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Neuberger Berman Joins ETF Conversion Club After Slow Start

  • Mutual fund switch to bring asset manager’s ETF lineup to four
  • Conversions are growing as ETFs rake in billions in flows
Updated on

Neuberger Berman is planning to convert its only US commodity mutual fund into an ETF, the latest asset manager hopping on a trend expected to pump $1 trillion into the ETF ecosystem. 

The $233 million Neuberger Berman Commodity Strategy Fund (ticker NRBAX) is set to become an active, fully transparent ETF in the fourth quarter of 2022, according to regulatory filings. The switch brings Neuberger Berman’s exchange-traded fund lineup to four, and will instantly boost its assets in the industry. The company’s first ETFs, launched in April, have only managed to gather a combined $16 million in assets so far.