Neuberger Berman Unveils Long/Short Mutual Fund Of Funds

Dec 20 2013 | 11:30am ET

Neuberger Berman Group has launched its second mutual fund of hedge funds.

The Neuberger Berman Long Short Multi-Manager Fund comes a year-and-a-half after the firm first entered the space with its Absolute Return Multi-Manager Fund. As the name suggests, the new fund will invest with long/short equity hedge fund managers, including Cramer Rosenthal McGlynn, Lazard Asset Management, Levin Capital Strategies, SLS Management and Turner Investments.

The new fund features a minimum investment requirement of just $1,000.

"We believe 'liquid alternatives'—hedge fund strategies in a mutual fund format—can present attractive solutions for investors who have not been able to access traditional hedge funds as well as for defined contribution plan sponsors seeking to provide their participants with a full range of investment options," David Kupperman, a managing director with Neuberger Berman's hedge fund solutions group and a co-manager of the new fund, said.

Cramer Rosenthal will handle the new fund's global investments, Levin utilities, SLS restructuring and Turner healthcare.

The Neuberger Berman Absolute Return fund has garnered $630 million in assets since its launch last year.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...