Neuberger Berman Group’s Neuberger Berman Strategic Income Fund has exceeded USD1bn in assets having more than doubled in size in just over a year.
Neuberger Berman Strategic Income Fund’s institutional class is the only one in the multisector bond category to generate top-decile rolling five-year returns over 49 consecutive months through September 2012 and was the only fund in its category to deliver a positive return in 2008, according to Morningstar.
Based on its performance (which is ahead of its benchmark and its category for the one-, three-, and five-year periods), the institutional class of the fund is ranked by Morningstar in the fifth percentile for the five-year period through 30 September out of 165 funds in the multisector bond category. Morningstar also ranks the institutional class in the 38th percentile for the one-year period among 272 funds, and in the 40th percentile over three years among 203 funds.
Shares of the fund’s class A, which launched in December 2007, are ranked in the 46th and 50th percentiles by Morningstar over one and three years respectively through 30 September 2012.
The fund is managed by Chicago-based portfolio managers and managing directors Brad Tank (pictured), Andrew Johnson, Thanos Bardas, and David Brown. Tank also serves as Neuberger Berman’s chief investment officer for fixed income, while Johnson is head of investment grade fixed income. Tank, Johnson, Bardas, and Brown also serve as managers of separate accounts for institutional clients.
"In this long-term low-interest-rate environment, bond managers have to be creative and flexible in how we manage our portfolios to achieve yield and manage risk," says Tank. "The Strategic Income Fund has done that successfully and we’re proud of the traction it has achieved in the marketplace."
