Select Your Location
View available investments and insights in your market
Europe and the Middle East
Asia Pacific

Press Release

Neuberger Berman Absolute Return Multi-Manager Fund Sees Assets Pass $1 Billion As Investors Embrace Hedge Fund Mutual Funds

Media Contacts:

Alexander Samuelson, Neuberger Berman, 212.476.5392,

NEW YORK, March 20, 2014 – Neuberger Berman Group LLC, one of the world’s leading employee-controlled investment managers, is pleased to announce that Neuberger Berman Absolute Return Multi-Manager Fund (tickers: NABAX, NABCX, NABIX, NRABX) (the “Fund”), which offers investors access to top hedge fund managers at substantially lower fees and account minimums than typical hedge fund investments, has exceeded $1 billion in assets under management.

Launched on May 15, 2012, the Fund is managed by members of the Neuberger Berman Hedge Fund Solutions team, which has significant experience managing fund-of-hedge fund strategies. The team allocates Fund assets to multiple hedge fund advisers that employ distinct alternative investment strategies. The Fund is available to retail investors, does not charge performance-based management fees, offers daily liquidity, has lower investment minimums than typical hedge funds and full transparency of portfolio holdings.

The Fund delivers true hedge fund strategies with a more attractive fee structure than traditional hedge funds. As is typical for mutual funds that employ alternative strategies, the Fund may charge a higher management fee than most traditional long-only mutual funds but the Fund does not charge a performance fee at the subadviser or overall portfolio level. This fee structure gives investors the opportunity to net more of the returns achieved by the hedge fund subadvisers. Over time, this significant reduction in fee burden should compound to the benefit of clients.

Investors are gaining exposure to alternative mutual funds directly and through retirement plans. The Fund has been adopted by plan sponsors—either directly or through financial advisors. Certain large RIAs working with small to mid-sized plan sponsors have begun to add alternatives mutual funds into their defined contribution plan’s investment line-up. Alternative funds can be used as a single investment option for plan participants or as a component within a target date solution.

“We’re gratified by the growing investor interest in the Neuberger Berman Absolute Return Multi-Manager Fund and believe alternatives strategies in a mutual fund format will increasingly be embraced by defined contribution plans as they seek to provide a full range of investment solutions to employees saving for retirement,” said David Kupperman, co-manager of the Fund.

According to fund tracker Morningstar Inc., the Fund’s Class A (NABAX), Class C (NABCX) and Institutional class (NABIX) shares rank in the 10th, 13th, and 9th percentiles, respectively, for the past one-year period through March 3, 2014, out of 271 funds in its multi-alternative category. From inception through March 3, 2014, the Fund’s NABAX, NABCX, and NABIX class shares rank in the 28th, 36th, and 25th percentiles, respectively.

About Neuberger Berman

Neuberger Berman is a 75-year-old private, independent, employee-controlled investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions, advisors and individuals worldwide. With offices in 16 countries, Neuberger Berman’s team is approximately 2,000 professionals and the company was named by Pensions & Investments as a 2013 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $242 billion in client assets as of December 31, 2013. For more information, please visit our website at