Mid Cap Intrinsic Value Fund
Private equity-style approach to investing in publicly traded mid-sized companies
- A private equity style analysis to publicly traded companies
- Highly disciplined approach to identify value and invest in change
- Led by an experienced portfolio manager with over 30 years of experience
Average Annual Total Returns
- Daily (as of )
- Monthly (as of )
- Quarterly (as of )
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.
$10,000 Hypothetical Investment
This chart shows the value of a hypothetical $10,000 investment in the Fund since inception. All results include the reinvestment of income dividends and distributions. Returns do not reflect the effect of taxes an investor would pay on Fund distributions or on the redemption of Fund shares. Results represent past performance and do not indicate future results. Performance figures would be reduced if sales charges were applied.
Calendar Year Returns
Performance figures would be reduced if sales charges were applied.
- 3-Year Risk Return Profile
- 3-Year Upside / Downside Capture
3-Year Risk Return Profile
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.
3-Year Upside / Downside Capture
Up Capture Ratio is a measure of the manager’s performance in up markets relative to the market itself. A value of 110 suggests the manager performs ten percent better than the market when the market is up. The Upside Capture Ratio is calculated by dividing the return of the manager during the up market periods by the return of the market during the same periods.
Down Capture Ratio is a measure of the manager’s performance in down markets relative to the market itself. A value of 90 suggests the manager’s loss is only nine tenths of the market’s loss. The Downside Capture Ratio is calculated by dividing the return of the manager during the down periods by the return of the market during the same periods.
For Institutional Class, Class A, Class C, Class R6, Class R3 and for Trust Class, total (net) expense represents, and Investor Class shares gross expense represents, the total annual operating expenses that shareholders pay (after the effect of fee waivers and/or expense reimbursement). The Manager contractually caps certain expenses of the Fund (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses, dividend and interest expenses relating to short sales, and extraordinary expenses, if any; consequently, total (net) expenses may exceed the contractual cap) through 08/31/2023 for Institutional Class at 0.85%, 1.21% for Class A, 1.96% for Class C, 1.46% for Class R3, 0.75% for Class R6, 1.50%, for Investor Class, 1.50%, and Trust Class at 1.25% (each as a % of average net assets). 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 13, 2019, as amended.
Figures are derived from FactSet as of 12/31/19. The Fund’s Investor Class was used to calculate beta, a measure of the magnitude of a fund’s past share price fluctuations in relation to the fluctuations in the stock market (as represented by the fund’s benchmark). While not predictive of the future, funds with a beta greater than 1 have in the past been more volatile than the benchmark, and those with a beta less than 1 have in the past been less volatile than the benchmark. Price-to-book is the ratio is used to compare a stock's market value to its book value, assessing total firm value. The ratio is calculated by taking the market value of all shares of common stock divided by the book value of the company. (Book value is the company’s total assets, less intangible assets and liabilities.) A lower price to book ratio could mean that the respective stock is undervalued. The Forward Price/Earnings (P/E) ratio is the weighted harmonic aggregate of the Forward P/E ratios of all the stocks currently held in the Portfolio. The Forward P/E ratio of a stock is calculated by dividing the current ending price of the stock by its forecasted calendar year Earnings Per Share (EPS). The forecasted EPS of a company is based on consensus estimates, not Neuberger Berman’s own projections, and it may or may not be realized. In addition, any revision to a forecast could affect the market price of a security. By quoting them herein, Neuberger Berman does not offer an opinion as to the accuracy of, and does not guarantee, these forecasted numbers. Additionally, these fund statistics are not a forecast of the Fund’s performance. The ratio shown excludes companies with negative EPS. Standard Deviationis 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. The Return on equity (ROE) is a percent yield that indicates a company’s profitability accruing to equity holders. ROE reveals how much profit a company generates with the money shareholders have invested. Return on equity is determined by dividing net income by total common equity. Active Share measures the percentage of mutual fund assets that are invested differently from the benchmark, and will range between 0% and 100%, Funds with an active share below 20% are likely to be pure index funds, while those with an active share between 20% and 60% are considered to be closet index funds. Similar to the P/E ratio, price-to-cash flow provides a measure of relative value for a company. It is equal to the current price per share divided by annual cash flow per share. This measure deals with cash flow, therefore, the effects of depreciation and other non-cash factors are removed. Price to sales is a ratio used to value a stock relative to its own past performance, other companies or the broader market. Price to sales is calculated by dividing a stock’s current price by its revenue per share for the trailing 12 months. Long-term earnings growth for the Fund is the weighted average of long-term growth rate estimates for stocks held in the Fund as of the period ended. Long-term growth rate estimates for each stock are based on the consensus median of analyst estimates of forward three- to five-year growth rates.