Collective Investment Trust

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

$30.62

Daily $ Change

-$0.35

Daily % Change

-1.14%

as of 06/07/2023

CUSIP

302027172

Inception Date

11/16/2012

Investment Minimum

$50,000,000.00

This fund is available only for use within certain qualified employee benefit plans.

Important Documents

Applications & Forms
Fact Sheet
Annual Report

Performance

As of 05/31/2023

YTD

11.68%

1 Year

3.36%

3 Year

9.32%

5 Year

8.98%

10 Year

9.09%

Inception
(11/16/2012)

6.89%

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 Z units 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 estimated net of a model fee of 0.75%, which is the highest trustee fee for the Global Equity CIT Class Z units. Actual fees charged on accounts may vary.

Expense Ratio

Custom ---%

Top Ten Investments

As of 05/31/2023

AMAZON.COM INC 3.35%
MASTERCARD INC-CLASS A 3.30%
META PLATFORMS INC 3.22%
MEDTRONIC INC 3.14%
NESTLE SA-REGISTERED 2.76%
ELECTRONIC ARTS 2.48%
VISA INC - CLASS A SHARES 2.40%
MICRON TECHNOLOGY INC 2.39%
NOVARTIS AG- REG 2.29%
SERVICENOW INC 2.26%

Top Ten Investments list is unaudited and excludes cash

Country Allocation

As of 05/31/2023

United States
62.04%
United Kingdom
10.49%
Switzerland
6.74%
Ireland
3.70%
Canada
2.99%
Netherlands
1.66%
Japan
1.54%
France
1.53%
Mexico
1.52%
Taiwan
1.52%
Germany
1.49%
India
1.11%
Spain
0.98%
Sweden
0.83%
Italy
0.74%
Australia
0.62%
Brazil
0.50%

Sector Allocation

As of 05/31/2023

Communication Services
8.80%
Consumer Discretionary
7.55%
Consumer Staples
14.47%
Financials
17.44%
Health Care
18.21%
Industrials
10.39%
Information Technology
16.85%
Materials
3.25%
Real Estate
2.40%
Utilities
0.64%

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 PLC GB ADM LN 174,193 $5,045,819.22
ADVANCED MICRO DEVICES INC US AMD 13,810 $1,632,480.10
AIR LIQUIDE FR AI FP 12,739 $2,134,454.43
AIRBUS SE FR AIR FP 10,576 $1,388,896.28
ALCON INC CH ALC 50,637 $3,918,797.43
ALPHABET INC-CL A US GOOGL 40,011 $4,916,151.57
AMAZON.COM INC US AMZN 64,219 $7,743,527.02
APPLIED MATERIALS INC US AMAT 26,079 $3,476,330.70
ASTRAZENECA GB AZN 66,741 $4,877,432.28
ATLASSIAN CORP PLC-CLASS A AU TEAM 7,961 $1,439,269.19
AVANZA BANK HOLDING AB SE AZA SS 92,783 $1,926,626.84
BAE SYSTEMS PLC GB BA/ LN 391,289 $4,522,340.97
BARRICK GOLD CORP CA GOLD 43,053 $726,734.64
BIOMARIN PHARMACEUTICAL INC US BMRN 31,452 $2,734,436.88
BOSTON SCIENTIFIC CORP US BSX 37,393 $1,924,991.64
CANADIAN NATIONAL RAILWAY CO CA CNI 25,151 $2,835,272.23
CBOE GLOBAL MARKETS INC US CBOE 27,790 $3,679,951.80
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 111,317 $2,250,829.74
COCA COLA CO/THE US KO 58,844 $3,510,633.04
CONSTELLATION BRANDS INC-A US STZ 15,439 $3,751,213.83
COPART INC US CPRT 13,920 $1,219,252.80
CSX CORP US CSX 20,449 $627,170.83
CVS HEALTH CORP US CVS 16,864 $1,147,257.92
DEUTSCHE BOERSE AG DE DB1 GR 19,938 $3,448,551.91
DIAGEO PLC GB DGE LN 59,592 $2,477,391.41
DOLLAR GENERAL CORP US DG 9,697 $1,949,969.73
DOLLAR TREE STORES INC US DLTR 15,958 $2,152,415.04
DOMINO'S PIZZA US DPZ 3,706 $1,074,184.10
DREYFUS GVT CSH MANAGEMENT US 11,903,230.29 $11,903,230.29
ELECTRONIC ARTS US EA 44,663 $5,716,864.00
EQUINIX INC US EQIX 4,804 $3,581,622.20
EVERGY INC US EVRG 25,505 $1,475,464.25
FINECOBANK SPA IT FBK IM 127,776 $1,706,853.32
FMC CORP US FMC 27,000 $2,810,160.00
HDFC BANK LTD-ADR IN HDB 39,767 $2,560,994.80
HEINEKEN NV NL HEIA NA 37,930 $3,837,699.07
HUMANA INC US HUM 3,607 $1,810,245.09
IDEXX LABORATORIES INC US IDXX 5,796 $2,693,806.92
INTERCONTINENTALEXCHANGE INC US ICE 13,447 $1,424,709.65
INTUIT INC US INTU 8,677 $3,636,704.24
INTUITIVE SURGICAL INC US ISRG 5,997 $1,846,116.48
JOHNSON & JOHNSON US JNJ 23,399 $3,628,248.94
JP MORGAN CHASE & CO US JPM 13,111 $1,779,293.81
KEYENCE CORP JP 6861 JP 2,400 $1,163,466.98
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 1,722,400 $3,519,970.60
L3HARRIS TECHNOLOGIES INC US LHX 10,480 $1,843,641.60
LINDE PLC IE LIN 3,664 $1,295,810.24
LULULEMON - ADR CA LULU 10,071 $3,342,867.03
MASCO CORP US MAS 88,334 $4,268,298.88
MASTERCARD INC-CLASS A US MA 20,873 $7,619,062.46
MEDTRONIC INC IE MDT 87,445 $7,236,948.20
MERCADOLIBRE INC BR MELI 939 $1,163,421.00
META PLATFORMS INC US META 28,079 $7,433,072.88
MICRON TECHNOLOGY INC US MU 80,858 $5,514,515.60
MICROSOFT CORP US MSFT 14,612 $4,798,434.68
MONDELEZ INTERNATIONAL INC US MDLZ 31,904 $2,342,072.64
MOODY'S CORPORATION US MCO 9,834 $3,116,197.92
NESTLE SA-REGISTERED CH NESN SW 53,750 $6,371,326.35
NEWMONT GOLDCORP CORP US NEM 13,235 $536,679.25
NIKE INC CLASS B US NKE 16,377 $1,723,843.02
NORTHROP GRUMMAN CORP US NOC 5,295 $2,305,919.55
NOVARTIS AG- REG CH NVS 54,826 $5,277,002.50
RENTOKIL INITIAL PLC GB RTO LN 478,265 $3,804,396.65
S&P GLOBAL INC US SPGI 6,542 $2,403,727.06
SALESFORCE INC US CRM 19,358 $4,324,190.04
SBA COMMUNICATIONS CORP US SBAC 8,802 $1,952,107.56
SERVICENOW INC US NOW 9,580 $5,218,992.40
SNOWFLAKE INC-CLASS A US SNOW 25,341 $4,190,387.76
SONY CORP FIRST SECTION JP 6758 JP 25,400 $2,382,021.76
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 35,579 $3,507,733.61
THERMO FISHER SCIENTIFIC INC US TMO 3,679 $1,870,624.34
UNILEVER PLC - ADR GB UL 69,629 $3,477,272.26
UNION PAC CORP US UNP 6,085 $1,171,484.20
UNITEDHEALTH GROUP INC US UNH 2,805 $1,366,708.20
VERTEX PHARMACEUTICALS INC US VRTX 5,290 $1,711,685.30
VISA INC - CLASS A SHARES US V 25,046 $5,535,917.38

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

$30.62

Daily $ Change

-$0.35

Daily % Change

-$1.14

as of 06/07/2023

CUSIP

302027172

Inception Date

11/16/2012

Investment Minimum

$50,000,000.00

This 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

Performance

As of 05/31/2023

YTD

11.68%

1 Year

3.36%

3 Year

9.32%

5 Year

8.98%

10 Year

9.09%

Inception
(11/16/2012)

6.89%

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 Z units 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 estimated net of a model fee of 0.75%, which is the highest trustee fee for the Global Equity CIT Class Z units. Actual fees charged on accounts may vary.

Expense Ratio

Custom ---%

Top Ten Investments

As of 05/31/2023

AMAZON.COM INC 3.35%
MASTERCARD INC-CLASS A 3.30%
META PLATFORMS INC 3.22%
MEDTRONIC INC 3.14%
NESTLE SA-REGISTERED 2.76%
ELECTRONIC ARTS 2.48%
VISA INC - CLASS A SHARES 2.40%
MICRON TECHNOLOGY INC 2.39%
NOVARTIS AG- REG 2.29%
SERVICENOW INC 2.26%

Top Ten Investments list is unaudited and excludes cash

Country Allocation

As of 05/31/2023

United States
62.04%
United Kingdom
10.49%
Switzerland
6.74%
Ireland
3.70%
Canada
2.99%
Netherlands
1.66%
Japan
1.54%
France
1.53%
Mexico
1.52%
Taiwan
1.52%
Germany
1.49%
India
1.11%
Spain
0.98%
Sweden
0.83%
Italy
0.74%
Australia
0.62%
Brazil
0.50%

Sector Allocation

As of 05/31/2023

Communication Services
8.80%
Consumer Discretionary
7.55%
Consumer Staples
14.47%
Financials
17.44%
Health Care
18.21%
Industrials
10.39%
Information Technology
16.85%
Materials
3.25%
Real Estate
2.40%
Utilities
0.64%

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 PLC GB ADM LN 174,193 $5,045,819.22
ADVANCED MICRO DEVICES INC US AMD 13,810 $1,632,480.10
AIR LIQUIDE FR AI FP 12,739 $2,134,454.43
AIRBUS SE FR AIR FP 10,576 $1,388,896.28
ALCON INC CH ALC 50,637 $3,918,797.43
ALPHABET INC-CL A US GOOGL 40,011 $4,916,151.57
AMAZON.COM INC US AMZN 64,219 $7,743,527.02
APPLIED MATERIALS INC US AMAT 26,079 $3,476,330.70
ASTRAZENECA GB AZN 66,741 $4,877,432.28
ATLASSIAN CORP PLC-CLASS A AU TEAM 7,961 $1,439,269.19
AVANZA BANK HOLDING AB SE AZA SS 92,783 $1,926,626.84
BAE SYSTEMS PLC GB BA/ LN 391,289 $4,522,340.97
BARRICK GOLD CORP CA GOLD 43,053 $726,734.64
BIOMARIN PHARMACEUTICAL INC US BMRN 31,452 $2,734,436.88
BOSTON SCIENTIFIC CORP US BSX 37,393 $1,924,991.64
CANADIAN NATIONAL RAILWAY CO CA CNI 25,151 $2,835,272.23
CBOE GLOBAL MARKETS INC US CBOE 27,790 $3,679,951.80
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 111,317 $2,250,829.74
COCA COLA CO/THE US KO 58,844 $3,510,633.04
CONSTELLATION BRANDS INC-A US STZ 15,439 $3,751,213.83
COPART INC US CPRT 13,920 $1,219,252.80
CSX CORP US CSX 20,449 $627,170.83
CVS HEALTH CORP US CVS 16,864 $1,147,257.92
DEUTSCHE BOERSE AG DE DB1 GR 19,938 $3,448,551.91
DIAGEO PLC GB DGE LN 59,592 $2,477,391.41
DOLLAR GENERAL CORP US DG 9,697 $1,949,969.73
DOLLAR TREE STORES INC US DLTR 15,958 $2,152,415.04
DOMINO'S PIZZA US DPZ 3,706 $1,074,184.10
DREYFUS GVT CSH MANAGEMENT US 11,903,230.29 $11,903,230.29
ELECTRONIC ARTS US EA 44,663 $5,716,864.00
EQUINIX INC US EQIX 4,804 $3,581,622.20
EVERGY INC US EVRG 25,505 $1,475,464.25
FINECOBANK SPA IT FBK IM 127,776 $1,706,853.32
FMC CORP US FMC 27,000 $2,810,160.00
HDFC BANK LTD-ADR IN HDB 39,767 $2,560,994.80
HEINEKEN NV NL HEIA NA 37,930 $3,837,699.07
HUMANA INC US HUM 3,607 $1,810,245.09
IDEXX LABORATORIES INC US IDXX 5,796 $2,693,806.92
INTERCONTINENTALEXCHANGE INC US ICE 13,447 $1,424,709.65
INTUIT INC US INTU 8,677 $3,636,704.24
INTUITIVE SURGICAL INC US ISRG 5,997 $1,846,116.48
JOHNSON & JOHNSON US JNJ 23,399 $3,628,248.94
JP MORGAN CHASE & CO US JPM 13,111 $1,779,293.81
KEYENCE CORP JP 6861 JP 2,400 $1,163,466.98
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 1,722,400 $3,519,970.60
L3HARRIS TECHNOLOGIES INC US LHX 10,480 $1,843,641.60
LINDE PLC IE LIN 3,664 $1,295,810.24
LULULEMON - ADR CA LULU 10,071 $3,342,867.03
MASCO CORP US MAS 88,334 $4,268,298.88
MASTERCARD INC-CLASS A US MA 20,873 $7,619,062.46
MEDTRONIC INC IE MDT 87,445 $7,236,948.20
MERCADOLIBRE INC BR MELI 939 $1,163,421.00
META PLATFORMS INC US META 28,079 $7,433,072.88
MICRON TECHNOLOGY INC US MU 80,858 $5,514,515.60
MICROSOFT CORP US MSFT 14,612 $4,798,434.68
MONDELEZ INTERNATIONAL INC US MDLZ 31,904 $2,342,072.64
MOODY'S CORPORATION US MCO 9,834 $3,116,197.92
NESTLE SA-REGISTERED CH NESN SW 53,750 $6,371,326.35
NEWMONT GOLDCORP CORP US NEM 13,235 $536,679.25
NIKE INC CLASS B US NKE 16,377 $1,723,843.02
NORTHROP GRUMMAN CORP US NOC 5,295 $2,305,919.55
NOVARTIS AG- REG CH NVS 54,826 $5,277,002.50
RENTOKIL INITIAL PLC GB RTO LN 478,265 $3,804,396.65
S&P GLOBAL INC US SPGI 6,542 $2,403,727.06
SALESFORCE INC US CRM 19,358 $4,324,190.04
SBA COMMUNICATIONS CORP US SBAC 8,802 $1,952,107.56
SERVICENOW INC US NOW 9,580 $5,218,992.40
SNOWFLAKE INC-CLASS A US SNOW 25,341 $4,190,387.76
SONY CORP FIRST SECTION JP 6758 JP 25,400 $2,382,021.76
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 35,579 $3,507,733.61
THERMO FISHER SCIENTIFIC INC US TMO 3,679 $1,870,624.34
UNILEVER PLC - ADR GB UL 69,629 $3,477,272.26
UNION PAC CORP US UNP 6,085 $1,171,484.20
UNITEDHEALTH GROUP INC US UNH 2,805 $1,366,708.20
VERTEX PHARMACEUTICALS INC US VRTX 5,290 $1,711,685.30
VISA INC - CLASS A SHARES US V 25,046 $5,535,917.38

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.

Sign up to receive the latest financial planning and investment tips and news.

View all Preferences