Select Your Location
View available investments and insights in your market
Americas
Europe and the Middle East
Asia Pacific

The Window for Value Is Open

The content you are trying to access is not available for the global audience. It is available in United States.

The Value of "Value" in Today's Environment

Neuberger Berman Large Cap Value Fund (NBPIX)
★ ★ ★ ★ ★
Morningstar Rating™

Overall rating out of 1,145 Large Value Funds, based on risk-adjusted total returns. As of 6/30/22. ©2022 Neuberger Berman BD LLC.
NBPIX (Institutional Class) is subject to investor eligibility requirements. Important information on eligibility, expenses and performance for other Fund share classes can be found here: Institutional Class (NBPIX), Class A (NPNAX), Class C (NPNCX), Class R6 (NRLCX), Class R3 (NPNRX), Investor Class (NPRTX), Trust Class (NBPTX), Advisor Class (NBPBX)
DOWNLOAD FACT SHEET|DOWNLOAD PRODUCT BRIEF



Get Diversified with an Active, True Value Manager
We believe 2022 will be markedly different than last year—characterized by high asset valuations, inflation, rising rates, increasing volatility and less accommodative Fed policy. While traditional catalysts for value still exist, investing with a true value manager will be critical to help portfolios stay diversified.
Steady Flow of Assets into Large Core/Growth Categories
Large Cap Value Chart 1
Are Your Clients Overexposed to Growth?
Following the multiyear dominance of growth stocks, and with large blend and growth assets outnumbering value by almost 5:1,1 it's not surprising that individual portfolios may have become overexposed to the large cap growth names that are heavily concentrated in both the S&P 500 and Russell 1000 Growth indexes. This may leave investors' portfolios less diversified than previously thought.
S&P 500 and Russell 1000 Growth Indexes Have Considerable Overlap
Market Concentration - % of the index in the top 5 names over time2
Large Cap Value Chart 2
As of June 30, 2022.
Record Spreads Provide Attractive Entry Point for Value Investors
Large Cap Value Chart 3
Inflation Inflection: Expectations for Value
(2:22) Eli Salzmann, Lead Portfolio Manager, Large Cap Value, explains how Value can take advantage of inflation.
IN THE NEWS
Positioning for a Downturn with Value
Positioning for a Downturn with Value
 

In a recent conversation with Barron’s, Eli Salzmann Senior Portfolio Manager, Neuberger Berman Large Cap Value Fund, discussed where he is finding value today and how he believes investors could position their portfolios defensively for an impending U.S. recession.

 
Why Neuberger Berman Large Cap Value Fund (NBPIX)?
Top-Decile3 Long-Term Performance
Performance relative to Large Value peers on a 3-, 5- and 10-year basis, respectively.
Risk Mitigation
Over the last 5 years, the Fund (NBPIX) has captured 78.8% of downside versus 97.4% for the Morningstar Large Cap Value category.1
Pure-Play Value
With 579 bps and 504 bps of alpha on a 3- and 5-year basis, respectively, versus the Russell 1000 Value Index,1 the Fund (NBPIX) has historically had low exposure to growth sectors such as technology, maintaining a disciplined value approach.
NBPIX Morningstar Percentile Rankings (Periods ending June 30, 2022)4
Large Cap Value Chart 4  Chart 3
For the 5-Year Time Period Ended 6/30/22*
+504bps
ALPHA
1.00
BETA (VS. RUSSELL
1000 VALUE INDEX)
102.8%
UP-CAPTURE RATIO
78.8%
DOWN-CAPTURE RATIO
+535bps
OUTPERFORMANCE VS. RUSSELL
1000 VALUE INDEX
INSIGHTS
Large Cap Value, Inflation Fighter
Large-cap value stocks have characteristics that could make them compelling in the current environment and beyond.
READ MORE
Value Can Potentially Outperform Even if Growth Slows
We believe value is likely to outperform growth over the coming years—and threats to economic growth from inflation, rate hikes and geopolitical risks do not change our view.
READ MORE
CONTACT US
For general questions about the Large Cap Value Fund, contact your Neuberger Berman representative.
advisor@nb.com
MANAGEMENT TEAM
Eli M. Salzmann
Senior Portfolio Manager
35 Years of Industry Experience
11 Years with Neuberger Berman
David Levine
Portfolio Manager
28 Years of Industry Experience
28 Years with Neuberger Berman
Eli M. Salzmann, Senior Portfolio Manager
Eli Salzmann, Managing Director, joined the firm in January 2011. Eli is the lead Portfolio Manager for the US Large Cap Value strategies. He has been managing the Large Cap Value Institutional portfolios since March 2011 and the Large Cap Value mutual fund (NBPIX) since January 2012. Prior to joining the firm, Eli spent nearly 14 years at Lord Abbett & Co. LLC as the lead portfolio manager, partner and director of large cap value. Eli received an MBA from the New York University Stern School of Business and a BA from Princeton University.
David Levine, Portfolio Manager
David Levine, CFA, Senior Vice President, is an Associate Portfolio Manager on the Large Cap Value fund. Since joining the firm’s Risk Arbitrage group in 1995, he has held a number of other portfolio management positions for multiple portfolio management teams, serving institutional and mutual fund clients. David earned a Bachelor’s of Engineering from The Cooper Union for the Advancement of Science and Art, and has been awarded the Chartered Financial Analyst designation.