Manning & Napier Launches Actively Managed, ETF-Based Target Date Solutions


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Published on June 27, 2012

FAIRPORT, NY, June 26, 2012 – Manning & Napier, (NYSE: MN), (Manning & Napier or the Company) recently announced the launch of the Manning & Napier GOALSM Collective Investment Trust (CIT) Funds, a suite of ten actively managed target date funds which will invest in a variety of exchange-traded funds (ETFs). The Manning & Napier GOALSM CIT Funds provide an opportunity for active management at a lower cost structure while maintaining diversification of asset classes, market sectors, and securities through ETFs.

The Manning & Napier GOALSM CIT Funds range from an Income fund to a 2055 fund and will be built using the same active asset allocation approach the Company has implemented for more than 40 years. The active approach allows for flexibility to shift portfolio assets away from over-valued sectors and towards areas of lower risk. Utilizing a team-based investment strategy, the GOALSM CIT Funds will be overseen by the Company’s Senior Research Group.

“Manning & Napier Advisors, LLC was offering active life cycle solutions long before the market recognized the value of such products,” said Patrick Cunningham, Chief Executive Officer. “The GOALSM CIT Funds are consistent with our philosophies in target date product innovation by providing a common sense, active approach to investing in ETFs while focusing on participant outcomes. We consider these to be a logical extension of our current offerings that utilize a flexible glide range, which enables both age-based and environment-based adjustments over time.”

The Manning & Napier GOALSM CIT Funds will be offered with an expense ratio of 0.34%, excluding ETFs fees. The GOALSM Funds will initially be offered with a single, no revenue share unit class (U Class) to meet the needs of plan sponsors who desire the highest degree of fee transparency.

“The ETF market has matured to a point where we can actively manage the funds, and this maturity is now allowing us to price the offering at a level more in line with passively managed products,” said Cunningham.

For more information on Manning & Napier and its flexible glide range,

About Manning & Napier

Manning & Napier (NYSE: MN) provides a broad range of investment solutions through separately managed accounts, mutual funds, and collective investment trust funds, as well as a variety of consultative services that complement our investment process. Founded in 1970, we offer equity and fixed income portfolios as well as a range of blended asset portfolios, such as life cycle funds, that use a mix of stocks and bonds. We serve a diversified client base of high-net-worth individuals and institutions, including 401(k) 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 and had 489 employees as of March 31, 2012.

Manning & Napier, Inc. is publically traded under MN. Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company (ETC), Trustee of the Manning & Napier Collective Investment Trust funds. The Collectives are available only for use within certain qualified employee benefit plans. Manning & Napier, Inc., Manning & Napier, and ETC are affiliates.

Safe Harbor Statement

This press release and other statements that the Company may make may contain forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the Company’s current views with respect to, among other things, its operations and financial performance. Words like “believes,” “expects,” “may,” “estimates,” “will,” “should,” “intends,” “plans,” or “anticipates” or the negative thereof or other variations thereon or comparable terminology, are used to identify forward-looking statements, although not all forward-looking statements contain these words. Although the Company believes that it is basing its expectations and beliefs on reasonable assumptions within the bounds of what it currently knows about its business and operations, there can be no assurance that its actual results will not differ materially from what the Company expects or believes. Some of the factors that could cause the Company’s actual results to differ from its expectations or beliefs include, without limitation: changes in securities or financial markets or general economic conditions; a decline in the performance of the Company’s products; client sales and redemption activity; changes of government policy or regulations; and other risks discussed from time to time in the Company’s filings with the Securities and Exchange Commission.


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