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Rating:Two Subadvisors Leave a $1B Neuberger Fund Not Rated 4.0 Email Routing List Email & Route  Print Print
Friday, February 19, 2016

Two Subadvisors Leave a $1B Neuberger Fund

by: Neil Anderson, Managing Editor

Two subadvisors are leaving a billion-dollar Neuberger Berman mutual fund. Yet ten subadvisors, including a new one added a few months ago, will remain on the fund.

Jacob Gottlieb
Visium Asset Management
Managing Partner, Chief Investment Officer
A recent filing from the New York-based asset manager confirms that as of today Cloud Gate Capital and Visium Asset Management no longer subadvise the two-star, neutral-rated Neuberger Berman Absolute Return Multi-Manager Fund.

Spokespeople for Neuberger and Visium declined to comment on the changes. MFWire could not immediately reach Jacob Gottlieb (managing partner and chief investment officer at New York-based Visium) or Brian Newman (PM at Chicago-based Cloud Gate) for comment.

The strategy had $1.8 billion in AUM, including $1.3 billion in the mutual fund, as of its Q42015 fact sheet. The sheet lists Visium's event driven strategy as accounting for 4.2 percent of the fund's portfolio and Cloud Gate's equity long/short strategy as 3.7 percent; those allocations translate into about $75.6 billion (of the whole $1.8 billion strategy) and $66.6 million each, respectively.

Brian Newman
Cloud Gate Capital
Co-Founder, Portfolio Manager
The remaining subadvisors on the fund include: Blue Jay Capital Management, Cramer Rosenthal McGlynn, Gamco, Good Hill Partners, GSA Capital Partners, Lazard, Levin Capital Stratgies, Sound Point Capital Management, TPH Asset Management, and the recent addition, Portland Hill Capital

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