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Press Release

Neuberger Berman Mutual Fund Chosen As First Hedge Fund Option For Hartford Healthcare Defined Contribution Retirement Plans

Media Contact:

Alexander Samuelson, 212.476.5392,

Neuberger Berman Absolute Return Multi-Manager Fund offers Plan Participants Portfolio Diversification with an Absolute Return Focus

NEW YORK, November 22, 2013 – Neuberger Berman Group LLC, one of the world’s leading employee-controlled investment managers, is pleased to announce the selection of Neuberger Berman Absolute Return Multi-Manager Fund by Hartford HealthCare as an investment option for employees of its defined contribution plans.

Hartford, Connecticut-based Hartford HealthCare (HHC) employs approximately 18,000 people and administers a defined contribution system that includes 401(k), 403(b), and 457(b) plans, with total assets of approximately $650 million. Neuberger Berman Absolute Return Multi-Manager Fund was the sole hedge fund strategy option selected by HHC officials as part of a restructuring of its defined contribution plans. The option will become available to HHC defined contribution participants beginning January 1, 2014.

“We believe HHC is one of the first major not-for-profit institutions to introduce innovative options such as hedge funds in a mutual fund format to our employees as part of a comprehensive plan to serve their retirement needs,” said David Holmgren, HHC’s chief investment officer.

“We believe that liquid alternative mutual funds provide a logical absolute return solution to defined contribution plan participants and are honored to have Neuberger Berman Absolute Return Multi-Manager Fund selected by Hartford HealthCare,” said Joseph Amato, Neuberger Berman’s president and chief investment officer.

Neuberger Berman Absolute Return Multi-Manager Fund was introduced in May 2012 and seeks capital appreciation with an emphasis on absolute returns. The Fund allocates its assets to multiple hedge fund advisers that employ distinct alternative investment strategies and is managed by members of the Neuberger Berman Hedge Fund Solutions team. Unlike traditional hedge funds, the Fund is available to retail investors and offers daily liquidity, lower investment minimums, full transparency of portfolio holdings and does not have a performance based management fee.

About Neuberger Berman

Neuberger Berman is a private, independent, employee-controlled investment manager. It partners with institutions, advisors and individuals throughout the world to customize solutions that address their needs for income, growth and capital preservation. Neuberger Berman has more than 1,900 employees worldwide, with approximately 450 investment professionals, offering an investment culture of independent thinking. Founded in 1939, the company provides solutions across equities, fixed income, hedge funds and private equity, and had $227 billion in assets under management as of September 30, 2013. For more information, please visit our website at