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NCEIX Neuberger Berman Greater China Eq Instl

  • Fund
  • NCEIX
  • Price as of: Apr 18, 2019
  • $10.16
  • - $0.00
  • - 0.00%
  • Category
  • China Equities

NCEIX - Profile

Vitals

  • YTD Return 28.3%
  • 3 Yr Annualized Return 17.7%
  • 5 Yr Annualized Return 13.9%
  • Net Assets $53 M
  • Holdings in Top 10 55.8%

52 WEEK LOW AND HIGH

$10.16
$7.61
$17.72

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.58%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 60.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of 2017-09-20

STANDARD (TAXABLE)

$1,000,000

IRA

$1,000,000

Investment Themes

CATEGORY

China Equities
  • Fund Type Open End Mutual Fund
  • Investment Style China Region

Distributions

  • YTD Total Return 28.3%
  • 3 Yr Annualized Total Return 17.7%
  • 5 Yr Annualized Total Return 13.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.03%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Neuberger Berman Greater China Equity Fund
  • Fund Family Name Neuberger Berman
  • Inception Date Jul 17, 2013
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Yulin (Frank) Yao

Fund Description

The fund invests at least 80% of its net assets in equity investments that are tied economically to the greater China region. Its equity investments primarily will consist of investments in equity securities, including common stock, preferred stock, and depositary receipts. The fund may invest in companies of any market capitalization, but the advisor intends to invest primarily in mid- and large-capitalization companies. It is non-diversified.

NCEIX - Performance

Return Ranking - Trailing

Period NCEIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 28.3% -17.7% 44.5% 9.46% 1
1 Yr -10.6% -32.3% 47.0% 81.58% 5
3 Yr 17.7% * -3.2% 18.3% 7.35% 1
5 Yr 13.9% * 2.8% 13.9% 1.49% 1
10 Yr N/A * 2.0% 13.9% N/A N/A

* Annualized


Return Ranking - Calendar

Period NCEIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -50.4% -52.1% 57.6% 90.54% 5
2017 48.5% -28.2% 58.1% 16.22% 1
2016 -4.3% -17.2% 12.4% 60.81% 4
2015 -11.4% -34.4% 19.8% 59.46% 4
2014 14.5% -30.0% 25.5% 17.81% 1

Total Return Ranking - Trailing

Period NCEIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 28.3% -17.7% 44.5% 9.86% 1
1 Yr -10.6% -33.1% 47.0% 75.34% 4
3 Yr 17.7% * -5.0% 18.3% 5.88% 1
5 Yr 13.9% * 2.8% 13.9% 1.49% 1
10 Yr N/A * 1.9% 13.9% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period NCEIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -50.4% -52.1% 57.6% 94.37% 5
2017 48.5% -16.9% 58.1% 16.90% 1
2016 -4.3% -16.0% 13.9% 67.61% 4
2015 0.6% -18.3% 24.4% 38.03% 2
2014 27.5% -31.8% 49.2% 8.57% 1

NAV & Total Return History

NCEIX - Holdings

Filings data as of: Dec 31, 2018

Concentration Analysis

NCEIX Category Low Category High NCEIX % Rank Quintile
Net Assets 53 M 2.84 M 1.24 B 24.68% 3
Number of Holdings 36 29 160 28.57% 4
Net Assets in Top 10 25.9 M 1.8 M 545 M 23.38% 3
Weighting of Top 10 55.8% 28.4% 68.2% 11.69% 2

Top 10 Holdings

  1. Tencent Holdings Ltd 9.58%
  2. Alibaba Group Holding Ltd ADR 9.73%
  3. China Construction Bank Corp H 8.17%
  4. Gree Electric Appliances Inc of Zhuhai 4.79%
  5. ZTO Express (Cayman) Inc ADR 4.06%
  6. Inner Mongolia Yili Industrial Group Co Ltd 4.14%
  7. China Taiping Insurance Holdings Co Ltd 3.70%
  8. Guangzhou Automobile Group Co Ltd H 4.18%
  9. Ping An Insurance (Group) Co. of China Ltd H 4.31%
  10. Shenzhou International Group Holdings Ltd 3.15%

Asset Allocation

Weighting Category Low Category High NCEIX % Rank Quintile
Stocks
96.89% 86.05% 103.16% 27.27% 3
Cash
3.11% -3.16% 13.72% 12.99% 2
Preferred Stocks
0.00% 0.00% 0.79% 2.60% 1
Other
0.00% -0.04% 13.95% 11.69% 2
Convertible Bonds
0.00% 0.00% 0.00% 1.30% 1
Bonds
0.00% -0.31% 0.39% 2.60% 2

Stock Sector Breakdown

Weighting Category Low Category High NCEIX % Rank Quintile
Consumer Cyclical
27.50% 2.43% 29.18% 3.90% 1
Financial Services
23.03% 0.00% 46.97% 19.48% 3
Technology
14.47% 7.26% 56.51% 38.96% 5
Industrials
9.27% 0.00% 21.41% 15.58% 2
Consumer Defense
6.62% 0.00% 15.19% 18.18% 3
Healthcare
4.82% 0.00% 18.88% 20.78% 2
Basic Materials
4.60% 0.00% 15.70% 11.69% 2
Real Estate
3.73% 0.00% 13.48% 23.38% 3
Communication Services
1.52% 0.00% 10.78% 32.47% 4
Energy
1.32% 0.00% 18.56% 29.87% 4
Utilities
0.00% 0.00% 9.04% 31.17% 4

Stock Geographic Breakdown

Weighting Category Low Category High NCEIX % Rank Quintile
Non US
96.89% 85.82% 103.16% 19.48% 3
US
0.00% -0.23% 2.78% 22.08% 3

NCEIX - Expenses

Operational Fees

NCEIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.58% 0.91% 9.06% 63.64% 2
Management Fee 1.25% 0.66% 1.36% 6.49% 4
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee 0.15% 0.05% 0.30% 8.16% 4

Sales Fees

NCEIX Fees (% of AUM) Category Low Category High NCEIX Rank Quintile
Front Load N/A 0.15% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

NCEIX Fees (% of AUM) Category Low Category High NCEIX Rank Quintile
Max Redemption Fee N/A 0.05% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

NCEIX Fees (% of AUM) Category Low Category High NCEIX Rank Quintile
Turnover 60.00% 6.00% 156.89% 19.48% 3

NCEIX - Distributions

Dividend Yield Analysis

NCEIX Category Low Category High NCEIX % Rank Quintile
Dividend Yield 0.2% 0.00% 4.43% 39.39% 2

Dividend Distribution Analysis

NCEIX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Quarterly Annually

Dividend Payout History


Net Income Ratio Analysis

NCEIX Category Low Category High NCEIX % Rank Quintile
Net Income Ratio 0.03% -1.14% 2.58% 66.23% 4

Capital Gain Distribution Analysis

NCEIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

NCEIX - Managers

Yulin (Frank) Yao

Manager

Start Date

Jul 17, 2013

Tenure

5.71

Tenure Rank

14.2%

Yulin (Frank) Yao, is a Managing Partner and Senior Portfolio Manager at Green Court. Prior to founding the firm, he was a Managing Director at Neuberger Berman and Senior Portfolio Manager for the Neuberger Berman Greater China Investment Team, originally joining Neuberger Berman in 2008. Previously, he was a Managing Director and Senior Portfolio Manager at Avenue Capital where he was responsible for directing the investment activities of the Avenue Greater China Equity Funds. From 2004 to 2007, he was an Executive Vice President and Chief Investment Officer at Hua An Fund Management. Under his leadership, the firm received the Best of Best Awards for China Equity (1-year and 3-year) from Asia Asset Management, a Hong Kong-based independent research firm. Before joining Hua An, he was with Berens Capital, a New York-based hedge fund investment firm, where he was responsible for portfolio construction, quantitative analysis and risk management. Previously, Frank developed and managed a quantitative equity portfolio at Alpha Asset Management, conducted global asset allocation and risk management at Goldman Sachs and helped build the mortgage-backed securities analytics for Dow Jones (formerly Telerate), all in the United States. Frank is a member of the Standing Committee of Chinese People's Political Consultative Conference (CCPCC) in Shanghai Pudong. He sits on the QDII Expert Committee for China Securities Regulatory Commission (CSRC) and was a member of the Financial Market Expert Group for PBOC (China’s central bank) from 2005–2007. Frank received a BS at Fudan University, an MS at the Georgia Institute of Technology and an MBA in Finance from the Stern School of Business at New York University, where he was honored as a Stern Scholar. Frank also conducted a PhD study in Engineering at Columbia University.


Lihui Tang

Manager

Start Date

Jul 17, 2013

Tenure

5.71

Tenure Rank

14.2%

Lihui Tang, CFA, is a Partner and Portfolio Manager at Green Court. Prior to this, he was a Managing Director at Neuberger Berman and Portfolio Manager for the Neuberger Berman Greater China Investment Team, originally joining Neuberger Berman in 2008. Based in Hong Kong, Lihui is the Portfolio Manager for the Greater China Equity Team. Previously, he was a senior vice president at Avenue Capital, where he was a portfolio manager for the Avenue Greater China Equity Funds team. Prior to that, he was a portfolio manager and deputy head of research at Hua An Fund Management, where he managed two active funds. These funds received numerous awards from Morningstar, Lipper and Chinese publications. Before joining Hua An, he was a research analyst with SYWG Securities in Shanghai, responsible for the pharmaceutical sector. Prior to that, he was also a research analyst with Da Peng Securities in the real estate and building materials industries. Lihui received a BS in Engineering at Shanghai Jiao Tong University and an MS in Economics from Tongji University. He also has been awarded the Chartered Financial Analyst designation.


Tenure Analysis

Category Low

0.2

Category High

25.2

Category Average

5.92

Category Mode

4.3