square, London, W1J 6ER, and is also regulated by the Dubai Financial Services Authority as a Representative Office; in Australia by Neuberger Berman Australia Pty Ltd (ACN 146 033 801, AFS Licence No. 391401), which is licensed and regulated by the Australian Securities and Investments Commission to deal in, and to provide financial product advice for, certain financial products to wholesale clients; in Hong Kong by Neuberger Berman Asia Limited, which is licensed and regulated by the Hong Kong Securities and Futures Commission; in Singapore by Neuberger Berman Singapore Pte. Limited (Company No. 200821844K),which currently carries out the regulated activity of fund management under the Securities and Futures Act (Chapter 289) (“SFA”) and operates as an Exempt Financial Adviser under section 23(1)(d) of the Financial Advisers Act (Chapter 110) (“FAA”) of Singapore. Under the FAA, NB Singapore is exempted from Sections 25, 27 and 36 of the FAA, where its financial advisory service is provided to an accredited or expert investor (as defined in Section 4A of the SFA); in Taiwan to specific professional investors or financial institutions for internal use only by Neuberger Berman Taiwan Limited, which is licensed and regulated by the Financial Services Commission (“FSC”) and a separate entity and independently operated business, with FSC operating license no.:(102) FSC SICE no.011, and address at: 10F, No. 1, Songzhi Road, Taipei, Telephone number: (02) 87268280; and in Japan and Korea by Neuberger Berman East Asia Limited, which is authorized and regulated by the Financial Services Agency of Japan and the Financial Services Commission of Republic of Korea, respectively (please visit http://www.nb.com/japan/risk_eng.html for additional disclosure items required under the Financial Instruments and Exchange Act of Japan). Except for the foregoing, this material is not intended for use or distribution within or aimed at the residents of any other country or jurisdiction. This document is not an advertisement and is not intended for public use or additional distribution in the following jurisdictions: Brunei, Thailand, Malaysia and China.
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