A New Neuberger
By Donna Rosato

(MONEY Magazine) – Historically known as a boutique value firm, Neuberger Berman--which was bought by Lehman Brothers in October--has spent the bear market remaking itself. The no-load fund family has expanded its lineup, beefed up its research department and recruited new portfolio managers in an effort to broaden its appeal and boost performance. Have the moves paid off? The early signs are good. The bulk of the firm's largest equity funds rank in the top 10% of their categories for 2003 after languishing for years. NB FOCUS, thanks to a heavy dose of financials and computer hardware, was 2003's top-performing large-cap blend fund through early December; the flagship NB GUARDIAN has posted gains of 30% vs. 23% for the S&P 500. --DONNA ROSATO