Company Press Release

Neuberger Berman Launches Flexible Select Fund

All-Cap Equity Fund Seeks Attractive Risk-Adjusted Returns with Lower Volatility

Selection, review, risk-weighting and rebalancing of the fund's underlying investment managers will be overseen by an investment committee chaired by Joseph Amato, president and chief investment officer of Neuberger Berman.

NEW YORK, June 6, 2013 /PRNewswire via COMTEX/ -- Neuberger Berman Group LLC, one of the world's leading employee-controlled money managers, is pleased to introduce the Neuberger Berman Flexible Select Fund ("the Fund") (tickers:NFLIX)(tickers:NFLAX)(tickers:NFLCX), a mutual fund for U.S. investors accessing the top ideas from the less-benchmark constrained equity teams at Neuberger Berman. The Fund seeks to provide attractive risk-adjusted returns with lower volatility than the broader U.S. equity market.

Neuberger Berman Flexible Select Fund is a long-only, actively managed diversified fund that combines the top holdings from multiple higher tracking error, absolute-return oriented equity teams at the firm. The Fund will employ approximately 17-20 distinct portfolio management teams at Neuberger Berman that currently manage assets primarily for high net worth clients. The Fund also has the ability to invest in cash and bonds as necessary, based on the underlying asset allocations of the various portfolio management teams.

Selection, review, risk-weighting and rebalancing of the Fund's underlying investment managers will be overseen by an Investment Committee chaired by Joseph Amato, president and chief investment officer of Neuberger Berman.

The Neuberger Berman teams that comprise the Fund have been chosen for their attractive long-term track records, risk management, and liquidity.

"At Neuberger Berman, we have more than 40 talented teams under our roof investing globally across the market spectrum, and our new Flexible Select Fund aims to bring some of their best ideas to mutual fund investors," said Joseph Amato. "As clients are increasingly interested in outcomes, this Fund also provides the oversight of an expert investment committee to allocate and rebalance the portfolio."