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Products March 18, 2013
Seven Neuberger Berman Funds Get R6 Shares
Neuberger Berman Group LLC rolled out retirement share classes (R6 shares)
for seven of its mutual funds.
Reported by PLANADVISER staff
The share classes are being introduced in response to client demands for increased transparency and flexibility in the retirement plan marketplace.
The R6 shares offer a lower cost option to retirement plan advisers and their plan sponsor clients. R6 Shares will initially be available for the following funds: NB Emerging Markets Equity; NB Genesis Fund; NB High Income Bond Fund; NB Mid Cap Growth Fund; NB Real Estate Fund; NB Socially Responsive Fund; and NB Strategic Income Fund.
The R6 Shares are offered at net asset value (NAV) without front-end sales charges, contingent deferred sales charges (CDSC), or 12b-1 fees.
“We understand the many issues facing our plan sponsor clients and their underlying participants,” said Scott Kilgallen, managing director of the financial institutions group at Neuberger Berman. “To address the need for fee transparency, we are excited to add these share classes to some of our best performing and in demand mutual funds. We are also looking to add more R6 shares to our mutual fund lineup over time.”
For more information, visit www.nb.com.