Neuberger Berman Carbon Transition & Infrastructure ETF (NBCT) is an actively managed exchange-traded fund that seeks total return through growth and income by investing at least 80% of its net assets in equity securities of carbon transition companies and infrastructure companies of any market capitalization from developed and emerging markets worldwide; the fund employs a fundamental, bottom-up approach with a concentrated portfolio of 20-30 holdings emphasizing midstream infrastructure, utilities, renewables, and companies with stable cash flows and distribution growth potential. NBCT targets the energy transition theme, including providers of infrastructure foundational to carbon reduction efforts such as power generation, transmission, storage, and distribution assets. The ETF is issued by Neuberger Berman ETF Trust and managed by Neuberger Berman Investment Advisers LLC, a division of Neuberger Berman Group LLC, a private, independent, employee-owned investment manager founded in 1939 and headquartered in New York.
In a major strategic shift, the fund's current management team commenced oversight on November 1, 2024, adopting a refined energy transition and infrastructure strategy, distinct fee structure (net expense ratio of 0.65%), investment objective, portfolio managers, and principal risks, replacing the prior carbon transition focus and benchmark (MSCI AC World Index Net); this change also introduced a new ticker symbol NBET and full name Neuberger Berman Energy Transition & Infrastructure ETF, with the rebranding effective on or about February 28, 2026 as part of Neuberger Berman's broader fund naming simplification initiative announced December 3, 2025. As of late 2025, NBCT (now transitioning to NBET) maintains approximately $12.9 million in assets under management, with global equity exposure across sectors like energy infrastructure and utilities serving institutional investors, advisors, and high-net-worth individuals. The fund operates with daily liquidity on NYSE Arca, offering intra-day trading and potential tax efficiency characteristic of ETF structures.