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Impact investing and/or Environmental, Social and Governance (ESG) managers may take into consideration factors beyond traditional financial information to select securities, which could result in relative investment performance deviating from other strategies or broad market benchmarks, depending on whether such sectors or investments are in or out of favor in the market. Further, ESG strategies may rely on certain values based criteria to eliminate exposures found in similar strategies or broad market benchmarks, which could also result in relative investment performance deviating.
THIS INFORMATION IS NOT INTENDED TO ADDRESS EVERY SITUATION, NOR IS IT INTENDED AS A SUBSTITUTE FOR LEGAL, ACCOUNTING OR FINANCIAL COUNSEL.
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. Before acting on any information furnished in this material, you should consider whether it is appropriate for your particular circumstances and, if necessary, seek legal, tax or other professional advice. 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. Diversification does not guarantee profit or protect against loss in declining markets. 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. Unless otherwise indicated, returns shown reflect reinvestment of dividends and distributions. Indexes are unmanaged and are not available for direct investment. Past performance is no guarantee of future results.
Information and characteristics about model portfolios is as of the date indicated and subject to change without notice.
Conflicts of Interest with Respect to Use of Affiliated Funds (terms not defined herein have the meanings used in the IAP brochure and or ML client agreement): There is no Style Manager Expense Rate payable to Neuberger Berman for this Strategy. In fulfilling the allocations contemplated by the Strategy, Neuberger Berman will first look to Neuberger Berman Affiliated Funds for investment solutions, and only if those funds are not appropriate will third-party funds be selected as a complement to the roster of Neuberger Berman Affiliated Funds selections. As such, all or a significant portion of the Strategy’s Portfolio will be comprised of Neuberger Berman Affiliated Funds for which it and its affiliates serve as investment manager and are compensated for services provided to the Neuberger Berman Affiliated Funds creating a conflict of interest. Clients will indirectly bear Fund expenses as shareholders for their Account assets allocated to Neuberger Berman Affiliated Funds and Funds for which Neuberger Berman and its affiliates do not receive compensation. For client Account assets allocated to Neuberger Berman Affiliated Funds, fees will be received by Neuberger Berman and its affiliates directly from the respective Neuberger Berman Affiliated Fund. Those compensation arrangements create a conflict of interest relating to Neuberger Berman's selection of Funds (including from among Neuberger Berman Affiliated Funds) for the Strategy and the receipt of potentially higher compensation based on the selection. Neuberger Berman has an incentive to select Neuberger Berman Affiliated Funds for the Strategy, including Neuberger Berman Affiliated Funds with higher expenses, over other Funds (including other Neuberger Berman Affiliated Funds) with lower expenses because the fees that Neuberger Berman and or its affiliates receive for client Account assets in the Neuberger Berman Affiliated Funds are their sole compensation with respect to the Strategy. This conflict of interest may result in a strategy that achieves a level of performance, or reflects higher fees, less favorable to the strategy than otherwise would be the case if Neuberger Berman did not allocate to a Neuberger Berman Affiliated Fund.
The “Neuberger Berman” name and logo and “Neuberger Berman Investment Advisers LLC” name are registered service marks of Neuberger Berman Group LLC.
