Neuberger Berman Readies Multi-Strategy Fund Of Funds

Oct 15 2013 | 12:47pm ET

Neuberger Berman Group is planning a new UCITS-compliant fund of hedge funds.

The Absolute Return Multi-Strategy Fund is set to debut next month with seven underlying managers initially, Investment Week reports. The fund's money will be invested in segregated accounts, which should allow it to avoid having its money locked up by redemption restrictions.

Among the strategies included at launch will be event-driven, long/short equity and relative-value credit, aiming for a return of 5% over cash.

Increased interest from discretionary fund managers prompted the new fund, according to Tom Douie, head of European intermediary at Neuberger Berman.

"DFMs are interested again, but as a fund group it is increasingly difficult to come to the market with a '2 and 20' charging structure," he told IW.

Instead, the new fund will charge a flat 0.75% management fee, with an expected total expense ratio under 2%.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of