The appointment of Neuberger Berman will enable Select to significantly enhance its investment and research resources, extending the depth and reach for the Select Alternatives Portfolio. Improved liquidity for the portfolio will be considered as part of the investment advisory mandate in order to better meet the needs of retail investors. 
 
Neuberger Berman, with a heritage dating back to 1939, has over 1,700 employees across 29 cities in 16 countries and manages over US$205 billion in equities, fixed income and alternative investments, with over US$17 billion in the latter.  It is a majority employee-controlled company, with more than 400 investment professionals, including over 60 in alternative investments, and currently manages assets for some of Australia’s major institutional investors. 
 
“Select and Neuberger Berman are committed to deliver an exceptional diversified alternatives portfolio for retail investors in Australia through the Select Alternatives Portfolio” said Select Chief Executive Officer, Brendan Foley.

“This relationship complements our recently announced distribution alliance with Winston Capital Partners which provides focused distribution resources for the Select Alternatives Portfolio, as well as other leading international asset managers wishing to access the Australian market, and separates this function from investment,” he said. 

“Our vision continues to be to leverage Select’s core principles of investor focus, investment rigour and original thinking in building an end-to-end, integrated investment management business.” 
 
Lucas Rooney, Managing Director of Neuberger Berman Australia, said, “We see this advisory partnership with Select as a great opportunity to broaden the accessibility of Neuberger Berman’s investment management and advisory capabilities beyond the institutional market in Australia.

“In partnering with Select, we will aim to help deliver a diversified alternatives portfolio that appeals to Select’s retail investors who are seeking diversification in their alternative investment allocation, while targeting a reasonable degree of liquidity and competitive pricing, often a challenge in alternative investments.”
 
Select Chief Investment Officer, Dominic McCormick, said: “In addition to the future contribution of Neuberger Berman Alternatives’ investment advisory services, the Select Alternatives Portfolio’s investment committee has been significantly boosted by the appointment to it of David Bell. David is well known in the industry, having been conferred a Lifetime Achievement Award by the Australian Hedge Funds Awards for his contribution to the hedge funds industry.”  
  
The Select Alternatives Portfolio was launched on 1 April 2004 in its current form as a convenient “all-in-one” solution which provides access to a diversified range of alternative investments.

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