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The private investment management firm with $402 billion in assets under management (AUM), Neuberger Berman Group LLC, has revealed the company now has active exposure to cryptocurrencies like bitcoin. The multi-billion-dollar asset manager disclosed this information in a Form 497 in order to comply with the Securities and Exchange Commissionâs EDGAR filing system.
Neuberger Bermanâs 497 Shows Bitcoin and Ethereum Exposure
Neuberger Berman (NB) has detailed in a Form 497 filing with the Securities and Exchange Commission (SEC) that it is now permitting active exposure to crypto investments. The company is a well known wealth manager with $402 billion AUM today and in 2003 Neuberger Berman merged with Lehman Brothers.
Following the collapse of Lehman Brothers on September 15, 2008, Neuberger Berman continued to operate and spinned itself away from the parent company. The filing with SEC shows the firm permits exposure to cryptocurrencies now and mentions the leading crypto assets bitcoin (BTC) and ethereum (ETH) in the filing.
âNeuberger Berman Commodity Strategy Fundâs (the âFundâ) investment strategy will permit actively managed exposure to cryptocurrency investments and digital assets through (i) cryptocurrency derivatives, such as bitcoin futures and ether futures, and (ii) investments in bitcoin trusts and exchange-traded funds to gain indirect exposure to bitcoin.â
CIK Filing Discloses Crypto Volatility Fund, NB Blog Post Highlights the Benefits of Bitcoin
The statement also follows Neuberger Bermanâs Central Index Key (CIK) filing on the SECâs network system that discloses information on the âNeuberger Berman Hedged Cryptocurrency Volatility Fund LLC.â
The CIK filing was published on July 29 and thereâs been no official mention of the crypto fund from Neuberger Bermanâs marketing team. The company has been experiencing strong growth since 2010 seeing 14% per year when it tapped $250 billion AUM in 2014.
In mid-March, the crypto community caught a whiff of Neuberger Bermanâs interest in bitcoin when it published a blog post called âThe Bitcoin Experiment.â The editorial written by a number of Neuberger Berman asset managers highlights that the âascent of bitcoin is capturing the imagination of investors globally.â
What do you think about Neuberger Berman adding bitcoin and ethereum exposure? Let us know what you think about this subject in the comments section below.
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