Benjamin H. Nahum, a managing director at Neuberger Berman who has managed the Small Cap Intrinsic Value strategy since inception in 1997, leads the team responsible for investing the new mutual fund. According to an announcement, the team’s focus is on stocks of small cap companies that trade at a significant discount to their “intrinsic value,” or their estimate of the companies’ true long-term economic value.
Performance of the strategy is well ahead of the Russell 2000 Value Index for the three, five, and 10-year annualized periods through 2009 and March 31, 2010.
In 2009, the strategy gained 59.8% net of fees, while the Russell 2000 index was up 20.6%. Year-to-date through March 31, 2010, the Small Cap Intrinsic Value strategy generated a return of 7.34% after fees, compared with the benchmark Russell 2000 Value Index, which rose 10.02%.
Intrinsic Value Fund Launched by Neuberger Berman
May 10, 2010 (PLANSPONSOR.com) - Neuberger Berman has launched the Intrinsic Value Fund (NINLX, NINAX, NINCX), based on the investment strategy of the firm’s Small Cap Intrinsic Value team, which manages approximately $800 million for institutional and individual investors.