Active Asset Allocation with Built-in Fiduciary Monitoring

To help fiduciaries better manage their increasing due diligence demands, we’ve integrated Fi360's fiduciary scoring tool into several of our active asset allocation solutions to offer built-in fiduciary monitoring.

 

Published September 2018

Download the product spotlight to learn more about this innovative strategy

Investment Objective

To provide capital preservation and manage risk for investors who have already reached their target date or who desire minimal capital risk as they move towards a future target date.

Investment Strategy

The portfolio is invested in a conservative mix of securities that seeks preservation of capital, with income and long-term capital growth as secondary objectives. The portfolio is diversified primarily among multiple exchange-traded funds (ETFs) which provide exposure to various stock and fixed income issuers, markets, and sectors. Stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who have reached their target date or are already in retirement and seek to minimize declines in account value with potential for modest capital growth and income generation
  • Who have a future target date and want to assume a minimal amount of capital risk through limited stock exposure
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

ETF Target Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$13.27

Daily $ Change

$0.00

Daily % Change

0.00%

as of 05/23/2019

CUSIP

302027495

Inception Date

12/11/2012

This fund is only available for use within certain qualified employee benefit plans. As of 03/31/2018, the Manning & Napier Fi360 ETF Target CITs were named the MANNING & NAPIER GOAL® CITs. The name change to Manning & Napier Fi360 ETF Target CITs is effective 04/20/2018.

Important Documents

Annual Report
Applications & Forms

Performance

As of 04/30/2019

YTD

6.38%

1 Year

6.81%

3 Year

5.02%

5 Year

4.32%

10 Year

---

Inception
(12/20/2010)

5.20%

Market Cycle

---

Performance through the inception date of the Manning & Napier Fi360 ETF Target Collective Investment Trust (CIT) Class U units is not the past performance of the Target CIT and is based on historical performance data for a target date separate account managed by Manning & Napier Advisors, LLC. Returns are net of the Class U expenses. Performance data reflects acquired fees and expenses incurred by and deducted from the daily net asset value of the underlying third party ETFs. Acquired ETF fees will vary due to the active management of the ETF allocations. The Target CIT will gradually become more conservative over time. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year are annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 1.56%
Net 0.24%*

Includes Trustee Fee of 0.14% and estimated acquired fees and expenses of the underlying third party exchange-traded funds (ETFs) of 0.10% and reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses. Acquired ETF fees will vary due to the active management of the ETF allocations.

Underlying ETFs

As of 04/30/2019

ISHARES BARCLAYS 7-10 YEAR 2.49100 23.59%
VANGUARD MORTGAGE-BACKED SEC 1.49700 22.52%
VANGUARD S&P 500 ETF 17.27%
VANGUARD S/T CORP BOND ETF 2.18900 7.70%
VANGUARD TOTAL BOND MARKET 2.28500 6.79%
ISHARES SHORT TREASURY BOND 2.24700 6.15%
VANGUARD LONG-TERM TREASURY 2.06200 2.70%
VANGUARD FTSE DEVELOPED MARKETS 2.51%
VANGUARD EMERGING MARKET ETF 1.89%
GOLDMAN SACHS ACTIVEBETA INT 1.74%
SPDR MSCI EAFE STRATEGICFACT 1.73%
VANGUARD INTERMEDIATE-TERM C 3.04500 1.54%
ISHARES LEHMAN 1-3YR TRS BD 1.69600 1.33%
VANGUARD SMALL-CAP ETF 1.01%
SCHWAB US DVD EQUITY ETF 0.72%
VANGUARD ETF MIDCAP 0.47%
VANGUARD LONG-TERM CORP BOND 3.87100 0.32%

Underlying exchange-traded funds list is unaudited.

Asset Allocation

As of 04/30/2019

Bonds 71.61%
Stocks 26.96%
Cash 1.43%

Detailed Asset Class Allocation

As of 04/30/2019

International Equities 7.76%
Small Capitalization 0.99%
Mid Capitalization 0.47%
Large Capitalization 17.74%
Long Term Fixed Income 2.98%
Intermediate Term Fixed Income 53.67%
Short Term Fixed Income 14.96%
Cash 1.43%

Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.

April Fund Holdings

As of 04/30/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
381430107 GOLDMAN SACHS ACTIVEBETA INT XX 275 $7,933.75
464287440 ISHARES BARCLAYS 7-10 YEAR 2.49100 US 1,017 $107,700.30
464287457 ISHARES LEHMAN 1-3YR TRS BD 1.69600 US 72 $6,055.92
464288679 ISHARES SHORT TREASURY BOND 2.24700 US 254 $28,082.24
78463X434 SPDR MSCI EAFE STRATEGICFACT XX 125 $7,903.75
808524797 SCHWAB US DVD EQUITY ETF US 61 $3,291.56
921937835 VANGUARD TOTAL BOND MARKET 2.28500 US 383 $31,007.68
921943858 VANGUARD FTSE DEVELOPED MARKETS MUL 273 $11,474.19
922042858 VANGUARD EMERGING MARKET ETF XX 199 $8,638.59
92206C409 VANGUARD S/T CORP BOND ETF 2.18900 US 441 $35,160.93
92206C771 VANGUARD MORTGAGE-BACKED SEC 1.49700 US 1,971 $102,807.36
92206C813 VANGUARD LONG-TERM CORP BOND 3.87100 US 16 $1,461.60
92206C847 VANGUARD LONG-TERM TREASURY 2.06200 US 162 $12,326.58
92206C870 VANGUARD INTERMEDIATE-TERM C 3.04500 US 81 $7,046.19
922908363 VANGUARD S&P 500 ETF US 292 $78,842.92
922908629 VANGUARD ETF MIDCAP US 13 $2,167.36
922908751 VANGUARD SMALL-CAP ETF US 29 $4,590.12
USD US DOLLAR US 6,618.12 $6,618.12

Based on the underlying investments. Investments will change over time.

A Word About Risk

Each Manning & Napier Fi360 ETF Target CIT is invested in approximately 15 - 25 ETFs, based on the Target CIT becoming increasingly conservative over time. Because the underlying ETFs invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk, as the underlying investments change over time. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trusts. Manning & Napier is headquartered in Rochester, NY and has more than 45 years of experience managing life cycle investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns. <p></p> <p class="footnote">Manning & Napier uses proprietary screening in its ETF selection process, which now incorporates the fi360 Fiduciary Score® as one component. The fi360 Fiduciary Score is a peer percentile ranking of an investment against a set of quantitative due diligence criteria selected to reflect prudent fiduciary management. The fi360 Fiduciary Score should not be used as the sole source of information in an investment decision.</p>

Active Asset Allocation with Built-in Fiduciary Monitoring

To help fiduciaries better manage their increasing due diligence demands, we’ve integrated Fi360's fiduciary scoring tool into several of our active asset allocation solutions to offer built-in fiduciary monitoring.

 

Published September 2018

Download the product spotlight to learn more about this innovative strategy

Daily Price

$13.27

Daily $ Change

$0.00

Daily % Change

0.00%

as of 05/23/2019

CUSIP

302027495

Inception Date

12/11/2012

This fund is only available for use within certain qualified employee benefit plans. As of 03/31/2018, the Manning & Napier Fi360 ETF Target CITs were named the MANNING & NAPIER GOAL® CITs. The name change to Manning & Napier Fi360 ETF Target CITs is effective 04/20/2018.

Important Documents

Annual Report
Fact Sheet
Applications & Forms

Investment Objective

To provide capital preservation and manage risk for investors who have already reached their target date or who desire minimal capital risk as they move towards a future target date.

Investment Strategy

The portfolio is invested in a conservative mix of securities that seeks preservation of capital, with income and long-term capital growth as secondary objectives. The portfolio is diversified primarily among multiple exchange-traded funds (ETFs) which provide exposure to various stock and fixed income issuers, markets, and sectors. Stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who have reached their target date or are already in retirement and seek to minimize declines in account value with potential for modest capital growth and income generation
  • Who have a future target date and want to assume a minimal amount of capital risk through limited stock exposure
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

ETF Target Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 04/30/2019

YTD

6.38%

1 Year

6.81%

3 Year

5.02%

5 Year

4.32%

10 Year

---

Inception
(12/20/2010)

5.20%

Market Cycle

---

Performance through the inception date of the Manning & Napier Fi360 ETF Target Collective Investment Trust (CIT) Class U units is not the past performance of the Target CIT and is based on historical performance data for a target date separate account managed by Manning & Napier Advisors, LLC. Returns are net of the Class U expenses. Performance data reflects acquired fees and expenses incurred by and deducted from the daily net asset value of the underlying third party ETFs. Acquired ETF fees will vary due to the active management of the ETF allocations. The Target CIT will gradually become more conservative over time. Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year are annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 1.56%
Net 0.24%*

Includes Trustee Fee of 0.14% and estimated acquired fees and expenses of the underlying third party exchange-traded funds (ETFs) of 0.10% and reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses. Acquired ETF fees will vary due to the active management of the ETF allocations.

Underlying ETFs

As of 04/30/2019

ISHARES BARCLAYS 7-10 YEAR 2.49100 23.59%
VANGUARD MORTGAGE-BACKED SEC 1.49700 22.52%
VANGUARD S&P 500 ETF 17.27%
VANGUARD S/T CORP BOND ETF 2.18900 7.70%
VANGUARD TOTAL BOND MARKET 2.28500 6.79%
ISHARES SHORT TREASURY BOND 2.24700 6.15%
VANGUARD LONG-TERM TREASURY 2.06200 2.70%
VANGUARD FTSE DEVELOPED MARKETS 2.51%
VANGUARD EMERGING MARKET ETF 1.89%
GOLDMAN SACHS ACTIVEBETA INT 1.74%
SPDR MSCI EAFE STRATEGICFACT 1.73%
VANGUARD INTERMEDIATE-TERM C 3.04500 1.54%
ISHARES LEHMAN 1-3YR TRS BD 1.69600 1.33%
VANGUARD SMALL-CAP ETF 1.01%
SCHWAB US DVD EQUITY ETF 0.72%
VANGUARD ETF MIDCAP 0.47%
VANGUARD LONG-TERM CORP BOND 3.87100 0.32%

Underlying exchange-traded funds list is unaudited.

Asset Allocation

As of 04/30/2019

Bonds
71.61%
Stocks
26.96%
Cash
1.43%

Detailed Asset Class Allocation

As of 04/30/2019

International Equities
7.76%
Small Capitalization
0.99%
Mid Capitalization
0.47%
Large Capitalization
17.74%
Long Term Fixed Income
2.98%
Intermediate Term Fixed Income
53.67%
Short Term Fixed Income
14.96%
Cash
1.43%

Due to rounding, the sum of the detailed asset class allocation categories may not equal the asset allocation totals provided above.

April Fund Holdings

As of 04/30/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
381430107 GOLDMAN SACHS ACTIVEBETA INT XX 275 $7,933.75
464287440 ISHARES BARCLAYS 7-10 YEAR 2.49100 US 1,017 $107,700.30
464287457 ISHARES LEHMAN 1-3YR TRS BD 1.69600 US 72 $6,055.92
464288679 ISHARES SHORT TREASURY BOND 2.24700 US 254 $28,082.24
78463X434 SPDR MSCI EAFE STRATEGICFACT XX 125 $7,903.75
808524797 SCHWAB US DVD EQUITY ETF US 61 $3,291.56
921937835 VANGUARD TOTAL BOND MARKET 2.28500 US 383 $31,007.68
921943858 VANGUARD FTSE DEVELOPED MARKETS MUL 273 $11,474.19
922042858 VANGUARD EMERGING MARKET ETF XX 199 $8,638.59
92206C409 VANGUARD S/T CORP BOND ETF 2.18900 US 441 $35,160.93
92206C771 VANGUARD MORTGAGE-BACKED SEC 1.49700 US 1,971 $102,807.36
92206C813 VANGUARD LONG-TERM CORP BOND 3.87100 US 16 $1,461.60
92206C847 VANGUARD LONG-TERM TREASURY 2.06200 US 162 $12,326.58
92206C870 VANGUARD INTERMEDIATE-TERM C 3.04500 US 81 $7,046.19
922908363 VANGUARD S&P 500 ETF US 292 $78,842.92
922908629 VANGUARD ETF MIDCAP US 13 $2,167.36
922908751 VANGUARD SMALL-CAP ETF US 29 $4,590.12
USD US DOLLAR US 6,618.12 $6,618.12

Based on the underlying investments. Investments will change over time.

A Word About Risk

Each Manning & Napier Fi360 ETF Target CIT is invested in approximately 15 - 25 ETFs, based on the Target CIT becoming increasingly conservative over time. Because the underlying ETFs invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk, as the underlying investments change over time. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).

About The Fund Manager

Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company, Trustee of the Manning & Napier Collective Investment Trusts. Manning & Napier is headquartered in Rochester, NY and has more than 45 years of experience managing life cycle investment objectives. The Firm’s active management approach focuses on participating in rising markets and, as important, helping to reduce the risk of large losses in sustained bear market periods. A team of investment analysts and professionals make all investment decisions in an effort to provide investors with strong risk-adjusted returns. <p></p> <p class="footnote">Manning & Napier uses proprietary screening in its ETF selection process, which now incorporates the fi360 Fiduciary Score® as one component. The fi360 Fiduciary Score is a peer percentile ranking of an investment against a set of quantitative due diligence criteria selected to reflect prudent fiduciary management. The fi360 Fiduciary Score should not be used as the sole source of information in an investment decision.</p>


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