Neuberger Berman Mid Cap Growth Fund surpasses USD1bn in assets
Neuberger Berman Group’s Mid Cap Growth Fund has exceeded USD1bn in assets under management following investor inflows and investment gains.
Led by veteran manager Kenneth J Turek since 31 January 2003, the fund's two share classes with 10-year track records – Trust Class and Investor Class – both rank in the top third of the mid cap growth fund category for the 10 years annualised through 28 February 2014, according to fund tracker Morningstar.
The Trust Class and Investor Class also have both outperformed their benchmark, the Russell Midcap Growth Index, for the 10 years annualised through 28 February 2014.
Turek, a fundamental investor for more than 30 years, and his team of analysts seek to identify businesses with potential catalysts for positive market revaluation.
"While we don't anticipate a repeat of 2013's outsized returns this year, we believe that valuations remain generally reasonable and even attractive for various mid cap segments," Turek says. "We remain cautiously optimistic about the market and expect 2014 to be a constructive environment for mid cap growth stocks, but one more closely tied to underlying fundamentals, growth rates and a company's ability to deliver positive differentiation."
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