Neuberger Berman Launches Absolute Return Oriented Fund

Jun 12 2013 | 9:51am ET

Asset management giant Neuberger Berman Group has launched a new absolute return oriented long-only fund.

The Neuberger Berman Flexible Select Fund will invest in the best ideas from the firm's absolute-return-oriented stock teams, it said. Between 17 and 20 teams will be involved, overseen by an investment committee led by Joseph Amato, the firm's chief investment officer.

Flexible Select will focus on high tracking-error ideas. Primarily an equities fund, it will also invest in cash and bonds based on the asset allocations of its various teams.

The new fund is available to U.S. investors.

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