Collective Investment Trusts
Disciplined Value CIT
Investment Objective
To provide competitive returns consistent with the broad equity market while also providing a level of capital protection during market downturns.
Investment Strategy
This fund is designed to offer a diversified portfolio of dividend-paying U.S. equity securities. Using a systematic process with a focus on mid- to large-capitalization U.S. companies, securities are selected based on factors such as free cash flow generation and earnings power, minimum dividend yield, dividend sustainability, and financial health.
May be Appropriate for Investors
- Seeking to add diversification to their retirement portfolio by investing in high-quality, dividend-yielding securities
- Seeking exposure to U.S. companies with meaningful growth potential due to high free cash flow yields and earnings power
Daily Price
$19.42
Daily $ Change
$0.16
Daily % Change
0.82%
as of 07/25/2024
Ticker
MNDVUX
CUSIP
302028774
Inception Date
06/06/2017
This fund is only available for use within certain qualified employee benefit plans.
Important Documents
| Applications & Forms | |
| Fact Sheet | |
| Annual Report |
YTD
5.99%
1 Year
12.19%
3 Year
5.18%
5 Year
8.59%
10 Year
9.45%
Inception
(10/01/2011)
12.07%
Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.
Performance through the inception date of the Disciplined Value CIT Class U units is not the past performance of the Disciplined Value CIT Fund and is based on historical performance data for the Manning & Napier Disciplined Value – U.S. Composite, which is a weighted average of discretionary separately managed accounts, and may include proprietary mutual fund accounts, that are managed by Manning & Napier Advisors, LLC with a Disciplined Value – U.S. objective. Returns are net of the Class U expenses.
Expense Ratio
| Gross | 0.26% |
| Net | 0.25%* |
*Reflects the Trustee's contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.
| BANK OF AMERICA CORPORATION | 3.90% |
| J P MORGAN CHASE AND CO | 3.89% |
| UNITEDHEALTH GROUP INC | 3.83% |
| JOHNSON AND JOHNSON | 3.71% |
| CHEVRONTEXACO CORP | 3.54% |
| EXXON MOBIL CORP | 3.50% |
| CATERPILLAR INC DEL | 3.02% |
| WELLS FARGO AND CO NEW | 2.94% |
| CISCO SYS INC | 2.73% |
| HONEYWELL INTL INC | 2.46% |
This investment list is unaudited and excludes cash.
| Financials | 22.18% | |
| Industrials | 18.79% | |
| Energy | 18.28% | |
| Health Care | 15.40% | |
| Information Technology | 8.62% | |
| Consumer Staples | 8.14% | |
| Consumer Discretionary | 4.50% | |
| Materials | 2.54% | |
| Communication Services | 1.54% |
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.
| Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|
| 3M CO | US | 11,757 | $1,201,447.83 | |
| ALLEGION PUB LTD CO | US | 3,141 | $371,109.15 | |
| ANALOG DEVICES INC | US | 9,870 | $2,252,926.20 | |
| ARCHER DANIELS MIDLAND CO | US | 13,579 | $820,850.55 | |
| BANK OF AMERICA CORPORATION | US | 96,922 | $3,854,587.94 | |
| BECTON DICKINSON AND CO | US | 5,436 | $1,270,447.56 | |
| BERKLEY W R CORP | US | 7,491 | $588,642.78 | |
| BEST BUY INC | US | 5,864 | $494,276.56 | |
| BRISTOL MYERS SQUIBB CO | US | 36,898 | $1,532,373.94 | |
| BUNGE GLOBAL SA COM SHS | US | 4,721 | $504,061.17 | |
| CAMPBELL SOUP CO | US | 10,457 | $472,551.83 | |
| CATERPILLAR INC DEL | US | 8,960 | $2,984,576.00 | |
| CF INDS HLDGS INC | US | 6,354 | $470,958.48 | |
| CHESAPEAKE ENERGY CORP | US | 4,720 | $387,936.80 | |
| CHEVRONTEXACO CORP | US | 22,360 | $3,497,551.20 | |
| CINCINNATI FINL CORP | US | 4,825 | $569,832.50 | |
| CISCO SYS INC | US | 56,765 | $2,696,905.15 | |
| CITIGROUP INC | US | 35,434 | $2,248,641.64 | |
| COGNIZANT TECHNOLOGY SOLUTIO | US | 12,580 | $855,440.00 | |
| CONAGRA FOODS INC | US | 16,404 | $466,201.68 | |
| CONOCOPHILLIPS | US | 18,916 | $2,163,612.08 | |
| COTERRA ENERGY INC COM | US | 23,034 | $614,316.78 | |
| CUMMINS INC | US | 3,807 | $1,054,272.51 | |
| DEERE AND CO | US | 4,781 | $1,786,325.03 | |
| DICKS SPORTING GOODS INC | US | 2,654 | $570,211.90 | |
| EAST WEST BANCORP INC | US | 5,121 | $375,010.83 | |
| EBAY INC | US | 14,099 | $757,398.28 | |
| EVEREST GROUP LTD COM | US | 1,444 | $550,192.88 | |
| EXXON MOBIL CORP | US | 30,057 | $3,460,161.84 | |
| FEDEX CORP | US | 4,948 | $1,483,608.32 | |
| FIFTH THIRD BANCORP | US | 19,612 | $715,641.88 | |
| FOX CORP | US | 15,385 | $528,782.45 | |
| GENERAL MLS INC | US | 13,729 | $868,496.54 | |
| GENUINE PARTS CO | US | 4,256 | $588,689.92 | |
| GILEAD SCIENCES INC | US | 24,108 | $1,654,049.88 | |
| HALLIBURTON CO | US | 24,252 | $819,232.56 | |
| HARTFORD FINL SVCS GROUP INC | US | 8,003 | $804,621.62 | |
| HERSHEY FOODS CORP | US | 4,782 | $879,075.06 | |
| HF SINCLAIR CORPORATION COM | US | 7,151 | $381,434.34 | |
| HONEYWELL INTL INC | US | 11,371 | $2,428,163.34 | |
| HUNTINGTON BANCSHARES INC | US | 45,615 | $601,205.70 | |
| HUNTINGTON INGALLS INDS INC | US | 1,397 | $344,123.01 | |
| INTERPUBLIC GROUP COS INC | US | 13,417 | $390,300.53 | |
| INTL PAPER CO | US | 11,443 | $493,765.45 | |
| J P MORGAN CHASE AND CO | US | 18,998 | $3,842,535.48 | |
| JOHNSON AND JOHNSON | US | 25,064 | $3,663,354.24 | |
| KENVUE INC COM | US | 45,189 | $821,536.02 | |
| KIMBERLY CLARK CORP | US | 7,437 | $1,027,793.40 | |
| KRAFT HEINZ CO | US | 27,749 | $894,072.78 | |
| LKQ CORP | US | 8,882 | $369,402.38 | |
| LOCKHEED MARTIN CORP | US | 4,086 | $1,908,570.60 | |
| MARATHON OIL CORP | US | 20,409 | $585,126.03 | |
| MARATHON PETROLEUM CORP | US | 8,540 | $1,481,519.20 | |
| MASCO CORP | US | 6,923 | $461,556.41 | |
| MEDTRONIC PLC SHS | US | 23,264 | $1,831,109.44 | |
| MICROCHIP TECHNOLOGY INC | US | 11,915 | $1,090,222.50 | |
| MOLSON COORS BREWING CO | US | 7,672 | $389,967.76 | |
| MOSAIC CO NEW COM | US | 12,757 | $368,677.30 | |
| OMNICOM GROUP INC | US | 6,669 | $598,209.30 | |
| OVINTIV INC COM | US | 9,502 | $445,358.74 | |
| PACCAR INC | US | 10,412 | $1,071,811.28 | |
| PENSKE AUTOMOTIVE GRP INC | US | 2,485 | $370,314.70 | |
| PERMIAN RESOURCES CORP CLASS A COM | US | 27,371 | $442,041.65 | |
| PHILLIPS 66 | US | 8,953 | $1,263,895.01 | |
| PNC FINL SVCS GROUP INC | US | 8,172 | $1,270,582.56 | |
| PPG INDS INC | US | 6,039 | $760,249.71 | |
| QUEST DIAGNOSTICS INC | US | 3,805 | $520,828.40 | |
| RALPH LAUREN CORP | US | 2,408 | $421,544.48 | |
| ROYALTY PHARMA PLC SHS CL A | US | 19,760 | $521,071.20 | |
| RTX CORPORATION COM | US | 20,795 | $2,087,610.05 | |
| SCHLUMBERGER LTD | US | 29,029 | $1,369,588.22 | |
| SKYWORKS SOLUTIONS INC | US | 5,234 | $557,839.72 | |
| SMITH A O | US | 4,974 | $406,773.72 | |
| SNAP ON INC | US | 1,745 | $456,125.55 | |
| SSNC TECHNOLOGIES HLDGS INC | US | 8,149 | $510,697.83 | |
| SYSCO CORP | US | 12,590 | $898,800.10 | |
| TAPESTRY INC COM | US | 8,421 | $360,334.59 | |
| TE CONNECTIVITY LTD | US | 7,070 | $1,063,540.10 | |
| TRAVELERS COMPANIES INC | US | 5,632 | $1,145,210.88 | |
| TRUIST FINL CORP COM | US | 30,222 | $1,174,124.70 | |
| UNITEDHEALTH GROUP INC | US | 7,435 | $3,786,348.10 | |
| US BANCORP DEL COM | US | 31,765 | $1,261,070.50 | |
| US DOLLARS | US | 1,076,615.9 | $1,076,615.90 | |
| VALERO ENERGY CORP NEW | US | 7,305 | $1,145,131.80 | |
| VIATRIS INC | US | 40,785 | $433,544.55 | |
| WELLS FARGO AND CO NEW | US | 48,852 | $2,901,320.28 | |
| WESTROCK CO | US | 8,164 | $410,322.64 | |
| WILLIAMS SONOMA INC | US | 1,817 | $513,066.29 |
Investments will change over time.
A Word About Risk
All investments involve risks, including possible loss of principal. As with any stock fund, the value of your investment will fluctuate in response to stock market movements. Investing in the Fund will also involve a number of other risks, including issuer-specific risk and mid-cap risk. The Fund invests primarily in dividend-paying equity securities, with a focus on mid- to large- cap companies. There is no assurance or guarantee that such companies will declare, continue to pay, or increase dividends. Stocks of mid-cap companies tend to be more volatile than those of large-cap companies, as midcap companies tend to be more susceptible to adverse business or economic events than larger, more established companies. In addition, because the Advisor manages the Fund using a disciplined screening process, the Fund is subject to the additional risk that the investment approach may not be successful. Further, the Advisor does not intend to make frequent changes to the Fund’s portfolio in response to market movements.
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 Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing 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.
Daily Price
$19.42
Daily $ Change
$0.16
Daily % Change
0.82%
as of 07/25/2024
Ticker
MNDVUX
CUSIP
302028774
Inception Date
06/06/2017
This fund is only available for use within certain qualified employee benefit plans.
Important Documents
| Applications & Forms | |
| Fact Sheet | |
| Annual Report |
Investment Objective
To provide competitive returns consistent with the broad equity market while also providing a level of capital protection during market downturns.
Investment Strategy
This fund is designed to offer a diversified portfolio of dividend-paying U.S. equity securities. Using a systematic process with a focus on mid- to large-capitalization U.S. companies, securities are selected based on factors such as free cash flow generation and earnings power, minimum dividend yield, dividend sustainability, and financial health.
May be Appropriate for Investors
- Seeking to add diversification to their retirement portfolio by investing in high-quality, dividend-yielding securities
- Seeking exposure to U.S. companies with meaningful growth potential due to high free cash flow yields and earnings power
YTD
5.99%
1 Year
12.19%
3 Year
5.18%
5 Year
8.59%
10 Year
9.45%
Inception
(10/01/2011)
12.07%
Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.
Performance through the inception date of the Disciplined Value CIT Class U units is not the past performance of the Disciplined Value CIT Fund and is based on historical performance data for the Manning & Napier Disciplined Value – U.S. Composite, which is a weighted average of discretionary separately managed accounts, and may include proprietary mutual fund accounts, that are managed by Manning & Napier Advisors, LLC with a Disciplined Value – U.S. objective. Returns are net of the Class U expenses.
Expense Ratio
| Gross | 0.26% |
| Net | 0.25%* |
*Reflects the Trustee's contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.
| BANK OF AMERICA CORPORATION | 3.90% |
| J P MORGAN CHASE AND CO | 3.89% |
| UNITEDHEALTH GROUP INC | 3.83% |
| JOHNSON AND JOHNSON | 3.71% |
| CHEVRONTEXACO CORP | 3.54% |
| EXXON MOBIL CORP | 3.50% |
| CATERPILLAR INC DEL | 3.02% |
| WELLS FARGO AND CO NEW | 2.94% |
| CISCO SYS INC | 2.73% |
| HONEYWELL INTL INC | 2.46% |
This investment list is unaudited and excludes cash.
| Financials | 22.18% | |
| Industrials | 18.79% | |
| Energy | 18.28% | |
| Health Care | 15.40% | |
| Information Technology | 8.62% | |
| Consumer Staples | 8.14% | |
| Consumer Discretionary | 4.50% | |
| Materials | 2.54% | |
| Communication Services | 1.54% |
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.
| Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|
| 3M CO | US | 11,757 | $1,201,447.83 | |
| ALLEGION PUB LTD CO | US | 3,141 | $371,109.15 | |
| ANALOG DEVICES INC | US | 9,870 | $2,252,926.20 | |
| ARCHER DANIELS MIDLAND CO | US | 13,579 | $820,850.55 | |
| BANK OF AMERICA CORPORATION | US | 96,922 | $3,854,587.94 | |
| BECTON DICKINSON AND CO | US | 5,436 | $1,270,447.56 | |
| BERKLEY W R CORP | US | 7,491 | $588,642.78 | |
| BEST BUY INC | US | 5,864 | $494,276.56 | |
| BRISTOL MYERS SQUIBB CO | US | 36,898 | $1,532,373.94 | |
| BUNGE GLOBAL SA COM SHS | US | 4,721 | $504,061.17 | |
| CAMPBELL SOUP CO | US | 10,457 | $472,551.83 | |
| CATERPILLAR INC DEL | US | 8,960 | $2,984,576.00 | |
| CF INDS HLDGS INC | US | 6,354 | $470,958.48 | |
| CHESAPEAKE ENERGY CORP | US | 4,720 | $387,936.80 | |
| CHEVRONTEXACO CORP | US | 22,360 | $3,497,551.20 | |
| CINCINNATI FINL CORP | US | 4,825 | $569,832.50 | |
| CISCO SYS INC | US | 56,765 | $2,696,905.15 | |
| CITIGROUP INC | US | 35,434 | $2,248,641.64 | |
| COGNIZANT TECHNOLOGY SOLUTIO | US | 12,580 | $855,440.00 | |
| CONAGRA FOODS INC | US | 16,404 | $466,201.68 | |
| CONOCOPHILLIPS | US | 18,916 | $2,163,612.08 | |
| COTERRA ENERGY INC COM | US | 23,034 | $614,316.78 | |
| CUMMINS INC | US | 3,807 | $1,054,272.51 | |
| DEERE AND CO | US | 4,781 | $1,786,325.03 | |
| DICKS SPORTING GOODS INC | US | 2,654 | $570,211.90 | |
| EAST WEST BANCORP INC | US | 5,121 | $375,010.83 | |
| EBAY INC | US | 14,099 | $757,398.28 | |
| EVEREST GROUP LTD COM | US | 1,444 | $550,192.88 | |
| EXXON MOBIL CORP | US | 30,057 | $3,460,161.84 | |
| FEDEX CORP | US | 4,948 | $1,483,608.32 | |
| FIFTH THIRD BANCORP | US | 19,612 | $715,641.88 | |
| FOX CORP | US | 15,385 | $528,782.45 | |
| GENERAL MLS INC | US | 13,729 | $868,496.54 | |
| GENUINE PARTS CO | US | 4,256 | $588,689.92 | |
| GILEAD SCIENCES INC | US | 24,108 | $1,654,049.88 | |
| HALLIBURTON CO | US | 24,252 | $819,232.56 | |
| HARTFORD FINL SVCS GROUP INC | US | 8,003 | $804,621.62 | |
| HERSHEY FOODS CORP | US | 4,782 | $879,075.06 | |
| HF SINCLAIR CORPORATION COM | US | 7,151 | $381,434.34 | |
| HONEYWELL INTL INC | US | 11,371 | $2,428,163.34 | |
| HUNTINGTON BANCSHARES INC | US | 45,615 | $601,205.70 | |
| HUNTINGTON INGALLS INDS INC | US | 1,397 | $344,123.01 | |
| INTERPUBLIC GROUP COS INC | US | 13,417 | $390,300.53 | |
| INTL PAPER CO | US | 11,443 | $493,765.45 | |
| J P MORGAN CHASE AND CO | US | 18,998 | $3,842,535.48 | |
| JOHNSON AND JOHNSON | US | 25,064 | $3,663,354.24 | |
| KENVUE INC COM | US | 45,189 | $821,536.02 | |
| KIMBERLY CLARK CORP | US | 7,437 | $1,027,793.40 | |
| KRAFT HEINZ CO | US | 27,749 | $894,072.78 | |
| LKQ CORP | US | 8,882 | $369,402.38 | |
| LOCKHEED MARTIN CORP | US | 4,086 | $1,908,570.60 | |
| MARATHON OIL CORP | US | 20,409 | $585,126.03 | |
| MARATHON PETROLEUM CORP | US | 8,540 | $1,481,519.20 | |
| MASCO CORP | US | 6,923 | $461,556.41 | |
| MEDTRONIC PLC SHS | US | 23,264 | $1,831,109.44 | |
| MICROCHIP TECHNOLOGY INC | US | 11,915 | $1,090,222.50 | |
| MOLSON COORS BREWING CO | US | 7,672 | $389,967.76 | |
| MOSAIC CO NEW COM | US | 12,757 | $368,677.30 | |
| OMNICOM GROUP INC | US | 6,669 | $598,209.30 | |
| OVINTIV INC COM | US | 9,502 | $445,358.74 | |
| PACCAR INC | US | 10,412 | $1,071,811.28 | |
| PENSKE AUTOMOTIVE GRP INC | US | 2,485 | $370,314.70 | |
| PERMIAN RESOURCES CORP CLASS A COM | US | 27,371 | $442,041.65 | |
| PHILLIPS 66 | US | 8,953 | $1,263,895.01 | |
| PNC FINL SVCS GROUP INC | US | 8,172 | $1,270,582.56 | |
| PPG INDS INC | US | 6,039 | $760,249.71 | |
| QUEST DIAGNOSTICS INC | US | 3,805 | $520,828.40 | |
| RALPH LAUREN CORP | US | 2,408 | $421,544.48 | |
| ROYALTY PHARMA PLC SHS CL A | US | 19,760 | $521,071.20 | |
| RTX CORPORATION COM | US | 20,795 | $2,087,610.05 | |
| SCHLUMBERGER LTD | US | 29,029 | $1,369,588.22 | |
| SKYWORKS SOLUTIONS INC | US | 5,234 | $557,839.72 | |
| SMITH A O | US | 4,974 | $406,773.72 | |
| SNAP ON INC | US | 1,745 | $456,125.55 | |
| SSNC TECHNOLOGIES HLDGS INC | US | 8,149 | $510,697.83 | |
| SYSCO CORP | US | 12,590 | $898,800.10 | |
| TAPESTRY INC COM | US | 8,421 | $360,334.59 | |
| TE CONNECTIVITY LTD | US | 7,070 | $1,063,540.10 | |
| TRAVELERS COMPANIES INC | US | 5,632 | $1,145,210.88 | |
| TRUIST FINL CORP COM | US | 30,222 | $1,174,124.70 | |
| UNITEDHEALTH GROUP INC | US | 7,435 | $3,786,348.10 | |
| US BANCORP DEL COM | US | 31,765 | $1,261,070.50 | |
| US DOLLARS | US | 1,076,615.9 | $1,076,615.90 | |
| VALERO ENERGY CORP NEW | US | 7,305 | $1,145,131.80 | |
| VIATRIS INC | US | 40,785 | $433,544.55 | |
| WELLS FARGO AND CO NEW | US | 48,852 | $2,901,320.28 | |
| WESTROCK CO | US | 8,164 | $410,322.64 | |
| WILLIAMS SONOMA INC | US | 1,817 | $513,066.29 |
Investments will change over time.
A Word About Risk
All investments involve risks, including possible loss of principal. As with any stock fund, the value of your investment will fluctuate in response to stock market movements. Investing in the Fund will also involve a number of other risks, including issuer-specific risk and mid-cap risk. The Fund invests primarily in dividend-paying equity securities, with a focus on mid- to large- cap companies. There is no assurance or guarantee that such companies will declare, continue to pay, or increase dividends. Stocks of mid-cap companies tend to be more volatile than those of large-cap companies, as midcap companies tend to be more susceptible to adverse business or economic events than larger, more established companies. In addition, because the Advisor manages the Fund using a disciplined screening process, the Fund is subject to the additional risk that the investment approach may not be successful. Further, the Advisor does not intend to make frequent changes to the Fund’s portfolio in response to market movements.
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 Trust Funds. Manning & Napier is headquartered in Rochester, NY and has more than 50 years of experience managing 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.