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Thursday, April 25, 2002|
Lipper Sends Fund to Neuberger
Nueberger Berman is getting more than just portfolio managers from Lipper & Company, reports the New York Post. Neuberger will take over the Lipper high yield mutual fund, according to a filing with the SEC. Lipper also filed paperwork to close two additional funds, Lipper U.S. Equity and Lipper Merger fund.
The funds are being closed due to a "lack of investor interest", according to the filings.
Lipper's fourth european stock fund was not mentioned in the filings.
The paper reports that the Lipper U.S. Equity has only $6 million in assets and that the Lipper Merger has about $1 million. The two funds had $24 million and $2.5 million.
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