According to the firm, the fund, which uses distinct alternative investment strategies, is the first such fund from an asset manager with the size and operational infrastructure of Neuberger Berman.
The Fund will be managed by Neuberger Berman Fund of Hedge Funds (FoHF) team and will provide daily liquidity, lower investment minimums ($1,000 for Class A and C shares), will deliver 1099s to shareholders, offers full transparency of portfolio holdings and does not charge a performance based management fee.
The firm has ensured return and averted risk by employing risk management and monitoring managers and strategies, said the firm.
NB Alternative Investment Management chief investment officer and managing director Eric Weinstein said the firm is pleased to introduce a fund that will offer the liquidity and accessibility of a mutual fund and the underlying investments of hedge fund strategies, all with the goal of providing attractive returns for investors.
"The fund is a well-constructed portfolio of high quality managers. We believe alternative investments can play an important role alongside long-only equities and fixed income and we are delighted to offer these strategies in a mutual fund structure," Weinstein added.
The Fund is managed by team of investment mangers, including includes Eric Weinstein, chief investment officer and managing director; Jeff Majit, managing director; Fred Ingham, managing director; David Kupperman, managing director; and Ian Haas, senior vice president.
Neuberger Berman a employee-controlled investment manager offers solutions across equities, fixed income, hedge funds and private equity, and had $199bn in assets under management as of 31 March 2012.
