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Thematic Equities

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Thematic Equities

Investing for the future
Thematic Investing at Neuberger Berman
Thematic investing is about looking to the future and seeking to identify the key mega-trends impacting our society and economy. Many of these trends are driven by technology disruption, creating a rapidly unfolding race with winners and losers. We believe this creates a broad range of powerful opportunities for active investors.
Thematic Investing at Neuberger Berman
We seek to identify mega-trends and disruptions that have the ability to impact multiple sectors for many years. Our focus is on near-term inflection points that have potential to drive accelerated adoption. Investing in themes that have the power to profoundly change our lives over the long term often means they will interact and overlap, with many technologies interdependent on one another. Investors can combine or focus on specific themes and choose whether to access these on a global or more local basis.
Technological innovation in autonomous, electric and connected vehicles is having a revolutionary impact on the transportation industry moving towards safer, more efficient and environmentally-friendly solutions
As 5G connectivity replaces 4G over the next decade, we believe it will be at the heart of how our world works and that this will be an increasingly critical driver of growth for societies around the world
Global FinTech
Technology’s increasing penetration of traditional financial services can provide an opportunity to significantly expand access and lower cost for consumers
Sustainability-Themed Investing
Thematic investing can involve investing in technologies which address sustainability concerns and actively advance the United Nations’ Sustainable Development Goals. For example, 5G connectivity relates particularly strongly to SDG #9: Industry, Innovation and Infrastructure as it entails building sustainable and resilient infrastructure to support economic development with equitable access for all.

Additionally, our thematic investment specialists systematically evaluate environmental, social and governance factors as part of their investment process. Our investment solutions adhere to our Investment Criteria and exclude securities prohibited by our Enhanced Sustainable Exclusions policy. And our teams believe in substantive engagement and accountable, active ownership.

Our teams aim to invest in companies positioned to sustainably benefit from long-term structural change. Many of our thematic investment solutions have been awarded the Febelfin Label1 for sustainable and socially responsible financial products. Neuberger Berman has been awarded top scores in the most recent UN-backed Principles for Responsible Investment (PRI) assessment report for its overarching approach to ESG strategy and governance and integration across asset classes, and has also been named a Leader, a designation awarded to fewer than 1% of investment firms for excellence in ESG practices.2
Sustainable Sustainable_Development_Goals_logo_Thematic_investing_white_4
With any investment theme we consider, we look to identify the following three features:
Large addressable market with a broad investable universe
Multi-year runway with long-horizon opportunities
Near-term inflection points driving accelerating pace of change

In addition, we look to identify environmental, social and governance risks and opportunities when evaluating the themes which we believe have the potential to offer long-term sustainable growth. We believe some of these developments have the potential to profoundly change our lives over the long term.

As such, we think thematic investing can have a dramatic impact and thus it forms a core part of our equity investing platform. Our dedicated thematic and research team are focused on identifying the investment opportunities within this space:

Timothy Creedon
Hari Ramanan
Yan Taw (YT) Boon
John J. Hirt
Research Analyst
Senior Vice President
Timothy Creedon, 全球股權研究總監, 董事總經理
Timothy Creedon, CFA, Managing Director, joined the firm in 2005 and is Director of Research for the Global Equity Research Department. Prior to his appointment as Director of Research, Tim served as an equity analyst covering Consumer Staples companies for the department. Previously, he spent three years working as a sell-side research associate at Lehman Brothers, also covering consumer stocks, and two years working in the Private Equity group at Lehman Brothers, where he was responsible for analyzing and executing investments in early stage telecom/media companies. Tim began his career at Merrill Lynch, where he spent two years working in Investment Banking, covering the telecommunications industry. He is a CFA charterholder and graduated magna cum laude from Georgetown University’s School of Foreign Service with a concentration in International Economics.
Hari Ramanan, 首席投資總監—研究基金, 董事總經理

Hari Ramanan, Managing Director, joined the firm in 2019. Hari is a Portfolio Manager and CIO of Research Funds at Neuberger Berman and leads the investing activities of the firm’s research-centric core and thematic funds. Prior to joining Neuberger Berman, Hari was Managing Partner of Valarc Holdings, a long-biased hedge fund backed by endowments and foundations to invest in a concentrated portfolio of globally traded equities that it looked to own for multiple years. In addition, the firm opportunistically took short positions in individual companies globally. Before founding Valarc in 2014, he served as a Portfolio Manager and Head of International Equities at Eminence Capital, a $7 billion equity long-short investment firm investing in quality companies globally. He joined Eminence in 2007 with a mandate to spearhead the firm’s international investing efforts. Prior to Eminence, Hari was a Managing Director and Portfolio Manager at Basso Capital, a multi-strategy investment firm in Connecticut where he focused on European equity and distressed debt investments. Hari began his career at Lehman Brothers Private Equity Division in New York. He subsequently worked for Advent International, the global private equity firm, in London and focused on European buyouts. Hari earned his Bachelor of Arts, magna cum laude, in Mathematics and Economics from Knox College in 2000. Hari served on the Board of Trustees of Knox College and its Investment Committee from 2009 to 2019.

Yan Taw (YT) Boon, 研究分析總監(亞洲), 董事總經理

(溫演道) Yan Taw Boon於2013年加入路博邁,目前任職於香港,擔任亞洲研究部主管,以及自動駕駛汽車、新世代聯網、與新世代行動通訊等路博邁主題式投資組合之共同經理人。擔任亞洲研究總監之前,Yan Taw Boon曾擔任股票研究分析師,負責研究亞洲科技與電信產業。在此之前,Yan Taw Boon曾於瑞士信貸(香港)任職2.5年,擔任賣方研究分析師並負責研究亞洲科技產業。進入投資產業之前,Yan Taw Boon曾於ARM (英國)、Cadence(英國)、Broadcom(英國)與華為(香港,中國)等半導體公司擔任微處理器設計工程師,於科技產業任職時間長達9年以上。Yan Taw Boon擁有英國南安普敦大學電機學士學位與英國愛丁堡大學系統整合碩士學位。

John J. Hirt, Research Analyst, Senior Vice President
John J. Hirt, Senior Vice President, joined the firm in 2015. John is a Research Analyst for the Global Equity Research Department focusing on the Industrials sector. Previously, John spent 6 years as a Senior Equity Research Associate at Citi where he followed the Chemicals industry. Prior to that, John was a Junior Analyst at Perry Capital in New York. John received his BS in Finance and Economics from the University of Wisconsin-La Crosse and an MBA from the University of Wisconsin.
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For questions about thematic investing, contact your Neuberger Berman representative.
Key Risks

Market Risk: The risk of a change in the value of a position as a result of underlying market factors, including among other things, the overall performance of companies and the market perception of the global economy.
Liquidity Risk: The risk that the portfolio may be unable to sell an investment readily at its fair market value. In extreme market conditions this can affect the portfolio’s ability to meet redemption requests upon demand.
Emerging Markets Risk: Emerging markets are likely to bear higher risk due to a possible lack of adequate financial, legal, social, political and economic structures, protection and stability as well as uncertain tax positions which may lead to lower liquidity. The NAV of the portfolio may experience medium to high volatility due to lower liquidity and the availability of reliable information, as well as due to the portfolio's investment policies or portfolio management techniques.
Stock Connect Risk: The Shanghai/Shengzen-Hong Kong Stock Connect are relatively new trading programmes, where many of the relevant regulations are untested and subject to change at any moment as well as not as active as exchanges in more developed markets which may affect the ability to sell your shares. Additional risks need to be considered and you should refer to the ‘investment risk’ section of the prospectus for details.
Smaller Companies Risk: In respect of Portfolios which may invest in small capitalisation companies, such investments involve greater risk than is customarily associated with larger, more established companies due to the greater business risks of small size, limited markets and financial resources, narrow product lines and a frequent lack of depth of management.
Counterparty Risk: The risk that a counterparty will not fulfil its payment obligation for a trade, contract or other transaction on the due date.
Operational Risk: The risk of direct or indirect loss resulting from inadequate or failed processes, people and systems, including those relating to the safekeeping of assets or from external events.
Currency Risk: Investors who subscribe in a currency other than the base currency of the portfolio are exposed to currency risk. Fluctuations in exchange rates may affect the return on investment. If the currency of investment is different from your local currency, then you should be aware that due to exchange rate fluctuations the performance shown may increase or decrease if converted into your local currency.