Trust Class | |
Neuberger Berman International Select Fund | NILTX |
Neuberger Berman Real Estate Fund | NBRFX |
Fund Summaries | |
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2 |
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9 |
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16 |
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16 |
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23 |
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23 |
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24 |
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26 |
Your Investment | |
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28 |
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29 |
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29 |
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31 |
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36 |
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37 |
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38 |
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38 |
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39 |
Management fees | |
Distribution and/or shareholder service (12b-1) fees | |
Other expenses | |
Total annual operating expenses | |
Fee waiver and/or expense reimbursement | |
Total annual operating expenses after fee waiver and/or expense reimbursement1 |
1 |
1 Year | 3 Years | 5 Years | 10 Years | |
Trust Class | $ |
$ |
$ |
$ |
1 Year | 5 Years | 10 Years | |
Return Before Taxes | |||
Return After Taxes on Distributions | |||
Return After Taxes on Distributions and Sale of Fund Shares | |||
MSCI EAFE® Index (Net) (reflects reinvested dividends net of withholding taxes, but reflects no deduction for fees, expenses or taxes) |
Management fees | |
Distribution and/or shareholder service (12b-1) fees | |
Other expenses | |
Total annual operating expenses |
1 Year | 3 Years | 5 Years | 10 Years | |
Trust Class | $ |
$ |
$ |
$ |
1 Year | 5 Years | 10 Years | |
Return Before Taxes | |||
Return After Taxes on Distributions | |||
Return After Taxes on Distributions and Sale of Fund Shares | |||
FTSE
Nareit All Equity REITs Index |
YEAR ENDED AUGUST 31, | 2016 | 2017 | 2018 | 2019 | 2020 |
PER-SHARE DATA ($) | |||||
Data apply to a single share throughout each year indicated. You can see what the Fund earned (or lost), what it distributed to investors, and how its share price changed. | |||||
Share price (NAV) at beginning of year | 10.59 | 10.88 | 12.43 | 12.97 | 12.30 |
Plus: | |||||
Income from investment operations | |||||
Net investment income (loss)(3) | 0.11 | 0.10 | 0.10 | 0.12 | 0.05 |
Net gains (losses)—realized and unrealized | 0.27 | 1.57 | 0.54 | (0.61) | 1.94 |
Subtotal: income (loss) from investment operations | 0.38 | 1.67 | 0.64 | (0.49) | 1.99 |
Minus: | |||||
Distributions to shareholders | |||||
Income dividends | 0.09 | 0.12 | 0.10 | (0.05) | 0.19 |
Capital gain distributions | — | — | — | (0.13) | 0.19 |
Subtotal: distributions to shareholders | 0.09 | 0.12 | 0.10 | (0.18) | 0.38 |
Equals: | |||||
Share price (NAV) at end of year | 10.88 | 12.43 | 12.97 | 12.30 | 13.91 |
RATIOS (% OF AVERAGE NET ASSETS) | |||||
The ratios show the Fund's expenses and net investment income (loss)—as they actually are as well as how they would have been if certain expense reimbursement and/or offset arrangements had not been in effect. | |||||
Net expenses—actual | 1.25 | 1.18 | 1.16 | 1.15 | 1.15 |
Gross expenses(1) | 1.39 | 1.34 | 1.38 | 1.42 | 1.41 |
Net investment income (loss)—actual | 1.06 | 0.90 | 0.74 | 0.97 | 0.41 |
OTHER DATA | |||||
Total return shows how an investment in the Fund would have performed over each year, assuming all distributions were reinvested. The turnover rate reflects how actively the Fund bought and sold securities. | |||||
Total return (%)(2) | 3.65 | 15.57 | 5.17 | (3.58) | 16.28 |
Net assets at end of year (in millions of dollars) | 7.8 | 8.2 | 8.0 | 5.0 | 5.3 |
Portfolio turnover rate (%) | 22 | 27 | 44 | 32 | 33 |
(1) | Shows what this ratio would have been if there had been no expense reimbursement. |
(2) | Would have been lower if the Manager had not reimbursed certain expenses. |
(3) | Calculated based on the average number of shares outstanding during each fiscal period. |
YEAR ENDED AUGUST 31, | 2016 | 2017 | 2018 | 2019 | 2020 |
PER-SHARE DATA ($) | |||||
Data apply to a single share throughout each year indicated. You can see what the Fund earned (or lost), what it distributed to investors, and how its share price changed. | |||||
Share price (NAV) at beginning of year | 13.60 | 15.12 | 13.52 | 13.34 | 15.13 |
Plus: | |||||
Income from investment operations | |||||
Net investment income (loss)(3) | 0.19 | 0.20 | 0.20 | 0.18 | 0.17 |
Net gains (losses)—realized and unrealized | 2.60 | 0.07 | 0.45 | 2.45 | (0.80) |
Subtotal: income (loss) from investment operations | 2.79 | 0.27 | 0.65 | 2.63 | (0.63) |
Minus: | |||||
Distributions to shareholders | |||||
Income dividends | 0.20 | 0.19 | 0.19 | 0.18 | 0.17 |
Capital gain distributions | 1.07 | 1.68 | 0.64 | 0.66 | 0.57 |
Subtotal: distributions to shareholders | 1.27 | 1.87 | 0.83 | 0.84 | 0.74 |
Equals: | |||||
Share price (NAV) at end of year | 15.12 | 13.52 | 13.34 | 15.13 | 13.76 |
RATIOS (% OF AVERAGE NET ASSETS) | |||||
The ratios show the Fund's expenses and net investment income (loss)—as they actually are as well as how they would have been if certain expense reimbursement and/or offset arrangements had not been in effect. | |||||
Net expenses—actual | 1.04 | 1.04 | 1.04 | 1.04 | 1.04 |
Gross expenses(1) | 1.41 | 1.42 | 1.42 | 1.43 | 1.40 |
Net investment income (loss)—actual | 1.34 | 1.46 | 1.58 | 1.32 | 1.21 |
OTHER DATA | |||||
Total return shows how an investment in the Fund would have performed over each year, assuming all distributions were reinvested. The turnover rate reflects how actively the Fund bought and sold securities. | |||||
Total return (%)(2) | 21.59 | 2.89 | 5.01 | 21.21 | (4.13) |
Net assets at end of year (in millions of dollars) | 212.4 | 156.6 | 133.7 | 130.3 | 108.6 |
Portfolio turnover rate (%) | 49 | 45 | 47 | 38 | 26 |
(1) | Shows what this ratio would have been if there had been no expense reimbursement. |
(2) | Would have been lower if the Manager had not reimbursed certain expenses. |
(3) | Calculated based on the average number of shares outstanding during each fiscal period. |
■ | Grandfathered Investors may purchase Trust Class shares of each Fund. “Grandfathered Investors” are investors in any fund in the Neuberger Berman family of funds who hold their shares directly with Neuberger Berman, who established accounts in Investor Class or Trust Class shares prior to March 1, 2008, and who have continuously maintained an account directly with Neuberger Berman since that date. A Grandfathered Investor's “immediate family” (his or her spouse—or equivalent if recognized under local law—and his or her children under the age of 21) are also deemed “Grandfathered Investors.” A Grandfathered Investor's mother, father, sister, or brother may open a custodial account for the Grandfathered Investor's minor children. Grandfathered Investors do not include any investment providers who have accounts with a Fund or shareholders who invest through such investment providers. |
■ | Investors who hold their shares in an account directly with Neuberger Berman, who held Trust Class shares of Neuberger Berman Real Estate Fund prior to July 26, 2010, and who have continuously maintained such account in Trust Class shares of the Fund, may continue to purchase Trust Class shares of the Fund. This does not include any investment providers who have accounts with the Fund or shareholders who invest through such investment providers, who are addressed below. |
■ | Financial Intermediaries who established accounts in Trust Class shares of Neuberger Berman International Select Fund prior to March 1, 2008, or Neuberger Berman Real Estate Fund prior to July 26, 2010, and who have continuously maintained such accounts in Trust Class shares of such Fund, may continue to purchase Trust Class shares of that Fund. Self-directed retail shareholders who hold their shares through a financial intermediary’s account with Neuberger Berman must maintain such account in Trust Class shares of such Fund with the same financial intermediary to continue to purchase Trust Class shares of such Fund. |
■ | both accounts must have the same registration |
■ | you will need to observe any eligibility requirements, including minimum investment and minimum account balance requirements for the fund accounts involved |
■ | because an exchange is treated as a sale (redemption) of the exchanged shares for federal income tax purposes, consider any tax consequences before placing your order. |
■ | in unusual circumstances where the law allows additional time if needed |
■ | if a check you wrote to buy shares has not cleared by the time you sell those shares; clearance may take up to 15 calendar days from the date of purchase. |
■ | suspend the offering of shares |
■ | reject any exchange or purchase order |
■ | suspend or reject future purchase orders from any investor who has not provided timely payment to settle a purchase order |
■ | change, suspend, or revoke the exchange privilege |
■ | suspend the telephone order privilege |
■ | satisfy an order to sell Fund shares with securities rather than cash |
■ | suspend or postpone investors’ ability to sell Fund shares or postpone payments on redemptions for more than seven days, on days when trading on the Exchange is restricted, or as otherwise permitted by the Securities and Exchange Commission (“SEC”) |
■ | suspend or postpone investors' ability to sell Fund shares or postpone payments on redemptions for more than seven days, on days when the Exchange is closed |
■ | suspend or postpone investors' ability to sell Fund shares or postpone payments on redemptions for more than seven days, on days when the Exchange closes early (e.g., on the eve of a major holiday or because of a local emergency, such as a blizzard) |
■ | change investment minimums or other requirements for buying and selling, or waive any minimums or requirements for certain investors |
■ | remain open and process orders to purchase or sell Fund shares when the Exchange is closed. |
Method | Things to know | Instructions |
Sending us a check | Your
first investment must be at least $1,000 Additional investments can be as little as $100 We cannot accept cash, money orders, starter checks, travelers checks, or other cash equivalents We do accept Bank Checks and Cashier’s Checks from U.S. Financial Institutions You will be responsible for any losses or fees resulting from a bad check; if necessary, we may sell other shares belonging to you in order to cover these losses All checks must be made out to “Neuberger Berman Funds”; we cannot accept checks made out to you or other parties and signed over to us |
Fill
out the application and enclose your check If regular first-class mail, send to: Neuberger Berman Funds P.O. Box 219189 Kansas City, MO 64121-9189 If express delivery, registered mail, or certified mail, send to: Neuberger Berman Funds 430 West 7th Street Suite 219189 Kansas City, MO 64105-1407 |
Wiring money | All wires must be for at least $1,000 | Before
wiring any money, call for an order confirmation: Retail Services: 800-877-9700 Institutional Support Services: 800-366-6264 Have your financial institution send your wire to DST Asset Manager Solutions, Inc. Include your name, the Fund name, your account number and other information as requested |
Exchanging from another fund | All
exchanges must be for at least $1,000 Both accounts involved must be registered in the same name, address and taxpayer identification number An exchange order cannot be cancelled or changed once it has been placed |
To
place your order call: Retail Services: 800-877-9700 Institutional Support Services: 800-366-6264 To place an order using FUNDfone®, call 800-335-9366 |
By telephone | We
do not accept phone orders for a first investment Additional investments must be for at least $1,000 Additional shares will be purchased when your order is received in proper form Not available on retirement accounts |
To
notify us of your purchase call: Retail Services: 800-877-9700 Institutional Support Services: 800-366-6264 Immediately follow up with a wire or electronic transfer To add shares to an existing account using FUNDfone®, call 800-335-9366 |
Setting up systematic investments | All investments must be at least $100 | Call 800-877-9700 for instructions |
Method | Things to know | Instructions |
Sending us a letter | Unless
you instruct us otherwise, we will mail your proceeds by check to the
address of record, payable to the registered owner(s); checks will not be
forwarded If you have designated a bank account on your application, you can request that we wire the proceeds to this account; if the total balance of all of your Neuberger Berman fund accounts is less than $100,000, you will be charged an $8.00 wire fee You can also request that we send the proceeds to your designated bank account by electronic transfer (ACH) without a fee You may need a Medallion signature guarantee Please also supply us with your e-mail address and daytime telephone number when you write to us in the event we need to reach you |
Send
us a letter requesting us to sell shares signed by all registered owners;
include your name, account number, the Fund name, the dollar amount or
number of shares you want to sell, and any other instructions If regular first-class mail, send to: Neuberger Berman Funds P.O. Box 219189 Kansas City, MO 64121-9189 If express delivery, registered mail, or certified mail, send to: Neuberger Berman Funds 430 West 7th Street Suite 219189 Kansas City, MO 64105-1407 |
Sending us a fax | For
amounts of up to $100,000 Not available if you have changed the address on the account in the past 15 days |
Write
a request to sell shares as described above Call 800-877-9700 to obtain the appropriate fax number |
Calling in your order | All
phone orders to sell shares must be for at least $1,000 unless you are
closing out an account Not available if you have declined the phone option or are selling shares in certain retirement accounts (The only exception is for those retirement shareholders who are at least 59½ or older and have their birthdates on file) Not available if you have changed the address on the account in the past 15 days |
To
place your order call: Retail Services: 800-877-9700 Institutional Support Services: 800-366-6264 Give your name, account number, the Fund name, the dollar amount or number of shares you want to sell, and any other instructions To place an order using FUNDfone®, call 800-335-9366 |
Exchanging into another fund | All
exchanges must be for at least $1,000 Both accounts involved must be registered in the same name, address and taxpayer identification number An exchange order cannot be cancelled or changed once it has been placed |
To
place your order call: Retail Services: 800-877-9700 Institutional Support Services: 800-366-6264 To place an order using FUNDfone®, call 800-335-9366 |
Setting up systematic withdrawals | Withdrawals must be at least $100 | Call 800-877-9700 for instructions |
■ | a discussion by the Portfolio Managers about strategies and market conditions that significantly affected the Fund’s performance during the last fiscal year |
■ | Fund performance data and financial statements |
■ | portfolio holdings. |
■ | various types of securities and practices, and their risks |
■ | investment limitations and additional policies |
■ | information about the Fund’s management and business structure. |