A fund managed by Neuberger Berman, which invests in hedge funds, has surpassed $1 billion in assets due to investor inflows and investment gains.
HedgeCo.net reported that the two share classes in Neuberger’s Mid-Cap Growth Fund both outperformed their benchmark for the Russell Midcap Growth for the 10 years annualized through February 28, 2014.
The fund aims to identify businesses with potential catalysts for positive market revaluation.
Fund manager Kenneth Turek said that while Neuberger does not “anticipate a repeat of 2013′s outsized returns this year,” the firm believes “that valuations remain generally reasonable and even attractive for various mid cap segments.”
With $242 billion in assets under management as of December 31, Neuberger is one of the world’s leading employee-controlled money managers. It provides solutions for fund managers across equities, fixed income, hedge funds and private equity.