HEAD-TO-HEAD: JP Morgan versus Neuberger Berman

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Manager review

“Both funds benefit from being run by highly experienced managers,” said Poole.

A long-time JP Morgan employee, Clare Hart took over the reins of the US value product last year, and brought with her Andrew Brandon, who was elevated from analyst to portfolio manager at the firm in 2018. Hart has been with JP Morgan AM since 1999, and was previously an associate in Salomon Smith Barney’s equity research division covering real estate investment trusts. She began her career at Arthur Andersen, working as a public accountant.

“Hart has been part of the JP Morgan US value team for many years, so the change in management hasn’t caused any significant discontinuity of strategy or process,” said Poole.

In addition, she is the lead portfolio manager of the JPMorgan Equity Income Strategy and the JPMorgan Growth & Income Strategy.

Dave Silberman, who is also a portfolio manager for the JP Morgan Equity Income and the JPMorgan Growth & Income Funds within the US equity group, joined Hart and Brandon at the US Value product last year.

Silberman has worked at JP Morgan since 1989, and he combines his portfolio management role with responsibility for corporate governance for the firm’s equity teams globally.

Meanwhile, “management of the Neuberger Berman fund has been remarkably consistent,” said Poole.

Richard Nackenson has been in charge since its launch in November 2013, and he is supported by a group of about 30 analysts.

Nackenson joined Neuberger Berman in 1999, joining from Appaloosa Management where he was a securities analyst. He also worked as a senior research analyst with Pzena Investment Management, and began his career with McKinsey.

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