Neuberger Berman of New York registered with the SEC last week to add a new technology growth fund that will be launched in May, according to Jennifer Silver, the company's managing director. The new fund will be managed by a team of portfolio managers led by Silver, according to Neuberger.
The fund's strategy is long-term growth by investing 65 percent of its assets in companies that are developing or offering products or services that will benefit from new or developing technology. The fund will invest in new and old companies of all sizes, Silver said.
"We are offering this fund to round out our growth offering and we believe the technology revolution is significant and longstanding and is not a trend," Silver said.