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Equity Income Fund

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Equity Income Fund

Mutual Funds | Equities

Equity Income Fund

YTD RETURN

0.00%

Overview
Equity fund that seeks total return over a full market cycle and strives to deliver low volatility and higher yield compared to broad indices

Why Invest

Diverse Portfolio

Distinct mix of income-producing securities, invested primarily across dividend-paying stocks and convertible bonds

Income Focused

Outcome focused, seeking attractive current income and capital appreciation

Resilient Gains

A history of down-market outperformance with upside participation compared to the Russell 1000 Value Index

Performance and Exposure

Top 10 Holdings

As of 06/30/2025

Portfolio holdings are expressed as a percentage and are calculated by taking the market value of each holding and dividing it by the Fund's NAV. Portfolio holdings and other characteristics are current as of the date shown and are subject to change.

Fund Facts

Gross expense ratio represents the total annual operating expenses that shareholders pay (after the effect of fee waivers and/or expense reimbursement). The Fund’s Investment Manager (the “Manager”) has contractually undertaken to waive and/or reimburse certain fees and expenses of the Fund so that the total annual operating expenses are capped (excluding interest, brokerage commissions, acquired fund fees and expenses, taxes including any expenses relating to tax reclaims, dividend and interest expenses relating to short sales, and extraordinary expenses, if any) through 08/31/2028 for Institutional Class at 0.80%, 1.16% for Class A, 1.91% for Class C, and Class R3 at 1.41% (each as a % of average net assets). As of the Fund’s most recent prospectuses, the Manager was not required to waive or reimburse any expenses pursuant to this arrangement. Absent such arrangements, which cannot be changed without Board approval, the returns may have been lower. Information as of the most recent prospectuses dated December 18, 2024, as amended and supplemented.

All Risk Measures are calculated using the Fund’s Institutional Share Class.

Beta measures market-related risk. A beta less than 1 indicates the portfolio is less volatile than the index, while a beta greater than 1 indicates more volatility.

Standard Deviation measures the volatility of the Fund's and Benchmark's returns. Higher deviation indicates higher volatility and risk.

Sharpe Ratio measures the risk-adjusted return of a portfolio, calculated by dividing the excess return (portfolio annualized return minus the risk-free rate) by the portfolio standard deviation. A higher Sharpe Ratio indicates better performance.

Up Capture Ratio measures a manager's performance in up markets relative to the market by dividing the manager's return by the market's return during up periods. A value of 110 indicates the manager performs 10% better than the market.

Down Capture Ratio measures a manager’s performance in down markets relative to the market by dividing the manager's return by the market's return during down periods. A value of 90 indicates the manager's loss is 100% of the market's loss.

Active Share measures the percentage of mutual fund assets that are invested differently from the benchmark.

30-day SEC yield is similar to a yield to maturity for the entire portfolio. The formula is designated by the Securities and Exchange Commission (SEC). Past performance is no guarantee of future results. Absent any expense cap arrangement noted above, the SEC yields may have been lower. A negative 30-Day SEC yield results when a Fund’s accrued expenses exceed its income for the relevant period. Please note, in such instances the 30-day SEC yield may not equal the Fund’s actual rate of income earned and distributed by the fund and therefore, a per-share distribution may still be paid to shareholders. The unsubsidized 30-day SEC yields for Class A, Class C, Class R3 and Institutional Class are 1.47%, 0.72%, 1.18% and 1.84% respectively.

Portfolio Management Team
Sandy Pomeroy
Senior Portfolio Manager
New York
Richard S. Levine
Senior Portfolio Manager
New York
William D. Hunter
Portfolio Manager
New York
Shawn Trudeau, CFA
Portfolio Manager
New York
Sandy Pomeroy, Senior Portfolio Manager
Sandy M. Pomeroy, Managing Director, joined the firm in 2005 and serves as a partner of the Messinger Group and co-lead senior portfolio manager on the group’s equity strategies. Prior to joining the firm, Sandy was a vice president of Equities for JP Morgan’s investment bank. From 1995 to 2000, she was a senior officer at Brown Brothers Harriman where she covered multiple sectors for its institutional sales team with a particular emphasis on energy, industrials and health care. From 1990 to 1995, Sandy was affiliated with San Jacinto Partners, a Dallas-based private equity firm, where she focused on structuring oil and gas deals. She began her career in 1983 at Salomon Brothers and then Smith Barney with the paper and forest products team and Equity Capital Markets group, respectively. In 1986 she joined the Institutional Research Sales team at Prescott, Ball & Turben. Sandy received her BA from Colgate University and has over 38 years in the investment industry. She appears as a regular guest on Bloomberg TV, CNBC and is often quoted in the Wall Street Journal and Street.com.
Richard S. Levine, Senior Portfolio Manager
Richard S. Levine, Managing Director, joined the firm in 1989. Richard is a Senior Portfolio Manager for the Messinger Group. Additionally, he has served on the Neuberger Berman Trust Company N.A. Board since its inception. Prior to joining the firm, Richard was a senior vice president, tax attorney and financial planner at Ayco Corporation. He earned a BA from the State University of New York at Binghamton and a JD from Albany Law School.
William D. Hunter, Portfolio Manager

William D. Hunter, Managing Director, joined the firm in 2006. Will is a member of the Messinger Group and serves as Portfolio Manager on the Equity Income strategy. Prior to joining the firm, Will worked at JPMorgan's Investment Bank as an analyst in Chemical Equity Research after working in Equity Specialty Sales in Energy and Industrials. Will received his BA from Columbia University.

Shawn Trudeau, CFA, Portfolio Manager
Shawn M. Trudeau, CFA, Managing Director, joined the firm in 2011. Shawn is an Associate Portfolio Manager for the Messinger Group co-managing the Neuberger Berman Equity Income Fund and Neuberger Berman Dividend Growth Fund. Prior to joining the firm, Shawn was an equity analyst in the Global Equities group of NATCAN Asset Management (now Fiera Capital) in Montreal and previously as an analyst for the U.S. Small Caps Long/Short strategy at the Caisse de Depot et Placement du Quebec. Shawn is the sitting treasurer of the Council for Canadian American Relations (CCAR) and earned an MBA from HEC Montreal and BA in Economics from Colgate University.
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