Neuberger Berman Socially Responsive Fund Marks 20-Year Anniversary with Index-Beating Long-Term Performance

An investor should consider Neuberger Berman Socially Responsive 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 for free by calling 877.628.2583 or by visiting www.nb.com/performance. Please read it carefully before making an investment.

Mid-capitalization stocks are more vulnerable to financial risks and other risks than larger stocks. They are generally less liquid than larger stocks, so their market prices tend to be more volatile. Large-cap stocks are subject to all the risks of stock market investing, including the risk that they may lose value.

Investing in foreign securities involves greater risks than investing in securities of U.S. issuers, including currency fluctuations, interest rates and political conditions. Uncertainty in the markets and international events may cause markets to fluctuate dramatically.

With a value approach, there is the rule that stocks may remain undervalued during a given period. This may happen because value stocks lose favor with investors or because of a failure to anticipate which stocks or industries would benefit from changing market or economic conditions.

The Fund may use certain practices and invest in certain securities involving additional risks. Borrowing, securities lending and using derivatives could create leverage, meaning that certain gains or losses could be amplified, increasing share price movements. In using certain derivatives to gain stock market exposure for excess cash holdings, the Fund increases its risk of loss.

The Fund’s social policy could cause it to underperform similar funds that do not have a social policy. Among the reasons for this are: undervalued stocks that do not meet the social criteria could outperform those that do, economic or political changes could make certain companies less attractive for investment or the social policy could cause the Fund to sell or avoid stocks that subsequently perform well.

NB Socially Responsive Fund - Total Returns

  For Periods Ended December 31, 2013 Expense Ratios1
At NAV 1 Year 5 Years 10 Years Since Inception Gross Capped
NB Socially Responsive Fund Class A 37.87% 18.81% 8.10% 9.39% 1.10 N/A
NB Socially Responsive Fund Institutional Class 38.48% 19.24% 8.31% 9.49% 0.69 N/A
With Sales Charge            
NB Socially Responsive Fund Class A 29.94% 17.41% 7.46% 9.06%    
S&P 500 Index 32.39% 17.94% 7.41% 9.27%    
  1. Information as of most recent prospectuses dated December 16, 2013.

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. Results are shown on a “total return” basis and include reinvestment of all dividends and capital gain distributions. Current performance may be lower or higher than the performance data quoted. For performance data current to the most recent month-end, please visit www.nb.com/performance. Average Annual Total Returns with sales charge reflect deduction of current maximum initial sales charge of 5.75% for Class A shares.

S&P 500 Index consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market value weighted index (stock price times number of shares outstanding), with each stock’s weight in the Index proportionate to its market to its market value.

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.

©2014 Neuberger Berman Management LLC. All rights reserved.