Neuberger launches quasi retail FoHF

Thu Jun 14, 2012

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Neuberger Berman Group has launched the Neuberger Berman Absolute Return Multi-Manager Fund, its first fund of funds to employ a mutual fund structure. One of the most interesting characteristics is that the quasi-retail FoHF will not have a performance-based management fee.

The fund of funds, which will be managed by the Neuberger Berman fund of hedge funds team that runs $3 billion in multi-manager assets, will seek capital appreciation with an emphasis on absolute returns by allocating its assets to multiple hedge fund advisers that employ distinct alternative investment strategies.

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