"Divergence is kind of the word of 2015."
, president and chief investment officer at Neuberger Berman
], summed things up that way this morning at the New York City-based mutual fund shop's 2015 investing outlook press breakfast. A dozen or two reporters, with more listening in on the phone, gathered for a briefing on the 41st floor of Neuberger's midtown Manhattan headquarters. The speakers included Neuberger's top PMs: Amato, multi-asset class CIO Erik Knutzen
, and alternatives CIO Tony Tutrone
. Fixed income CIO Brad Tank
videoed in from Chicago.
By divergence, Amato was referring to expected differences in central bank policy and in predicted returns for different countries' stock markets. Yet the term also applies to Neuberger itself; next week Neuberger's management is slated to send their final, $90-million check to the Lehman Brothers estate next week. Neuberger's management freed themselves from the estate's control in May 2009, eight months after Lehman collapsed, yet the process of buying out the estate's Neuberger stake has continued for five years.
The spread featured warm sweet potato hash and chicken-apple sausages, as well as yogurt, fruit, and mini-bagels, banana bread, biscuits, croissants, and other baked goods.
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