Neuberger Berman Absolute Return Multi-Manager Fund to Utilize J.P. Morgan Prime Custody Solutions and Fund Services

New York, June 25, 2012 – J.P. Morgan announced today that it has been selected by Neuberger Berman, one of the world’s leading employee-owned money managers, to provide a suite of securities services, including integrated prime custody services, fund accounting and fund administration for its newly launched Neuberger Berman Absolute Return Multi-Manager Fund (tickers: NABAX, NABCX, and NABIX).

According to Neuberger Berman, the Neuberger Berman Absolute Return Multi-Manager Fund seeks capital appreciation with an emphasis on absolute returns by allocating its assets to multiple hedge fund advisers that employ distinct alternative investment strategies. The Fund is the first such fund from an asset manager with the size and operational infrastructure of Neuberger Berman and is managed by members of its Fund of Hedge Funds team. This is the first time this team’s expertise has been offered in a mutual fund.

J.P. Morgan's Prime Custody Solutions platform combines prime brokerage and global custody in an integrated offering. The group leverages two of the market-leading J.P. Morgan franchises: J.P. Morgan Worldwide Securities Services, a premier securities servicing and fund administration provider and J. P. Morgan Prime Brokerage, a market-leading global prime brokerage. J.P. Morgan’s Prime Custody Solutions provides tools to help mutual funds comply with the ’40 Act and SEC requirements regarding bank custody and shorting and/or leveraging alternatives strategies provided by a broker dealer.  J.P. Morgan’s offering includes automated collateral management, consolidated reporting and integrated customer service and on-boarding across all products.

“We believe that alternative mutual fund solutions—‘liquid alternatives’—are ready to enter the mainstream of retail mutual fund investing. Neuberger Berman is well placed here, with our deep experience in mutual funds and significant alternatives business. The Fund is applicable to investors who have historically not been able to access hedge fund strategies as well as institutions that seek liquid and cost-effective solutions,” said Robert Conti, CEO of Neuberger Berman Management LLC. “Our decision to partner with J.P. Morgan reflects our confidence in their ability to support us across this multi-faceted and diverse set of strategies.”

Devon George-Eghdami, Managing Director and Head of Prime Custody Solutions said, “We are delighted to be working with Neuberger Berman as they are a leader in the fund management industry, offering hedge fund strategies through ’40 act mutual funds structures. Our Prime Custody Solutions coupled with our market-leading fund accounting and administration offering makes J.P. Morgan uniquely positioned to service Neuberger Berman’s newly launched Fund.”

About Neuberger Berman
Neuberger Berman is a private, independent, employee-controlled investment manager. It partners with institutions, advisors and individuals throughout the world to customize solutions that address their needs for income, growth and capital preservation. With more than 1,700 professionals focused exclusively on asset management, it offers an investment culture of independent thinking. Founded in 1939, the company provides solutions across equities, fixed income, hedge funds and private equity, and had $199 billion in assets under management as of March 31, 2012. For more information, please visit www.nb.com.

About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing and fund administration provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A business of JP Morgan Chase & Co., WSS leverages the firm’s global scale, leading technology and deep industry expertise to service investments around the world.  It has $17.9 trillion in assets under custody and $7.3 trillion in funds under administration. 

About J.P. Morgan’s Prime Custody Solutions Group
J.P. Morgan offers unique and comprehensive solutions that enable funds to combine their prime services, global custody and other securities service needs in an integrated approach.  Custody services and interest rate derivatives are offered through JPMorgan Chase Bank, N.A., member FDIC; equity and FX prime brokerage services are offered through J.P. Morgan Clearing Corp., member SIPC, FINRA, and NYSE; securities products are offered through J.P. Morgan Securities LLC, member SIPC, FINRA, and NYSE.

About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.3 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

None of the foregoing is intended to be, nor should it be considered a solicitation to purchase or an offer to sell any fund. The products and services featured above are offered by JPMorgan Chase Bank, N.A., a subsidiary of JPMorgan Chase & Co. JPMorgan Chase Bank, N.A. is regulated by the OCC in the U.S. J.P. Morgan is a marketing name for Worldwide Securities Services businesses of JPMorgan Chase & Co. and its subsidiaries worldwide.

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