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:
“... all big changes in human history have been arrived at slowly and through many compromises.”
—Eleanor Roosevelt (1884–1962)
“The one duty we owe to history is to rewrite it.”
—Oscar Wilde (1854–1900)
“History is not what you thought. It is what you can remember. All other history defeats itself.
In Beverly Hills ... they don’t throw their garbage away. They make it into television shows.
Idealism is the despot of thought, just as politics is the despot of will.”
—Mikhail Bakunin (1814–1876)