Neuberger Berman plans launch of Absolute Return Multi-Manager Fund

By Toni Weeks

San Diego, Jan. 18 - The Neuberger Berman Absolute Return Multi-Manager Fund has registered class A, class C and institutional class shares in an N-1A filing with the Securities and Exchange Commission in preparation for the launch of the fund.

The new fund will seek capital appreciation with an emphasis on absolute returns by allocating its assets to multiple subadvisers. This serves the purpose of providing overall investment diversification and a decrease in the fund's sensitivity to market fluctuations. The subadvisers each have a unique investment style, which may include exposure to equity securities of companies of any market capitalization throughout the world and debt securities of governments throughout the world.

The portfolio managers intend to employ long/short equity, event-driven, stressed and distressed debt, merger arbitrage, equity restructurings, capital structure arbitrage and credit long short strategies, among others.

The portfolio management team includes David Kupperman, Jeff Majit, Eric Weinstein, Ian Haas and Fred Ingham.

Shareholder fees will consist of a 5.75% maximum initial sales charge on purchases of class A shares and a 1% maximum contingent deferred sales charge of the lesser of the original purchase price and current market value of class C shares.

Management fees will be 2.26% for class A and class C shares and 2.15% for class I shares. Along with distribution fees and other expenses, and taking into a fee waiver agreement with the fund's adviser, total annual operating expenses are expected to be 2.82%, 3.57% and 2.46% for class A, class C and class I shares, respectively.

Neuberger Berman Management LLC is the fund's investment manager, and NB Alternative Investment Management LLC is its investment adviser. Both companies are based in New York.

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