Itx.MN.SMAFundTitle

Global Equity   

Itx.MN.SMAFundDetail

Investment Objective

To maximize returns over the long term through consistent participation in both U.S. and non-U.S. equities and other equity instruments.

The investment minimum for Global Equity is $1 million.

Investment Team

The portfolio is managed by a team of research professionals who average years with the firm. Known as the Global Core Team, these portfolio managers are responsible for scoring bottom-up stock recommendations based on strategy fit and valuation measures as well as incorporating the firm’s market and economic overviews into oversight of total portfolio positioning.

Investment Process

For more than 40 years, the same proprietary bottom-up driven investment process has been used to build diversified portfolios of individual securities. Manning & Napier’s equity analysts first search the global investment universe using both bottom-up (company-specific) and top-down (macro) research to reduce the initial universe to a workable list of potential portfolio candidates. Next, companies are screened using bottom-up analysis to generate a formal list of portfolio candidates based on three selection strategies - Strategic Profile, Hurdle Rate, and Bankable Deal. If a company is a strategy fit, strict pricing disciplines are used to establish buy and sell targets based on fair market value. After that, the security is submitted to a peer review process where a minimum of two analysts have a financial stake in each stock that is recommended for the portfolio. Once the two analysts decide to formally recommend the security, it is presented to the Global Core Team, which determines whether to accept the security recommendation, put it on the “firedrill” list, or reject it. The portfolio is continuously monitored for events that may require portfolio adjustments.


Composition

Equity Range

90% - 100% Equities

At least 90% of the portfolio is invested in equities, with a general range of 30% to 70% in equities of companies domiciled outside of the U.S., including developed and emerging markets.


Annualized Performance 1
(as of 06/30/2016)

One Year (07/01/2015 - 06/30/2016) -0.57%
Five Year (07/01/2011 - 06/30/2016) 5.31%
Ten Year (07/01/2006 - 06/30/2016) 4.96%
Inception (05/01/2006 - 06/30/2016) 4.51%


1

The Manning & Napier Global Equity Composite is a weighted average of discretionary separately managed and collective investment trust fund accounts with a Global Equity objective. Accounts in this composite must have a market value greater than $1 million and tenure of at least one month under our management. The investment objective of accounts in this composite is primarily long-term capital growth through selected U.S. and non-U.S. equity securities. Non-U.S. equity exposure for accounts in this composite typically ranges from 30% to 70% with situational adjustments within this range at our discretion. Net-of-fee returns are calculated based off of the effective fees of the accounts in the composite. They are after brokerage commissions, reinvested income, and advisory fees, but if applicable, before custodian costs and the fees of the investor’s Personal Financial Advisor. Also, accounts subject to solicitation fees may incur as much as 0.15% in additional expenses. Fees will vary with size and circumstances and these fee differentials would impact returns accordingly. Past performance does not guarantee future results. This composite includes separately managed accounts that may have a portion of their assets invested in proprietary asset class mutual funds and collective investment trust funds, which may be declined or may not be permitted through the selection of some custodial programs. Portfolios in this composite may use forward currency contracts to attempt to hedge against the effects of currency rate fluctuations. Such contracts never exceed 50% of the portfolio and are only used when there is a high probability of a significant adverse movement of a currency. All data are subject to revision.

Related Documents

Related Documents

There are currently no documents available.

Speak with a rep

Speak With A Service Representative

1-800-551-0224

 info@manning-napier.com

Our customer service representatives can be reached Monday through Friday between 8:00AM and 5:00PM ET.