Neuberger Berman Launches Global Long Short Fund

An Unconstrained Approach with Flexibility to Invest Long and Short in Global Equity Markets

Media Contacts:

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

New York, January 9, 2015 — Neuberger Berman, one of the world’s leading employee-owned investment managers, recently launched the Neuberger Berman Global Long Short Fund (tickers: NGBAX, NGBCX, NGBIX) (the “Fund”), as part of the firm’s continued response to growing client demand for both global and alternative equity solutions.

The Fund’s managers employ an active, unconstrained strategy that blends macro and fundamental stock analysis to build a global long short portfolio with daily liquidity, low minimum investment requirements, transparency, and regulatory oversight designed for mutual fund investors.

The Fund’s investment team is led by Daniel Geber, who joined Neuberger Berman last year as a managing director and portfolio manager to manage global equity long short strategies. Mr. Geber is a 20-year investment management veteran who most recently served as a senior asset manager at hedge fund firm GLG Partners. The team includes analysts Thuy Tran and Alan Freeman, with 15 years and 13 years of industry experience, respectively, both of whom also joined Neuberger Berman last year from GLG Partners.

“Our team has a true global perspective and an emphasis on deep research,” said Daniel Geber. “We’re delighted to bring our approach to investors in a mutual fund format with this new fund especially at a firm like Neuberger Berman that combines a focus on great investing with deep experience managing mutual funds.”

“We have been a leader when it comes to alternative investment management solutions and we’re excited to add Global Long Short,” said Joseph Amato, Neuberger Berman president and chief investment officer. “Neuberger Berman is a natural place for advisors and their clients to come for outcome-oriented solutions built to respond to today’s global market opportunity.”

The Neuberger Berman Global Long Short Fund is part of a growing suite of alternative mutual funds the firm offers U.S. investors. With a 20-year-plus history of managing alternatives portfolios, Neuberger Berman invests approximately $26 billion in alternatives globally, as of September 30, 2014, including more than $5 billion in liquid alternative mutual funds for U.S. investors.

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 2,000 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 $247 billion in client assets as of September 30, 2014. For more information, please visit our website at www.nb.com.

An investor should consider the Fund’s investment objectives, risks and 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. Investments could result in loss of principal.

The Fund’s performance will largely depend on what happens in the equity and fixed income markets. Shares of the Fund may be worth more or less upon redemption.

Stock markets are volatile and may decline significantly in response to adverse issuer, political, regulatory, market or economic developments. To the extent that the fund sells stocks before they reach their market peak, it may miss out on opportunities for higher performance.

Small- and mid-capitalization stocks trade less frequently and in lower volume than larger company stocks and thus may be more volatile and more vulnerable to financial and other risks. Large-cap stocks are subject to all the risks of stock market investing, including the risk that they may lose value.

Short sales involve selling a security the Fund does not own in anticipation that the security’s price will decline. Short sales may help hedge against general market risk to the securities held in the portfolio but theoretically present unlimited risk on an individual stock basis, since the Fund may be required to buy the security sold short at a time when the security has appreciated in value. The Fund may not always be able to close out a short position at a favorable time and price. If the Fund covers its short sale at an unfavorable price, the cover transaction is likely to reduce or eliminate any gain, or cause a loss to the Fund, as a result of the short sale. There is no guarantee that the use of long and short positions will succeed in limiting the Fund’s exposure to market movements, sector-swings or other risk factors. Because the Fund may invest the proceeds of a short sale, another effect of short selling on the Fund is similar to the effect of leverage, in that it amplifies changes in the Fund’s net asset value (“NAV”) since it increases the exposure of the Fund to the market.

Investing in foreign securities may involve greater risks than investing in securities of U.S. issuers, such as currency fluctuations, potential social, political or economic instability, restrictions on foreign investors, less stringent regulation and less market liquidity. Securities issued in emerging market countries may be more volatile and less liquid than securities issued in foreign countries with more developed economies or markets, as such governments may be less stable and more likely to impose capital controls as well as impose additional taxes and liquidity restrictions. Exchange rate exposure and currency fluctuations could erase or augment investment results.

Shares in the Fund may fluctuate based on interest rates, market condition, credit quality and other factors. In a rising interest rate environment, the value of the Fund’s fixed-income investments is likely to fall.

Derivatives may involve risks different from, and in some respects greater than, those associated with more traditional investments. Derivatives can be highly complex, can create investment leverage and may be highly volatile, and the Fund could lose more than the amount it invests. Derivative instruments and short sales may also have an effect similar to that of leverage and can result in losses to the Fund that exceed the amount originally invested in the derivative instruments.

Leverage amplifies changes in the Fund’s net asset value (“NAV”). Borrowing derivative instruments, short positions and securities lending may create leverage and can result in losses to the Fund that exceed the amount originally invested and may accelerate the rate of lasses. There can be no assurance that the Fund’s use of any leverage will be successful and there is no specified limit on the amount that the Fund’s investment exposure can exceed its net assets.

The Fund’s investments in the futures markets also introduce the risk that its futures commission merchant (“FCM”) would default on an obligation set forth in an agreement between the Fund and the FCM, including the FCM’s obligation to return margin posted in connection with the Fund’s futures contracts. The use of options involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. If the Fund’s portfolio manager applies a strategy at an inappropriate time or judges market conditions or trends incorrectly, options may lower the Fund’s return.

ETFs are subject to tracking error and may be unable to sell poorly performing stocks that are included in their index. ETFs may trade in the secondary market at prices below the value of their underlying portfolios and may not be liquid. Through its investment in exchange traded funds, the Fund is subject to the risks of the ETF’s investments, as well as to the ETF’s expenses.

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.

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