Neuberger Berman Joins Wall Street ETF Rush With Thematic Funds
- Manager of $460 billion launches first three ETFs on Thursday
- Actively-managed funds are response to client demand, CIO says
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Neuberger Berman Group LLC is launching three actively managed exchange-traded funds Thursday, becoming the latest big asset manager to dive into Wall Street’s $7 trillion ETF industry.
The Neuberger Berman Connected Consumer ETF (ticker NBCC) focuses on companies that benefit from the spending habits of Gen Z and Millennials, or those born between roughly 1981 and 2012. The Carbon Transition & Infrastructure ETF (NBCT) invests in businesses transitioning to low-carbon resources, electrification, and carbon-reduction solutions. The Disrupters ETF (NBDS) targets roughly 30 companies across tech, healthcare, consumer, and financials that can shape the future.