Collective Investment Trusts
Global Equity CIT
Investment Objective
To capture investment opportunities in U.S. and non-U.S. equities, including those from both developed and emerging countries.
Investment Strategy
This fund is managed using a bottom-up, opportunistic, core approach with top-down input. At least 90% of the portfolio is invested in equities, with a general range of 30% - 70% expected to be invested in securities of companies that are domiciled outside of the U.S. Holdings are selected security-by-security and consist of ordinary (local) shares, in addition to American Depository Receipts (ADRs). This portfolio may be diversified across investment styles, sectors, regions, and market capitalizations.
May be Appropriate for Investors
- Seeking a long-term (15 years or more) investment and who are willing to accept potentially significant fluctuations in value (very high capital risk tolerance)
- Seeking to add diversification to their retirement portfolio by adding a global equity component
Daily Price
$25.31
Daily $ Change
$0.05
Daily % Change
0.20%
as of 07/25/2024
CUSIP
302027180
Inception Date
01/21/2014
Investment Minimum
$1,000,000.00
The fund is available only for use within certain qualified employee benefit plans.
Important Documents
| Applications & Forms | |
| Fact Sheet | |
| Annual Report |
YTD
7.76%
1 Year
15.69%
3 Year
3.11%
5 Year
11.13%
10 Year
8.82%
Inception
(05/01/2006)
7.52%
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 Global Equity CIT Class I units is based on the historical performance of the CIT's oldest unit class. Performance through the inception date of the oldest unit class (11/16/2012) is not the past performance of the Global Equity CIT Fund and is based on historical performance data for the Manning & Napier Global Equity Composite, which is a weighted average of discretionary separately managed accounts that are managed by Manning & Napier Advisors, LLC with a Global Equity objective. Returns are net of the Class I expenses.
Expense Ratio
| Gross | 0.76% |
| Net | 0.75%* |
*Reflects the Trustee's contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.
| AMAZON COM INC | 3.93% |
| ASTRAZENECA PLC | 3.10% |
| MASTERCARD INCORPORATED CL A | 2.84% |
| ALPHABET INC CAP STK CL A | 2.65% |
| VISA INC | 2.59% |
| ELECTRONIC ARTS INC | 2.45% |
| HEINEKEN NV | 2.34% |
| DOLLARAMA INC COM NPV | 2.29% |
| ROCHE HLDGS AG GENUSSCHEINE NPV | 2.22% |
| SERVICENOW INC | 2.20% |
Top Ten Investments list is unaudited and excludes cash.
| United States | 57.75% | |
| United Kingdom | 9.23% | |
| Switzerland | 5.92% | |
| Canada | 5.16% | |
| Germany | 3.43% | |
| Netherlands | 3.28% | |
| Taiwan | 2.17% | |
| India | 2.02% | |
| Japan | 1.84% | |
| France | 1.83% | |
| Luxembourg | 1.67% | |
| Australia | 1.06% | |
| China | 1.00% | |
| Uruguay | 0.93% | |
| Hong Kong | 0.91% | |
| Ireland | 0.76% | |
| Italy | 0.55% | |
| Sweden | 0.49% |
| Financials | 20.36% | |
| Information Technology | 20.15% | |
| Health Care | 16.02% | |
| Industrials | 12.89% | |
| Consumer Staples | 9.59% | |
| Communication Services | 9.41% | |
| Consumer Discretionary | 8.01% | |
| Materials | 1.99% | |
| Utilities | 1.58% |
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) |
|---|---|---|---|---|
| ADMIRAL GROUP | GB | 154,401 | $5,103,912.65 | |
| AIR LIQUIDE | FR | 14,545 | $2,514,130.01 | |
| AIRBUS SE EUR1 | FR | 15,417 | $2,119,261.75 | |
| ALCON INC ORD SHS | US | 30,593 | $2,725,224.44 | |
| ALPHABET INC CAP STK CL A | US | 36,904 | $6,722,063.60 | |
| AMAZON COM INC | US | 51,604 | $9,972,473.00 | |
| APPLE INC COM | US | 15,402 | $3,243,969.24 | |
| APPLIED MATLS INC | US | 13,951 | $3,292,296.49 | |
| ASTRAZENECA PLC | US | 100,699 | $7,853,515.01 | |
| ATLASSIAN CORPORATION CL A | US | 15,145 | $2,678,847.60 | |
| AUTO TRADER GROUP ORD GBP1.50 | GB | 277,787 | $2,813,418.18 | |
| AVANZA BANK HLDG NPV | SE | 51,077 | $1,241,933.82 | |
| BAE SYSTEMS ORD GBP0.025 | GB | 113,402 | $1,892,239.38 | |
| BLACKROCK INC | US | 3,269 | $2,573,749.08 | |
| BRENNTAG AG NPV | DE | 14,297 | $964,724.10 | |
| CANADIAN NATL RY CO | US | 40,282 | $4,758,512.66 | |
| COCA COLA CO | US | 52,981 | $3,372,240.65 | |
| CONSTELLATION BRANDS INC | US | 19,007 | $4,890,120.96 | |
| COPART INC | US | 48,100 | $2,605,096.00 | |
| CSX CORP | US | 69,284 | $2,317,549.80 | |
| DEUTSCHE BOERSE AG NPV(REGD) | DE | 19,938 | $4,083,530.19 | |
| DOLLARAMA INC COM NPV | CA | 63,660 | $5,811,211.02 | |
| ELECTRONIC ARTS INC | US | 44,663 | $6,222,895.79 | |
| EPAM SYS INC | US | 11,000 | $2,069,210.00 | |
| EVERGY INC COM | US | 75,666 | $4,008,028.02 | |
| EXPERIAN ORD USD0.10 | GB | 41,599 | $1,938,294.01 | |
| FINECOBANK SPA EUR0.33 | IT | 92,762 | $1,383,894.02 | |
| FISERV INC | US | 21,009 | $3,131,181.36 | |
| GLOBANT S A | US | 23,787 | $4,240,270.62 | |
| HALMA ORD GBP0.10 | GB | 94,607 | $3,236,178.70 | |
| HDFC BANK LTD | US | 79,560 | $5,118,094.80 | |
| HEINEKEN NV | NL | 61,188 | $5,921,714.98 | |
| HUMANA INC | US | 13,921 | $5,201,581.65 | |
| IDEXX LABS INC | US | 3,305 | $1,610,196.00 | |
| IMCD NV EUR0.16 | NL | 17,372 | $2,407,364.42 | |
| INFINEON TECHNOLOGY | DE | 99,477 | $3,657,409.56 | |
| INTERCONTINENTAL EXCHANGE INC COM | US | 20,256 | $2,772,843.84 | |
| INTERMED CAP GRP ORD GBP0.2625 | GB | 90,648 | $2,500,313.14 | |
| INTUIT | US | 1,976 | $1,298,646.96 | |
| INTUITIVE SURGICAL INC | US | 4,468 | $1,987,589.80 | |
| J P MORGAN CHASE AND CO | US | 9,791 | $1,980,327.66 | |
| JOHNSON AND JOHNSON | US | 28,056 | $4,100,664.96 | |
| KEYENCE CORP | JP | 5,700 | $2,499,906.75 | |
| L3HARRIS TECHNOLOGIES INC COM | US | 18,081 | $4,060,630.98 | |
| LONZA GROUP AG CHF1(REGD) | CH | 4,135 | $2,256,625.86 | |
| MASCO CORP | US | 47,347 | $3,156,624.49 | |
| MASTERCARD INCORPORATED CL A | US | 16,318 | $7,198,848.88 | |
| MERCADOLIBRE INC | US | 1,442 | $2,369,782.80 | |
| META PLATFORMS INC CL A | US | 11,053 | $5,573,143.66 | |
| MICRON TECHNOLOGY INC | US | 25,810 | $3,394,789.30 | |
| MICROSOFT CORP | US | 10,918 | $4,879,800.10 | |
| MONDELEZ INTL INC | US | 31,904 | $2,087,797.76 | |
| MOODYS CORP | US | 8,205 | $3,453,730.65 | |
| MSCI INC | US | 4,077 | $1,964,094.75 | |
| NESTLE SA CHF0.10 (REGD) | CH | 43,232 | $4,412,685.33 | |
| NORTHROP GRUMMAN CORP | US | 5,295 | $2,308,355.25 | |
| NVIDIA CORP | US | 21,439 | $2,648,574.06 | |
| PHILIP MORRIS INTL INC | US | 35,934 | $3,641,192.22 | |
| ROCHE HLDGS AG GENUSSCHEINE NPV | CH | 20,255 | $5,623,884.38 | |
| S AND P GLOBAL INC | US | 5,708 | $2,545,768.00 | |
| SALESFORCE INC COM | US | 11,186 | $2,875,920.60 | |
| SERVICENOW INC | US | 7,095 | $5,581,423.65 | |
| SONY CORP NPV | JP | 25,400 | $2,153,773.47 | |
| TAIWAN SEMICONDUCTOR MFG LTD | US | 31,675 | $5,505,431.75 | |
| TECHTRONIC INDUSTRIES | HK | 201,000 | $2,296,436.71 | |
| TENCENT HLDGS LIMI HKD0.00002 | HK | 53,200 | $2,537,551.55 | |
| THERMO FISHER SCIENTIFIC INC COM | US | 3,679 | $2,034,487.00 | |
| UNION PAC CORP | US | 8,200 | $1,855,332.00 | |
| UNITEDHEALTH GROUP INC | US | 10,212 | $5,200,563.12 | |
| US DOLLARS | US | 4,069,272.25 | $4,069,272.25 | |
| VERTEX PHARMACEUTICALS INC | US | 4,352 | $2,039,869.44 | |
| VISA INC | US | 25,046 | $6,573,823.62 | |
| WEST FRASER TIMBER COM NPV | CA | 32,882 | $2,524,874.29 |
Investments will change over time.
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 fund 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.
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
$25.31
Daily $ Change
$0.05
Daily % Change
0.20%
as of 07/25/2024
CUSIP
302027180
Inception Date
01/21/2014
Investment Minimum
$1,000,000.00
The fund is available only for use within certain qualified employee benefit plans.
Important Documents
| Applications & Forms | |
| Fact Sheet | |
| Annual Report |
Investment Objective
To capture investment opportunities in U.S. and non-U.S. equities, including those from both developed and emerging countries.
Investment Strategy
This fund is managed using a bottom-up, opportunistic, core approach with top-down input. At least 90% of the portfolio is invested in equities, with a general range of 30% - 70% expected to be invested in securities of companies that are domiciled outside of the U.S. Holdings are selected security-by-security and consist of ordinary (local) shares, in addition to American Depository Receipts (ADRs). This portfolio may be diversified across investment styles, sectors, regions, and market capitalizations.
May be Appropriate for Investors
- Seeking a long-term (15 years or more) investment and who are willing to accept potentially significant fluctuations in value (very high capital risk tolerance)
- Seeking to add diversification to their retirement portfolio by adding a global equity component
YTD
7.76%
1 Year
15.69%
3 Year
3.11%
5 Year
11.13%
10 Year
8.82%
Inception
(05/01/2006)
7.52%
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 Global Equity CIT Class I units is based on the historical performance of the CIT's oldest unit class. Performance through the inception date of the oldest unit class (11/16/2012) is not the past performance of the Global Equity CIT Fund and is based on historical performance data for the Manning & Napier Global Equity Composite, which is a weighted average of discretionary separately managed accounts that are managed by Manning & Napier Advisors, LLC with a Global Equity objective. Returns are net of the Class I expenses.
Expense Ratio
| Gross | 0.76% |
| Net | 0.75%* |
*Reflects the Trustee's contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.
| AMAZON COM INC | 3.93% |
| ASTRAZENECA PLC | 3.10% |
| MASTERCARD INCORPORATED CL A | 2.84% |
| ALPHABET INC CAP STK CL A | 2.65% |
| VISA INC | 2.59% |
| ELECTRONIC ARTS INC | 2.45% |
| HEINEKEN NV | 2.34% |
| DOLLARAMA INC COM NPV | 2.29% |
| ROCHE HLDGS AG GENUSSCHEINE NPV | 2.22% |
| SERVICENOW INC | 2.20% |
Top Ten Investments list is unaudited and excludes cash.
| United States | 57.75% | |
| United Kingdom | 9.23% | |
| Switzerland | 5.92% | |
| Canada | 5.16% | |
| Germany | 3.43% | |
| Netherlands | 3.28% | |
| Taiwan | 2.17% | |
| India | 2.02% | |
| Japan | 1.84% | |
| France | 1.83% | |
| Luxembourg | 1.67% | |
| Australia | 1.06% | |
| China | 1.00% | |
| Uruguay | 0.93% | |
| Hong Kong | 0.91% | |
| Ireland | 0.76% | |
| Italy | 0.55% | |
| Sweden | 0.49% |
| Financials | 20.36% | |
| Information Technology | 20.15% | |
| Health Care | 16.02% | |
| Industrials | 12.89% | |
| Consumer Staples | 9.59% | |
| Communication Services | 9.41% | |
| Consumer Discretionary | 8.01% | |
| Materials | 1.99% | |
| Utilities | 1.58% |
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) |
|---|---|---|---|---|
| ADMIRAL GROUP | GB | 154,401 | $5,103,912.65 | |
| AIR LIQUIDE | FR | 14,545 | $2,514,130.01 | |
| AIRBUS SE EUR1 | FR | 15,417 | $2,119,261.75 | |
| ALCON INC ORD SHS | US | 30,593 | $2,725,224.44 | |
| ALPHABET INC CAP STK CL A | US | 36,904 | $6,722,063.60 | |
| AMAZON COM INC | US | 51,604 | $9,972,473.00 | |
| APPLE INC COM | US | 15,402 | $3,243,969.24 | |
| APPLIED MATLS INC | US | 13,951 | $3,292,296.49 | |
| ASTRAZENECA PLC | US | 100,699 | $7,853,515.01 | |
| ATLASSIAN CORPORATION CL A | US | 15,145 | $2,678,847.60 | |
| AUTO TRADER GROUP ORD GBP1.50 | GB | 277,787 | $2,813,418.18 | |
| AVANZA BANK HLDG NPV | SE | 51,077 | $1,241,933.82 | |
| BAE SYSTEMS ORD GBP0.025 | GB | 113,402 | $1,892,239.38 | |
| BLACKROCK INC | US | 3,269 | $2,573,749.08 | |
| BRENNTAG AG NPV | DE | 14,297 | $964,724.10 | |
| CANADIAN NATL RY CO | US | 40,282 | $4,758,512.66 | |
| COCA COLA CO | US | 52,981 | $3,372,240.65 | |
| CONSTELLATION BRANDS INC | US | 19,007 | $4,890,120.96 | |
| COPART INC | US | 48,100 | $2,605,096.00 | |
| CSX CORP | US | 69,284 | $2,317,549.80 | |
| DEUTSCHE BOERSE AG NPV(REGD) | DE | 19,938 | $4,083,530.19 | |
| DOLLARAMA INC COM NPV | CA | 63,660 | $5,811,211.02 | |
| ELECTRONIC ARTS INC | US | 44,663 | $6,222,895.79 | |
| EPAM SYS INC | US | 11,000 | $2,069,210.00 | |
| EVERGY INC COM | US | 75,666 | $4,008,028.02 | |
| EXPERIAN ORD USD0.10 | GB | 41,599 | $1,938,294.01 | |
| FINECOBANK SPA EUR0.33 | IT | 92,762 | $1,383,894.02 | |
| FISERV INC | US | 21,009 | $3,131,181.36 | |
| GLOBANT S A | US | 23,787 | $4,240,270.62 | |
| HALMA ORD GBP0.10 | GB | 94,607 | $3,236,178.70 | |
| HDFC BANK LTD | US | 79,560 | $5,118,094.80 | |
| HEINEKEN NV | NL | 61,188 | $5,921,714.98 | |
| HUMANA INC | US | 13,921 | $5,201,581.65 | |
| IDEXX LABS INC | US | 3,305 | $1,610,196.00 | |
| IMCD NV EUR0.16 | NL | 17,372 | $2,407,364.42 | |
| INFINEON TECHNOLOGY | DE | 99,477 | $3,657,409.56 | |
| INTERCONTINENTAL EXCHANGE INC COM | US | 20,256 | $2,772,843.84 | |
| INTERMED CAP GRP ORD GBP0.2625 | GB | 90,648 | $2,500,313.14 | |
| INTUIT | US | 1,976 | $1,298,646.96 | |
| INTUITIVE SURGICAL INC | US | 4,468 | $1,987,589.80 | |
| J P MORGAN CHASE AND CO | US | 9,791 | $1,980,327.66 | |
| JOHNSON AND JOHNSON | US | 28,056 | $4,100,664.96 | |
| KEYENCE CORP | JP | 5,700 | $2,499,906.75 | |
| L3HARRIS TECHNOLOGIES INC COM | US | 18,081 | $4,060,630.98 | |
| LONZA GROUP AG CHF1(REGD) | CH | 4,135 | $2,256,625.86 | |
| MASCO CORP | US | 47,347 | $3,156,624.49 | |
| MASTERCARD INCORPORATED CL A | US | 16,318 | $7,198,848.88 | |
| MERCADOLIBRE INC | US | 1,442 | $2,369,782.80 | |
| META PLATFORMS INC CL A | US | 11,053 | $5,573,143.66 | |
| MICRON TECHNOLOGY INC | US | 25,810 | $3,394,789.30 | |
| MICROSOFT CORP | US | 10,918 | $4,879,800.10 | |
| MONDELEZ INTL INC | US | 31,904 | $2,087,797.76 | |
| MOODYS CORP | US | 8,205 | $3,453,730.65 | |
| MSCI INC | US | 4,077 | $1,964,094.75 | |
| NESTLE SA CHF0.10 (REGD) | CH | 43,232 | $4,412,685.33 | |
| NORTHROP GRUMMAN CORP | US | 5,295 | $2,308,355.25 | |
| NVIDIA CORP | US | 21,439 | $2,648,574.06 | |
| PHILIP MORRIS INTL INC | US | 35,934 | $3,641,192.22 | |
| ROCHE HLDGS AG GENUSSCHEINE NPV | CH | 20,255 | $5,623,884.38 | |
| S AND P GLOBAL INC | US | 5,708 | $2,545,768.00 | |
| SALESFORCE INC COM | US | 11,186 | $2,875,920.60 | |
| SERVICENOW INC | US | 7,095 | $5,581,423.65 | |
| SONY CORP NPV | JP | 25,400 | $2,153,773.47 | |
| TAIWAN SEMICONDUCTOR MFG LTD | US | 31,675 | $5,505,431.75 | |
| TECHTRONIC INDUSTRIES | HK | 201,000 | $2,296,436.71 | |
| TENCENT HLDGS LIMI HKD0.00002 | HK | 53,200 | $2,537,551.55 | |
| THERMO FISHER SCIENTIFIC INC COM | US | 3,679 | $2,034,487.00 | |
| UNION PAC CORP | US | 8,200 | $1,855,332.00 | |
| UNITEDHEALTH GROUP INC | US | 10,212 | $5,200,563.12 | |
| US DOLLARS | US | 4,069,272.25 | $4,069,272.25 | |
| VERTEX PHARMACEUTICALS INC | US | 4,352 | $2,039,869.44 | |
| VISA INC | US | 25,046 | $6,573,823.62 | |
| WEST FRASER TIMBER COM NPV | CA | 32,882 | $2,524,874.29 |
Investments will change over time.
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 fund 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.
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.