Performance data quoted represents 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 cost. Current performance may be lower or higher than the performance data quoted. An investor should consider a fund's investment objectives, risks and fees and expenses carefully before investing. This and other important information can be found in a fund's prospectus, which you can obtain by calling 800.366.6264 or by downloading it from the Fund Literature table. Please read it carefully before making an investment.
The NB Alternative Funds, except NB Commodity Strategy Fund, are scheduled to pay their annual tax distributions on December 23, 2019. The “ex-dividend” date for these distributions was December 20, 2019. On the “ex-dividend” date, which is the date on or after which a security is traded without a previously declared dividend or distribution, the funds’ recorded the distribution payments. This results in a reduction of the funds’ net asset value (NAV) in an amount equal to the distribution payment. As a result of any market appreciation or depreciation on December 20, 2019, a fund’s change in NAV per share may be more or less than the amount of the distribution that was booked.
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.
Results are shown on a "total return" basis and include reinvestment of all distributions including capital gains. Neuberger Berman BD LLC (the "Distributor") caps the Class A expenses of these funds. Absent this arrangement, the returns would be lower.
Shares of the Institutional Class may not be purchased directly from the Distributor; they may only be purchased through institutions or retirement plans that have entered into certain agreements with the Distributor.
Shares of the Advisor Class may not be purchased directly from the Distributor; they may only be purchased through certain institutions that have entered into administrative service contracts with the Distributor.
Results are shown on a "total return" basis and include reinvestment of all distributions including capital gains. The Distributor caps the Trust Class expenses. Absent this arrangement, the returns would be lower.
Results are shown on a "total return" basis and include reinvestment of all distributions including capital gains. The Distributor caps the R3 Class expenses of these funds. Absent this arrangement, the returns would be lower.
Except for Real Estate, Mid Cap Intrinsic Value, Mid Cap Growth, and International Large Cap Funds, performance prior to the date of predecessor Trust Class inception is of the Investor Class, which has lower expenses and typically higher returns than the Trust Class. Inception dates for the Neuberger Berman Equity Funds Trust Class are as follows: Focus, Genesis, Guardian, Mid Cap Growth, and Large Cap Value: 8/93; Socially Responsive: 3/97; International: 6/98; Small Cap Growth 11/98
In order to facilitate a comparison, the since inception date returns for market indices are computed, where applicable, from the corresponding fund's inception date. Mid Cap Growth, International Large Cap Fund, and their respective benchmark indexes' since inception returns are cumulative.
With the exception of Real Estate Fund, shares of the Equity Funds Trust Class may not be purchased directly from the Distributor; they may only be purchased through certain institutions that have entered into administrative service contracts with the Distributor.
The dates shown are for the corresponding series of Neuberger Berman Equity Funds Investor Class. Inception dates for the predecessor feeder funds of Neuberger Berman Equity Funds Advisor Class are as follows: Focus 9/96, Genesis 4/97, Guardian 9/96, Mid Cap Growth 9/96, Small Cap Growth 5/02, Large Cap Value 8/96. Performance prior to the inception dates are of the Investor Class, which has lower expenses and typically higher returns than the Advisor Class. In addition, the Distributor caps the Advisor Class expenses. Absent this arrangement, the returns would be lower.
* The inception date for Neuberger Berman Intrinsic Value Fund Class A, C and Institutional shares is May 10, 2010. Performance prior to that date is that of the Fund's predecessor, the DJG Small Cap Value Fund L.P., an unregistered partnership ("DJG Fund"); DJG Fund was the successor to the The DJG Small Cap Value Fund, an unregistered commingled investment account ("DJG Account"). The performance from 7/15/08 to 12/31/09 is that of DJG Fund and the performance from 7/8/97 (the Fund's commencement of operations) to 7/14/08 is that of DJG Account. On May 10, 2010, the DJG Fund transferred its assets to the Fund in exchange for the Fund's Institutional Class shares. The investment policies, objectives, guidelines and restrictions of the Fund are in all material respects equivalent to those of DJG Fund and DJG Account (the "Predecessors"). As a mutual fund registered under the Investment Company Act of 1940 (the "1940 Act"), the Fund is subject to certain restrictions under the 1940 Act and the Internal Revenue Code (the "Code") to which the Predecessors were not subject. Had the Predecessors been registered under the 1940 Act and been subject to the provisions of the 1940 Act and the Code, its investment performance may have been adversely affected. The performance information reflects the actual expenses of the Predecessors.
