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Neuberger Berman changes names, investment strategies of some funds
By Toni Weeks
San Diego, Feb. 24 - Neuberger Berman Equity Funds announced in a 497 filing with the Securities and Exchange Commission changes to the names and investment strategies to some of its funds.
Effective April 2, the Neuberger Berman Large Cap Value Fund will change to the Neuberger Berman Value Fund.
Also effective April 2, two funds will change both their name and their investment strategy.
The Neuberger Berman Partners Fund will be changed to the Neuberger Berman Large Cap Value Fund.
The investment strategy will also change, with the fund now investing at least 80% of its net assets in large-capitalization companies, as defined as those within the range of the Russell 1000 Value Index at the time of purchase. Previously it invested mainly in stocks of mid- to large-capitalization companies.
The Neuberger Berman Regency Fund will be changed to the Neuberger Berman Mid Cap Intrinsic Value Fund.
To reflect the new name, the principal investment strategy will also change. The fund will now normally invest at least 80% of its net assets in equity securities of mid-capitalization companies, which it defines as those with a total market capitalization within the market capitalization range of the Russell Midcap Value Index at the time of purchase. Previously the percentage was not stipulated. It will also use a bottom-up, fundamental research-driven approach to identify stocks of companies that are trading below the portfolio manager's estimate of their intrinsic values and that have the potential for appreciation over time.
New York-based Neuberger Berman Management LLC serves as the funds' investment adviser.
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