Neuberger Berman Launches Multi-Asset Income Fund

Media Contact:

Alex Samuelson, 212.476.5392, Alexander.Samuelson@nb.com

New York, April 2, 2015 — Neuberger Berman, one of the world’s leading employee-owned investment managers, is pleased to announce the launch of the Neuberger Berman Multi-Asset Income Fund (tickers: NANAX, NANCX, NANIX, NRANX) (the “Fund”), which seeks to provide current income and capital appreciation by investing across a diverse range of global, income-producing asset classes.

The Fund, managed by Neuberger Berman’s experienced Multi-Asset Class investment team, will provide exposure to U.S. investment grade and high yield debt, international fixed income and emerging markets debt, U.S. and international equities, MLPs and REITs. The Fund’s investment team employs a distinct asset allocation and risk management approach and leverages the firm’s security selection expertise. The Fund will be managed to a 60% Barclays U.S. Aggregate Bond Index / 40% S&P 500 Index benchmark, with the ability to opportunistically seek distinct investment opportunities in income-producing asset classes around the globe.

The Fund’s investments are managed by: Erik Knutzen, Chief Investment Officer, Multi-Asset Class Strategies; Bradley Tank, Chief Investment Officer, Fixed Income; Wai Lee, Head of Quantitative Investments; and Ajay Jain, Head of Multi-Asset Class Portfolio Management. The Fund’s managers currently oversee approximately $2.5 billion in multi-asset portfolios for some of Neuberger Berman’s largest institutional investors globally.

Bradley Tank, Chief Investment Officer, Fixed Income said, “In a potentially rising rate environment, investors desire strategies to both diversify and manage risk, especially at a time when traditional sources of income are no longer meeting rising income needs. As a global investment manager with expertise across income-oriented strategies, we hope to meet that need with this fund.”

Erik Knutzen, Chief Investment Officer, Multi-Asset Class, added: “Multi-asset class investments are gaining importance as investors seek to navigate markets that have become increasingly complex and interconnected. The Multi-Asset Income Fund brings to bear the breadth of Neuberger’s investment platform in trying to help investors meet this challenge.”

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 18 countries, Neuberger Berman’s team is more than 2,100 professionals and the company was named by Pensions & Investments as a 2013 and 2014 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $250 billion in client assets as of December 31, 2014. For more information, please visit our website at www.nb.com.

An investor should consider the Neuberger Berman Global Allocation Fund’s investment objectives, risks, fees and expenses carefully before investing. This and other important information can be found in the Fund’s prospectus and summary prospectus, which you can obtain by calling 877.628.2583. Please read the prospectus and summary prospectus carefully before making an investment. The prospectus contains a more complete discussion of the risks of investing in the Fund.

Most of the Fund’s performance depends on what happens in the equity, fixed income and currency markets. The Fund’s use of derivative instruments and short sales will result in leverage, which amplifies the risks that are associated with these markets. The markets’ behavior can be difficult to predict, particularly in the short term. There can be no guarantee that the Fund will achieve its goal.

The Fund’s investment program requires that the Portfolio Managers understand a variety of instruments traded in markets around the world, the relationships among those instruments and markets, and their relationship to broader political and economic events and trends. A failure to properly understand those instruments or relationships, or to identify and take into account changes in their relationship, may result in losses to the Fund.

The actual risk exposure taken by the Fund in its investment program will vary over time, depending on various factors including, but not limited to, the strength of economic signals, consistency of investment views, risk forecasts, the accuracy of the overall investment models, new regulation in the U.S. and other countries and the Portfolio Managers’ asset allocation decisions. There can be no guarantee that the Portfolio Managers will be successful in their attempts to manage the risk exposure of the Fund. The Fund is a mutual fund, not a bank deposit, and is not guaranteed or insured by the Federal Deposit Insurance Corporation or any other government agency. The value of your investment may fall, sometimes sharply, and you could lose money by investing in the Fund.

The “Neuberger Berman” name and logo are registered service marks of Neuberger Berman Group LLC. “Neuberger Berman Management LLC” and the individual fund names in this piece are either service marks or registered service marks of Neuberger Berman Management LLC.

Employee ownership includes employees, recently retired employees and their permitted transferees.

©2015 Neuberger Berman Management LLC, distributor. Member FINRA. All rights reserved.