Manning & Napier Adds to Collective Investment Trust Lineup
FAIRPORT, NY, June 28, 2017 -- Manning & Napier, Inc. (NYSE: MN), "Manning & Napier" or "the Company," today announced the creation of the Disciplined Value Collective Investment Trust Fund (CIT). This adds to the more than 25 CITs the firm manages, including risk-based, target date, asset class, and Cash Balance CITs. The newly launched Disciplined Value CIT is offered as a U-class, zero revenue share product with a trustee fee of 0.25%.
"According to a recent Manning & Napier survey, 83% of employers are concerned about the current increase in litigation pertaining to investment selection and fee reasonableness," said Shelby George, Defined Contribution Practice Leader at Manning & Napier. "CITs are an increasingly important part of the fiduciary due diligence process. While it has always been important for fiduciaries to consider CITs because of the many benefits they provide to participants, today's 401k fee litigation is making it essential for fiduciaries to give CITs a hard look."
First established in 2003, Manning & Napier's Disciplined Value strategies are a suite of value-oriented, systematic equity portfolios. These strategies aim to provide competitive returns consistent with the broad equity market while also providing a level of capital protection during market downturns. Securities are selected from a universe of mid-to-large capitalization companies based on factors such as free cash flow yield, dividend yield, dividend sustainability, and financial health.
"We continue to develop solutions to meet participant needs," said George. "Today's slow growth outlook and volatility coupled with low interest rates create a challenging environment, particularly for participants nearing retirement. The Disciplined Value CIT is designed to help these participants generate strong absolute returns with lower volatility while providing consistent downside risk management."
In addition to the newly created CIT, the Disciplined Value strategy is available as a separately managed account with a minimum investment of $250,000 as well as a mutual fund.
About Manning & Napier
Manning & Napier (NYSE: MN) provides a broad range of investment solutions as well as a variety of consultative services that complement our investment process. Founded in 1970, we offer U.S. and non-U.S. equity, fixed income, and a range of blended asset portfolios, including life cycle funds and actively- managed exchange-traded fund ("ETF") portfolios. We serve a diversified client base of high-net-worth individuals and institutions, including 401k plans, pension plans, Taft-Hartley plans, endowments and foundations. For many of these clients, our relationship goes beyond investment management and includes customized solutions that address key issues and solve client-specific problems. We are headquartered in Fairport, NY.
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