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Press Release

Neuberger Berman Global Allocation Fund Taps Firm’s Multi-Asset Class Expertise and Breadth of Investment Experience

Media Contacts:

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

New York, January 15, 2015 — Neuberger Berman, one of the world’s leading employee-owned investment managers, is pleased to announce that the Neuberger Berman Global Allocation Fund (tickers: NGLAX, NGLCX, and NGLIX) (the “Fund”) will seek to provide further diversification across a broader set of asset classes and geographies, offering professional navigation of complex and changing global markets through an enhanced asset allocation process. These enhancements to both the investment team and strategy leverage the firm’s expanding multi-asset class capabilities and expertise.

Utilizing the talents of professionals within Neuberger Berman’s Multi-Asset Class investment team and throughout the broader Neuberger Berman organization, the Fund will have an increased focus on both strategic and tactical asset allocation decision-making, as well as fundamental security selection. The portfolio management team will guide those allocations toward underlying separate accounts and mutual funds managed by Neuberger Berman’s leading investment professionals. The Fund’s benchmark will change from 50% MSCI World Index / 50% J.P. Morgan Global Government Bond Index to 60% MSCI All Country World Index / 40% Barclays Capital Global Aggregate Bond Index, reflecting the broadened scope of asset classes and geographies.

The Fund’s investments will be managed by the firm’s most senior multi-asset specialists including: Erik Knutzen, Chief Investment Officer, Multi-Asset Class Strategies; Bradley Tank, Chief Investment Officer, Fixed Income; Wai Lee, Chief Investment Officer, Quantitative Investments; and Ajay Jain, Head of Multi-Asset Class Portfolio Management. This seasoned team of asset allocators will make allocation decisions across global markets and will be supported by the views of the firm’s Asset Allocation Committee. The team has the flexibility to be nimble and take advantage of tactical opportunities during market dislocations, in addition to optimizing its strategic outlook on a go-forward basis. Security selection decisions for certain strategies or asset classes will be directed by a select group of Neuberger Berman portfolio managers. This process brings together experienced asset allocation and security selection specialists, creating an attractive product for investors seeking total return with and the benefits of broad global diversification.

Joseph Amato, Neuberger Berman President and Chief Investment Officer said, “We have been steadily building on our multi-asset capabilities and as part of that success are augmenting this strategy to encompass more asset classes and geographies as we enhance the levers for making and implementing strategic and tactical allocation decisions.”

Erik Knutzen, Chief Investment Officer, Multi-Asset Class, added: “In the current challenging global investing environment, we believe it is important to be able to access the broadest opportunity set and to leverage the security selection skills of the firm’s seasoned investment analysts and portfolio managers.”

The Neuberger Berman Global Allocation Fund will benefit from the firm’s history of managing multi-asset class mandates for sophisticated institutional investors. These clients – including leading global sovereign wealth and retirement funds - benefit from the unique investment insights and customized investment solutions of the Neuberger Berman Multi-Asset Class team. Similarly, for this Fund, Neuberger Berman’s multidisciplinary asset allocation committee will collectively develop one-year forward-looking views on asset classes while portfolio managers regularly discuss portfolio positioning, market views and potential allocation changes.

About Neuberger Berman

Neuberger Berman is a 75-year-old 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 2,000 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 $247 billion in client assets as of September 30, 2014. For more information, please visit our website at www.nb.com.