Neuberger Berman Mid Cap Growth Fund Surpasses $1 Billion In Assets

NEW YORK, March 18, 2014 /PRNewswire/ -- Neuberger Berman Group LLC, one of the world's leading employee-controlled investment managers, is pleased to announce that its Mid Cap Growth Fund (tickers: NMGAX, NBMBX, NMGCX, NBMLX, NMANX, NMGRX, and NRMGX) (the "Fund") has exceeded $1 billion in assets under management following investor inflows and investment gains (as of February 21, 2014).

Led by veteran manager Kenneth J. Turek, CFA, since January 31, 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 annualized through February 28, 2014, according to fund tracker Morningstar Inc. The Trust Class and Investor Class also have both outperformed their benchmark, the Russell Midcap Growth Index, for the 10 years annualized through February 28, 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 said. "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."

About Neuberger Berman
Neuberger Berman is a 75-year-old private, independent, employee-controlled investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions, advisors and individuals worldwide. With offices in 16 countries, Neuberger Berman's team is approximately 2,000 professionals and the company was named by Pensions & Investments as a 2013 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $242 billion in client assets as of December 31, 2013. For more information, please visit our website at www.nb.com

An investor should consider Neuberger Berman Mid Cap Growth Fund's investment objectives, risks and fees and expenses carefully before investing. Past performance is no guarantee of future results. This and other important information can be found in the Fund's prospectus and, if available, summary prospectus, which you can obtain by calling 877.628.2583. Please read the prospectus and, if available, the summary prospectus, carefully before making an investment.

The stocks of mid-cap companies are often more volatile and less liquid than the stocks of larger companies and may be more affected than other types of stocks by the underperformance of a sector or during market downturns. Compared to larger companies, mid-cap companies may have a shorter history of operations, and may have limited product lines, markets or financial resources.

Because the prices of most growth stocks are based on future expectations, these stocks tend to be more sensitive than value stocks to bad economic news and negative earnings surprises. Bad economic news or changing investor perceptions can negatively affect growth stocks across several industries and sectors simultaneously.

To the extent the Fund invests more heavily in particular sectors, its performance will be especially sensitive to developments that significantly affect those sectors. Individual sectors may move up and down more than the broader market. The several industries that constitute a sector may all react in the same way to economic, political or regulatory events.

Past performance is no guarantee of future results.

Performance data quoted represent past performance, which is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For performance data current to the most recent month-end, please visit www.nb.com/performance. Average Annual Total Returns with sales charge reflect deduction of current maximum initial sales charge of 5.75% for Class A shares and applicable contingent deferred sales charges (CDSC) for Class C shares. The maximum CDSC for Class C shares is 1%, which is reduced to 0% after 1 year.

Source: Morningstar, Neuberger Berman Management LLC.®

^* The inception date for Neuberger Berman Mid Cap Growth Fund Class A, Class C and Class R3 is 5/27/2009. The inception dates for Neuberger Berman Mid Cap Growth Fund Institutional, Investor, Trust, and Advisor Classes are 4/19/07, 3/1/79 (when Neuberger Berman Management Inc.® first became investment advisor to Mid Cap Growth Fund), 8/30/93, and 9/3/96, respectively. The inception date used to calculate benchmark performance is that of the Investor Class.

1. Neuberger Berman Management LLC® ("NBM") caps the Class A, C, R6, R3, and Institutional, Trust and Advisor Class expenses. Absent such arrangements, the total returns would have been less. Shares of the Classes A, C, R6, R3, and Institutional Class, Trust Class and Advisor Class may not be purchased directly from NBM; they may only be purchased through certain institutions that have entered into administrative services contracts with NBM. The inception date of Class A, C and R3 is May 27, 2009. The inception dates of the Institutional Class, Trust Class and Advisor Class are April 19, 2007, August 30, 1993, and September 3, 1996, respectively. The inception date for Class R6 shares is March 15, 2013. Performance prior to those inception dates is that of the Investor Class, which has lower expenses and typically higher returns than all other class shares. The Investor, Trust and Advisor Classes are closed to new investors.
2. The Russell Midcap® Growth Index measures the performance of the Russell Midcap® Index companies with higher price-to-book ratios and higher forecasted growth values. The Russell Midcap Index measures  the performance of the 800 smallest companies in the Russell® 1000 Index, which represents approximately 31% of the total market capitalization of the Russell 1000 Index (which, in turn, consists of the 1,000 largest U.S. companies, based on market capitalization). Please note that indices do not take into account any fees and expenses of investing in the individual securities that they track, and that individuals cannot invest directly in any index. Data about the performance of these indices are prepared or obtained by NBM and include reinvestment of all dividends and capital gain distributions. The Fund may invest in many securities not included in the above-described indices.
3. Information as of prospectus dated December 16, 2013.
4. Neuberger Berman Management contractually caps certain class expenses of the fund through 8/31/17 for Classes A, C, R3, R6 and Institutional Class.

Morningstar rankings are based on Morningstar total returns, which include both income and capital gains or losses and are not adjusted for sales charges or redemption fees ended February 28, 2014, to all funds that have the same Morningstar category. The highest percentile rank is 1 and the lowest is 100. Neuberger Berman Mid Cap Growth Fund – Trust and Investor Class were ranked in the 62^nd and 61^st percentiles for the 1-year period ending February 28, 2014, in the 71^st and 70^th percentiles for the 5-year period ended February 28, 2014 and in the 29^th and 25^th percentiles for the 10-year period ended February 28, 2014. The Morningstar mid cap growth category contains 736, 679 and 605 funds as of February 28, 2014 for the 1-, 5- and 10-year periods respectively. Ratings are ©2014 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

The "Neuberger Berman" name and logo are registered service marks of Neuberger Berman Group LLC. "Neuberger Berman Management LLC" and the individual fund names in this piece are either service marks or registered service marks of Neuberger Berman Management LLC.

©2014 Neuberger Berman Management LLC, distributor. All rights reserved.

Media Contact: Alex Samuelson, 212.476.5392, [email protected]

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SOURCE Neuberger Berman Group LLC

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