Fund manager Neuberger Berman Australia has been awarded new mandates from HOSTPLUS and IOOF, bringing its Australian-sourced assets under management to almost $400 million in just four months.
Neuberger Berman Australia received its Australian Financial Services licence from the Australian Securities and Investments Commission (ASIC) in April 2011.
HOSTPLUS has awarded Neuberger Berman a $90 million emerging markets equity mandate, and IOOF has awarded the firm $200 million in global equities.
These follow a $100 million Global Tactical Asset Allocation mandate in April from Colonial First State, which became Neuberger Berman Australia’s first Australian client.
Lucas Rooney, senior vice-president of Neuberger Berman Australia, said that there has been a particularly high level of interest from Australian institutions in the firm’s global equities capabilities, including emerging markets.
“Although Neuberger Berman offers a range of asset class investments, Australian institutions are presently interested in our emerging markets equities and global equities capabilities.
“Our strategies give client portfolios access to a much broader range of companies than many managers because of the specific orientation of our research work, our investment process and our teams’ particular beliefs,” Mr Rooney said.
Neuberger Berman was established in 1939 and is a US-based asset management company with approximately US$198 billion in funds under management throughout the world (as at 30 June 2011) and 400 investment staff. It is one of the world’s largest independent, employee-controlled financial services organisations. The company offers a number of funds in a range of asset classes including global and emerging market equities, bonds, and alternatives such as hedge funds and private equity.
Neuberger Berman Australia gained a licence to operate in Australia in April 2011.
For more information please contact:
Lucas Rooney – 03 9607 8456
Paul O’Halloran – 09 9607 8452