Neuberger Berman Mid Cap Growth Fund
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
19.0%
1 yr return
34.8%
3 Yr Avg Return
1.0%
5 Yr Avg Return
11.0%
Net Assets
$1.73 B
Holdings in Top 10
23.9%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.86%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 42.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
NMANX - Profile
Distributions
- YTD Total Return 19.0%
- 3 Yr Annualized Total Return 1.0%
- 5 Yr Annualized Total Return 11.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.57%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameNeuberger Berman Mid Cap Growth Fund
-
Fund Family NameNeuberger Berman
-
Inception DateJan 03, 1994
-
Shares OutstandingN/A
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerKenneth Turek
Fund Description
To pursue its goal, the Fund normally invests at least 80% of its net assets in common stocks of mid-capitalization companies, which it defines as those with a market capitalization within the market capitalization range of the Russell Midcap® Index at the time of initial purchase. Although the Fund invests primarily in domestic securities, it may also invest in securities of foreign companies.
The Fund’s strategy utilizes a qualitative, bottom-up research driven approach to identify companies that the Portfolio Managers believe have catalysts for growth which are underappreciated by the market. The Portfolio Managers seek to invest in underappreciated companies with the following characteristics: durable and potentially unique business models and/or proficient management capable of advancing the development of and/or strengthening of sustainable and consistent revenue growth, cash flow growth, earnings growth and/or overall balance sheet strength. Such catalysts may include a new technology, product or service, a regulatory update, market share gains, cyclical inflections (e.g. companies whose returns are driven by macro-economic factors), corporate restructurings or self-help initiatives (e.g. internal operating efforts to increase company efficiencies). The Portfolio Managers may also invest in anticipation of a catalyst.
In analyzing catalysts, the Portfolio Managers evaluate each catalyst’s uniqueness, timing, growth potential and sustainability, as well as assessing execution risks, competitive barriers and threats. The Portfolio Managers are also attempting to exploit market inefficiencies that potentially may exist within the small-to-mid-capitalization market, due to the number of companies that comprise the investable universe and the limited amount of available research that exists for some of those companies. Investable companies emerging from the Portfolio Manager’s bottom-up fundamental, qualitative and valuation
analysis fall into the following investment classifications:
Core investments: are typically more mature companies, engaged with, and participating in, compelling secular growth trends, that the Portfolio Managers believe offer a demonstrated history of consistent execution and results. These tend to represent multi-year holdings of the strategy.
Turn investments: represent holdings in a wide range of corporate development and maturity stages and are generally driven by what the Portfolio Managers believe to be a distinct developing catalyst, such as a new product or service, market share gains or internal corporate self-help opportunities to improve operating efficiencies.
Tactical investments: represent holdings with a shorter-term investment horizon due to catalysts the Portfolio Managers believe are typically associated with cyclical trends and opportunities, a disconnect with market expectations providing an opportunity on valuation or a new product, or financial or regulatory developments that could have a material impact on the company.
Tactical investments have the potential to grow into Turn investments, while compelling Turn investments will ideally develop into Core investments.
The Fund seeks to reduce risk by diversifying among many companies, sectors and industries. At times, the Portfolio Managers may emphasize certain sectors that they believe will benefit from market or economic trends.
The Portfolio Managers constantly monitor their holdings and are focused on maintaining what they believe is an appropriate and attractive risk/reward balance with a disciplined sell process that acts quickly and dispassionately to address both positive and negative outcomes. A position is typically trimmed or exited for the following reasons: to harvest gains from significant short-term price appreciation, the positive realization of a catalyst, the achievement of a price target or elevated valuations, identification of a better idea, to minimize potential risks, to address an absence of near-term drivers or catalysts, a significant deterioration of fundamentals, a change in management or operating strategy or the failure of a catalyst to develop.
The Fund will not change its strategy of normally investing at least 80% of its net assets in mid-capitalization companies, without providing shareholders at least 60 days’ notice. This test is applied at the time the Fund invests; later percentage changes caused by a change in Fund assets, market values or company circumstances will not require the Fund to dispose of a holding.
NMANX - Performance
Return Ranking - Trailing
Period | NMANX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 19.0% | -13.7% | 60.8% | 17.33% |
1 Yr | 34.8% | 11.4% | 56.3% | 24.76% |
3 Yr | 1.0%* | -25.0% | 57.4% | 39.07% |
5 Yr | 11.0%* | -2.9% | 102.8% | 46.61% |
10 Yr | 10.9%* | 2.6% | 25.3% | 38.04% |
* Annualized
Return Ranking - Calendar
Period | NMANX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 14.5% | -27.7% | 68.0% | 65.39% |
2022 | -32.0% | -85.6% | 52.8% | 55.96% |
2021 | -3.7% | -74.9% | 238.3% | 58.81% |
2020 | 26.9% | -44.1% | 2474.5% | 50.41% |
2019 | 26.6% | -50.2% | 44.0% | 43.76% |
Total Return Ranking - Trailing
Period | NMANX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 19.0% | -13.7% | 60.8% | 17.33% |
1 Yr | 34.8% | 11.4% | 56.3% | 24.76% |
3 Yr | 1.0%* | -25.0% | 57.4% | 39.07% |
5 Yr | 11.0%* | -2.9% | 102.8% | 46.61% |
10 Yr | 10.9%* | 2.6% | 25.3% | 38.04% |
* Annualized
Total Return Ranking - Calendar
Period | NMANX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 18.2% | -26.1% | 68.0% | 66.73% |
2022 | -28.7% | -67.0% | 56.8% | 57.12% |
2021 | 12.7% | -23.5% | 342.2% | 47.72% |
2020 | 39.4% | 2.6% | 2549.1% | 44.06% |
2019 | 33.6% | 14.6% | 44.8% | 51.80% |
NAV & Total Return History
NMANX - Holdings
Concentration Analysis
NMANX | Category Low | Category High | NMANX % Rank | |
---|---|---|---|---|
Net Assets | 1.73 B | 2.73 M | 100 B | 38.29% |
Number of Holdings | 78 | 24 | 3590 | 46.67% |
Net Assets in Top 10 | 400 M | 670 K | 11.3 B | 42.10% |
Weighting of Top 10 | 23.90% | 4.5% | 98.2% | 65.14% |
Top 10 Holdings
- Crowdstrike Holdings Inc 2.84%
- Palantir Technologies Inc 2.71%
- Spotify Technology SA 2.59%
- Trade Desk Inc/The 2.44%
- Ares Management Corp 2.36%
- MicroStrategy Inc 2.35%
- Deckers Outdoor Corp 2.33%
- KKR Co Inc 2.14%
- Monolithic Power Systems Inc 2.06%
- Dexcom Inc 2.06%
Asset Allocation
Weighting | Return Low | Return High | NMANX % Rank | |
---|---|---|---|---|
Stocks | 98.16% | 58.72% | 103.99% | 58.67% |
Cash | 2.77% | 0.00% | 41.99% | 32.19% |
Preferred Stocks | 0.00% | 0.00% | 5.73% | 70.10% |
Other | 0.00% | -0.04% | 14.45% | 73.90% |
Convertible Bonds | 0.00% | 0.00% | 0.40% | 65.14% |
Bonds | 0.00% | 0.00% | 2.35% | 69.52% |
Stock Sector Breakdown
Weighting | Return Low | Return High | NMANX % Rank | |
---|---|---|---|---|
Technology | 33.18% | 0.04% | 62.17% | 41.71% |
Industrials | 17.74% | 0.00% | 38.23% | 23.62% |
Consumer Cyclical | 15.16% | 0.00% | 57.41% | 40.95% |
Healthcare | 14.38% | 0.00% | 37.06% | 77.71% |
Financial Services | 5.94% | 0.00% | 43.01% | 55.24% |
Energy | 5.42% | 0.00% | 62.10% | 12.95% |
Consumer Defense | 3.12% | 0.00% | 16.40% | 31.81% |
Basic Materials | 2.15% | 0.00% | 17.25% | 52.57% |
Real Estate | 1.79% | 0.00% | 19.28% | 60.95% |
Communication Services | 1.12% | 0.00% | 18.33% | 75.24% |
Utilities | 0.00% | 0.00% | 12.94% | 74.86% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | NMANX % Rank | |
---|---|---|---|---|
US | 98.16% | 46.79% | 103.99% | 49.14% |
Non US | 0.00% | 0.00% | 34.12% | 73.71% |
NMANX - Expenses
Operational Fees
NMANX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.86% | 0.02% | 17.54% | 73.14% |
Management Fee | 0.75% | 0.00% | 1.50% | 59.54% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.26% | 0.00% | 0.40% | 96.00% |
Sales Fees
NMANX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
NMANX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
NMANX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 42.00% | 0.00% | 250.31% | 51.16% |
NMANX - Distributions
Dividend Yield Analysis
NMANX | Category Low | Category High | NMANX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 33.43% | 72.76% |
Dividend Distribution Analysis
NMANX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
NMANX | Category Low | Category High | NMANX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.57% | -2.24% | 2.75% | 50.29% |
Capital Gain Distribution Analysis
NMANX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 18, 2023 | $0.478 | CapitalGainLongTerm |
Dec 15, 2022 | $0.636 | CapitalGainLongTerm |
Dec 14, 2021 | $3.129 | OrdinaryDividend |
Dec 14, 2020 | $1.908 | OrdinaryDividend |
Dec 16, 2019 | $0.852 | CapitalGainLongTerm |
Dec 17, 2018 | $0.242 | CapitalGainShortTerm |
Dec 17, 2018 | $1.209 | CapitalGainLongTerm |
Dec 15, 2017 | $0.131 | CapitalGainShortTerm |
Dec 15, 2017 | $1.185 | CapitalGainLongTerm |
Dec 16, 2016 | $0.029 | CapitalGainShortTerm |
Dec 16, 2016 | $0.611 | CapitalGainLongTerm |
Dec 17, 2015 | $0.090 | CapitalGainShortTerm |
Dec 17, 2015 | $1.066 | CapitalGainLongTerm |
Dec 15, 2014 | $0.209 | CapitalGainShortTerm |
Dec 15, 2014 | $1.596 | CapitalGainLongTerm |
Dec 16, 2013 | $0.691 | CapitalGainLongTerm |
Dec 16, 2013 | $0.307 | OrdinaryDividend |
Dec 14, 2012 | $0.304 | CapitalGainLongTerm |
Dec 14, 2012 | $0.382 | OrdinaryDividend |
Dec 16, 2011 | $0.022 | OrdinaryDividend |
Dec 15, 2001 | $0.051 | CapitalGainLongTerm |
Dec 18, 2000 | $0.483 | CapitalGainShortTerm |
Dec 18, 2000 | $5.029 | CapitalGainLongTerm |
Dec 14, 1999 | $1.234 | CapitalGainLongTerm |
Dec 29, 1998 | $0.854 | CapitalGainLongTerm |
Dec 26, 1997 | $0.401 | CapitalGainShortTerm |
Dec 26, 1997 | $3.548 | CapitalGainLongTerm |
Dec 27, 1996 | $0.123 | CapitalGainShortTerm |
Dec 27, 1996 | $1.584 | CapitalGainLongTerm |
Jan 03, 1994 | $0.720 | OrdinaryDividend |
NMANX - Fund Manager Analysis
Managers
Kenneth Turek
Start Date
Tenure
Tenure Rank
Jan 31, 2003
19.34
19.3%
Turek is a vice present of NBMI and managing director of Neuberger Berman , LLC. He joined the firm in 2002. Previously, he spent five years as a vice president and senior portfolio manager in institutional asset management at Northern Trust. Additionally, he was a portfolio manager at National Investment Services and Chief Investment Officer at ColeTaylor Bank. Mr. Turek holds a BA from the University of Wisconsin at Madison and an MBA from DePaul University. He holds the Chartered Financial Analyst designation.
Chad Bruso
Start Date
Tenure
Tenure Rank
Jan 16, 2020
2.37
2.4%
Chad A. Bruso, CFA, Senior Vice President, joined the firm in 2006. Chad is part of the Growth Equity Group which is responsible for Neuberger Berman’s Mid Cap Growth and Small Cap Growth strategies. He is an Associate Portfolio Manager on Small Cap Growth and Senior Research Analyst covering the Industrial and Consumer sectors for Mid Cap Growth. Prior to joining the firm, he was both a vice president and transportation analyst at Morgan Stanley. Chad began his career as a senior consultant at Arthur Andersen. He earned a Bachelor of Finance from the University of Illinois at Urbana-Champaign. Chad has been awarded the Chartered Financial Analyst designation.
Trevor Moreno
Start Date
Tenure
Tenure Rank
Jan 16, 2020
2.37
2.4%
Trevor Moreno, CFA, Senior Vice President, joined the firm in May of 2014. Trevor is a Portfolio Manager on the Small Cap Growthstrategy and a Associate Portfolio Manager on the Mid Cap Growth strategy. In addition, he is a Research Analyst for the Growth Equity Group, coveringthe Information Technology sector for both small cap growth and mid cap growth. Prior to joining the firm, he held assistant portfolio manager and analyst positions at Wells Capital Management and Strong Capital Management before that. He began his career at Parker Hannifin Corporation as a staff accountant and a financial analyst. He earned a BS in Accounting and Finance from the Kelley School of Business at Indiana University, as well as an MBA from the Kelley School of Business at Indiana University. Trevor has been awarded the Chartered Financial Analyst designation.
Jennifer Blachford
Start Date
Tenure
Tenure Rank
Dec 17, 2021
0.45
0.5%
Jennifer Blachford, Senior Vice President, joined the firm in 2019. Jennifer is part of the Growth Equity Group which is responsible for Neuberger Berman’s Mid Cap Growth and Small Cap Growth strategies. She is a Senior Research Analyst covering the Healthcare sector for Small Cap and Mid Cap Growth. Prior to joining, Jennifer served in a variety of senior roles including Portfolio Manager at Arcoda Capital Management. Jennifer began her career in 1998 as an analyst at Suffolk Capital Management. She earned an AB from Princeton University.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 36.3 | 9.4 | 11.76 |