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Neuberger Berman launches absolute return multi-manager fund
by Atholl Simpson on Oct 31, 2013 at 10:37
Neuberger Berman has announced the launch of an absolute return multi-manager fund which invests across all markets and types of Alt Ucits strategies.
The Neuberger Berman Absolute Return Multi-Strategy fund is being launched as a Ucits vehicle following the strong interest shown for its US version, which was launched in May 2012 and currently has $300 million in assets.
The Alt Ucits multi-manager fund will be run along the same guidelines and by the US firm's alternative investment team that includes the manager quintet of David Kupperman, Jeff Majit, Ian Haas, Fred Ingham and Eric Weinstein.
According to the firm, the fund offer investors key features such as daily dealing, no performance fees, a capped total expense ratio, high levels of transparency and control of assets through the use of segregated accounts run by external managers.
The US version's current allocation shows long/short equity funds accounting for 37.6% of its exposure, followed by event driven (34.1%) and credit strategies (14.9%), according to its end of Q3 factsheet.
Commenting on the launch, co-manager Fred Ingham said: 'In the current environment of low bond yields and longer term inflation risk, as well as uncertain equity valuations, hedge funds can offer a particularly attractive alternative, with the ability to benefit from rising rates, as well as from increasing dispersion in global equity markets.'
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