| REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | [ X ] | ||||||
| Pre-Effective Amendment No. | [ ] | ||||||
| Post-Effective Amendment No. | 172 | [ X ] | |||||
| REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | [ X ] | ||||||
| Amendment No. | 127 | [ X ] | |||||
| X | immediately upon filing pursuant to paragraph (b) | |||
| on ______________ pursuant to paragraph (b) | ||||
| 60 days after filing pursuant to paragraph (a)(1) | ||||
| on ______________ pursuant to paragraph (a)(1) | ||||
| 75 days after filing pursuant to paragraph (a)(2) | ||||
| on ______________ pursuant to paragraph (a)(2) of Rule 485. |
| this post-effective amendment designates a new effective date for a previously filed post-effective amendment. |
| NEUBERGER BERMAN EQUITY FUNDS | |||
| By: | /s/ Robert Conti | ||
| Name: | Robert Conti | ||
| Title: | President and Chief Executive Officer | ||
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Signature
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Title
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Date
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/s/ Robert Conti
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President, Chief Executive Officer and Trustee
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September 12, 2013
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Robert Conti
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/s/ John M. McGovern
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Treasurer and Principal Financial
and Accounting Officer
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September 12, 2013
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John M. McGovern
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/s/ Joseph V. Amato
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Trustee
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September 12, 2013
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Joseph V. Amato*
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/s/ Faith Colish
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Trustee
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September 12, 2013
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Faith Colish*
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/s/ Martha C. Goss
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Trustee
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September 12, 2013
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Martha C. Goss*
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/s/ Michael M. Knetter
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Trustee
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September 12, 2013
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Michael M. Knetter*
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/s/ Howard A. Mileaf
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Trustee
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September 12, 2013
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Howard A. Mileaf*
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/s/ George W. Morriss
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Trustee
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September 12, 2013
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George W. Morriss*
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/s/ Jack L. Rivkin
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Trustee
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September 12, 2013
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Jack L. Rivkin*
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/s/ Tom D. Seip
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Chairman of the Board and Trustee
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September 12, 2013
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Tom D. Seip*
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/s/ Candace L. Straight
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Trustee
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September 12, 2013
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Candace L. Straight*
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/s/ Peter P. Trapp
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Trustee
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September 12, 2013
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Peter P. Trapp*
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Exhibit
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Description
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EX-101.INS
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XBRL Instance Document
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EX-101.SCH
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XBRL Taxonomy Extension Schema Document
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EX-101.DEF
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XBRL Taxonomy Extension Definition Linkbase
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EX-101.LAB
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XBRL Taxonomy Extension Labels Linkbase
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EX-101.PRE
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XBRL Taxonomy Extension Presentation Linkbase
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| Label | Element | Value | ||||||
|---|---|---|---|---|---|---|---|---|
| Risk/Return: | rr_RiskReturnAbstract | |||||||
| Risk/Return [Heading] | rr_RiskReturnHeading | Neuberger Berman International Equity Fund | ||||||
| Objective [Heading] | rr_ObjectiveHeading | GOAL | ||||||
| Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Fund seeks long-term growth of capital by investing primarily in common stocks of foreign companies. |
||||||
| Expense [Heading] | rr_ExpenseHeading | FEES AND EXPENSES | ||||||
| Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | These tables describe the fees and expenses that you may pay if you buy and hold shares of the Fund. |
||||||
| Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder Fees ( fees paid directly from your investment) | ||||||
| Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (expenses that you pay each year as a % of the value of your investment) | ||||||
| Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | 2016-08-31 | ||||||
| Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||||||
| Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 33% of the average value of its portfolio. |
||||||
| Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 33.00% | ||||||
| Other Expenses, New Fund, Based on Estimates [Text] | rr_OtherExpensesNewFundBasedOnEstimates | "Other expenses" are based on estimated amounts for the current fiscal year; actual expenses may vary. | ||||||
| Expense Example [Heading] | rr_ExpenseExampleHeading | Expense Example | ||||||
| Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | The expense example can help you compare costs among mutual funds. The example assumes that you invested $10,000 for the periods shown, that you redeemed all of your shares at the end of those periods, that the Fund earned a hypothetical 5% total return each year, and that the Fund’s expenses were those in the table. Actual performance and expenses may be higher or lower. |
||||||
| Strategy [Heading] | rr_StrategyHeading | PRINCIPAL INVESTMENT STRATEGIES | ||||||
| Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | To pursue its goal, the Fund invests mainly in foreign companies of any size, including companies in developed and emerging markets. The Fund defines a foreign company as one that is organized outside of the United States and conducts the majority of its business abroad. The Fund seeks to reduce risk by diversifying among many industries. Although the Fund has the flexibility to invest a significant portion of its assets in one country or region, it generally intends to remain well-diversified across countries and geographical regions. In picking stocks, the Portfolio Manager looks for what he believes to be well-managed and profitable companies that show growth potential and whose stock prices are undervalued. Factors in identifying these firms may include strong fundamentals, such as attractive cash flows and balance sheets, as well as prices that are reasonable in light of projected returns. The Portfolio Manager also considers the outlooks for various countries and regions around the world, examining economic, market, social, and political conditions. The Portfolio Manager follows a disciplined selling strategy and may sell a stock when it reaches a target price, if a company’s business fails to perform as expected, or when other opportunities appear more attractive. The Fund may change its goal without shareholder approval, although it does not currently intend to do so. The Fund will not change its strategy of normally investing at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities, without providing shareholders at least 60 days’ notice. This test is applied at the time the Fund invests; later percentage changes caused by a change in Fund assets, market values or company circumstances will not require the Fund to dispose of a holding. |
||||||
| Risk [Heading] | rr_RiskHeading | PRINCIPAL INVESTMENT RISKS | ||||||
| Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | Most of the Fund’s performance depends on what happens in international stock markets. The markets’ behavior is unpredictable, particularly in the short term. There can be no guarantee that the Fund will achieve its goal. The Fund is a mutual fund, not a bank deposit, and is not guaranteed or insured by the Federal Deposit Insurance Corporation or any other government agency. The value of your investment may fall, sometimes sharply, and you could lose money by investing in the Fund. The following factors can significantly affect the Fund’s performance: Market Volatility. Markets are volatile and values of individual securities and other instruments can decline significantly in response to adverse issuer, political, regulatory, market, economic or other developments that may cause broad changes in market value. To the extent that the Fund sells a portfolio position before it reaches its market peak, it may miss out on opportunities for higher performance. Issuer-Specific Risk. The value of an individual security or particular type of security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. Foreign and Emerging Market Risk. Foreign securities involve risks in addition to those associated with comparable U.S. securities. Additional risks include exposure to less developed or less efficient trading markets; social, political or economic instability; fluctuations in foreign currencies; nationalization or expropriation of assets; settlement, custodial or other operational risks; and less stringent auditing and legal standards. As a result, foreign securities can fluctuate more widely in price, and may also be less liquid, than comparable U.S. securities. World markets, or those in a particular region, may all react in similar fashion to important economic or political developments. In addition, foreign markets can perform differently than the U.S. market. Following the market turmoil of 2008-2009, some national economies continue to show profound instability, which may in turn affect their international trading partners. Investing in emerging market countries involves risks in addition to and greater than those generally associated with investing in more developed foreign countries. Securities issued in these countries may be more volatile and less liquid than securities issued in foreign countries with more developed economies or markets. Currency Risk. Currency fluctuations could negatively impact investment gains or add to investment losses. Market Capitalization Risk. To the extent the Fund emphasizes small-, mid-, or large-cap stocks, it takes on the associated risks. Compared to small- and mid-cap companies, large-cap companies may be less responsive to changes and opportunities. At times, the stocks of larger companies may lag other types of stocks in performance. The stocks of small- and mid-cap companies are often more volatile and less liquid than the stocks of larger companies and may be more affected than other types of stocks by the underperformance of a sector or during market downturns. Compared to large-cap companies, small- and mid-cap companies may have a shorter history of operations, and may have limited product lines, markets or financial resources. Value Stock Risk. Value stocks may remain undervalued during a given period or may not ever realize their full value. This may happen, among other reasons, because of a failure to anticipate which stocks or industries would benefit from changing market or economic conditions. Growth Stock Risk. Because the prices of most growth stocks are based on future expectations, these stocks tend to be more sensitive than value stocks to bad economic news and negative earnings surprises. Bad economic news or changing investor perceptions can negatively affect growth stocks across several industries and sectors simultaneously. Sector Risk. To the extent the Fund invests more heavily in particular sectors, its performance will be especially sensitive to developments that significantly affect those sectors. Individual sectors may move up and down more than the broader market. The several industries that constitute a sector may all react in the same way to economic, political or regulatory events. Recent Market Conditions. The financial crisis in the U.S. and many foreign economies over the past several years, including the European sovereign debt and banking crises, has resulted, and may continue to result, in an unusually high degree of volatility in the financial markets, both domestic and foreign, and in the net asset values of many mutual funds, including to some extent the Fund. In addition, global economies and financial markets are becoming increasingly interconnected, which increases the possibilities that conditions in one country or region might adversely impact issuers in a different country or region. The severity or duration of adverse economic conditions may also be affected by policy changes made by governments or quasi-governmental organizations. Because the situation is widespread and largely unprecedented, it may be unusually difficult to identify both risks and opportunities using past models of the interplay of market forces, or to predict the duration of these market conditions. A decline in the Fund’s average net assets during the current fiscal year due to market volatility or other factors could cause the Fund’s expense ratios for the current fiscal year to be higher than the expense information presented in “Fees and Expenses.” |
||||||
| Risk Lose Money [Text] | rr_RiskLoseMoney | The value of your investment may fall, sometimes sharply, and you could lose money by investing in the Fund. | ||||||
| Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | The Fund is a mutual fund, not a bank deposit, and is not guaranteed or insured by the Federal Deposit Insurance Corporation or any other government agency. | ||||||
| Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | PERFORMANCE | ||||||
| Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The bar chart and table below provide an indication of the risks of investing in the Fund. The bar chart shows how the Fund’s performance has varied from year to year. The table next to the bar chart shows what the returns would equal if you averaged out actual performance over various lengths of time and compares the returns with the returns of a broad-based market index. The index, which is described in “Description of Index” in the prospectus, has characteristics relevant to the Fund’s investment strategy. Past performance (before and after taxes) is not a prediction of future results. Visit www.nb.com or call 800-366-6264 for updated performance information. |
||||||
| Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The bar chart and table below provide an indication of the risks of investing in the Fund. | ||||||
| Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | 800-366-6264 | ||||||
| Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | www.nb.com | ||||||
| Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | Past performance (before and after taxes) is not a prediction of future results. | ||||||
| Bar Chart [Heading] | rr_BarChartHeading | YEAR-BY-YEAR % RETURNS AS OF 12/31 EACH YEAR* | ||||||
| Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | Best quarter: Q2 ‘09, 23.76% Worst quarter: Q3 ‘08, -23.47% Year-to-date performance as of 6/30/2013: 1.96% |
||||||
| Bar Chart, Returns for Class Not Offered in Prospectus [Text] | rr_BarChartReturnsForClassNotOfferedInProspectus | The above performance is that of the Fund's Institutional Class. Because Institutional Class has higher expenses than Class R6, its performance typically would have been lower than that of Class R6. | ||||||
| Year to Date Return, Label | rr_YearToDateReturnLabel | Year-to-date performance as of 6/30/2013: | ||||||
| Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Jun. 30, 2013 | ||||||
| Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | 1.96% | ||||||
| Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | Best quarter: | ||||||
| Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Jun. 30, 2009 | ||||||
| Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 23.76% | ||||||
| Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | Worst quarter: | ||||||
| Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Sep. 30, 2008 | ||||||
| Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (23.47%) | ||||||
| Performance Table Heading | rr_PerformanceTableHeading | AVERAGE ANNUAL TOTAL % RETURNS AS OF 12/31/12* | ||||||
| Index No Deduction for Fees, Expenses, Taxes [Text] | rr_IndexNoDeductionForFeesExpensesTaxes | reflects no deduction for fees or expenses | ||||||
| Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. | ||||||
| Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. | ||||||
| Performance Table Explanation after Tax Higher | rr_PerformanceTableExplanationAfterTaxHigher | Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of Fund shares. | ||||||
| Performance Table Closing [Text Block] | rr_PerformanceTableClosingTextBlock | After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of Fund shares. |
||||||
|
MSCI EAFE Index (reflects no deduction for fees or expenses)
|
||||||||
| Risk/Return: | rr_RiskReturnAbstract | |||||||
| 1 Year | rr_AverageAnnualReturnYear01 | 17.90% | [1] | |||||
| 5 Years | rr_AverageAnnualReturnYear05 | (3.21%) | [1] | |||||
| Since Inception | rr_AverageAnnualReturnSinceInception | 4.43% | [1] | |||||
| Inception Date | rr_AverageAnnualReturnInceptionDate | Jun. 17, 2005 | [1] | |||||
|
Class R6
|
||||||||
| Risk/Return: | rr_RiskReturnAbstract | |||||||
| Shareholder Fees ( fees paid directly from your investment) | rr_ShareholderFeeOther | none | ||||||
| Management fees | rr_ManagementFeesOverAssets | 0.92% | ||||||
| Distribution (12b-1) fees | rr_DistributionAndService12b1FeesOverAssets | none | ||||||
| Other expenses | rr_OtherExpensesOverAssets | 0.11% | [2] | |||||
| Total annual operating expenses | rr_ExpensesOverAssets | 1.03% | ||||||
| Fee Waiver or Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.25%) | ||||||
| Total annual operating expenses after fee waiver and/or expense reimbursement | rr_NetExpensesOverAssets | 0.78% | [3] | |||||
| Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | 80 | ||||||
| Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 249 | ||||||
| Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 492 | ||||||
| Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | $ 1,188 | ||||||
| Annual Return 2006 | rr_AnnualReturn2006 | 23.22% | ||||||
| Annual Return 2007 | rr_AnnualReturn2007 | 3.85% | ||||||
| Annual Return 2008 | rr_AnnualReturn2008 | (45.74%) | ||||||
| Annual Return 2009 | rr_AnnualReturn2009 | 36.96% | ||||||
| Annual Return 2010 | rr_AnnualReturn2010 | 18.64% | ||||||
| Annual Return 2011 | rr_AnnualReturn2011 | (11.67%) | ||||||
| Annual Return 2012 | rr_AnnualReturn2012 | 18.77% | ||||||
| 1 Year | rr_AverageAnnualReturnYear01 | 18.77% | [1] | |||||
| 5 Years | rr_AverageAnnualReturnYear05 | (1.55%) | [1] | |||||
| Since Inception | rr_AverageAnnualReturnSinceInception | 4.27% | [1] | |||||
| Inception Date | rr_AverageAnnualReturnInceptionDate | Jun. 17, 2005 | [1] | |||||
|
Class R6 | After Taxes on Distributions
|
||||||||
| Risk/Return: | rr_RiskReturnAbstract | |||||||
| 1 Year | rr_AverageAnnualReturnYear01 | 18.50% | [1] | |||||
| 5 Years | rr_AverageAnnualReturnYear05 | (1.97%) | [1] | |||||
| Since Inception | rr_AverageAnnualReturnSinceInception | 3.29% | [1] | |||||
|
Class R6 | After Taxes on Distributions and Sale of Fund Shares
|
||||||||
| Risk/Return: | rr_RiskReturnAbstract | |||||||
| 1 Year | rr_AverageAnnualReturnYear01 | 12.54% | [1] | |||||
| 5 Years | rr_AverageAnnualReturnYear05 | (1.49%) | [1] | |||||
| Since Inception | rr_AverageAnnualReturnSinceInception | 3.36% | [1] | |||||
|
||||||||
| Label | Element | Value |
|---|---|---|
| Risk/Return: | rr_RiskReturnAbstract | |
| Prospectus Date | rr_ProspectusDate | Aug. 27, 2013 |