Neuberger Berman Multi-Cap Opportunities Fund
Name
As of 10/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
19.1%
1 yr return
33.3%
3 Yr Avg Return
7.3%
5 Yr Avg Return
12.6%
Net Assets
$252 M
Holdings in Top 10
41.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.25%
SALES FEES
Front Load 5.75%
Deferred Load N/A
TRADING FEES
Turnover 15.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
NMUAX - Profile
Distributions
- YTD Total Return 19.1%
- 3 Yr Annualized Total Return 7.3%
- 5 Yr Annualized Total Return 12.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.04%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameNeuberger Berman Multi-Cap Opportunities Fund
-
Fund Family NameNeuberger Berman
-
Inception DateDec 21, 2009
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRichard Nackenson
Fund Description
To pursue its goal, the Fund invests in a concentrated portfolio, consisting mainly of common stocks of companies that are selected using a fundamental, bottom-up research approach. The Fund may hold stocks of companies of any market capitalization and in any sector. Under normal market conditions, the Fund typically will hold a limited number of stocks.
Portfolio construction is an important component of the investment process and primarily consists of three distinct investment categories: Special Situations, Opportunistic, and Classic. Special Situations have unique attributes (e.g., restructurings, spin-offs, post-bankruptcy equities) that require specific methodologies and customized investment research. Opportunistic investments are companies that have become inexpensive for a tangible reason that the Portfolio Manager believes is temporary. Classic investments are those companies with long histories of shareholder-friendly policies, high-quality management teams and consistent operating performance.
The Portfolio Manager performs both quantitative and qualitative analysis in an effort to identify companies that he believes have the potential to increase in value. This potential may be realized in many ways, some of which include: free cash flow generation, product or process enhancements, margin increases, and improved capital structure management. Investments are selected primarily based on fundamental analysis of issuers and their potential in light of their financial condition, industry position, market opportunities, senior management teams and any special situations as well as any relevant economic, political and regulatory factors.
As part of his fundamental investment analysis the Portfolio Manager considers Environmental, Social and Governance (ESG) factors he believes are financially material to individual investments, where applicable, as described below. While this analysis is inherently subjective and may be informed by both internally generated and third-party metrics, data and other information, the Portfolio Manager believes that the consideration of financially material ESG factors, alongside traditional financial metrics, may enhance the Fund’s overall investment process. The consideration of ESG factors does not apply to certain instruments, such as certain derivative instruments, other registered investment companies, cash and cash equivalents. The consideration of ESG factors as part of the investment process does not mean that the Fund pursues a specific “impact” or “sustainable” investment strategy.
The Portfolio Manager employs disciplined valuation criteria and dynamic price limits to determine when to buy or sell a stock. The valuation criteria and price limits will change over time as a result of changes in company-specific, industry and market factors. The Portfolio Manager follows a disciplined selling strategy and may sell a stock when it reaches a dynamic price target, when other opportunities appear more attractive, or when the Portfolio Manager’s research indicates deteriorating fundamentals.
Although the Fund invests primarily in domestic stocks, it may also invest in stocks of foreign companies.
At times, the Portfolio Manager may emphasize certain sectors that he believes will benefit from market or economic trends.
NMUAX - Performance
Return Ranking - Trailing
Period | NMUAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 19.1% | 4.3% | 35.1% | 54.41% |
1 Yr | 33.3% | 8.4% | 55.4% | 46.72% |
3 Yr | 7.3%* | -10.6% | 16.8% | 79.89% |
5 Yr | 12.6%* | -7.8% | 111.2% | 81.60% |
10 Yr | 11.2%* | 0.0% | 52.7% | 66.71% |
* Annualized
Return Ranking - Calendar
Period | NMUAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -4.1% | -42.6% | 47.4% | 98.46% |
2022 | -36.3% | -56.3% | -4.2% | 96.98% |
2021 | -6.3% | -27.2% | 537.8% | 96.68% |
2020 | -10.0% | -22.5% | 2181.7% | 99.05% |
2019 | 6.2% | -13.5% | 40.4% | 97.29% |
Total Return Ranking - Trailing
Period | NMUAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 19.1% | 4.3% | 35.1% | 54.41% |
1 Yr | 33.3% | 8.4% | 55.4% | 46.72% |
3 Yr | 7.3%* | -10.6% | 16.8% | 79.89% |
5 Yr | 12.6%* | -7.8% | 111.2% | 81.60% |
10 Yr | 11.2%* | 0.0% | 52.7% | 66.71% |
* Annualized
Total Return Ranking - Calendar
Period | NMUAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 17.9% | -5.0% | 47.4% | 77.92% |
2022 | -17.5% | -36.8% | -2.2% | 43.06% |
2021 | 26.2% | 3.0% | 537.8% | 54.77% |
2020 | 12.2% | -15.8% | 2266.0% | 80.07% |
2019 | 27.6% | -0.4% | 241.3% | 73.30% |
NAV & Total Return History
NMUAX - Holdings
Concentration Analysis
NMUAX | Category Low | Category High | NMUAX % Rank | |
---|---|---|---|---|
Net Assets | 252 M | 2.34 M | 1.55 T | 78.40% |
Number of Holdings | 43 | 2 | 4002 | 87.54% |
Net Assets in Top 10 | 102 M | 979 K | 517 B | 77.35% |
Weighting of Top 10 | 40.99% | 0.3% | 112.9% | 29.16% |
Top 10 Holdings
- Microsoft Corp 5.48%
- Alphabet Inc 5.22%
- Berkshire Hathaway Inc 4.98%
- Brookfield Corp 3.97%
- Graphic Packaging Holding Co 3.85%
- HCA Healthcare Inc 3.67%
- Apple Inc 3.62%
- JPMorgan Chase Co 3.57%
- Amazon.com Inc 3.39%
- US Foods Holding Corp 3.24%
Asset Allocation
Weighting | Return Low | Return High | NMUAX % Rank | |
---|---|---|---|---|
Stocks | 98.72% | 0.00% | 105.85% | 57.36% |
Cash | 1.30% | 0.00% | 99.07% | 40.94% |
Preferred Stocks | 0.00% | 0.00% | 2.53% | 30.18% |
Other | 0.00% | -13.91% | 100.00% | 50.81% |
Convertible Bonds | 0.00% | 0.00% | 5.54% | 26.87% |
Bonds | 0.00% | 0.00% | 94.06% | 32.52% |
Stock Sector Breakdown
Weighting | Return Low | Return High | NMUAX % Rank | |
---|---|---|---|---|
Financial Services | 21.78% | 0.00% | 55.59% | 6.51% |
Consumer Cyclical | 18.12% | 0.00% | 30.33% | 2.64% |
Industrials | 16.40% | 0.00% | 29.90% | 4.45% |
Technology | 15.01% | 0.00% | 48.94% | 90.53% |
Communication Services | 10.78% | 0.00% | 27.94% | 13.01% |
Healthcare | 7.38% | 0.00% | 60.70% | 96.54% |
Consumer Defense | 6.81% | 0.00% | 47.71% | 51.48% |
Basic Materials | 2.89% | 0.00% | 25.70% | 38.63% |
Utilities | 0.84% | 0.00% | 20.91% | 79.49% |
Real Estate | 0.00% | 0.00% | 31.91% | 90.12% |
Energy | 0.00% | 0.00% | 41.64% | 88.96% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | NMUAX % Rank | |
---|---|---|---|---|
US | 98.72% | 0.00% | 105.85% | 45.31% |
Non US | 0.00% | 0.00% | 64.54% | 40.86% |
NMUAX - Expenses
Operational Fees
NMUAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.25% | 0.01% | 19.75% | 22.64% |
Management Fee | 0.86% | 0.00% | 1.90% | 94.63% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 37.30% |
Administrative Fee | 0.26% | 0.00% | 0.85% | 89.43% |
Sales Fees
NMUAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 5.75% | 1.00% | 5.75% | 9.15% |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
NMUAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.25% | 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.
NMUAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 15.00% | 0.00% | 268.00% | 32.54% |
NMUAX - Distributions
Dividend Yield Analysis
NMUAX | Category Low | Category High | NMUAX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 25.47% | 93.11% |
Dividend Distribution Analysis
NMUAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
NMUAX | Category Low | Category High | NMUAX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.04% | -54.00% | 2.44% | 86.36% |
Capital Gain Distribution Analysis
NMUAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 18, 2023 | $1.978 | CapitalGainLongTerm |
Dec 15, 2022 | $2.716 | OrdinaryDividend |
Dec 14, 2021 | $4.838 | OrdinaryDividend |
Dec 14, 2020 | $3.655 | OrdinaryDividend |
Dec 16, 2019 | $0.064 | OrdinaryDividend |
Dec 16, 2019 | $0.030 | CapitalGainShortTerm |
Dec 16, 2019 | $3.295 | CapitalGainLongTerm |
Dec 17, 2018 | $1.651 | CapitalGainLongTerm |
Dec 17, 2018 | $0.068 | OrdinaryDividend |
Dec 15, 2017 | $1.855 | CapitalGainShortTerm |
Dec 15, 2017 | $0.044 | OrdinaryDividend |
Dec 16, 2016 | $0.001 | CapitalGainShortTerm |
Dec 16, 2016 | $0.452 | CapitalGainLongTerm |
Dec 16, 2016 | $0.074 | OrdinaryDividend |
Dec 17, 2015 | $0.008 | CapitalGainShortTerm |
Dec 17, 2015 | $0.417 | CapitalGainLongTerm |
Dec 17, 2015 | $0.069 | OrdinaryDividend |
Dec 15, 2014 | $0.000 | CapitalGainShortTerm |
Dec 15, 2014 | $0.519 | CapitalGainLongTerm |
Dec 15, 2014 | $0.084 | OrdinaryDividend |
Dec 16, 2013 | $0.223 | CapitalGainLongTerm |
Dec 16, 2013 | $0.089 | OrdinaryDividend |
Dec 14, 2012 | $0.041 | CapitalGainShortTerm |
Dec 14, 2012 | $0.045 | CapitalGainLongTerm |
Dec 14, 2012 | $0.109 | OrdinaryDividend |
Dec 16, 2011 | $0.254 | CapitalGainShortTerm |
Dec 16, 2011 | $0.007 | OrdinaryDividend |
Dec 20, 2010 | $0.022 | OrdinaryDividend |
NMUAX - Fund Manager Analysis
Managers
Richard Nackenson
Start Date
Tenure
Tenure Rank
Dec 14, 2009
12.47
12.5%
Richard S. Nackenson, Managing Director of Neuberger Berman and Senior Portfolio Manager for the Nackenson Group. He joined the firm in 1999. Previously, Richard was a Securities Analyst with Appaloosa Management focusing on global investing across capital structures and industry sectors. He was a Senior Research Analyst with Pzena Investment Management and also an Associate with James D. Wolfensohn Incorporated. He began his career with McKinsey & Company. Richard earned both a BS, summa cum laude, and an MBA from the Wharton School at the University of Pennsylvania. He has over 20 years of industry experience.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 39.02 | 7.24 | 2.42 |