Neuberger Berman Greater China Equity Fund

Data updated: 2023-11-07

C000129334 — Neuberger Berman Greater China Equity Fund. China Blend / Core Equity · $1.67M AUM. Holdings, fees, performance and SEC filings.

C000129334 Fund Overview

Neuberger Berman Greater China Equity Fund is a US mutual fund managed by Neuberger Berman Equity Funds, categorised as China Blend / Core Equity. 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 Equity Funds
Category: China Blend / Core Equity
Assets under management: $1.67M
1-year return: -16.1%
SEC CIK: 0000044402
SEC series ID: S000041658
Share class ID: C000129334

C000129334 Investment Objective and Strategy

Neuberger Berman Greater China Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Neuberger Berman Equity Funds.

Investment objective

The Fund seeks long-term growth of capital.

Principal investment strategy

To pursue its goal, the Fund normally invests at least 80% of its net assets in equity investments that are tied economically to the Greater China region. Green Court Capital Management Limited, the Funds sub-adviser, considers the Greater China region to include mainland China, Hong Kong, Macau and Taiwan. The Funds equity investments include both equity securities and equity-linked investments, which may be listed or traded on recognized or over-the-counter markets located both inside and outside of the Greater China region, including, without limitation, in the United States, the United Kingdom, Singapore and Japan. An equity investment will be considered to be tied economically to the Greater China region if the issuer is domiciled in the Greater China region or has at least 50% of its assets in, or derives 50% or more of its revenues or profits from, the Greater China region, or if the equity investments returns are linked to the performance of such an issuer.

The Funds equity investments primarily will consist of investments in equity securities, including common stock, preferred stock, and depositary receipts. Securities of companies located in China include China A-shares, China B-shares, and China H-shares, among others. Foreign ownership of China A-shares is subject to certain limitations set by the Chinese government. The Fund may get exposure to China A-shares by investing in equity-linked investments (which are derivative instruments) issued by financial institutions, including, without limitation, participatory notes and other structured notes, swaps, including total return swaps and contracts for differences (i.e., an arrangement in which the parties agree that their return (or loss) will be based on the relative performance of two different groups or baskets of securities), and low exercise priced options (LEPOs) (i.e., instruments that pay the holder the difference in price of the underlying security between the date the LEPO was purchased and the date it is sold).

The Fund may also invest in China A-shares using the connect programs of local stock exchanges in China, such as the Shanghai-Hong Kong Stock Connect Program, the Shenzhen-Hong Kong Stock Connect Program or other similar programs, or by using other methods, subject to any required approvals. The Fund may invest in companies of any market capitalization, but intends to invest generally in mid- and large-capitalization companies that the Portfolio Managers believe are undervalued in an attempt to outperform the average return of the Funds benchmark over the long-term. Listed companies in the Greater China region are not as well researched as companies in other markets. This may lead to high variability of returns for companies in the Greater China region, even within the same sector. Because of this, the Portfolio Managers employ a bottom-up, research intensive and fundamentals-driven approach to selecting investments for the Fund.

The Portfolio Managers endeavor to gain an understanding of companies through discussions with suppliers, distributors, clients, competitors and government agencies. This is a process which they believe is a key element to investing in inefficient markets. The Portfolio Managers also make on-going assessments of macroeconomic and market factors to augment their selection process. The Portfolio Managers focus on understanding key issues that affect valuations and identifying investments they believe are undervalued. Generally, the Portfolio Managers seek to invest in companies that have strong recurring operating cash flows where revenues and earnings are growing from their core businesses versus relying on new products in untested markets. The Portfolio Managers consider the perceived downside risk of a position before including the position in the Fund.

Allocation to each position is dependent on a number of factors including, but not limited to: conviction in the company, target price, correlation across positions and perceived downside risk. The Fund is a non-diversified fund, which means that it can invest more of its assets in fewer companies than a diversified fund. At times, the Portfolio Managers may emphasize certain sectors that they believe will benefit from market or economic trends. In particular, the Portfolio Managers will focus on sectors they believe will benefit from long-term growth in the Greater China region, such as broad, consumption-driven sectors and infrastructure-related sectors in the Greater China region. Although the Portfolio Managers seek to invest for the long-term, the Fund may engage in active and frequent trading when the Portfolio Managers gradually build a position or during periods of high market volatility in the Greater China region.

The Portfolio Managers follow a disciplined selling strategy and may sell a position when it reaches a target price or when there are changes to macroeconomic factors, markets, sectors and/or the company that would alter the Portfolio Managers assumptions about the company. The Fund will not change its strategy of normally investing at least 80% of its net assets in equity investments that are tied economically to the Greater China region, without providing shareholders at least 60 days notice. This test is applied at the time the Fund invests; later percentage changes caused by a change in Fund assets, market values or company circumstances will not require the Fund to dispose of a holding.

C000129334 Performance

Total returns for C000129334 (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	-16.1%
3 years (annualised)	-12.1%

C000129334 Risk Information

Risk metrics for C000129334, derived from monthly returns in SEC filings.

1-year volatility (annualised): 42.0%

C000129334 Costs and Fees

C000129334 costs about $151 per $10,000 invested per year in fund expenses.

Net expense ratio: 1.51%
Gross expense ratio: 1.91%
Portfolio turnover: 53%
Brokerage commissions: 15.41 bps of average net assets (SEC N-CEN)

C000129334 Cashflows

Over the 12 months to 2023-08, Neuberger Berman Greater China Equity Fund had net outflows of $30.36M, from monthly SEC N-PORT filings.

Month	Net flow
2023-08	−$190.37K
2023-07	−$82.98K
2023-06	−$138.49K
2023-05	−$740.08K
2023-04	−$22.42M
2023-03	−$36.78K

C000129334 Debt Constituents

No individual debt constituents are reported in Neuberger Berman Greater China Equity Fund's latest SEC N-PORT filing.

C000129334 Prospectus and SEC Filings

Official Neuberger Berman Greater China Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other China Blend / Core Equity 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.