May 1, 2002 — Neuberger Berman (NEU) has introduced a mutual fund that invests in real estate-related securities.
The Neuberger Berman Real Estate fund invests primarily in real estate investment trusts and stocks and other securities of companies involved in real estate. It can hold up to 20% of its assets in debt securities.
The fund is managed by Steven Brown, who helped run Cohen & Steers Adv Inc Rlty Fd (RLF), a closed-end real estate fund, before joining Neuberger Berman in January. Brown also was part of the team that oversees the Cohen & Steers Equity Income/A Fund (CSEIX).
The new fund requires a minimum initial investment of $1,000.