Neuberger Berman US Long Short Equity Fund - I EUR ACC Fonds

The Fund aims to increase the value of your shares whilst seeking to preserve capital primarily through taking long and synthetic short positions in equity and equity-linked securities listed or traded in US equity markets. The Fund may also, but to a lesser extent take long and synthetic short positions in equity, equity-linked securities and Exchanged Traded Instruments ('ETFs') on recognised markets (defined in Prospectus) located in the countries comprising the MSCI ACWI (All Country World Index). The Fund will seek to invest in companies across all industrial sectors with a market capitalisation of at least USD 250 million. The net market exposure (sum of long and synthetic short positions) of the Fund will typically be positive, meaning the long positions will generally be in greater proportion than the synthetic short positions. Investment selection is the result of research and analysis in an effort to identify companies that have the potential to increase in value, are financially stable and have a strong competitive position within their industry. The Fund may not invest greater than 20% of its Net Asset Value ('NAV') in emerging market (less developed) countries.