Collective Investment Trust

Pro-Mix® Extended Term CIT

Investment Objective

To provide long-term capital growth, with capital preservation as a secondary objective.

Investment Strategy

The portfolio is invested in a growth-oriented mix of securities that seeks to earn a good portion of the long-term growth of the stock market with less volatility. Holdings are diversified primarily among various stock investments, as long as stock market valuations are favorable versus long-term bond yields. A substantial portion of the fund may be invested in long-term, fixed income securities.

The fund manager will adjust the investment mix over time to manage risk by continually evaluating individual securities and market conditions to determine the relative attractiveness of each investment. In general, stock exposure will increase when valuations are low and decrease during speculative markets.

May be Appropriate for Investors

  • Who want to be invested in long-term assets without full market risk
  • Who have a reasonably high capital risk tolerance

About Our Risk-Based Funds

Risk-based funds offer professional management and asset allocation through a choice of investment objectives that range from fairly aggressive to fairly conservative. All an investor has to do is determine which objective best suits their current risk tolerance and investment time horizon, then decide when to move to a different objective as their personal situation changes over the years.

Time Horizon & Range of Stock Exposure

Conservative Term Moderate Term Extended Term Maximum Term
0-5 Years 3-10 Years 15+ Years 7-20 Years
5-35% 20-60% 40-70% 70-95%

Generally, the longer your time horizon, the more aggressive your investment objective can be. Greater stock exposure is typically associated with higher return potential and higher capital risk.

Learn more about our Pro-Mix® Series

Daily Price

$17.60

Daily $ Change

$0.14

Daily % Change

0.80%

as of 12/01/2023

CUSIP

302027149

Inception Date

10/15/2013

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

Important Documents

Applications & Forms
Fact Sheet
Annual Report

Performance

As of 10/31/2023

YTD

1.93%

1 Year

4.86%

3 Year

1.72%

5 Year

5.88%

10 Year

4.87%

Inception
(10/15/2013)

6.61%

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 Pro-Mix® CIT Class U units is based on the historical performance of the CIT's oldest unit class. Returns are net of Pro-Mix CIT® Class U expenses.

Expense Ratio

Gross 0.50%
Net 0.49%*

*Reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 10/31/2023

TREASURY NOTES 19.30%
GOVERNMENT AGENCY 9.31%
TREASURY BONDS 5.18%
AMAZON.COM INC 2.58%
MASTERCARD INC-CLASS A 2.10%
ALPHABET INC-CL A 1.96%
META PLATFORMS INC 1.95%
TSY INFL IX N/B 0.12500 01/15/2031 1.85%
MICRON TECHNOLOGY INC 1.81%
COCA COLA CO/THE 1.57%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2023

Bonds
51.34%
Stocks
45.86%
Cash
2.80%

Detailed Asset Class Allocation

As of 10/31/2023

International Equities
12.13%
Small Capitalization
0.51%
Mid Capitalization
4.63%
Large Capitalization
28.60%
Long Term Fixed Income
12.70%
Intermediate Term Fixed Income
38.17%
Short Term Fixed Income
0.46%
Cash
2.80%

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

Security Description Country Ticker Shares/Par Market Value (USD)
ADMIRAL GROUP PLC GB ADM LN 14,596 $433,687.38
ADMIRAL GROUP PLC ADR GB AMIGY 57,539 $1,702,579.01
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 740,000 $624,205.24
AGREE REALTY CORP US ADC 5,045 $282,217.30
AIR LIQUIDE FR AI FP 1,320 $226,184.97
AIRBUS SE FR AIR FP 1,634 $219,080.54
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 78,693.9 $78,445.51
ALCON INC CH ALC 24,128 $1,720,808.96
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 410,000 $315,130.72
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 1,730,000 $1,298,903.98
ALPHABET INC-CL A US GOOGL 42,819 $5,312,981.52
AMAZON.COM INC US AMZN 52,651 $7,007,321.59
AMAZON.COM INC 3.30000 04/13/2027 US 1,400,000 $1,312,170.23
AMERICAN HOMES 4 RENT- A US AMH 3,142 $102,869.08
AMERICAN TOWER REIT INC US AMT 1,817 $323,771.23
AMERICOLD REALTY TRUST US COLD 10,648 $279,190.56
APARTMENT INCOME REIT CO US AIRC 2,646 $77,289.66
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 870,000 $780,070.56
ASTRAZENECA GB AZN 3,781 $239,072.63
ATLASSIAN CORP PLC-CLASS A AU TEAM 887 $160,227.68
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 36,268 $155,092.27
AUTO TRADER GROUP PLC GB AUTO LN 39,860 $301,511.14
AVALONBAY COMMUNITIES INC US AVB 1,631 $270,321.94
AVANZA BANK HOLDING AB SE AZA SS 10,041 $169,742.16
BABS 2021-RM2 A 1.75000 10/25/2061 US 604,650.86 $516,914.21
BAE SYSTEMS PLC GB BA/ LN 31,908 $429,047.17
BAE SYSTEMS PLC -SPON ADR GB BAESY 29,313 $1,597,265.37
BANK OF AMERICA CORP 2.68700 04/22/2032 US 1,330,000 $1,021,633.81
BEIERSDORF AG DE BEI GR 2,172 $285,661.56
BIOMARIN PHARMACEUTICAL INC US BMRN 23,772 $1,936,229.40
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 640,000 $616,667.40
BORR IHC LTD 10.00000 11/15/2028 MUL 285,000 $284,304.96
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 309,824 $280,775.12
CANADIAN NATIONAL RAILWAY CO CA CNI 14,996 $1,586,276.88
CBOE GLOBAL MARKETS INC US CBOE 10,891 $1,784,925.99
CELLNEX TELECOM SA ES CLNX SM 7,816 $229,759.99
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 10,329 $150,803.40
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 1,040,000 $1,009,621.37
CIM 2019-INV1 A1 4.00000 02/25/2049 US 26,271.12 $24,020.76
CITIGROUP INC 1.46200 06/09/2027 US 1,120,000 $985,514.28
CLEANAWAY WASTE MANAGEMENT AU CWY AU 145,449 $207,198.95
COCA COLA CO/THE US KO 75,578 $4,269,401.22
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 850,000 $772,431.86
COMMUNITY HEALTHCARE TRUST I US CHCT 4,984 $142,891.28
COPART INC US CPRT 38,770 $1,687,270.40
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 187,059.53 $150,783.25
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 104,775.3 $84,604.48
CSX CORP US CSX 51,209 $1,528,588.65
DEUTSCHE BOERSE AG DE DB1 GR 2,075 $341,537.66
DEUTSCHE BOERSE AG ADR DE DBOEY 79,453 $1,301,440.14
DIAGEO PLC GB DGE LN 6,630 $250,720.24
DOLLARAMA INC CA DOL CN 1,773 $121,076.69
DREYFUS GVT CSH MANAGEMENT US 7,826,961.77 $7,826,961.77
ELECTRONIC ARTS US EA 29,645 $3,669,754.55
ENDAVA PLC - SPON ADR GB DAVA 2,165 $108,596.40
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 1,800,000 $1,669,223.95
EQUINIX INC US EQIX 1,491 $1,087,893.24
EQUITY COMMONWEALTH US EQC 10,900 $206,446.00
EQUITY LIFESTYLE PROPERTIES US ELS 4,442 $292,283.60
EVERGY INC US EVRG 28,610 $1,405,895.40
EXTRA SPACE STORAGE INC US EXR 2,356 $244,058.04
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 17,859.28 $18,162.04
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 427.97 $424.75
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 65,045.15 $60,426.43
FEDERAL NATL MTG ASSN AL8674 FLT 5.64000 01/01/2049 US 1,216,207.33 $1,211,074.58
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 827,173.87 $691,361.15
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 1,895,467.34 $1,640,851.73
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 1,130,842.68 $963,211.57
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 103,674.49 $93,454.84
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 1,202,507.19 $1,063,907.55
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 219,375.92 $210,481.20
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 1,287,237.37 $1,073,282.42
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 1,258,811.88 $1,090,694.23
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 1,203,992.39 $978,337.28
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 1,237,378.84 $1,140,833.95
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 1,227,626.65 $1,017,156.76
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 266,302.29 $243,326.98
FHLM POOL C91780 4.50000 07/01/2034 US 308,432.98 $296,605.97
FHLM POOL G05906 6.00000 04/01/2040 US 37,204.59 $37,937.22
FHLM POOL K91364 4.50000 11/01/2033 US 39,454.17 $38,125.33
FHLM POOL K92059 4.50000 09/01/2034 US 212,661.82 $204,480.09
FHLM POOL SD8230 4.50000 06/01/2052 US 835,526.89 $746,719.18
FINECOBANK SPA IT FBK IM 23,464 $276,796.50
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 8,368 $123,009.60
FLX 2021-1A A2 3.25000 11/27/2051 US 1,150,000 $995,421.03
FMC CORP US FMC 49,265 $2,620,898.00
FN DS2696 3.00000 12/01/2051 US 1,479,158.17 $1,199,955.48
FN FS4339 MTGE 3.00000 12/01/2050 US 1,980,805.72 $1,619,709.77
FN MA4733 4.50000 09/01/2052 US 1,446,712.07 $1,292,941.81
FN MA4807 MTGE 5.50000 11/01/2052 US 1,010,316.19 $960,149.63
FN MA4868 MTGE 5.00000 01/01/2053 US 1,842,054.11 $1,698,330.21
FN MA4934 MTGE 5.00000 02/01/2043 US 1,843,161.06 $1,725,882.01
FNR 2018-31 KP 3.50000 07/25/2047 US 15,404.75 $14,842.90
FR QG6308 MTG 6.00000 07/01/2053 US 2,855,370.96 $2,783,449.93
FR SD1129 4.00000 08/01/2051 US 1,345,442.5 $1,184,107.57
FREMF 2015-K43 B FLT 3.73151 02/25/2048 US 2,100,000 $2,023,958.08
GETTY REALTY CORP US GTY 3,654 $97,269.48
GLOBANT SA LU GLOB 719 $122,438.51
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 218,532.63 $192,088.27
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 175,000 $153,706.99
GREENIDGE GEN HLD INC US 7,600 $46,132.00
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 585,847.42 $474,299.54
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 480,985.14 $394,307.46
HALMA PLC GB HLMA LN 7,109 $159,869.88
HAWAII ST 2.68200 10/01/2038 US 100,000 $67,868.12
HDFC BANK LTD-ADR IN HDB 5,181 $292,985.55
HEINEKEN NV NL HEIA NA 3,740 $336,014.49
HEINEKEN NV-SPN ADR NL HEINY 69,739 $3,138,255.00
HELIOS TOWERS PLC GB HTWS LN 79,199 $58,286.90
HWIRE 2021-1 A2 2.31100 11/20/2051 US 1,080,000 $943,853.36
IDEXX LABORATORIES INC US IDXX 4,599 $1,837,162.53
IMCD NV NL IMCD NA 1,331 $160,246.49
IMPRL 2021-NQM3 1.59500 11/25/2056 US 561,255.89 $430,262.67
INTERCONTINENTALEXCHANGE INC US ICE 13,869 $1,490,085.36
INTERMEDIATE CAPITAL GROUP GB ICP LN 7,145 $113,755.56
INTUITIVE SURGICAL INC US ISRG 4,628 $1,213,554.16
INVITATION HOMES INC US INVH 9,653 $286,597.57
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 240,000 $231,917.67
JOHNSON & JOHNSON US JNJ 28,125 $4,172,062.50
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 169,923.33 $158,154.42
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 1,910,000 $1,725,439.74
KEYENCE CORP JP 6861 JP 500 $193,559.36
KEYWORDS STUDIOS PLC IE KWS LN 7,482 $118,806.43
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 74,700 $136,895.45
L'OREAL FR OR FP 151 $63,469.94
L3HARRIS TECHNOLOGIES INC US LHX 20,425 $3,664,449.25
LEXINGTON REALTY TRUST US LXP 17,013 $134,572.83
LONZA GROUP AG -REG CH LONN SW 353 $123,622.01
LULULEMON - ADR CA LULU 358 $140,865.84
MARRIOTT VACATIONS WORLD US VAC 725 $65,148.50
MASCO CORP US MAS 53,707 $2,797,597.63
MASTERCARD INC-CLASS A US MA 15,127 $5,693,046.45
MEDTRONIC INC IE MDT 39,529 $2,789,166.24
MERCADOLIBRE INC BR MELI 200 $248,148.00
META PLATFORMS INC US META 17,557 $5,289,397.39
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,500,000 $72,485.49
MICRON TECHNOLOGY INC US MU 73,467 $4,912,738.29
MICROSOFT CORP US MSFT 6,692 $2,262,632.12
MID-AMERICA APARTMENT COMM US MAA 1,138 $134,454.70
MONARCH CASINO & RESORT INC US MCRI 2,038 $122,667.22
MONDELEZ INTERNATIONAL INC US MDLZ 21,193 $1,403,188.53
MOODY'S CORPORATION US MCO 9,085 $2,798,180.00
NAVIENT CORP 6.75000 06/25/2025 US 355,000 $346,622.05
NESTLE S.A. - ADR CH NSRGY 31,363 $3,379,676.88
NESTLE SA-REGISTERED CH NESN SW 3,647 $393,288.03
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 747,565.32 $672,992.99
NIKE INC CLASS B US NKE 11,587 $1,190,795.99
NORTHROP GRUMMAN CORP US NOC 4,891 $2,305,764.13
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 370,000 $37.00
NOVARTIS AG- REG CH NVS 18,410 $1,722,807.80
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 710,000 $704,145.04
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 193,094.98 $171,682.74
NRZT 2015-2A A1 3.75000 08/25/2055 US 320,106.47 $289,209.67
NRZT 2016-4A A1 3.75000 11/25/2056 US 622,950.49 $560,555.96
OASIS 2023-1A 7.00000 02/15/2035 US 486,283.49 $483,857.18
OXFIN 2020-1A A2 3.10100 02/15/2028 US 316,605.27 $305,817.64
OXFIN 2022-1A 3.60200 02/15/2030 US 975,000 $920,926.11
OXFIN 2023-1A A2 6.71600 02/15/2031 US 1,240,000 $1,215,842.32
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 1,500,000 $1,500,229.04
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 753,196.72 $718,519.32
PEAR 2023-1A 7.42000 07/15/2035 US 661,711.17 $653,725.11
PELORUS FUND REIT 7.00000 09/30/2026 US 335,000 $315,606.97
PEPSICO INC 3.90000 07/18/2032 US 1,520,000 $1,349,153.12
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 944,308.02 $691,528.26
PFMT 2021-2 A2A 2.00000 04/25/2051 US 549,419.7 $442,687.48
PHYSICIANS REALTY TRUST US DOC 8,639 $93,819.54
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 160,418.44 $140,454.65
PROLOGIS US PLD 8,858 $892,443.50
PUBLIC STORAGE INC US PSA 1,443 $344,458.53
RCKT 2021-6 A1 2.50000 12/25/2051 US 1,000,803.26 $727,715.19
REALTY INCOME CORP US O 3,354 $158,912.52
RENAISSANCERE HOLDINGS LTD BM RNR 1,307 $287,004.13
RENTOKIL INITIAL PLC GB RTO LN 42,868 $218,304.91
RENTOKIL INITIAL PLC-SP ADR GB RTO 38,157 $976,437.63
REXFORD INDUSTRIAL REALITY IN US REXR 4,198 $181,521.52
S&P GLOBAL INC US SPGI 2,765 $965,842.15
SALESFORCE INC US CRM 7,746 $1,555,629.18
SBA COMMUNICATIONS CORP US SBAC 2,047 $427,065.61
SBA TOWER TRUST 6.59900 01/15/2028 US 1,150,000 $1,147,780.27
SEMT 2013-2 1.87400 02/25/2043 US 110,540.07 $89,518.31
SEMT 2013-6 A2 3.00000 05/25/2043 US 256,531.22 $218,262.02
SEMT 2013-7 A2 3.00000 06/25/2043 US 109,702.27 $93,978.09
SEMT 2013-8 A1 3.00000 06/25/2043 US 133,708.75 $114,000.82
SERVICENOW INC US NOW 5,314 $3,091,950.90
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 2,690,000 $2,050,960.13
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 768,780 $653,985.77
SMB 2020-BA A1A 1.29000 07/15/2053 US 574,128.47 $507,249.59
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 143,513.84 $138,675.87
SONY CORP FIRST SECTION JP 6758 JP 2,600 $216,161.10
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 674,589 $611,793.40
SORT 2020-1 A2 1.99000 07/15/2060 US 547,544.18 $456,312.37
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 1,935,000 $1,620,729.32
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 1,214,371.29 $859,191.82
STAG INDUSTRIAL INC US STAG 2,791 $92,717.02
SUN COMMUNITIES US SUI 3,397 $377,882.28
SYNCHRONOSS TECH US 7,439 $126,834.95
TAH 2017-SFR2 A 2.92800 01/17/2036 US 561,338.44 $556,829.13
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 27,566 $2,379,221.46
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 17,000 $155,201.93
TENCENT HOLDINGS 3.97500 04/11/2029 KY 2,860,000 $2,570,274.39
TENCENT HOLDINGS LTD CN 700 HK 8,400 $310,873.55
TERRENO REALTY CORP US TRNO 3,421 $182,270.88
THERMO FISHER SCIENTIFIC INC US TMO 2,522 $1,121,709.94
TPMT 2016-5 A1 2.50000 10/25/2056 US 104,912.44 $103,635.46
TPMT 2017-1 A1 2.75000 10/25/2056 US 39,503.44 $39,116.74
TPMT 2019-HY1 A1 6.43892 10/25/2048 US 235,695.39 $235,396.83
TREASURY BOND 2.37500 02/15/2042 US 21,178,000 $14,063,515.63
TREASURY NOTE 2.25000 11/15/2027 US 9,250,000 $8,371,250.00
TSY INFL IX N/B 0.12500 01/15/2031 US 5,956,121.5 $5,035,413.10
UDR INC US UDR 5,364 $170,628.84
UNILEVER PLC - ADR GB UL 72,681 $3,441,445.35
UNION PAC CORP US UNP 7,619 $1,581,780.59
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 45,679.72 $42,182.49
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 258,719.64 $229,104.70
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 250,000 $223,004.03
US TEASURY NOTE 1.75000 11/15/2029 US 11,625,000 $9,770,449.22
US TREASURY N/B 0.87500 11/15/2030 US 17,240,000 $13,199,375.00
US TREASURY N/B 1.37500 11/15/2031 US 10,165,000 $7,819,108.59
US TREASURY N/B 3.12500 11/15/2028 US 8,780,000 $8,100,921.88
US TREASURY N/B 4.12500 11/15/2032 US 5,457,000 $5,153,454.38
USRE 2021-1 A1 1.91000 10/20/2061 US 1,225,000 $1,047,462.10
VENTAS INC US VTR 4,152 $176,293.92
VERTEX PHARMACEUTICALS INC US VRTX 5,788 $2,095,892.68
VISA INC - CLASS A SHARES US V 16,024 $3,767,242.40
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 1,170,000 $1,035,790.11
WELLTOWER INC. US WELL 3,052 $255,177.72
WIN 2015-1 A1 3.50000 01/20/2045 US 66,400.28 $56,908.06

Investments will change over time.

A Word About Risk

All investments involve risks, including possible loss of principal. Because the fund invests 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 the fund will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses.

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

$17.60

Daily $ Change

$0.14

Daily % Change

0.80%

as of 12/01/2023

CUSIP

302027149

Inception Date

10/15/2013

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 long-term capital growth, with capital preservation as a secondary objective.

Investment Strategy

The portfolio is invested in a growth-oriented mix of securities that seeks to earn a good portion of the long-term growth of the stock market with less volatility. Holdings are diversified primarily among various stock investments, as long as stock market valuations are favorable versus long-term bond yields. A substantial portion of the fund may be invested in long-term, fixed income securities.

The fund manager will adjust the investment mix over time to manage risk by continually evaluating individual securities and market conditions to determine the relative attractiveness of each investment. In general, stock exposure will increase when valuations are low and decrease during speculative markets.

May be Appropriate for Investors

  • Who want to be invested in long-term assets without full market risk
  • Who have a reasonably high capital risk tolerance

About Our Risk-Based Funds

Risk-based funds offer professional management and asset allocation through a choice of investment objectives that range from fairly aggressive to fairly conservative. All an investor has to do is determine which objective best suits their current risk tolerance and investment time horizon, then decide when to move to a different objective as their personal situation changes over the years.

Time Horizon & Range of Stock Exposure

Conservative Term Moderate Term Extended Term Maximum Term
0-5 Years 3-10 Years 15+ Years 7-20 Years
5-35% 20-60% 40-70% 70-95%

Generally, the longer your time horizon, the more aggressive your investment objective can be. Greater stock exposure is typically associated with higher return potential and higher capital risk.

Learn more about our Pro-Mix® Series

Performance

As of 10/31/2023

YTD

1.93%

1 Year

4.86%

3 Year

1.72%

5 Year

5.88%

10 Year

4.87%

Inception
(10/15/2013)

6.61%

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 Pro-Mix® CIT Class U units is based on the historical performance of the CIT's oldest unit class. Returns are net of Pro-Mix CIT® Class U expenses.

Expense Ratio

Gross 0.50%
Net 0.49%*

*Reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 10/31/2023

TREASURY NOTES 19.30%
GOVERNMENT AGENCY 9.31%
TREASURY BONDS 5.18%
AMAZON.COM INC 2.58%
MASTERCARD INC-CLASS A 2.10%
ALPHABET INC-CL A 1.96%
META PLATFORMS INC 1.95%
TSY INFL IX N/B 0.12500 01/15/2031 1.85%
MICRON TECHNOLOGY INC 1.81%
COCA COLA CO/THE 1.57%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2023

Bonds
51.34%
Stocks
45.86%
Cash
2.80%

Detailed Asset Class Allocation

As of 10/31/2023

International Equities
12.13%
Small Capitalization
0.51%
Mid Capitalization
4.63%
Large Capitalization
28.60%
Long Term Fixed Income
12.70%
Intermediate Term Fixed Income
38.17%
Short Term Fixed Income
0.46%
Cash
2.80%

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

Security Description Country Ticker Shares/Par Market Value (USD)
ADMIRAL GROUP PLC GB ADM LN 14,596 $433,687.38
ADMIRAL GROUP PLC ADR GB AMIGY 57,539 $1,702,579.01
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 740,000 $624,205.24
AGREE REALTY CORP US ADC 5,045 $282,217.30
AIR LIQUIDE FR AI FP 1,320 $226,184.97
AIRBUS SE FR AIR FP 1,634 $219,080.54
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 78,693.9 $78,445.51
ALCON INC CH ALC 24,128 $1,720,808.96
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 410,000 $315,130.72
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 1,730,000 $1,298,903.98
ALPHABET INC-CL A US GOOGL 42,819 $5,312,981.52
AMAZON.COM INC US AMZN 52,651 $7,007,321.59
AMAZON.COM INC 3.30000 04/13/2027 US 1,400,000 $1,312,170.23
AMERICAN HOMES 4 RENT- A US AMH 3,142 $102,869.08
AMERICAN TOWER REIT INC US AMT 1,817 $323,771.23
AMERICOLD REALTY TRUST US COLD 10,648 $279,190.56
APARTMENT INCOME REIT CO US AIRC 2,646 $77,289.66
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 870,000 $780,070.56
ASTRAZENECA GB AZN 3,781 $239,072.63
ATLASSIAN CORP PLC-CLASS A AU TEAM 887 $160,227.68
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 36,268 $155,092.27
AUTO TRADER GROUP PLC GB AUTO LN 39,860 $301,511.14
AVALONBAY COMMUNITIES INC US AVB 1,631 $270,321.94
AVANZA BANK HOLDING AB SE AZA SS 10,041 $169,742.16
BABS 2021-RM2 A 1.75000 10/25/2061 US 604,650.86 $516,914.21
BAE SYSTEMS PLC GB BA/ LN 31,908 $429,047.17
BAE SYSTEMS PLC -SPON ADR GB BAESY 29,313 $1,597,265.37
BANK OF AMERICA CORP 2.68700 04/22/2032 US 1,330,000 $1,021,633.81
BEIERSDORF AG DE BEI GR 2,172 $285,661.56
BIOMARIN PHARMACEUTICAL INC US BMRN 23,772 $1,936,229.40
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 640,000 $616,667.40
BORR IHC LTD 10.00000 11/15/2028 MUL 285,000 $284,304.96
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 309,824 $280,775.12
CANADIAN NATIONAL RAILWAY CO CA CNI 14,996 $1,586,276.88
CBOE GLOBAL MARKETS INC US CBOE 10,891 $1,784,925.99
CELLNEX TELECOM SA ES CLNX SM 7,816 $229,759.99
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 10,329 $150,803.40
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 1,040,000 $1,009,621.37
CIM 2019-INV1 A1 4.00000 02/25/2049 US 26,271.12 $24,020.76
CITIGROUP INC 1.46200 06/09/2027 US 1,120,000 $985,514.28
CLEANAWAY WASTE MANAGEMENT AU CWY AU 145,449 $207,198.95
COCA COLA CO/THE US KO 75,578 $4,269,401.22
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 850,000 $772,431.86
COMMUNITY HEALTHCARE TRUST I US CHCT 4,984 $142,891.28
COPART INC US CPRT 38,770 $1,687,270.40
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 187,059.53 $150,783.25
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 104,775.3 $84,604.48
CSX CORP US CSX 51,209 $1,528,588.65
DEUTSCHE BOERSE AG DE DB1 GR 2,075 $341,537.66
DEUTSCHE BOERSE AG ADR DE DBOEY 79,453 $1,301,440.14
DIAGEO PLC GB DGE LN 6,630 $250,720.24
DOLLARAMA INC CA DOL CN 1,773 $121,076.69
DREYFUS GVT CSH MANAGEMENT US 7,826,961.77 $7,826,961.77
ELECTRONIC ARTS US EA 29,645 $3,669,754.55
ENDAVA PLC - SPON ADR GB DAVA 2,165 $108,596.40
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 1,800,000 $1,669,223.95
EQUINIX INC US EQIX 1,491 $1,087,893.24
EQUITY COMMONWEALTH US EQC 10,900 $206,446.00
EQUITY LIFESTYLE PROPERTIES US ELS 4,442 $292,283.60
EVERGY INC US EVRG 28,610 $1,405,895.40
EXTRA SPACE STORAGE INC US EXR 2,356 $244,058.04
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 17,859.28 $18,162.04
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 427.97 $424.75
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 65,045.15 $60,426.43
FEDERAL NATL MTG ASSN AL8674 FLT 5.64000 01/01/2049 US 1,216,207.33 $1,211,074.58
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 827,173.87 $691,361.15
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 1,895,467.34 $1,640,851.73
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 1,130,842.68 $963,211.57
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 103,674.49 $93,454.84
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 1,202,507.19 $1,063,907.55
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 219,375.92 $210,481.20
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 1,287,237.37 $1,073,282.42
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 1,258,811.88 $1,090,694.23
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 1,203,992.39 $978,337.28
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 1,237,378.84 $1,140,833.95
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 1,227,626.65 $1,017,156.76
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 266,302.29 $243,326.98
FHLM POOL C91780 4.50000 07/01/2034 US 308,432.98 $296,605.97
FHLM POOL G05906 6.00000 04/01/2040 US 37,204.59 $37,937.22
FHLM POOL K91364 4.50000 11/01/2033 US 39,454.17 $38,125.33
FHLM POOL K92059 4.50000 09/01/2034 US 212,661.82 $204,480.09
FHLM POOL SD8230 4.50000 06/01/2052 US 835,526.89 $746,719.18
FINECOBANK SPA IT FBK IM 23,464 $276,796.50
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 8,368 $123,009.60
FLX 2021-1A A2 3.25000 11/27/2051 US 1,150,000 $995,421.03
FMC CORP US FMC 49,265 $2,620,898.00
FN DS2696 3.00000 12/01/2051 US 1,479,158.17 $1,199,955.48
FN FS4339 MTGE 3.00000 12/01/2050 US 1,980,805.72 $1,619,709.77
FN MA4733 4.50000 09/01/2052 US 1,446,712.07 $1,292,941.81
FN MA4807 MTGE 5.50000 11/01/2052 US 1,010,316.19 $960,149.63
FN MA4868 MTGE 5.00000 01/01/2053 US 1,842,054.11 $1,698,330.21
FN MA4934 MTGE 5.00000 02/01/2043 US 1,843,161.06 $1,725,882.01
FNR 2018-31 KP 3.50000 07/25/2047 US 15,404.75 $14,842.90
FR QG6308 MTG 6.00000 07/01/2053 US 2,855,370.96 $2,783,449.93
FR SD1129 4.00000 08/01/2051 US 1,345,442.5 $1,184,107.57
FREMF 2015-K43 B FLT 3.73151 02/25/2048 US 2,100,000 $2,023,958.08
GETTY REALTY CORP US GTY 3,654 $97,269.48
GLOBANT SA LU GLOB 719 $122,438.51
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 218,532.63 $192,088.27
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 175,000 $153,706.99
GREENIDGE GEN HLD INC US 7,600 $46,132.00
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 585,847.42 $474,299.54
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 480,985.14 $394,307.46
HALMA PLC GB HLMA LN 7,109 $159,869.88
HAWAII ST 2.68200 10/01/2038 US 100,000 $67,868.12
HDFC BANK LTD-ADR IN HDB 5,181 $292,985.55
HEINEKEN NV NL HEIA NA 3,740 $336,014.49
HEINEKEN NV-SPN ADR NL HEINY 69,739 $3,138,255.00
HELIOS TOWERS PLC GB HTWS LN 79,199 $58,286.90
HWIRE 2021-1 A2 2.31100 11/20/2051 US 1,080,000 $943,853.36
IDEXX LABORATORIES INC US IDXX 4,599 $1,837,162.53
IMCD NV NL IMCD NA 1,331 $160,246.49
IMPRL 2021-NQM3 1.59500 11/25/2056 US 561,255.89 $430,262.67
INTERCONTINENTALEXCHANGE INC US ICE 13,869 $1,490,085.36
INTERMEDIATE CAPITAL GROUP GB ICP LN 7,145 $113,755.56
INTUITIVE SURGICAL INC US ISRG 4,628 $1,213,554.16
INVITATION HOMES INC US INVH 9,653 $286,597.57
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 240,000 $231,917.67
JOHNSON & JOHNSON US JNJ 28,125 $4,172,062.50
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 169,923.33 $158,154.42
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 1,910,000 $1,725,439.74
KEYENCE CORP JP 6861 JP 500 $193,559.36
KEYWORDS STUDIOS PLC IE KWS LN 7,482 $118,806.43
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 74,700 $136,895.45
L'OREAL FR OR FP 151 $63,469.94
L3HARRIS TECHNOLOGIES INC US LHX 20,425 $3,664,449.25
LEXINGTON REALTY TRUST US LXP 17,013 $134,572.83
LONZA GROUP AG -REG CH LONN SW 353 $123,622.01
LULULEMON - ADR CA LULU 358 $140,865.84
MARRIOTT VACATIONS WORLD US VAC 725 $65,148.50
MASCO CORP US MAS 53,707 $2,797,597.63
MASTERCARD INC-CLASS A US MA 15,127 $5,693,046.45
MEDTRONIC INC IE MDT 39,529 $2,789,166.24
MERCADOLIBRE INC BR MELI 200 $248,148.00
META PLATFORMS INC US META 17,557 $5,289,397.39
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 1,500,000 $72,485.49
MICRON TECHNOLOGY INC US MU 73,467 $4,912,738.29
MICROSOFT CORP US MSFT 6,692 $2,262,632.12
MID-AMERICA APARTMENT COMM US MAA 1,138 $134,454.70
MONARCH CASINO & RESORT INC US MCRI 2,038 $122,667.22
MONDELEZ INTERNATIONAL INC US MDLZ 21,193 $1,403,188.53
MOODY'S CORPORATION US MCO 9,085 $2,798,180.00
NAVIENT CORP 6.75000 06/25/2025 US 355,000 $346,622.05
NESTLE S.A. - ADR CH NSRGY 31,363 $3,379,676.88
NESTLE SA-REGISTERED CH NESN SW 3,647 $393,288.03
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 747,565.32 $672,992.99
NIKE INC CLASS B US NKE 11,587 $1,190,795.99
NORTHROP GRUMMAN CORP US NOC 4,891 $2,305,764.13
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 370,000 $37.00
NOVARTIS AG- REG CH NVS 18,410 $1,722,807.80
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 710,000 $704,145.04
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 193,094.98 $171,682.74
NRZT 2015-2A A1 3.75000 08/25/2055 US 320,106.47 $289,209.67
NRZT 2016-4A A1 3.75000 11/25/2056 US 622,950.49 $560,555.96
OASIS 2023-1A 7.00000 02/15/2035 US 486,283.49 $483,857.18
OXFIN 2020-1A A2 3.10100 02/15/2028 US 316,605.27 $305,817.64
OXFIN 2022-1A 3.60200 02/15/2030 US 975,000 $920,926.11
OXFIN 2023-1A A2 6.71600 02/15/2031 US 1,240,000 $1,215,842.32
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 1,500,000 $1,500,229.04
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 753,196.72 $718,519.32
PEAR 2023-1A 7.42000 07/15/2035 US 661,711.17 $653,725.11
PELORUS FUND REIT 7.00000 09/30/2026 US 335,000 $315,606.97
PEPSICO INC 3.90000 07/18/2032 US 1,520,000 $1,349,153.12
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 944,308.02 $691,528.26
PFMT 2021-2 A2A 2.00000 04/25/2051 US 549,419.7 $442,687.48
PHYSICIANS REALTY TRUST US DOC 8,639 $93,819.54
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 160,418.44 $140,454.65
PROLOGIS US PLD 8,858 $892,443.50
PUBLIC STORAGE INC US PSA 1,443 $344,458.53
RCKT 2021-6 A1 2.50000 12/25/2051 US 1,000,803.26 $727,715.19
REALTY INCOME CORP US O 3,354 $158,912.52
RENAISSANCERE HOLDINGS LTD BM RNR 1,307 $287,004.13
RENTOKIL INITIAL PLC GB RTO LN 42,868 $218,304.91
RENTOKIL INITIAL PLC-SP ADR GB RTO 38,157 $976,437.63
REXFORD INDUSTRIAL REALITY IN US REXR 4,198 $181,521.52
S&P GLOBAL INC US SPGI 2,765 $965,842.15
SALESFORCE INC US CRM 7,746 $1,555,629.18
SBA COMMUNICATIONS CORP US SBAC 2,047 $427,065.61
SBA TOWER TRUST 6.59900 01/15/2028 US 1,150,000 $1,147,780.27
SEMT 2013-2 1.87400 02/25/2043 US 110,540.07 $89,518.31
SEMT 2013-6 A2 3.00000 05/25/2043 US 256,531.22 $218,262.02
SEMT 2013-7 A2 3.00000 06/25/2043 US 109,702.27 $93,978.09
SEMT 2013-8 A1 3.00000 06/25/2043 US 133,708.75 $114,000.82
SERVICENOW INC US NOW 5,314 $3,091,950.90
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 2,690,000 $2,050,960.13
SLAM 2021-1A A MTGE 2.43400 06/15/2046 US 768,780 $653,985.77
SMB 2020-BA A1A 1.29000 07/15/2053 US 574,128.47 $507,249.59
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 143,513.84 $138,675.87
SONY CORP FIRST SECTION JP 6758 JP 2,600 $216,161.10
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 674,589 $611,793.40
SORT 2020-1 A2 1.99000 07/15/2060 US 547,544.18 $456,312.37
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 1,935,000 $1,620,729.32
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 1,214,371.29 $859,191.82
STAG INDUSTRIAL INC US STAG 2,791 $92,717.02
SUN COMMUNITIES US SUI 3,397 $377,882.28
SYNCHRONOSS TECH US 7,439 $126,834.95
TAH 2017-SFR2 A 2.92800 01/17/2036 US 561,338.44 $556,829.13
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 27,566 $2,379,221.46
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 17,000 $155,201.93
TENCENT HOLDINGS 3.97500 04/11/2029 KY 2,860,000 $2,570,274.39
TENCENT HOLDINGS LTD CN 700 HK 8,400 $310,873.55
TERRENO REALTY CORP US TRNO 3,421 $182,270.88
THERMO FISHER SCIENTIFIC INC US TMO 2,522 $1,121,709.94
TPMT 2016-5 A1 2.50000 10/25/2056 US 104,912.44 $103,635.46
TPMT 2017-1 A1 2.75000 10/25/2056 US 39,503.44 $39,116.74
TPMT 2019-HY1 A1 6.43892 10/25/2048 US 235,695.39 $235,396.83
TREASURY BOND 2.37500 02/15/2042 US 21,178,000 $14,063,515.63
TREASURY NOTE 2.25000 11/15/2027 US 9,250,000 $8,371,250.00
TSY INFL IX N/B 0.12500 01/15/2031 US 5,956,121.5 $5,035,413.10
UDR INC US UDR 5,364 $170,628.84
UNILEVER PLC - ADR GB UL 72,681 $3,441,445.35
UNION PAC CORP US UNP 7,619 $1,581,780.59
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 45,679.72 $42,182.49
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 258,719.64 $229,104.70
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 250,000 $223,004.03
US TEASURY NOTE 1.75000 11/15/2029 US 11,625,000 $9,770,449.22
US TREASURY N/B 0.87500 11/15/2030 US 17,240,000 $13,199,375.00
US TREASURY N/B 1.37500 11/15/2031 US 10,165,000 $7,819,108.59
US TREASURY N/B 3.12500 11/15/2028 US 8,780,000 $8,100,921.88
US TREASURY N/B 4.12500 11/15/2032 US 5,457,000 $5,153,454.38
USRE 2021-1 A1 1.91000 10/20/2061 US 1,225,000 $1,047,462.10
VENTAS INC US VTR 4,152 $176,293.92
VERTEX PHARMACEUTICALS INC US VRTX 5,788 $2,095,892.68
VISA INC - CLASS A SHARES US V 16,024 $3,767,242.40
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 1,170,000 $1,035,790.11
WELLTOWER INC. US WELL 3,052 $255,177.72
WIN 2015-1 A1 3.50000 01/20/2045 US 66,400.28 $56,908.06

Investments will change over time.

A Word About Risk

All investments involve risks, including possible loss of principal. Because the fund invests 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 the fund will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses.

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.

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