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NEUBERGER BERMAN
Firm Profile 4Q21

For Professional Client Use Only.

 Our Investment Platform
FIRM ASSETS UNDER MANAGEMENT $ 460bn

MULTI-ASSET STRATEGIES SOLUTIONS

HEDGE FUNDS &

EQUITIES FIXED INCOME REAL ESTATE
LIQUID ALTERNATIVES
PUBLIC FUNDAMENTAL QUANTITATIVE Global Investment Grade FUNDAMENTAL QUANTITATIVE Global
MARKETS Global Non-Investment Grade U.S.
$365bn Global Global Emerging Markets Hedge Funds Commodities
Long/Short – Almanac
U.S. U.S. Municipals Liquid Alternatives Options
EAFE / Japan Emerging Markets Multi-Sector Global Macro
Emerging Markets Custom Beta Currency Risk Parity
– China Risk Premia
Thematic Strategies
MLPs

$143bn $191bn $28bn $4bn

PRIVATE
MARKETS PRIVATE EQUITY PRIVATE CREDIT SPECIALTY ALTERNATIVES PRIVATE REAL ESTATE
$95bn
Primaries Private Debt Insurance-Linked Strategies Private Real Estate – Almanac
Co-Investments Credit Opportunities Late Stage Pre-IPO Real Estate Secondaries
Secondaries Special Situations SPACs
Specialty Strategies Residential Loans
Specialty Finance
European Private Loans

$70bn $15bn $4bn $6bn

ESG INTEGRATION | GLOBAL RESEARCH CAPABILITIES | DATA SCIENCE

Asset Detail
AUM BY INVESTOR TYPE AUM BY CLIENT DOMICILE

68% Pension Funds, Sovereign Wealth Funds 65% Americas

and Other Institutions
15% EMEA
17% Financial Institutions, RIAs and Advisors
20% Asia Pacific
15% Private Client

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A Singularly Focused Investment Practice
We seek to partner with our clients to achieve their
unique investment objectives
• Aligned and engaged
• Global capabilities Firm was ranked 1st (among
organizations with over 1,000
• Breadth of independent perspectives employees) by Pensions &
• Experienced and stable Investments in their 2021
• Deep resources “Best Places to Work in Money
Management” survey, where
• Leader in ESG we have finished in the top
two since 2014.

100% INDEPENDENT,
EMPLOYEE-OWNED
25 COUNTRIES 96%
36 CITIES
ANNUALIZED
RETENTION RATE OF
Thought Leadership
SENIOR INVESTMENT
PROFESSIONALS AT Asset Allocation

~$5bn Committee Outlook

MD AND SVP LEVEL

648
SINCE BECOMING
INVESTED BY NB EMPLOYEES
AN INDEPENDENT A fundamentally robust
COMPANY IN 2009
INVESTMENT AND THEIR FAMILIES IN NB economy and a positive
PROFESSIONALS STRATEGIES/ACCOUNTS1 earnings and default outlook
make the case for holding risky
25+ years assets through 2022, in our
LEAD PORTFOLIO 3,666 view. But the likely transition
MANAGERS’ AVERAGE ENGAGEMENT MEETINGS WITH CORPORATE MANAGEMENT to structurally higher inflation
INDUSTRY EXPERIENCE TEAMS ACROSS EQUITIES AND CREDIT5 and higher interest rates, plus
the risk of central bank policy
errors, could be a recipe for
A+ 100% ~80% elevated volatility. For the Asset
Allocation Committee, that
SCORES FOR ESG APPROACH ASSETS ARE ASSETS IN INVESTMENT STRATEGIES
BY UN-SUPPORTED PRINCIPLES ESG AWARE3 THAT ARE ESG-INTEGRATED4 means 2022 is a year to focus
FOR RESPONSIBLE INVESTMENT2 on income or “carry” from risky
assets, while adjusting portfolios
to help cushion against, and
1
Employee assets include current and former employees and their family members.
take advantage of, potential
2
For illustrative and discussion purposes only. PRI grades are based on information reported directly by PRI signatories, of which investment managers totaled 1,924 for
2020. All signatories are eligible to participate and must complete a questionnaire to be included. The underlying information submitted by signatories is not audited price volatility.
by the PRI or any other party acting on its behalf. Signatories report on their responsible investment activities by responding to asset-specific modules in the Reporting
Framework. Each module houses a variety of indicators that address specific topics of responsible investment. Signatories’ answers are then assessed and results
are compiled into an Assessment Report. The Assessment Report includes indicator scores—summarizing the individual scores achieved and comparing them to the
median; section scores—grouping similar indicator scores together into categories (e.g. policy, assurance, governance) and comparing them to the median; module
scores—aggregating all the indicator scores within a module to assign one of six performance bands (from E to A+). Awards and ratings referenced do not reflect the
experiences of any Neuberger Berman client and readers should not view such information as representative of any particular client’s experience or assume that they
will have a similar investment experience as any previous or existing client. Awards and ratings are not indicative of the past or future performance of any Neuberger
Berman product or service. Moreover, the underlying information has not been audited by the PRI or any other party acting on its behalf. While every effort has been Large Color Bar - Portrait (w/Bleed)
This version will be placed on the cover of pieces that contain imagery such as Brochures and White Papers.

made to produce a fair representation of performance, no representations or warranties are made as to the accuracy of the information presented, and no responsibility
or liability can be accepted for damage caused by use of or reliance on the information contained within this report. Information about PRI grades is sourced entirely
from PRI and Neuberger Berman makes no representations, warranties or opinions based on that information.
NEUBERGER BERMAN
Asset Allocation Committee Outlook 1Q22
Hike Rates and Carry On
A fundamentally robust economy and a positive earnings and default outlook make the case for holding risky assets
through 2022, in our view. But the likely transition to structurally higher inflation and higher interest rates, plus the risk
of central bank policy errors, could be a recipe for elevated volatility. For the Asset Allocation Committee, that means
2022 is a year to focus on income or “carry” from risky assets, while adjusting portfolios to help cushion against, and

ESG Aware is defined as investment teams having access to ESG resources across the firm. As of December 31, 2021, across equities and fixed income.
take advantage of, potential price volatility.
3

4
Based on AUM as of December 31, 2020 including strategies in late or final stages of approval by firm’s ESG committee.
5
Data reported as of year-end 2020.

For Professional Client Use Only.

Talk to Neuberger Berman
For more information, please contact your Neuberger Berman representative or visit www.nb.com.

FIRM HEADQUARTERS CONTACT OUR EUROPE, MIDDLE EAST & LATAM CLIENT GROUPS:

New York* Bogota Milan*

800.223.6448 info-latam@nb.com info-italy@nb.com
Buenos Aires* Nordics
info-latam@nb.com info-nordics@nb.com
REGIONAL HEADQUARTERS
Dubai Paris*
Hong Kong* info-mena@nb.com info-france@nb.com
+852 3664 8800 Dublin Sao Paulo
London* info-ireland@nb.com info-latam@nb.com
+44 20 3214 9000 Frankfurt Tel Aviv
Tokyo* info-germany@nb.com info-telaviv@nb.com
+81 3 5218 1930 London* The Hague*
info-uk@nb.com info-benelux@nb.com
Luxembourg Zurich
info-benelux@nb.com info-switzerland@nb.com
Madrid
info-iberia@nb.com

*Portfolio Management Centre

Lar
This

All information is as of December 31, 2021 unless otherwise indicated.

Principles for Responsible Investment (PRI) 2020 Leaders’ Group: The year 2020 represents the first year that asset managers became eligible for PRI Leader designation, which
formerly included asset owners only. The new designation was awarded to only 20 of the 2100+ investment manager PRI signatories. The Leaders’ Group showcases signatories at
the cutting edge of responsible investment, and highlights trends in what they are doing. PRI uses signatories’ reporting responses and assessment data to identify those that are
doing excellent work in responsible investment – across their organizations and with a focus on a given theme each year. The 2020 theme is climate reporting. Information about
PRI Leader is sourced entirely from PRI and Neuberger Berman makes no representations, warranties or opinions based on that information.
This material is provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a
security. Information is obtained from sources deemed reliable, but there is no representation or warranty as to its accuracy, completeness or reliability. All information is current
as of the date of this material and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Neuberger Berman products
and services may not be available in all jurisdictions or to all client types. Investing entails risks, including possible loss of principal. Investments in hedge funds and private equity
are speculative and involve a higher degree of risk than more traditional investments. Investments in hedge funds and private equity are intended for sophisticated investors only.
Indexes are unmanaged and are not available for direct investment. Past performance is no guarantee of future results.
Firm data, including employee and assets under management figures, reflect collective data for the various affiliated investment advisers that are subsidiaries of Neuberger
Berman Group LLC (the “firm”). Firm history and timelines include the history and business expansions of all firm subsidiaries, including predecessor entities and acquisition
entities. Investment professionals referenced include portfolio managers, research analysts/associates, traders, and product specialists and team-dedicated economists/
strategists.
The Neuberger Berman Asset Allocation Committee reviews and sets long-term asset allocation models and establishes preferred near-term tactical asset class allocations. The
views of the Asset Allocation Committee may not reflect the views of the firm as a whole, and Neuberger Berman advisers and portfolio managers may recommend or take contrary
positions to the views of the Asset Allocation Committee.
This material is being issued on a limited basis through various global subsidiaries and affiliates of Neuberger Berman Group LLC. Please visit www.nb.com/disclosure-
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