Neuberger Berman brings US Large Cap Value fund to Europe

Neuberger Berman has added to its UCITS range with the launch of its US Large Cap Value strategy in Europe.

The Neuberger Berman US Large Cap Value fund, which has a track record dating back to 2012, is managed by New York-based portfolio managers Eli Salzmann and David Levine, with the support of 38 senior research analysts.

Salzmann, who has been at Neuberger Berman for 11 years, said: "As some of last year's unknowns become knowns, it is likely that the changing market environment will spur volatility, thus creating opportunities within the value investing space. We believe that equities remain the most attractive asset class over the long term, given their potential to generate capital appreciation."

He said that the fund had benefited from being positioned in more cyclical areas of the market.

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According to the latest fund factsheet, the strategy has a "distinct emphasis" on industries with capital and capacity constraints.

Levine added: "We believe inflationary expansion will continue; however, it will be volatile, the extent of which will ultimately depend on how aggressive the Fed will be in tackling rising inflation.

"While longer-duration growth stocks have been recovering since Treasury yields hit their peak in March 2021, as yields start to edge up again, we believe value is likely to reassert itself and should outperform growth on a medium-term outlook."

Jose Cosio, head of global intermediary (ex US) at Neuberger Berman, said that value sectors "have begun to turn the corner on the recent acceleration in economic growth" and forecast a "multi-year recovery for this style of investment".

"We are pleased UCITS investors now have the ability to access this proven and disciplined strategy, which is run by two highly-experienced value managers, especially as many clients are not currently showing value characteristics in their portfolios," Cosio added.

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