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NN IP sustainable equity team to join Neuberger Berman

Neuberger Berman has recruited the global sustainable equity team from NN Investment Partners (NN IP), our sister publication ESG Clarity understands.

A Morningstar analyst note revealed most of NN IP’s sustainable equities team, which runs the NN Global Sustainable Equity and NN Duurzaam Aandelen Fonds, are to leave the firm.

Team members set to join Neuberger Berman include Hendrik-Jan Boer, who is lead manager of the above strategies, as well as two other portfolio managers, Alex Zuiderwijk and Jeroen Brand.

It is also understood that four analysts – Mark van der Geest, Aleksander Kushev, Camiel Mulders and Philip Chau – are departing.

Under review

The Morningstar note said: “NN IP has announced that most team members of the group managing their sustainable equity strategies… will leave the firm. Following the departures, we place both funds ‘Under Review’.

“Hendrik-Jan Boer, who has been the long-tenured lead manager of these strategies since 2004 and who was instrumental to our conviction in this team given his vast experience in sustainable investing, has left NN IP.

“Alex Zuiderwijk and Jeroen Brand, the two other portfolio managers alongside Boer, resigned as well. Furthermore, four out of the seven dedicated analysts to these strategies also departed and will join the three portfolio managers at Neuberger Berman.

“The team lift is a very heavy loss for NN IP and especially for their sustainable equity strategies. Our main conviction in these funds was based on its team, as we especially held Boer in high regard.”

Neuberger Berman declined to comment on the appointments.

Internal people moves

At NN IP, Morningstar said the departed team members have been replaced on an ad interim basis.

Jeroen Bos, head of specialised equity and responsible investing, has taken over responsibility for leading the sustainable equity strategies, while day-to-day management will be taken over by Ivo Luiten (currently portfolio manager on NN’s impact strategies), Pieter Schop (currently portfolio manager for NN IP’s global high dividend strategy), Hans Slob, and Oskar Tijs (currently both part of the dedicated analyst team for this strategy).

Neuberger Berman integrates ESG throughout its offerings and has some 150 ESG-focused analysts embedded across its portfolio management teams.

It also has four specific sustainable funds in its range; including NB Japan Equity Engagement Fund, Emerging Markets Sustainable Equity Fund, Global High Yield Sustainable Action Fund and  Emerging Market Debt Sustainable Investment Grade Bond Fund.

ESG Clarity has contacted NN IP for comment.

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