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Wednesday, February 2, 2000 Neuberger to Add Tech Fund Neuberger Berman has registered with the SEC to add a new technology fund to its fund complex. Its newest fund will be the latest in a recent line of growth additions to what traditionally had been a value shop. The new fund will be overseen by a team of analysts led by Jennifer Silver, managing director of Neuberger Berman and head of the firm's $3.0 billion Growth Equity Group.
The first growth fund for Neuberger was the revamping of its Manhattan Fund in 1997, followed soon after by the launch of Millennium Fund, a small- cap growth fund in 1998, and Century Fund, a larger- cap growth fund in late 1999. The fund expects to invest 65% of its assets in technology companies, utilizing a growth strategy and including investments in companies "in the developmental stage as well as older companies that appear poised to grow because of new products, technology or management." The fund has an expected expense ratio of 2.00%. Printed from: MFWire.com/story.asp?s=25320 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |