History
Neuberger Berman was originally founded as "Neuberger & Berman", in 1939, by Roy R. Neuberger and Robert Berman, to manage money for high-net-worth individuals.
In the decades that followed its founding, the firm's growth mirrored that of the asset-management industry as a whole. Its success in managing separate accounts, led it to establish the Guardian Fund, in 1950, one of the first no-load mutual funds in the United States. Today, the firm’s complex of roughly 30 open and closed-end mutual funds, includes other well-known funds, including Century Fund (renamed Large Cap Disciplined Growth Fund) and Genesis Fund. In the 1960s, the firm expanded into the management of pension plans and assets of other institutions. In 1979, the firm acquired the Manhattan Fund, from CNA Financial.
Historically known for its value-investing style, in the 1990s the firm began to diversify its competencies to include additional value and growth investments, across the entire capitalization spectrum, as well as new investment categories, such as international, real-estate investment trusts and high-yield investments. In addition, with the creation of several trust companies, the firm offered trust and fiduciary services.
Read more about this topic: Neuberger Berman
Famous quotes containing the word history:
“The history of the world is the record of the weakness, frailty and death of public opinion.”
—Samuel Butler (1835–1902)
“I think that Richard Nixon will go down in history as a true folk hero, who struck a vital blow to the whole diseased concept of the revered image and gave the American virtue of irreverence and skepticism back to the people.”
—William Burroughs (b. 1914)
“To care for the quarrels of the past, to identify oneself passionately with a cause that became, politically speaking, a losing cause with the birth of the modern world, is to experience a kind of straining against reality, a rebellious nonconformity that, again, is rare in America, where children are instructed in the virtues of the system they live under, as though history had achieved a happy ending in American civics.”
—Mary McCarthy (1912–1989)