Neuberger Berman Risk Balanced Commodity Strategy Fund
Data updated: 2022-11-10
C000108849 — Neuberger Berman Risk Balanced Commodity Strategy Fund. Commodity · $241.15M AUM. Holdings, fees, performance and SEC filings.
C000108849 Fund Overview
Neuberger Berman Risk Balanced Commodity Strategy Fund is a US mutual fund managed by Neuberger Berman Alternative Funds, categorised as Commodity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Neuberger Berman Alternative Funds
- Category: Commodity
- Assets under management: $241.15M
- 1-year return: 21.5%
- SEC CIK: 0001317474
- SEC series ID: S000035445
- Share class ID: C000108849
C000108849 Investment Objective and Strategy
Neuberger Berman Risk Balanced Commodity Strategy Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Neuberger Berman Alternative Funds.
Investment objective
The Fund seeks total return.
Principal investment strategy
The Fund seeks to achieve its goal by investing under normal circumstances in commodity-linked derivative instruments and fixed income instruments. Commodities are assets that have tangible properties, such as oil, natural gas, agricultural products or metals. The Fund seeks to gain exposure to the commodity markets by investing, directly or indirectly, in futures contracts on individual commodities and other commodity-linked derivative instruments. The performance of these commodity-linked derivative instruments is expected to correspond to the performance of the commodity underlying the derivative instrument, without requiring the Fund to invest directly in commodities. Although the Fund may make these investments in commodity-linked derivative instruments directly, the Fund expects to gain exposure to these investments primarily by investing in a wholly owned subsidiary of the Fund formed in the Cayman Islands (Subsidiary).
The Subsidiary is managed by Neuberger Berman Investment Advisers LLC and has the same investment goal as the Fund. The Subsidiary may invest without limitation in commodity-linked derivative instruments. The Subsidiary also may invest in fixed income securities, cash or cash equivalent instruments, or money market mutual funds, some of which may serve as collateral for the Subsidiarys derivative instruments. The Fund will not invest more than 25% of the value of its total assets in the Subsidiary at the end of any quarter of its taxable year. Fund assets not invested either in the Subsidiary or directly in commodity-linked derivative instruments will be invested in fixed income securities, cash or cash equivalent instruments, or money market mutual funds. The Fund (and the Subsidiary) may hold commodity-linked derivative instruments that provide leveraged exposure to commodities so that the Funds (and the Subsidiarys) investment exposure to commodities (through their use of commodity-linked derivative instruments) may exceed the Funds net assets (including its interest in the Subsidiary).
In managing the Funds commodity investments, the Portfolio Managers seek to identify investment opportunities using quantitative investment models and fundamental analyses with an emphasis on risk management in an attempt to take advantage of both short-term and long-term opportunities in commodity markets. By managing a broadly diversified portfolio of commodity investments with an active investment approach, the Portfolio Managers seek to provide investors with an investment vehicle whose returns are not highly correlated with other major asset classes. The Portfolio Managers will use various quantitative models employing strategies intended to identify investment opportunities and determine portfolio weightings in different commodity sectors and markets. These strategies include: (i) a risk-balancing strategy that considers the total portfolio risk the Portfolio Managers believe to be associated with each commodity; (ii) a strategy that endeavors to assess top down macro variables among various commodity sectors (such as, energy, industrial, precious metals, agricultural, livestock and softs (e.g., sugar, cotton, cocoa and coffee); and/or (iii) a strategy that endeavors to assess the outlook for individual commodities within each commodity sector.
From time to time, the Funds investment program may emphasize a particular sector of the commodities markets. If the Fund emphasizes one or more sectors the performance of your investment in the Fund will likely be affected by events affecting the performance of those sectors. Additional information about certain risks related to the various commodities markets are summarized under Additional Information about Principal Investment Risks in the Prospectus. The Funds fixed income investments will be mainly in investment grade fixed income securities and are intended to provide liquidity and preserve capital and may serve as collateral for the Funds derivative instruments. These may include fixed income securities issued by the U.S. government and its agencies and instrumentalities, mortgage-backed securities, asset-backed securities, and corporate securities.
The Fund considers fixed income securities to be investment grade if, at the time of investment, they are rated within the four highest categories by at least one independent credit rating agency or, if unrated, are determined by the Portfolio Managers to be of comparable quality. The Fund may invest in cash or cash equivalent instruments. Because the Fund will use derivatives to gain exposure to commodities, and because derivatives may not require the Fund to deposit the full notional amount of the investment, the Fund may invest a significant amount of its assets in money market mutual funds. Although the Fund invests primarily in domestic securities and other instruments, it may also invest in foreign securities and other instruments. In an effort to achieve its goal, the Fund may engage in active and frequent trading.
C000108849 Performance
Total returns for C000108849 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 21.5% |
| 3 years (annualised) | 16.2% |
C000108849 Risk Information
Risk metrics for C000108849, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 18.7%
C000108849 Costs and Fees
C000108849 costs about $74 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.74%
- Gross expense ratio: 0.99%
- Portfolio turnover: 56%
- Brokerage commissions: 1.07 bps of average net assets (SEC N-CEN)
C000108849 Cashflows
Over the 12 months to 2022-08, Neuberger Berman Risk Balanced Commodity Strategy Fund had net inflows of $106.05M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-08 | −$4.32M |
| 2022-07 | $2.82M |
| 2022-06 | $21.12M |
| 2022-05 | −$1.51M |
| 2022-04 | $2.21M |
| 2022-03 | $14.11M |
C000108849 Debt Constituents
No individual debt constituents are reported in Neuberger Berman Risk Balanced Commodity Strategy Fund's latest SEC N-PORT filing.
C000108849 Prospectus and SEC Filings
Official Neuberger Berman Risk Balanced Commodity Strategy Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-02-25
- Prospectus (485BPOS) — filed 2021-02-26
- Prospectus (485BPOS) — filed 2020-03-18
- Portfolio holdings (N-PORT) — filed 2022-10-25
- Portfolio holdings (N-PORT) — filed 2022-09-23
- Portfolio holdings (N-PORT) — filed 2022-06-27
- Annual census (N-CEN) — filed 2022-11-10
- Annual census (N-CEN) — filed 2021-01-11
Related Funds
Other Commodity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.