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I am adding
Neuberger Berman Socially Responsive
NRAAX
to the Morningstar
500
. The fund has a
Morningstar Analyst Rating of Bronze and is managed
using socially responsible screens. The fund’s no-
load shares are closed, but its A shares are available
without a load or any other transaction fee on some
of the big No Transaction Fee fund supermarkets.
The large-cap fund screens out companies with expo-
sure to tobacco, weapons, gambling, and nuclear
power while tilting toward companies with strong
records in the environment, community, and
the workplace.
The fund is currently undergoing a management
transition, but we have enough confidence in the
successor team to keep the fund in our Morningstar
Medalist ranks. Lead manager Arthur Moretti will
retire in February
2016
, and three comanagers will
take the helm.
Ingrid Dyott and Sajjad Ladiwala became listed
comanagers of this fund and
Neuberger Berman
Guardian
NGUAX
in December
2003
, and they
will continue to run this fund after Moretti’s retire-
ment. Dyott has been with Neuberger since
1997
,
including two years as an analyst under Moretti,
before which she spent two years at the Council
on Economic Priorities. Ladiwala joined Neuberger
in
2002
, before which he spent two years as an
analyst at Merrill Lynch and six years at Duff
&
Phelps.
Mamundi Subhas was promoted to comanager
in December
2008
after joining the team in
2001
,
and he had
20
years of industry experience before
arriving at Neuberger.
See the facing page for more details.
Calamos Growth Leaves
To make room, I am dropping
Calamos Growth
CVGRX
. The
1
-star fund has been disappointing in
recent years, and it has lost comanager Gary
Black, who came on board three years ago to help
Calamos right the ship. Thus, the fund isn’t provi-
ding much reason to stick around, and we are drop-
ping it from coverage.
K
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Use the list to get new in-
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Neuberger Berman Fund Joins 500
Changes to the 500
|
Russel Kinnel
Summary of Changes
Add
Drop
Neuberger Berman Socially Responsible Calamos Growth
Rating Change (Upgrade)
From
To
Fidelity Diversified International
‰ ´
Rating Change (Downgrades)
From
To
Matthews Pacific Tiger Investor
Œ •
Fidelity Spartan Extended Mkt Index Inv
Œ •
Neuberger Berman Socially Rspns A
• ´
Rating Change (Under Review)
From
To
First Eagle Global A
´ ˆ
First Eagle US Value A
´ ˆ
First Eagle Fund of America Y
• ˆ
New
Ratings
To
Royce Special Equity Multi-Cap Service
´
Royce Pennsylvania Mutual Invmt
‰