Absolute return multi manager fund hits $1 billion mark as investors embrace the new breed of alternative investments

Investor demand for absolute returns has seen the Neuberger Berman Absolute Return Multi-Manager Fund exceed $1 billion in assets under management.

The fund is a U.S. mutual fund and offers U.S. investors access to top hedge fund managers at substantially lower fees and account minimums than typical hedge fund investments. Non-U.S. investors, including Australian institutional investors, are able to access the strategy via Neuberger Berman’s Irish UCITS version of this fund (the “Fund”).

The Fund is managed by members of the Neuberger Berman Alternative Investment Management team, which has significant experience managing fund-of-hedge fund strategies. The team allocates fund assets to multiple hedge fund advisers that employ distinct alternative investment strategies. The Fund does not charge performance-based management fees, offers daily liquidity, and has lower investment minimums than typical hedge funds along with full transparency of portfolio holdings.

Paul O’Halloran, Managing Director of Neuberger Berman Australia says: “The alternatives sector has undergone significant change since the global financial crisis, and the industry has seen marked improvement in the areas of cost, liquidity, transparency and corporate governance.”

“Australian investors, like those in the U.S., are seeking diversification in their alternative investment allocation, while targeting a reasonable degree of liquidity and competitive pricing. Increasingly, investors are seeing the new breed of alternative investments as a key source of alpha,” Mr. O’Halloran says.