Effective September, the fund will adopt a new strategy. According to the firm, it will invest at least 80% of its assets in large-cap companies and will primarily focus on domestic stocks in the US. However, it has the flexibility to invest in ADRs and real estate investment trusts, the firm noted in the filings.
Before the change, the global equity strategy, which was launched in 2011 and has around $4.8m in assets, invests in mid-large cap companies listed globally, with a focus on quality at a reasonable price, according to the firm’s website.
The product has 45% of its assets in non-US equities and 24% in mid-cap stocks, according to data from Morningstar Direct.
FSA sought more information from the firm, but it was not able to reply in time for publication.
Benjamin Segal and Elias Cohen will no longer be the managers of the fund, according to SEC filings. However, it did not say whether both have left the firm.
Segal has been with the firm for 21 years, while Cohen joined the firm in 2000, according to the firm’s website.
Replacing them are Simon Griffiths, the firm’s managing director and head of quantitative research and development, and Jacob Gamerman, managing director and member of the global equity research department.
The NB Global Equity Fund versus its benchmark