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
$32.61
Daily $ Change
$0.24
Daily % Change
0.74%
as of 12/01/2023
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 |
YTD
7.86%
1 Year
9.70%
3 Year
5.53%
5 Year
9.02%
10 Year
7.70%
Inception
(11/16/2012)
6.50%
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 | ---% |
| AMAZON.COM INC | 3.86% |
| META PLATFORMS INC | 3.82% |
| MASTERCARD INC-CLASS A | 3.55% |
| MEDTRONIC INC | 2.79% |
| VISA INC - CLASS A SHARES | 2.66% |
| NESTLE SA-REGISTERED | 2.62% |
| SERVICENOW INC | 2.52% |
| ELECTRONIC ARTS | 2.50% |
| MICRON TECHNOLOGY INC | 2.44% |
| ADMIRAL GROUP PLC | 2.34% |
Top Ten Investments list is unaudited and excludes cash
| United States | 63.07% | |
| United Kingdom | 9.97% | |
| Switzerland | 6.64% | |
| Ireland | 2.79% | |
| Canada | 2.58% | |
| France | 1.63% | |
| Netherlands | 1.54% | |
| Germany | 1.48% | |
| India | 1.40% | |
| Taiwan | 1.39% | |
| Japan | 1.37% | |
| Bermuda | 1.25% | |
| China | 1.03% | |
| Spain | 0.73% | |
| Sweden | 0.71% | |
| Italy | 0.68% | |
| Australia | 0.65% | |
| Mexico | 0.56% | |
| Brazil | 0.53% |
| Communication Services | 10.33% | |
| Consumer Discretionary | 8.63% | |
| Consumer Staples | 11.32% | |
| Financials | 19.99% | |
| Health Care | 17.86% | |
| Industrials | 10.38% | |
| Information Technology | 15.75% | |
| Materials | 2.18% | |
| Real Estate | 2.99% | |
| Utilities | 0.57% |
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 | $5,175,754.07 |
| AIR LIQUIDE | FR | AI FP | 12,739 | $2,182,856.34 |
| AIRBUS SE | FR | AIR FP | 10,576 | $1,417,990.06 |
| ALCON INC | CH | ALC | 30,593 | $2,181,892.76 |
| ALPHABET INC-CL A | US | GOOGL | 40,011 | $4,964,564.88 |
| AMAZON.COM INC | US | AMZN | 64,219 | $8,546,906.71 |
| APPLIED MATERIALS INC | US | AMAT | 26,079 | $3,451,555.65 |
| ASTRAZENECA | GB | AZN | 66,741 | $4,220,033.43 |
| ATLASSIAN CORP PLC-CLASS A | AU | TEAM | 7,961 | $1,438,075.04 |
| AVANZA BANK HOLDING AB | SE | AZA SS | 92,783 | $1,568,487.89 |
| BAE SYSTEMS PLC | GB | BA/ LN | 194,307 | $2,612,726.22 |
| BIOMARIN PHARMACEUTICAL INC | US | BMRN | 31,452 | $2,561,765.40 |
| BOSTON SCIENTIFIC CORP | US | BSX | 24,662 | $1,262,447.78 |
| CANADIAN NATIONAL RAILWAY CO | CA | CNI | 25,151 | $2,660,472.78 |
| CBOE GLOBAL MARKETS INC | US | CBOE | 27,790 | $4,554,503.10 |
| CELLNEX TELECOM SAU-UNSP ADR | ES | CLLNY | 111,317 | $1,625,228.20 |
| COCA COLA CO/THE | US | KO | 58,844 | $3,324,097.56 |
| CONSTELLATION BRANDS INC-A | US | STZ | 15,439 | $3,615,041.85 |
| COPART INC | US | CPRT | 27,840 | $1,211,596.80 |
| CSX CORP | US | CSX | 20,449 | $610,402.65 |
| CVS HEALTH CORP | US | CVS | 16,864 | $1,163,784.64 |
| DEUTSCHE BOERSE AG | DE | DB1 GR | 19,938 | $3,281,724.25 |
| DIAGEO PLC | GB | DGE LN | 59,592 | $2,253,532.55 |
| DREYFUS GVT CSH MANAGEMENT | US | 9,986,737.01 | $9,986,737.01 | |
| ELECTRONIC ARTS | US | EA | 44,663 | $5,528,832.77 |
| EQUINIX INC | US | EQIX | 4,804 | $3,505,190.56 |
| EVERGY INC | US | EVRG | 25,505 | $1,253,315.70 |
| FINECOBANK SPA | IT | FBK IM | 127,776 | $1,507,328.21 |
| FMC CORP | US | FMC | 49,491 | $2,632,921.20 |
| HALMA PLC | GB | HLMA LN | 92,114 | $2,071,494.51 |
| HDFC BANK LTD-ADR | IN | HDB | 54,842 | $3,101,315.10 |
| HEINEKEN NV | NL | HEIA NA | 37,930 | $3,407,761.93 |
| HUMANA INC | US | HUM | 3,607 | $1,888,949.83 |
| IDEXX LABORATORIES INC | US | IDXX | 5,796 | $2,315,328.12 |
| INTERCONTINENTALEXCHANGE INC | US | ICE | 13,447 | $1,444,745.68 |
| INTUIT INC | US | INTU | 2,261 | $1,119,081.95 |
| INTUITIVE SURGICAL INC | US | ISRG | 5,997 | $1,572,533.34 |
| JOHNSON & JOHNSON | US | JNJ | 29,732 | $4,410,444.88 |
| JP MORGAN CHASE & CO | US | JPM | 13,111 | $1,823,215.66 |
| KEYENCE CORP | JP | 6861 JP | 2,400 | $929,084.92 |
| KIMBERLY CLARK DE MEXICO S.A.B. | MX | KIMBERA MM | 678,200 | $1,242,871.37 |
| L3HARRIS TECHNOLOGIES INC | US | LHX | 20,459 | $3,670,549.19 |
| LONZA GROUP AG -REG | CH | LONN SW | 4,550 | $1,593,428.13 |
| LULULEMON - ADR | CA | LULU | 7,749 | $3,049,076.52 |
| MASCO CORP | US | MAS | 88,334 | $4,601,318.06 |
| MASTERCARD INC-CLASS A | US | MA | 20,873 | $7,855,553.55 |
| MEDTRONIC INC | IE | MDT | 87,445 | $6,170,119.20 |
| MERCADOLIBRE INC | BR | MELI | 939 | $1,165,054.86 |
| META PLATFORMS INC | US | META | 28,079 | $8,459,360.33 |
| MICRON TECHNOLOGY INC | US | MU | 80,858 | $5,406,974.46 |
| MICROSOFT CORP | US | MSFT | 12,515 | $4,231,446.65 |
| MONDELEZ INTERNATIONAL INC | US | MDLZ | 31,904 | $2,112,363.84 |
| MOODY'S CORPORATION | US | MCO | 9,834 | $3,028,872.00 |
| NESTLE SA-REGISTERED | CH | NESN SW | 53,750 | $5,796,334.47 |
| NIKE INC CLASS B | US | NKE | 41,104 | $4,224,258.08 |
| NORTHROP GRUMMAN CORP | US | NOC | 5,295 | $2,496,221.85 |
| NOVARTIS AG- REG | CH | NVS | 54,826 | $5,130,617.08 |
| RENAISSANCERE HOLDINGS LTD | BM | RNR | 12,633 | $2,774,080.47 |
| RENTOKIL INITIAL PLC | GB | RTO LN | 478,265 | $2,435,560.30 |
| S&P GLOBAL INC | US | SPGI | 6,542 | $2,285,186.02 |
| SALESFORCE INC | US | CRM | 19,358 | $3,887,667.14 |
| SBA COMMUNICATIONS CORP | US | SBAC | 14,910 | $3,110,673.30 |
| SERVICENOW INC | US | NOW | 9,580 | $5,574,123.00 |
| SNOWFLAKE INC-CLASS A | US | SNOW | 25,341 | $3,677,739.33 |
| SONY CORP FIRST SECTION | JP | 6758 JP | 25,400 | $2,111,727.71 |
| TAIWAN SEMICONDUCTOR - SP ADR | TW | TSM | 35,579 | $3,070,823.49 |
| TENCENT HOLDINGS LTD | CN | 700 HK | 61,600 | $2,279,739.38 |
| THERMO FISHER SCIENTIFIC INC | US | TMO | 3,679 | $1,636,308.83 |
| UNILEVER PLC - ADR | GB | UL | 69,629 | $3,296,933.15 |
| UNION PAC CORP | US | UNP | 6,085 | $1,263,306.85 |
| UNITEDHEALTH GROUP INC | US | UNH | 2,805 | $1,502,245.80 |
| VERTEX PHARMACEUTICALS INC | US | VRTX | 5,290 | $1,915,561.90 |
| VISA INC - CLASS A SHARES | US | V | 25,046 | $5,888,314.60 |
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
$32.61
Daily $ Change
$0.24
Daily % Change
0.74%
as of 12/01/2023
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
YTD
7.86%
1 Year
9.70%
3 Year
5.53%
5 Year
9.02%
10 Year
7.70%
Inception
(11/16/2012)
6.50%
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 | ---% |
| AMAZON.COM INC | 3.86% |
| META PLATFORMS INC | 3.82% |
| MASTERCARD INC-CLASS A | 3.55% |
| MEDTRONIC INC | 2.79% |
| VISA INC - CLASS A SHARES | 2.66% |
| NESTLE SA-REGISTERED | 2.62% |
| SERVICENOW INC | 2.52% |
| ELECTRONIC ARTS | 2.50% |
| MICRON TECHNOLOGY INC | 2.44% |
| ADMIRAL GROUP PLC | 2.34% |
Top Ten Investments list is unaudited and excludes cash
| United States | 63.07% | |
| United Kingdom | 9.97% | |
| Switzerland | 6.64% | |
| Ireland | 2.79% | |
| Canada | 2.58% | |
| France | 1.63% | |
| Netherlands | 1.54% | |
| Germany | 1.48% | |
| India | 1.40% | |
| Taiwan | 1.39% | |
| Japan | 1.37% | |
| Bermuda | 1.25% | |
| China | 1.03% | |
| Spain | 0.73% | |
| Sweden | 0.71% | |
| Italy | 0.68% | |
| Australia | 0.65% | |
| Mexico | 0.56% | |
| Brazil | 0.53% |
| Communication Services | 10.33% | |
| Consumer Discretionary | 8.63% | |
| Consumer Staples | 11.32% | |
| Financials | 19.99% | |
| Health Care | 17.86% | |
| Industrials | 10.38% | |
| Information Technology | 15.75% | |
| Materials | 2.18% | |
| Real Estate | 2.99% | |
| Utilities | 0.57% |
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 | $5,175,754.07 |
| AIR LIQUIDE | FR | AI FP | 12,739 | $2,182,856.34 |
| AIRBUS SE | FR | AIR FP | 10,576 | $1,417,990.06 |
| ALCON INC | CH | ALC | 30,593 | $2,181,892.76 |
| ALPHABET INC-CL A | US | GOOGL | 40,011 | $4,964,564.88 |
| AMAZON.COM INC | US | AMZN | 64,219 | $8,546,906.71 |
| APPLIED MATERIALS INC | US | AMAT | 26,079 | $3,451,555.65 |
| ASTRAZENECA | GB | AZN | 66,741 | $4,220,033.43 |
| ATLASSIAN CORP PLC-CLASS A | AU | TEAM | 7,961 | $1,438,075.04 |
| AVANZA BANK HOLDING AB | SE | AZA SS | 92,783 | $1,568,487.89 |
| BAE SYSTEMS PLC | GB | BA/ LN | 194,307 | $2,612,726.22 |
| BIOMARIN PHARMACEUTICAL INC | US | BMRN | 31,452 | $2,561,765.40 |
| BOSTON SCIENTIFIC CORP | US | BSX | 24,662 | $1,262,447.78 |
| CANADIAN NATIONAL RAILWAY CO | CA | CNI | 25,151 | $2,660,472.78 |
| CBOE GLOBAL MARKETS INC | US | CBOE | 27,790 | $4,554,503.10 |
| CELLNEX TELECOM SAU-UNSP ADR | ES | CLLNY | 111,317 | $1,625,228.20 |
| COCA COLA CO/THE | US | KO | 58,844 | $3,324,097.56 |
| CONSTELLATION BRANDS INC-A | US | STZ | 15,439 | $3,615,041.85 |
| COPART INC | US | CPRT | 27,840 | $1,211,596.80 |
| CSX CORP | US | CSX | 20,449 | $610,402.65 |
| CVS HEALTH CORP | US | CVS | 16,864 | $1,163,784.64 |
| DEUTSCHE BOERSE AG | DE | DB1 GR | 19,938 | $3,281,724.25 |
| DIAGEO PLC | GB | DGE LN | 59,592 | $2,253,532.55 |
| DREYFUS GVT CSH MANAGEMENT | US | 9,986,737.01 | $9,986,737.01 | |
| ELECTRONIC ARTS | US | EA | 44,663 | $5,528,832.77 |
| EQUINIX INC | US | EQIX | 4,804 | $3,505,190.56 |
| EVERGY INC | US | EVRG | 25,505 | $1,253,315.70 |
| FINECOBANK SPA | IT | FBK IM | 127,776 | $1,507,328.21 |
| FMC CORP | US | FMC | 49,491 | $2,632,921.20 |
| HALMA PLC | GB | HLMA LN | 92,114 | $2,071,494.51 |
| HDFC BANK LTD-ADR | IN | HDB | 54,842 | $3,101,315.10 |
| HEINEKEN NV | NL | HEIA NA | 37,930 | $3,407,761.93 |
| HUMANA INC | US | HUM | 3,607 | $1,888,949.83 |
| IDEXX LABORATORIES INC | US | IDXX | 5,796 | $2,315,328.12 |
| INTERCONTINENTALEXCHANGE INC | US | ICE | 13,447 | $1,444,745.68 |
| INTUIT INC | US | INTU | 2,261 | $1,119,081.95 |
| INTUITIVE SURGICAL INC | US | ISRG | 5,997 | $1,572,533.34 |
| JOHNSON & JOHNSON | US | JNJ | 29,732 | $4,410,444.88 |
| JP MORGAN CHASE & CO | US | JPM | 13,111 | $1,823,215.66 |
| KEYENCE CORP | JP | 6861 JP | 2,400 | $929,084.92 |
| KIMBERLY CLARK DE MEXICO S.A.B. | MX | KIMBERA MM | 678,200 | $1,242,871.37 |
| L3HARRIS TECHNOLOGIES INC | US | LHX | 20,459 | $3,670,549.19 |
| LONZA GROUP AG -REG | CH | LONN SW | 4,550 | $1,593,428.13 |
| LULULEMON - ADR | CA | LULU | 7,749 | $3,049,076.52 |
| MASCO CORP | US | MAS | 88,334 | $4,601,318.06 |
| MASTERCARD INC-CLASS A | US | MA | 20,873 | $7,855,553.55 |
| MEDTRONIC INC | IE | MDT | 87,445 | $6,170,119.20 |
| MERCADOLIBRE INC | BR | MELI | 939 | $1,165,054.86 |
| META PLATFORMS INC | US | META | 28,079 | $8,459,360.33 |
| MICRON TECHNOLOGY INC | US | MU | 80,858 | $5,406,974.46 |
| MICROSOFT CORP | US | MSFT | 12,515 | $4,231,446.65 |
| MONDELEZ INTERNATIONAL INC | US | MDLZ | 31,904 | $2,112,363.84 |
| MOODY'S CORPORATION | US | MCO | 9,834 | $3,028,872.00 |
| NESTLE SA-REGISTERED | CH | NESN SW | 53,750 | $5,796,334.47 |
| NIKE INC CLASS B | US | NKE | 41,104 | $4,224,258.08 |
| NORTHROP GRUMMAN CORP | US | NOC | 5,295 | $2,496,221.85 |
| NOVARTIS AG- REG | CH | NVS | 54,826 | $5,130,617.08 |
| RENAISSANCERE HOLDINGS LTD | BM | RNR | 12,633 | $2,774,080.47 |
| RENTOKIL INITIAL PLC | GB | RTO LN | 478,265 | $2,435,560.30 |
| S&P GLOBAL INC | US | SPGI | 6,542 | $2,285,186.02 |
| SALESFORCE INC | US | CRM | 19,358 | $3,887,667.14 |
| SBA COMMUNICATIONS CORP | US | SBAC | 14,910 | $3,110,673.30 |
| SERVICENOW INC | US | NOW | 9,580 | $5,574,123.00 |
| SNOWFLAKE INC-CLASS A | US | SNOW | 25,341 | $3,677,739.33 |
| SONY CORP FIRST SECTION | JP | 6758 JP | 25,400 | $2,111,727.71 |
| TAIWAN SEMICONDUCTOR - SP ADR | TW | TSM | 35,579 | $3,070,823.49 |
| TENCENT HOLDINGS LTD | CN | 700 HK | 61,600 | $2,279,739.38 |
| THERMO FISHER SCIENTIFIC INC | US | TMO | 3,679 | $1,636,308.83 |
| UNILEVER PLC - ADR | GB | UL | 69,629 | $3,296,933.15 |
| UNION PAC CORP | US | UNP | 6,085 | $1,263,306.85 |
| UNITEDHEALTH GROUP INC | US | UNH | 2,805 | $1,502,245.80 |
| VERTEX PHARMACEUTICALS INC | US | VRTX | 5,290 | $1,915,561.90 |
| VISA INC - CLASS A SHARES | US | V | 25,046 | $5,888,314.60 |
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.