Neuberger Berman plans absolute return fund as DFM interest grows

Neuberger Berman is to launch a manager of managers absolute return vehicle as discretionary fund managers look to re-enter the space for the first time since the financial crisis.

The Neuberger Berman Absolute Return Multi Strategy fund (ARMS) will come to market early next month in UCITS format. Managed by the firm’s alternatives investment management group, the fund will consist of segregated accounts run for Neuberger Berman by external managers. At launch, there will be seven underlying managers using a range of hedge fund strategies including equity long/short, event driven and credit relative value. The segregated mandate structure is intended to help the portfolio avoid the ‘gating’ issues that affected hedge funds during the financial crisis. Begi...