Neuberger snags former Ivy CIO for sustainability role

Co-portfolio managers on the $1.8bn Sustainable Equity Fund, Ingrid Dyott and Sajjad Ladiwala, are retiring

Neuberger Berman is filling a role to lead its US sustainable equity team amid two upcoming retirements, the firm announced last week.

The company is losing Ingrid Dyott and Sajjad Ladiwala, its long-tenured co-portfolio managers of the $1.8bn Neuberger Berman Sustainable Equity Fund. Dyott, who has been with the firm since 1997, is retiring at the end of 2022. Ladiwala, who has worked at Neuberger since 2002, is retiring on June 30, the company stated.

The co-portfolio managers are staying on during former Ivy Investments CIO Daniel Hanson’s transition into his role as head of US sustainable equity, it added. Hanson assumes that job April 1 and will be the senior portfolio manager for the fund.

Prior to his two and a half years at Waddell & Reed’s Ivy, Hanson worked at BlackRock for between 2003 and 2013, managing that firm’s Socially Responsible Equity strategy, according to the announcement. Hanson was also previously head of impact investing at JANA Partners and is a founding board member of the Sustainable Accounting Standards Board.

Neuberger’s Sustainable Equity Fund has returned -4.72% year-to-date as of February 1, compared with -5.06% for Morningstar’s US Large-Mid Total Return index, according to data from the ratings firm. But it has lagged the index over one-, three-, five- and 10-year periods, Morningstar reported, awarding the fund three out of five stars.

The company’s seven-member US sustainable equity team managed about $5.5bn as of the end of 2021, according to the firm.

After her retirement from the company, Dyott will join its ESG advisory council, Neuberger stated.