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Small Cap Growth Fund

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Mutual Fund > Equity > Small Cap Growth Fund

Small Cap Growth Fund

Seeks to own great small-cap businesses with innovative products and services that are gaining market share

  • Research-driven Small Cap Growth strategy focused on identifying developing growth stories that we believe are under-owned, under-followed and offer underappreciated catalysts for future growth
  • Bottom-up fundamental approach that strives to be both active, relative to the benchmark, and well diversified
  • Led by an experienced and dedicated team, with an average of 25 years of investment experience

Pricing/Performance

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Product Characteristics

As of

Total (net) expense represents the total annual operating expenses that shareholders pay (after the effect of fee waivers and/or expense reimbursement). The Fund’s investment manager has contractually undertaken to waive and/or reimburse certain fees and expenses of the Fund so that the total annual operating expenses (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 Class A at 1.26%, Class C at 2.01%, Institutional Class at 0.90%, Class R3 at 1.51%, Advisor Class at 1.60%, Trust Class at 1.40%, Investor Class at 1.30%, and Class R6 at 0.80% (each 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 12/31/2019. 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 not a forecast of the Fund’s performance and 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. The ratio shown excludes companies with negative EPS. The long-term growth rate is calculated weekly by taking the median of all First Call contributing broker estimates of a company’s projected earnings growth over a period of two to five years. Baseline calculates a dollar-weighted figure at the beginning of each month based on the fund’s portfolio holdings. The long-term growth rate is based on projections, which may or may not be realized.

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. Sharpe Ratio is a measure of the risk adjusted return of a portfolio. The ratio represents the return gained per unit of risk taken. It is calculated by taking the excess return (annualized return less the risk free rate) divided by the standard deviation.

To calculate the Sharpe Ratio, we require the time series of returns for the portfolio and the risk free rate returns, but not a benchmark. The Sharpe ratio is useful for comparing the performance of mangers on a risk adjusted basis. The manager with the higher Sharpe Ratio is considered to have performed better taking risk into account. 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.

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.

Management Team

Kenneth Turek, CFA
Senior Portfolio Manager
36 Years of industry experience
17 Years with Neuberger Berman
Trevor Moreno, CFA
Associate Portfolio Manager1
20 Years of industry experience
6 Years with Neuberger Berman
Chad Bruso, CFA
Associate Portfolio Manager1
21 Years of industry experience
14 Years with Neuberger Berman