Itx.MN.Funds.SelectClass

International Series   

Itx.MN.Funds.SelectFund

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Investment Objective

The International Series seeks to provide long-term growth by investing principally in the common stocks of companies located outside the U.S.

Investment Strategy

The Series invests primarily in common stocks of foreign companies, including developed and emerging markets. In managing the Series, a “top-down” approach is implemented to examine economic trends and industry-specific factors to identify investment opportunities such as those being created by economic and political changes taking place around the world.

May be Appropriate for Investors:

  • Seeking a long-term (15 years or more) investment and who are willing to accept the risk of investing in foreign equity securities
  • Seeking to diversify a portfolio by adding a foreign equity component

A Word About Risk

All investments involve risks, including possible loss of principal. Funds whose investments are concentrated in foreign countries may be subject to fluctuating currency values, different accounting standards, and economic and political instability. The value of the Series may be affected by changes in exchange rates between foreign currencies and the U.S. dollar. Investments in emerging markets may be more volatile than investments in more developed markets.

Availability

Available in all 50 states.


Fund Facts

Ticker EXITX
CUSIP 563821529
Inception Date 08/27/1992
Account Minimum $2,000*
Expense Ratio Before Fee Waiver 1.19%
Expense Ratio After Fee Waiver 1.12%

*May be waived for qualified retirement plans and investors who establish an automatic investment plan.

Includes a shareholder servicing fee of 0.25%. Reflects the Advisor’s contractual and/or voluntary agreements to limit its fees and reimburse certain expenses. The voluntary waiver(s) may be changed or discontinued at any time. The contractual waiver(s) may not be amended or terminated prior to the expiration date (04/30/2014) without the approval of the Series’ Board of Directors.

Annualized Performance 1
(as of 03/31/2014)

Year-to-Date (01/01/2014 - 03/31/2014) -1.92%
One Year (04/01/2013 - 03/31/2014) 13.61%
Three Year (04/01/2011 - 03/31/2014) 4.46%
Five Year (04/01/2009 - 03/31/2014) 14.77%
Ten Year (04/01/2004 - 03/31/2014) 8.08%
International Market Cycle (04/01/2003 - 03/31/2014) 11.85%

Top Ten Investments 2
(as of 03/31/2014)

SIEMENS AG 4.42%
HITACHI LTD FIRST SECTION 3.12%
SAP AG 2.68%
LINDE AG 2.55%
UNILEVER PLC-SPONSORED ADR 2.48%
SAMSUNG ELECTRONICS CO LTD 2.14%
ASTRAZENECA 2.05%
TREASURY WINE ESTATES LTD 1.98%
ALCATEL-LUCENT SPONSORED ADR 1.97%
BAYER AG 1.87%

1

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.

2

Top Ten Investments list is unaudited and excludes cash.


View data:

Annualized Performance 1
(as of 03/31/2014)

Year-to-Date (01/01/2014 - 03/31/2014) -1.92%
One Year (04/01/2013 - 03/31/2014) 13.61%
Three Year (04/01/2011 - 03/31/2014) 4.46%
Five Year (04/01/2009 - 03/31/2014) 14.77%
Ten Year (04/01/2004 - 03/31/2014) 8.08%
International Market Cycle (04/01/2003 - 03/31/2014) 11.85%

Daily Price (NAV)
(as of 04/22/2014)

Price / Share $9.90
Change ($) Up 0.07
Change (%) Up 0.71

Expense Ratio

Before Fee Waiver 1.19%
After Fee Waiver 1.12%

Includes a shareholder servicing fee of 0.25%. Reflects the Advisor’s contractual and/or voluntary agreements to limit its fees and reimburse certain expenses. The voluntary waiver(s) may be changed or discontinued at any time. The contractual waiver(s) may not be amended or terminated prior to the expiration date (04/30/2014) without the approval of the Series’ Board of Directors.

1

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.


View data:

Top Ten Investments 1
(as of 03/31/2014)

SIEMENS AG 4.42%
HITACHI LTD FIRST SECTION 3.12%
SAP AG 2.68%
LINDE AG 2.55%
UNILEVER PLC-SPONSORED ADR 2.48%
SAMSUNG ELECTRONICS CO LTD 2.14%
ASTRAZENECA 2.05%
TREASURY WINE ESTATES LTD 1.98%
ALCATEL-LUCENT SPONSORED ADR 1.97%
BAYER AG 1.87%

Fund Holdings

March Holdings 03/31/2014
February Holdings 02/28/2014
January Holdings 01/31/2014
December Holdings 12/31/2013

Country Allocation
(as of 03/31/2014)

Germany 19.91%
Japan 11.99%
United Kingdom 11.34%
France 8.73%
Brazil 5.66%
Switzerland 5.18%
South Korea 3.90%
Spain 3.72%
India 3.23%
Norway 3.17%
China 2.41%
Ireland 2.34%
Hong Kong 2.23%
Australia 1.98%
Mexico 1.94%
Sweden 1.62%
Netherlands 1.42%
Malaysia 1.12%
Denmark 1.10%
Italy 1.07%
Austria 1.05%
Chile 1.04%
Israel 1.02%
Portugal 1.02%
Taiwan 0.91%
Thailand 0.46%
Indonesia 0.44%

Sector Allocation 2
(as of 03/31/2014)

Consumer Discretionary 13.86%
Consumer Staples 22.25%
Energy 3.87%
Financials 9.58%
Health Care 11.97%
Industrials 16.48%
Information Technology 15.03%
Materials 3.72%
Telecommunication Services 3.24%

1

Top Ten Investments list is unaudited and excludes cash.

2

The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (S&P) and is licensed for use by Manning & Napier when referencing GICS sectors. Nether MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification nor shall any such party have any liability therefrom.

Investments will change over time.