NLSIX | Long Short Fund
Mutual Funds | Hedge Funds & Liquid Alternatives
NLSIX | Long Short Fund
NAV
$19.66
DAILY RETURN
-0.05%
YTD RETURN
-2.14%
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Real Estate Fund*Prior to February 28, 2026, the Fund included “Neuberger Berman” in place of “Neuberger” in its name.
Why Invest
Seeks Downside Mitigation Relative to Market Indices
Short positions employed to generate alpha and reduce risk
Reduced Volatility
Seeks to participate in up markets with less volatility than the S&P 500 Index
Tenured Track Record
Investment team has been managing long/short portfolios since 2008
Fund Facts
Ticker: NLSIX
CUSIP: 64128R608
Gross Expense Ratio: 1.27%
Net Expense Ratio: 1.27%
Morningstar Category: Long-Short Equity
Fund Inception Date: 12/29/2011
Returns & Distributions
- Daily
- Month End
- Quarter End
- Calendar Year
Performance data quoted represent past performance, which is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original costs. Results are shown on a “total return” basis and include reinvestment of all dividends and capital gain distributions. Current performance may be lower or higher than the performance data quoted.
Annualized Total Returns with sales charge reflect deduction of current maximum initial sales charge of 5.75% for Class A shares of equity funds and alternative funds (except alternatives funds that invest primarily in fixed income instruments), and 4.25% for Class A shares of fixed income funds and alternative funds that primarily invest in fixed income instruments, and 2.50% for Class A shares of short-term fixed income funds and applicable contingent deferred sales charges (CDSC) for Class C shares. The maximum CDSC for Class C shares is 1%, which is reduced to 0% after 1 year. Please see each fund’s prospectus for the applicable sales charge. For funds with less than one year of performance, returns shown are cumulative rather than annualized.
Key Facts
Risk Measures
Expenses
Total net expense represents the total annual operating expenses that shareholders pay (after the effect of fee waivers and/or expense reimbursement). Neuberger Berman Investment Advisers LLC (“Manager”) contractually caps certain direct expenses of the Fund (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; consequently, total (net) expenses may exceed the contractual cap) through 10/31/2029 for Institutional Class at 1.70%, 2.06% for Class A and 2.81% for Class C (each as a % of average net assets). As of the Fund’s most recent prospectus, 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 is as of the most recent prospectus dated February 28, 2026, as amended and supplemented.
All exposure information reflects notional value of underlying securities as applicable.
All Risk Measures are calculated using the Fund’s Institutional Share Class.
Beta is a measure of market-related risk (expressed between 0-1%) of a portfolio compared to that of the overall market, as represented by an index. The lower the beta the lower the sensitivity to the movements of the market, as represented by the index.
Sharpe Ratio measures the risk-adjusted performance. The risk-free rate is subtracted from the rate of return for a portfolio and the result is divided by the standard deviation of the portfolio returns.
Standard Deviation is a statistical measure of portfolio risk. The standard deviation describes the average deviation of the portfolio returns from the mean portfolio return over a certain period of time. Standard deviation measures how wide this range of returns typically is. The wider the typical range of returns, the higher the standard deviation of returns, and the higher the portfolio risk.
Charles C. Kantor, Managing Director, joined Neuberger Berman in 2000 and currently serves as a member of the firm’s Partnership Committee. Charles is the founder and Senior Portfolio Manager of the Kantor Group, which manages over $10 billion in public equity, fixed income and private market strategies for high net worth and institutional clients. His team is also responsible for managing Neuberger Berman’s Long Short and Large Cap Growth strategy. Prior to joining the firm, Charles was a managing director of Stern Stewart’s Financial Institutions division. There he advised clients on implementing EVA-based financial management systems and co-authored academic papers in the Journal of Applied Corporate Finance. In addition, Charles is a commentator and contributor to various financial and business news media outlets. He earned a Bachelor of Commerce in Accounting and Economics from the University of Cape Town, South Africa, and an MBA (with honors) from Harvard University Graduate School of Business.
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