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Press Release

Neuberger Berman Launches Multi-Asset Income Fund

Media Contact:

Alex Samuelson, 212.476.5392, Alexander.Samuelson@nb.com

New York, April 2, 2015 — Neuberger Berman, one of the world’s leading employee-owned investment managers, is pleased to announce the launch of the Neuberger Berman Multi-Asset Income Fund (tickers: NANAX, NANCX, NANIX, NRANX) (the “Fund”), which seeks to provide current income and capital appreciation by investing across a diverse range of global, income-producing asset classes.

The Fund, managed by Neuberger Berman’s experienced Multi-Asset Class investment team, will provide exposure to U.S. investment grade and high yield debt, international fixed income and emerging markets debt, U.S. and international equities, MLPs and REITs. The Fund’s investment team employs a distinct asset allocation and risk management approach and leverages the firm’s security selection expertise. The Fund will be managed to a 60% Barclays U.S. Aggregate Bond Index / 40% S&P 500 Index benchmark, with the ability to opportunistically seek distinct investment opportunities in income-producing asset classes around the globe.

The Fund’s investments are managed by: Erik Knutzen, Chief Investment Officer, Multi-Asset Class Strategies; Bradley Tank, Chief Investment Officer, Fixed Income; Wai Lee, Head of Quantitative Investments; and Ajay Jain, Head of Multi-Asset Class Portfolio Management. The Fund’s managers currently oversee approximately $2.5 billion in multi-asset portfolios for some of Neuberger Berman’s largest institutional investors globally.

Bradley Tank, Chief Investment Officer, Fixed Income said, “In a potentially rising rate environment, investors desire strategies to both diversify and manage risk, especially at a time when traditional sources of income are no longer meeting rising income needs. As a global investment manager with expertise across income-oriented strategies, we hope to meet that need with this fund.”

Erik Knutzen, Chief Investment Officer, Multi-Asset Class, added: “Multi-asset class investments are gaining importance as investors seek to navigate markets that have become increasingly complex and interconnected. The Multi-Asset Income Fund brings to bear the breadth of Neuberger’s investment platform in trying to help investors meet this challenge.”

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 18 countries, Neuberger Berman’s team is more than 2,100 professionals and the company was named by Pensions & Investments as a 2013 and 2014 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 $250 billion in client assets as of December 31, 2014. For more information, please visit our website at www.nb.com.