Investment Objective

To provide capital growth and manage risk for investors planning to retire in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in a balanced mix of securities that seeks a more stable rate of long-term growth than that of the broad stock market. The portfolio is diversified among fixed income securities, primarily with intermediate to long-term maturities, and various stocks. Stock exposure can range from 23% - 63%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2020
  • Who currently have a moderate tolerance for risk and can accept fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$21.14

Daily $ Change

-$0.13

Daily % Change

-0.61%

as of 04/24/2018

CUSIP

563821172

Inception Date

01/06/2005

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

Each Retirement Target CIT Fund seeks to achieve its investment objectives by investing in a combination of other Manning & Napier CIT Funds (the “underlying CIT Funds”) in order to meet its target asset allocations and investment style. The financial statements of the underlying Pro-Mix® CIT Funds should be read in conjunction with the Retirement Target CIT Funds’ financial statements.
Pro-Mix® CIT Fund Annual Report

Annualized Performance

As of 03/31/2018

YTD

-0.51%

1 Year

6.05%

3 Year

2.92%

5 Year

4.47%

10 Year

5.09%

Inception
(---)

---

US Stock Market Cycle (04/01/2000 - 03/31/2018)

6.35%

Performance through the inception date of the Retirement Target CIT Class S Units is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class S expenses. Performance data quoted represents past performance and does not guarantee future results. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.89%
Net 0.89%*

*Includes acquired fund fees and expenses of the underlying collective investment trusts and reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 03/31/2018

TREASURY NOTES 12.98%
GOVERNMENT AGENCY 6.56%
TREASURY BONDS 5.26%
BOOKING HOLDINGS INC 1.68%
QORVO INC 1.47%
ANHEUSER-BUSCH INBEV SA/NV 1.21%
DAVITA INC. 1.17%
FACEBOOK INC -A 1.14%
REGENERON PHARMACEUTICALS INC 1.10%
MEDTRONIC INC 1.03%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2018

Bonds 59.77%
Stocks 38.93%
Cash 1.30%

Detailed Asset Class Allocation

As of 03/31/2018

International Equities 13.17%
Small Capitalization 0.67%
Mid Capitalization 4.85%
Large Capitalization 20.24%
Long Term Fixed Income 18.20%
Intermediate Term Fixed Income 29.30%
Short Term Fixed Income 12.27%
Cash 1.30%

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

March Fund Holdings

As of 03/31/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 69,597.67 $68,727.70
00206REM0 AT&T INC 3.90000 08/14/2027 US 898,289.85 $904,474.17
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 1,834,569.46 $1,802,079.23
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 234,837.47 $242,469.69
004239109 ACADIA REALTY TRUST US AKR 789.95 $19,432.74
0045614 ANTOFAGASTA PLC GB ANTO LN 36,945.29 $477,659.37
0053673 ASHTEAD GROUP PLC GB AHT LN 2,491.24 $67,927.87
00772BAF8 AERCAP IRELAND CAP LTD/A 4.50000 05/15/2021 IE 839,707.18 $860,139.79
008492100 AGREE REALTY CORP US ADC 350.5 $16,837.98
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 28,454.42 $29,592.59
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 105,830.01 $114,428.69
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 353.24 $44,115.59
01609W102 ALIBABA GROUP - ADR CN BABA 7,271.2 $1,334,555.97
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 1,555,644.26 $1,476,469.73
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 65,826.44 $66,813.84
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 49,536.52 $49,598.44
02079K107 ALPHABET INC-CL C US GOOG 724.9 $747,948.42
02079K305 ALPHABET INC-CL A US GOOGL 719.08 $745,783.23
02155FAC9 ALTICE US FINANCE I CORP 5.50000 05/15/2026 US 47,650.9 $46,573.99
023135106 AMAZON.COM INC US AMZN 334.51 $484,146.70
02319V103 AMBEV SA-ADR BR ABEV 251,440.11 $1,827,969.60
0237400 DIAGEO PLC GB DGE LN 51,124.41 $1,729,008.74
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,066.91 $41,204.02
0263494 BAE SYSTEMS PLC GB BA/ LN 2,851.8 $23,332.48
02665T306 AMERICAN HOMES 4 RENT- A US AMH 2,909.05 $58,413.71
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 1,006,349.86 $986,155.33
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 622,704.92 $631,886.82
03027X100 AMERICAN TOWER REIT INC US AMT 2,788.86 $405,332.93
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 38,146.19 $38,629.33
03064D108 AMERICOLD REALTY TRUST US COLD 943.85 $18,008.60
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 1,021,094.48 $979,233.06
03748R101 APARTMENT INVT & MGMT CO -A US AIV 1,270 $51,752.64
0405207 HALMA PLC GB HLMA LN 2,616.92 $43,318.45
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 1,011,905.9 $1,078,695.32
0490656 KERRY GROUP PLC-A IE KYGA LN 653.09 $66,015.76
053484101 AVALONBAY COMMUNITIES INC US AVB 774 $127,291.90
05501U106 AZUL S.A SPONSORED ADR PFD BR AZUL 1,698.45 $59,021.20
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 3,908.25 $25,297.62
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 1,372,366.64 $1,325,977.77
058498106 BALL CORP US BLL 39,215.62 $1,557,252.38
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 577,762.69 $576,626.11
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 16,963.2 $1,375,206.83
09062X103 BIOGEN IDEC INC US BIIB 3,636.02 $995,615.29
09247X101 BLACKROCK INC US BLK 2,117.26 $1,146,964.33
0946580 WEIR GROUP PLC/THE GB WEIR LN 4,823.72 $135,216.42
09627J102 BLUEROCK RESIDENTIAL GROWTH US 1,523.85 $12,952.75
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 1,362,602.94 $1,460,262.98
09857L108 BOOKING HOLDINGS INC US BKNG 1,543.01 $3,210,066.49
101121101 BOSTON PROPERTIES INC US BXP 649.24 $79,998.84
105368203 BRANDYWINE REALTY TRUST US BDN 1,951.48 $30,989.48
110122108 BRISTOL MYERS SQUIBB CO US BMY 12,778.8 $808,259.13
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 829.92 $47,878.00
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 133,708.65 $126,003.03
12591QAR3 COMM 2014-UBS4 A5 3.69400 08/10/2047 US 1,235,129.98 $1,257,893.55
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 972,464.23 $970,033.07
12593GAF9 COMM 2015-PC1 A5 3.90200 07/10/2050 US 651,874.16 $668,508.62
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 1,440,984.98 $1,428,147.10
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 127,541.33 $121,323.69
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 379,753.64 $352,666.57
13321L108 CAMECO CORP CA CCJ 2,229.92 $20,269.99
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 4,752.5 $59,263.62
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 79,011.45 $78,912.68
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 100,958.66 $96,163.12
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 49,536.52 $48,855.39
16412XAD7 CHENIERE CORP CHRISTI HD 7.00000 06/30/2024 US 64,451.3 $71,299.25
165240102 CHESAPEAKE LODGING TRUST US CHSP 1,371.66 $38,145.77
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 991,605.24 $1,501,592.78
19238VAG0 COGECO CABLE INC 4.87500 05/01/2020 CA 30,340.03 $30,415.88
19625JAA1 CAH 2015-1A A 2.91794 07/17/2032 US 359,613.7 $360,747.74
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 3,935.2 $22,115.85
198287203 COLUMBIA PROPERTY TRUST INC US CXP 984.99 $20,152.90
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 2,309.32 $59,441.96
21871N101 CORECIVIC INC US CXW 2,753.08 $53,740.15
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 865,425.18 $992,002.49
222795106 COUSINS PROPERTIES INC US CUZ 9,956.44 $86,421.86
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 51,422.14 $50,136.58
22822V101 CROWN CASTLE INTL CORP US CCI 455.39 $49,914.78
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 268,138.58 $250,527.77
229663109 CUBESMART US CUBE 1,348.85 $38,037.43
23311RAC0 DCP MIDSTREAM OPERATING 9.75000 03/15/2019 US 30,340.03 $32,008.73
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 766.53 $10,763.01
23918K108 DAVITA INC. US DVA 34,026.87 $2,243,731.98
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 85,193.09 $82,343.38
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 9,124.17 $27,924.57
25271C102 DIAMOND OFFSHORE DRILLING US DO 27,921.63 $409,331.11
253868103 DIGITAL REALTY TRUST INC US DLR 974.36 $102,677.77
254683BK0 DCENT 2014-A4 2.12000 12/15/2021 US 61,756.5 $61,426.09
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 23,338.71 $77,731.50
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 117,248.58 $117,834.82
269246401 ETRADE FINANCIAL CORP US ETFC 14,242.32 $789,166.68
269246BP8 E*TRADE FINANCIAL CORP 2.95000 08/24/2022 US 438,227.02 $426,595.32
2715777 QUEBECOR INC -CL B CA QBR/B CN 1,239.67 $23,699.31
277276101 EASTGROUP PROPERTIES US EGP 165.91 $13,713.84
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 611.26 $11,775.82
28140H203 EDUCATION REALTY TRUST INC US EDR 405.17 $13,269.26
28370TAG4 KINDER MORGAN ENER PART 4.30000 05/01/2024 US 839,762.66 $845,612.90
285512109 ELECTRONIC ARTS US EA 10,630.18 $1,288,803.36
2866857 LUNDIN MINING CORP CA LUN CN 70,482.21 $462,277.08
29250NAR6 ENBRIDGE INC 3.70000 07/15/2027 CA 434,796.11 $416,785.75
294429105 EQUIFAX INC US EFX 8,113.39 $955,838.89
29444U700 EQUINIX INC US EQIX 426.42 $178,303.44
294628102 EQUITY COMMONWEALTH US EQC 926.03 $28,401.21
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 501.66 $44,030.79
29476L107 EQUITY RESIDENTIAL US EQR 976.6 $60,177.91
297178105 ESSEX PROPERTY TRUST INC US ESS 175.68 $42,281.45
298736109 EURONET WORLDWIDE INC US EEFT 10,569.43 $834,139.25
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 1,708,601.17 $1,681,856.44
30225T102 EXTRA SPACE STORAGE INC US EXR 672.37 $58,738.57
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 78,108.11 $77,909.24
30286XAN9 FREMF 2015-K43 B FLT 3.73459 02/25/2048 US 860,577.51 $860,188.27
30290HAE8 FREMF 2012-K708 FLT 3.75093 02/25/2045 US 562,559.36 $566,372.28
30291EAE4 FREMF 2013-K712 B FLT 3.36434 05/25/2045 US 277,529.74 $279,121.65
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 41,709,397.76 $161,974.28
30291XAE2 FREMF 2014-K715 B FLT 3.97943 02/25/2046 US 59,555.58 $60,852.52
30303M102 FACEBOOK INC -A US FB 13,696.88 $2,188,623.67
3128M5A91 FHLM POOL G03332 6.00000 10/01/2037 US 18,725.85 $20,964.47
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 10,713.97 $11,767.87
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 41,208.67 $45,196.53
3128M6B98 FHLM POOL G04264 5.50000 04/01/2038 US 139,691.85 $153,253.87
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 6,582.76 $7,213.83
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 54,913.45 $61,571.26
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 59,555.55 $66,836.00
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 101,719.99 $111,582.38
3128M8AW4 FHLM POOL G06021 5.50000 01/01/2040 US 39,962.5 $43,842.53
3128M9C83 FHLM POOL G06995 6.00000 05/01/2040 US 124,108.17 $138,624.82
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 6,020.1 $6,262.64
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 12,128.32 $12,636.13
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 8,362.37 $8,697.11
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 6,442.47 $6,733.73
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 11,412.03 $11,927.02
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 874,630.66 $919,397.56
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 108,888.92 $119,432.43
3128P75P4 FHLM POOL C91754 4.50000 03/01/2034 US 225,148.93 $236,760.23
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 33,077.8 $35,102.53
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 33,712.35 $35,653.84
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 17,754.86 $18,721.42
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 28,000.07 $29,800.00
3132WPDP9 FHLM GOLD POOL FG Q49109 4.00000 07/01/2047 US 427,608.73 $439,464.32
3132XSLZ1 FHLM GOLD POOL FG Q50343 4.00000 08/01/2047 US 465,386.42 $478,163.81
31335ABB3 FHLM POOL G60034 4.50000 02/01/2045 US 1,100,772.88 $1,154,932.30
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 301,163.79 $309,862.23
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 17,916.41 $18,195.46
31371NCJ2 FEDERAL NATL MTG ASSN 256673 5.50000 04/01/2037 US 194,968.38 $213,838.88
3137A2B34 FHMS K009 X1 FLT 1.29512 08/25/2020 US 4,260,528.32 $108,123.26
3137ADTK3 FHMS K014 X1 FLT 1.17939 04/25/2021 US 2,511,964.02 $76,010.78
3137AJMG6 FMHS K016 X1 FLT 1.52075 10/25/2021 US 1,619,320.68 $71,526.20
3137AL6W4 FHMS K706 X1 FLT 1.54720 10/25/2018 US 2,342,722.45 $12,657.03
3137AME78 FHMS K017 X1 FLT 1.34561 12/25/2021 US 993,917.22 $40,428.08
3137AUPF0 FHMS K021 x1 FLT 1.46192 06/25/2022 US 5,798,675.66 $292,730.48
3137B3NB0 FHMS K030 X1 FLT 0.20508 04/25/2023 US 17,719,375.15 $159,692.33
3137B4GZ3 FHMS K032 X1 FLT 0.10903 05/25/2023 US 11,410,258.52 $62,456.33
3137B5KW2 FHMS K035 A2 3.45800 08/25/2023 US 1,482,629.54 $1,520,105.67
3137BT7J4 FHMS KJ10 A2 2.91200 12/25/2023 US 592,771.83 $590,263.64
3137BWVV3 FHMS KJ13 A2 2.86400 08/25/2022 US 108,901.63 $108,913.27
3138ABBY4 FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 96,575.48 $102,090.02
3138ASSD5 FEDERAL NATL MTG ASSN AJ1415 4.50000 09/01/2041 US 53,921.82 $56,993.79
3138EGGZ1 FEDERAL NATL MTG ASSN AL0215 4.50000 04/01/2041 US 57,864.18 $61,210.43
3138EQTZ5 FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 708,819.3 $749,605.45
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.65200 01/01/2049 US 987,201.61 $1,069,584.08
31403DDX4 FEDERAL NATL MTG ASSN 745418 5.50000 04/01/2036 US 237,980.59 $261,515.13
31407EJW4 FEDERAL NATL MTG ASSN 828377 5.50000 06/01/2035 US 12,527.81 $13,768.77
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 246,208 $253,369.68
3140EWG66 FEDERAL NATL MTG ASSN BC2020 3.50000 07/01/2046 US 575,918.41 $577,781.30
3140F2QS2 FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 277,096.25 $277,992.59
3140F9M51 FEDERAL NATL MTG ASSN BD2179 4.00000 07/01/2046 US 612,339.1 $628,820.63
3140FA5G3 FEDERAL NATL MTG ASSN FN BD3546 4.00000 09/01/2047 US 294,486.5 $302,793.04
3140FEXR0 FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 567,601.64 $582,963.55
3140FPGW3 FEDERAL NATL MTG ASSN BE3812 4.00000 12/01/2046 US 597,138.77 $613,361.75
31410FSE6 FEDERAL NATL MTG ASSN 888017 6.00000 11/01/2021 US 9,110.82 $9,469.84
31410FV51 FEDERAL NATL MTG ASSN 888136 6.00000 12/01/2021 US 11,317.71 $11,757.18
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 82,995.07 $85,438.89
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 99,887.84 $102,855.89
31410KGB4 FEDERAL NATL MTG ASSN 889494 5.50000 01/01/2037 US 22,564.13 $24,789.12
31410KJV7 FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 126,837.3 $142,570.95
31410KLD4 FEDERAL NATL MTG ASSN 889624 5.50000 05/01/2038 US 118,540.24 $129,653.17
31411JXP6 FEDERAL NATL MTG ASSN 909786 5.50000 03/01/2037 US 49,099.15 $53,763.93
31412SY41 FEDERAL NATL MTG ASSN 933731 5.50000 04/01/2038 US 103,411.83 $113,101.55
31416BSW9 FEDERAL NATL MTG ASSN 995233 5.50000 10/01/2021 US 4,712.24 $4,813.50
31416BVW5 FEDERAL NATL MTG ASSN 995329 5.50000 12/01/2021 US 56,257.09 $57,832.93
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 293,049.99 $309,605.91
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 256,347.93 $270,749.16
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 362,334.41 $353,717.27
31418MDZ2 FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 69,011.55 $77,500.81
31418MG63 FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 29,325.38 $32,892.66
31418MJC7 FEDERAL NATL MTG ASSN AD0258 5.50000 03/01/2039 US 76,869.87 $84,102.61
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 125,989.06 $138,092.08
31418MQQ8 FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 8,033.79 $8,403.30
31418MSR4 FEDERAL NATL MTG ASSN AD0527 5.50000 06/01/2039 US 57,779.75 $63,249.27
31419BBV6 FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 208,099.46 $220,120.83
31428X106 FEDEX CORPORATION US FDX 4,784.75 $1,148,867.28
32054K103 FIRST INDUSTRIAL REALTY TR US FR 2,046.92 $59,831.56
345605109 FOREST CITY REALTY TRUST - A US FCE/A 1,448.78 $29,352.34
357081AE8 FREMF 2015-K720 B FLT 3.38864 07/25/2022 US 369,212.89 $366,209.57
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 39,597.96 $40,192.34
36143WAN1 GAHR 2015-NRF BFX FLT 3.38216 12/15/2034 US 733,550.37 $734,761.10
36143WAS0 GAHR 2015-NRF DFX FLT 3.38216 12/15/2034 US 308,782.49 $306,669.62
36174X101 GGP INC US GGP 2,093.37 $42,830.33
36223NTR5 GNMA POOL 312960 9.00000 09/15/2021 US 21.41 $21.72
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 17,832.64 $17,625.58
36248EAA3 GSMS 2010-C2 3.84900 12/10/2043 US 22,470.33 $22,792.79
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812578102 SEATTLE GENETICS INC US SGEN 29,271.63 $1,532,077.04
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B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 117,220.84 $92,581.12
B3NB1P2 SUNCOR ENERGY INC CA SU CN 1,185.83 $40,949.77
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 1,020,350.93 $54,967.62
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 141,549.83 $113,383.79
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 1,477,865.09 $79,179.59
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 99,087.65 $76,523.57
B4R2R50 JULIUS BAER CH BAER SW 784.01 $48,249.19
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 209,143.15 $78,749.26
B4X4D29 FLEURY SA BR FLRY3 BZ 5,862.55 $48,335.91
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 257,919.87 $198,335.59
B4YVF56 BRENNTAG AG DE BNR GR 717.59 $42,719.61
B5W0S97 ROYAL BANK OF CANADA 3.77000 03/30/2018 CA 134,872.03 $104,708.89
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 1,981,738.24 $110,732.08
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 3,684.67 $48,141.11
B63QM77 NEXON CO LTD JP 3659 JP 3,927.78 $66,590.36
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 394,139.3 $22,183.89
B7FQV64 RAIA DROGASIL S.A. BR RADL3 BZ 2,071.51 $46,889.74
B7VQL46 FNAC DARTY SA FR FNAC FP 284.82 $30,480.37
BB22L96 KION GROUP AG DE KGX GR 976.29 $91,147.03
BBG00HGG4WB2 BABA US 04/20/18 P175 CN -22 -$6,491.10
BBG00HH5X1Q5 MA US 04/20/18 P160 US -23.96 -$1,748.89
BBG00HJYYS71 REGN US 04/20/18 C360 US -10.62 -$5,206.13
BBG00K1PWX55 LULU US 03/29/18 C90 CA -43.22 -$129.66
BBG00K4117D7 QRVO US 04/20/18 P67.5 US -57 -$7,694.60
BBG00K4BM7W1 UL US 04/20/18 P47.5 GB -80.92 -$404.60
BBG00K5JF822 MDT US 04/06/18 P77.5 IE -50.25 -$1,004.91
BBG00K996BS5 AMZN US 04/27/18 P1350 US -2.74 -$9,871.05
BBG00KCSQKF1 SCHW US 04/20/18 P50.5 US -77.01 -$7,701.31
BDZZRC1 BOLSAS Y MERCADOS ARGENTINOS AR 2,035.71 $40,243.09
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 75,424.68 $72,124.85
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 17,645.23 $31,351.54
BGSH2S6 CVC BRASIL OPERADORA E AGENCIA BR CVCB3 BZ 2,080.43 $38,206.39
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 48,428.09 $48,209.86
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 19,307.84 $1,036,436.46
BNBNSG0 EURONEXT NV NL ENX FP 1,282.7 $94,020.34
BNGN9Z1 FINECOBANK SPA IT FBK IM 8,571.99 $103,175.02
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 737.85 $15,013.87
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 34,254.65 $1,076,921.09
BVRZ8L1 AENA SA ES AENA SM 605.1 $122,015.16
BVSS790 ELIS SA FR ELIS FP 1,303.61 $32,278.50
BYXS699 QIAGEN N.V. NL QIA GR 1,352.02 $43,708.46
BYY8LS2 MAISONS DU MONDE SA FR MDM FP 781.44 $28,540.65
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 21,147.56 $2,325,108.82
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 50,638.87 $48,151.75
BYZFYS3 SPIE SA FR SPIE FP 2,775.96 $61,422.01
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 7,884.99 $48,030.66
BYZR014 AMUNDI SA FR AMUN FP 986.58 $79,229.70
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 1,128.14 $72,473.38
BZ3C3Q4 BANKIA SA ES BKIA SM 8,468.82 $37,990.79
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 92,299.68 $30,949.94
G02602103 AMDOCS LTD GG DOX 1,228.05 $81,935.81
G06242104 ATLASSIAN CORP PLC-CLASS A AU TEAM 472.01 $25,450.71
G3157S106 ENSCO INTERNATIONAL INC US ESV 47,257.54 $207,460.58
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 76,629.67 $79,503.28
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 1,616.5 $39,959.77
G57279104 LUXOFT HOLDING INC CH LXFT 265.28 $10,863.15
G5960L103 MEDTRONIC INC IE MDT 24,581.52 $1,971,929.17
G68707101 PAGSEGURO DIGITAL LTD-CL A BR PAGS 842.79 $32,295.76
G97822103 PERRIGO CO PLC IE PRGO 830.3 $69,197.23
H8817H100 TRANSOCEAN LTD US RIG 71,309.76 $705,966.64
N47279109 INTERXION HOLDING NX NL INXN 1,429.74 $88,801.31
N72482123 QIAGEN N.V. ADR NL QGEN 1,064.79 $34,403.36
USD US DOLLAR US 2,513,528.63 $2,513,528.63

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Extended Term CIT Fund and Manning & Napier Pro-Mix® Moderate Term CIT Fund. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

Daily Price

$21.14

Daily $ Change

-$0.13

Daily % Change

-0.61%

as of 04/24/2018

CUSIP

563821172

Inception Date

01/06/2005

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

Important Documents

Annual Report
Fact Sheet
Applications & Forms

Each Retirement Target CIT Fund seeks to achieve its investment objectives by investing in a combination of other Manning & Napier CIT Funds (the “underlying CIT Funds”) in order to meet its target asset allocations and investment style. The financial statements of the underlying Pro-Mix® CIT Funds should be read in conjunction with the Retirement Target CIT Funds’ financial statements.
Pro-Mix® CIT Fund Annual Report

Investment Objective

To provide capital growth and manage risk for investors planning to retire in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in a balanced mix of securities that seeks a more stable rate of long-term growth than that of the broad stock market. The portfolio is diversified among fixed income securities, primarily with intermediate to long-term maturities, and various stocks. Stock exposure can range from 23% - 63%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2020
  • Who currently have a moderate tolerance for risk and can accept fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Annualized Performance

As of 03/31/2018

YTD

-0.51%

1 Year

6.05%

3 Year

2.92%

5 Year

4.47%

10 Year

5.09%

Inception
(---)

---

US Stock Market Cycle (04/01/2000 - 03/31/2018)

6.35%

Performance through the inception date of the Retirement Target CIT Class S Units is not the past performance of the Retirement Target CIT Fund and is based on historical performance data of the Manning & Napier Pro-Mix® CIT Fund(s) that would have been held according to the Retirement Target CIT Fund’s glide path. The Retirement Target CIT Fund will gradually become more conservative over time. Returns are net of the Class S expenses. Performance data quoted represents past performance and does not guarantee future results. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Expense Ratio

Gross 0.89%
Net 0.89%*

*Includes acquired fund fees and expenses of the underlying collective investment trusts and reflects the Trustee’s contractual agreement to limit fees and voluntary agreement to reimburse certain expenses.

Top Ten Investments

As of 03/31/2018

TREASURY NOTES 12.98%
GOVERNMENT AGENCY 6.56%
TREASURY BONDS 5.26%
BOOKING HOLDINGS INC 1.68%
QORVO INC 1.47%
ANHEUSER-BUSCH INBEV SA/NV 1.21%
DAVITA INC. 1.17%
FACEBOOK INC -A 1.14%
REGENERON PHARMACEUTICALS INC 1.10%
MEDTRONIC INC 1.03%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 03/31/2018

Bonds
59.77%
Stocks
38.93%
Cash
1.30%

Detailed Asset Class Allocation

As of 03/31/2018

International Equities
13.17%
Small Capitalization
0.67%
Mid Capitalization
4.85%
Large Capitalization
20.24%
Long Term Fixed Income
18.20%
Intermediate Term Fixed Income
29.30%
Short Term Fixed Income
12.27%
Cash
1.30%

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

March Fund Holdings

As of 03/31/2018

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 69,597.67 $68,727.70
00206REM0 AT&T INC 3.90000 08/14/2027 US 898,289.85 $904,474.17
00254EML3 SWEDISH EXPORT CREDIT 1.12500 08/28/2019 SE 1,834,569.46 $1,802,079.23
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 234,837.47 $242,469.69
004239109 ACADIA REALTY TRUST US AKR 789.95 $19,432.74
0045614 ANTOFAGASTA PLC GB ANTO LN 36,945.29 $477,659.37
0053673 ASHTEAD GROUP PLC GB AHT LN 2,491.24 $67,927.87
00772BAF8 AERCAP IRELAND CAP LTD/A 4.50000 05/15/2021 IE 839,707.18 $860,139.79
008492100 AGREE REALTY CORP US ADC 350.5 $16,837.98
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 28,454.42 $29,592.59
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 105,830.01 $114,428.69
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 353.24 $44,115.59
01609W102 ALIBABA GROUP - ADR CN BABA 7,271.2 $1,334,555.97
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 1,555,644.26 $1,476,469.73
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 65,826.44 $66,813.84
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 49,536.52 $49,598.44
02079K107 ALPHABET INC-CL C US GOOG 724.9 $747,948.42
02079K305 ALPHABET INC-CL A US GOOGL 719.08 $745,783.23
02155FAC9 ALTICE US FINANCE I CORP 5.50000 05/15/2026 US 47,650.9 $46,573.99
023135106 AMAZON.COM INC US AMZN 334.51 $484,146.70
02319V103 AMBEV SA-ADR BR ABEV 251,440.11 $1,827,969.60
0237400 DIAGEO PLC GB DGE LN 51,124.41 $1,729,008.74
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 1,066.91 $41,204.02
0263494 BAE SYSTEMS PLC GB BA/ LN 2,851.8 $23,332.48
02665T306 AMERICAN HOMES 4 RENT- A US AMH 2,909.05 $58,413.71
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 1,006,349.86 $986,155.33
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 622,704.92 $631,886.82
03027X100 AMERICAN TOWER REIT INC US AMT 2,788.86 $405,332.93
03063NAA5 AMERICOLD LLC TRUST 3.84730 01/14/2029 US 38,146.19 $38,629.33
03064D108 AMERICOLD REALTY TRUST US COLD 943.85 $18,008.60
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 1,021,094.48 $979,233.06
03748R101 APARTMENT INVT & MGMT CO -A US AIV 1,270 $51,752.64
0405207 HALMA PLC GB HLMA LN 2,616.92 $43,318.45
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 1,011,905.9 $1,078,695.32
0490656 KERRY GROUP PLC-A IE KYGA LN 653.09 $66,015.76
053484101 AVALONBAY COMMUNITIES INC US AVB 774 $127,291.90
05501U106 AZUL S.A SPONSORED ADR PFD BR AZUL 1,698.45 $59,021.20
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 3,908.25 $25,297.62
05604LAA0 BWAY 2015-1740 A 2.91700 01/10/2035 US 1,372,366.64 $1,325,977.77
058498106 BALL CORP US BLL 39,215.62 $1,557,252.38
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 577,762.69 $576,626.11
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 16,963.2 $1,375,206.83
09062X103 BIOGEN IDEC INC US BIIB 3,636.02 $995,615.29
09247X101 BLACKROCK INC US BLK 2,117.26 $1,146,964.33
0946580 WEIR GROUP PLC/THE GB WEIR LN 4,823.72 $135,216.42
09627J102 BLUEROCK RESIDENTIAL GROWTH US 1,523.85 $12,952.75
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 1,362,602.94 $1,460,262.98
09857L108 BOOKING HOLDINGS INC US BKNG 1,543.01 $3,210,066.49
101121101 BOSTON PROPERTIES INC US BXP 649.24 $79,998.84
105368203 BRANDYWINE REALTY TRUST US BDN 1,951.48 $30,989.48
110122108 BRISTOL MYERS SQUIBB CO US BMY 12,778.8 $808,259.13
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 829.92 $47,878.00
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 133,708.65 $126,003.03
12591QAR3 COMM 2014-UBS4 A5 3.69400 08/10/2047 US 1,235,129.98 $1,257,893.55
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 972,464.23 $970,033.07
12593GAF9 COMM 2015-PC1 A5 3.90200 07/10/2050 US 651,874.16 $668,508.62
12629NAF2 COMM 2015-DC1 A5 FLT 3.35000 02/10/2048 US 1,440,984.98 $1,428,147.10
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 127,541.33 $121,323.69
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 379,753.64 $352,666.57
13321L108 CAMECO CORP CA CCJ 2,229.92 $20,269.99
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 4,752.5 $59,263.62
149806AA9 CAZ 2015-1A A 2.00000 12/10/2023 US 79,011.45 $78,912.68
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 100,958.66 $96,163.12
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 49,536.52 $48,855.39
16412XAD7 CHENIERE CORP CHRISTI HD 7.00000 06/30/2024 US 64,451.3 $71,299.25
165240102 CHESAPEAKE LODGING TRUST US CHSP 1,371.66 $38,145.77
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 991,605.24 $1,501,592.78
19238VAG0 COGECO CABLE INC 4.87500 05/01/2020 CA 30,340.03 $30,415.88
19625JAA1 CAH 2015-1A A 2.91794 07/17/2032 US 359,613.7 $360,747.74
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 3,935.2 $22,115.85
198287203 COLUMBIA PROPERTY TRUST INC US CXP 984.99 $20,152.90
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 2,309.32 $59,441.96
21871N101 CORECIVIC INC US CXW 2,753.08 $53,740.15
21987BAK4 CODELCO INC 5.62500 09/21/2035 CL 865,425.18 $992,002.49
222795106 COUSINS PROPERTIES INC US CUZ 9,956.44 $86,421.86
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 51,422.14 $50,136.58
22822V101 CROWN CASTLE INTL CORP US CCI 455.39 $49,914.78
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 268,138.58 $250,527.77
229663109 CUBESMART US CUBE 1,348.85 $38,037.43
23311RAC0 DCP MIDSTREAM OPERATING 9.75000 03/15/2019 US 30,340.03 $32,008.73
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 766.53 $10,763.01
23918K108 DAVITA INC. US DVA 34,026.87 $2,243,731.98
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 85,193.09 $82,343.38
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 9,124.17 $27,924.57
25271C102 DIAMOND OFFSHORE DRILLING US DO 27,921.63 $409,331.11
253868103 DIGITAL REALTY TRUST INC US DLR 974.36 $102,677.77
254683BK0 DCENT 2014-A4 2.12000 12/15/2021 US 61,756.5 $61,426.09
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 23,338.71 $77,731.50
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 117,248.58 $117,834.82
269246401 ETRADE FINANCIAL CORP US ETFC 14,242.32 $789,166.68
269246BP8 E*TRADE FINANCIAL CORP 2.95000 08/24/2022 US 438,227.02 $426,595.32
2715777 QUEBECOR INC -CL B CA QBR/B CN 1,239.67 $23,699.31
277276101 EASTGROUP PROPERTIES US EGP 165.91 $13,713.84
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 611.26 $11,775.82
28140H203 EDUCATION REALTY TRUST INC US EDR 405.17 $13,269.26
28370TAG4 KINDER MORGAN ENER PART 4.30000 05/01/2024 US 839,762.66 $845,612.90
285512109 ELECTRONIC ARTS US EA 10,630.18 $1,288,803.36
2866857 LUNDIN MINING CORP CA LUN CN 70,482.21 $462,277.08
29250NAR6 ENBRIDGE INC 3.70000 07/15/2027 CA 434,796.11 $416,785.75
294429105 EQUIFAX INC US EFX 8,113.39 $955,838.89
29444U700 EQUINIX INC US EQIX 426.42 $178,303.44
294628102 EQUITY COMMONWEALTH US EQC 926.03 $28,401.21
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 501.66 $44,030.79
29476L107 EQUITY RESIDENTIAL US EQR 976.6 $60,177.91
297178105 ESSEX PROPERTY TRUST INC US ESS 175.68 $42,281.45
298736109 EURONET WORLDWIDE INC US EEFT 10,569.43 $834,139.25
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 1,708,601.17 $1,681,856.44
30225T102 EXTRA SPACE STORAGE INC US EXR 672.37 $58,738.57
30251JAA9 FDIC 2011-R1 A 2.67200 07/25/2026 US 78,108.11 $77,909.24
30286XAN9 FREMF 2015-K43 B FLT 3.73459 02/25/2048 US 860,577.51 $860,188.27
30290HAE8 FREMF 2012-K708 FLT 3.75093 02/25/2045 US 562,559.36 $566,372.28
30291EAE4 FREMF 2013-K712 B FLT 3.36434 05/25/2045 US 277,529.74 $279,121.65
30291HAA5 FREMF 2013-K28 X2A 0.10000 06/25/2046 US 41,709,397.76 $161,974.28
30291XAE2 FREMF 2014-K715 B FLT 3.97943 02/25/2046 US 59,555.58 $60,852.52
30303M102 FACEBOOK INC -A US FB 13,696.88 $2,188,623.67
3128M5A91 FHLM POOL G03332 6.00000 10/01/2037 US 18,725.85 $20,964.47
3128M5DD9 FHLM POOL G03400 5.50000 03/01/2037 US 10,713.97 $11,767.87
3128M5NM8 FHLM POOL G03696 5.50000 01/01/2038 US 41,208.67 $45,196.53
3128M6B98 FHLM POOL G04264 5.50000 04/01/2038 US 139,691.85 $153,253.87
3128M6NC8 FHLM POOL G04587 5.50000 08/01/2038 US 6,582.76 $7,213.83
3128M73H7 FHLM POOL G05900 6.00000 03/01/2040 US 54,913.45 $61,571.26
3128M73P9 FHLM POOL G05906 6.00000 04/01/2040 US 59,555.55 $66,836.00
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 101,719.99 $111,582.38
3128M8AW4 FHLM POOL G06021 5.50000 01/01/2040 US 39,962.5 $43,842.53
3128M9C83 FHLM POOL G06995 6.00000 05/01/2040 US 124,108.17 $138,624.82
3128MB4Q7 FHLM POOL G13331 5.50000 10/01/2023 US 6,020.1 $6,262.64
3128MBDP9 FHLM POOL G12610 6.00000 03/01/2022 US 12,128.32 $12,636.13
3128MBE45 FHLM POOL G12655 6.00000 05/01/2022 US 8,362.37 $8,697.11
3128MBRH2 FHLM POOL G12988 6.00000 01/01/2023 US 6,442.47 $6,733.73
3128MBUB1 FHLM POOL G13078 6.00000 03/01/2023 US 11,412.03 $11,927.02
3128MJ2U3 FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 874,630.66 $919,397.56
3128MJJT8 FHLM POOL G08273 5.50000 06/01/2038 US 108,888.92 $119,432.43
3128P75P4 FHLM POOL C91754 4.50000 03/01/2034 US 225,148.93 $236,760.23
3128P76G3 FHLM POOL C91771 4.50000 06/01/2034 US 33,077.8 $35,102.53
3128P76R9 FHLM POOL C91780 4.50000 07/01/2034 US 33,712.35 $35,653.84
3132LMMM5 FHLM POOL K91364 4.50000 11/01/2033 US 17,754.86 $18,721.42
3132LNE83 FHLM POOL K92059 4.50000 09/01/2034 US 28,000.07 $29,800.00
3132WPDP9 FHLM GOLD POOL FG Q49109 4.00000 07/01/2047 US 427,608.73 $439,464.32
3132XSLZ1 FHLM GOLD POOL FG Q50343 4.00000 08/01/2047 US 465,386.42 $478,163.81
31335ABB3 FHLM POOL G60034 4.50000 02/01/2045 US 1,100,772.88 $1,154,932.30
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 301,163.79 $309,862.23
31336WBS7 FHLM POOL G11850 5.50000 07/01/2020 US 17,916.41 $18,195.46
31371NCJ2 FEDERAL NATL MTG ASSN 256673 5.50000 04/01/2037 US 194,968.38 $213,838.88
3137A2B34 FHMS K009 X1 FLT 1.29512 08/25/2020 US 4,260,528.32 $108,123.26
3137ADTK3 FHMS K014 X1 FLT 1.17939 04/25/2021 US 2,511,964.02 $76,010.78
3137AJMG6 FMHS K016 X1 FLT 1.52075 10/25/2021 US 1,619,320.68 $71,526.20
3137AL6W4 FHMS K706 X1 FLT 1.54720 10/25/2018 US 2,342,722.45 $12,657.03
3137AME78 FHMS K017 X1 FLT 1.34561 12/25/2021 US 993,917.22 $40,428.08
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912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 119,048 $118,584.45
912828K58 UNITED STATES TREAS NTS 1.37500 04/30/2020 US 5,913,383.89 $5,799,967.02
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96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 645,332.33 $616,961.63
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B1WGG93 GEBERIT AG-REG CH GEBN SW 113.45 $50,169.95
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 848.45 $50,643.00
B1XH026 VINCI SA FR DG FP 1,462.6 $144,058.80
B1Y9TB3 DANONE FR BN FP 672.83 $54,554.95
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 14,154.98 $72,258.49
B1YY4B3 UNIBAIL-RODAMCO SE FR UL NA 353.89 $80,836.56
B232R05 SK INNOVATION CO LTD KR 096770 KS 226.23 $44,965.66
B283W97 CAIXABANK S.A ES CABK SM 15,400.07 $73,422.37
B2B0DG9 RELX PLC GB REL LN 2,126.9 $43,690.42
B2QY968 HYPERMARCAS SA BR HYPE3 BZ 4,633.83 $50,598.82
B3FP8W8 CANADA HOUSING TRUST 4.10000 12/15/2018 CA 117,220.84 $92,581.12
B3NB1P2 SUNCOR ENERGY INC CA SU CN 1,185.83 $40,949.77
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 1,020,350.93 $54,967.62
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 141,549.83 $113,383.79
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 1,477,865.09 $79,179.59
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 99,087.65 $76,523.57
B4R2R50 JULIUS BAER CH BAER SW 784.01 $48,249.19
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 209,143.15 $78,749.26
B4X4D29 FLEURY SA BR FLRY3 BZ 5,862.55 $48,335.91
B4YN9R2 SINGAPORE GOVERNMENT 2.50000 06/01/2019 SG 257,919.87 $198,335.59
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B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 1,981,738.24 $110,732.08
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 3,684.67 $48,141.11
B63QM77 NEXON CO LTD JP 3659 JP 3,927.78 $66,590.36
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 394,139.3 $22,183.89
B7FQV64 RAIA DROGASIL S.A. BR RADL3 BZ 2,071.51 $46,889.74
B7VQL46 FNAC DARTY SA FR FNAC FP 284.82 $30,480.37
BB22L96 KION GROUP AG DE KGX GR 976.29 $91,147.03
BBG00HGG4WB2 BABA US 04/20/18 P175 CN -22 -$6,491.10
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BBG00HJYYS71 REGN US 04/20/18 C360 US -10.62 -$5,206.13
BBG00K1PWX55 LULU US 03/29/18 C90 CA -43.22 -$129.66
BBG00K4117D7 QRVO US 04/20/18 P67.5 US -57 -$7,694.60
BBG00K4BM7W1 UL US 04/20/18 P47.5 GB -80.92 -$404.60
BBG00K5JF822 MDT US 04/06/18 P77.5 IE -50.25 -$1,004.91
BBG00K996BS5 AMZN US 04/27/18 P1350 US -2.74 -$9,871.05
BBG00KCSQKF1 SCHW US 04/20/18 P50.5 US -77.01 -$7,701.31
BDZZRC1 BOLSAS Y MERCADOS ARGENTINOS AR 2,035.71 $40,243.09
BF955D8 TELENET FINANCE LUX NOTE 5.50000 03/01/2028 LU 75,424.68 $72,124.85
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 17,645.23 $31,351.54
BGSH2S6 CVC BRASIL OPERADORA E AGENCIA BR CVCB3 BZ 2,080.43 $38,206.39
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 48,428.09 $48,209.86
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 19,307.84 $1,036,436.46
BNBNSG0 EURONEXT NV NL ENX FP 1,282.7 $94,020.34
BNGN9Z1 FINECOBANK SPA IT FBK IM 8,571.99 $103,175.02
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 737.85 $15,013.87
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 34,254.65 $1,076,921.09
BVRZ8L1 AENA SA ES AENA SM 605.1 $122,015.16
BVSS790 ELIS SA FR ELIS FP 1,303.61 $32,278.50
BYXS699 QIAGEN N.V. NL QIA GR 1,352.02 $43,708.46
BYY8LS2 MAISONS DU MONDE SA FR MDM FP 781.44 $28,540.65
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 21,147.56 $2,325,108.82
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 50,638.87 $48,151.75
BYZFYS3 SPIE SA FR SPIE FP 2,775.96 $61,422.01
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 7,884.99 $48,030.66
BYZR014 AMUNDI SA FR AMUN FP 986.58 $79,229.70
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 1,128.14 $72,473.38
BZ3C3Q4 BANKIA SA ES BKIA SM 8,468.82 $37,990.79
BZCNN35 BANCO COMERCIAL PORTUGUES-R PT BCP PL 92,299.68 $30,949.94
G02602103 AMDOCS LTD GG DOX 1,228.05 $81,935.81
G06242104 ATLASSIAN CORP PLC-CLASS A AU TEAM 472.01 $25,450.71
G3157S106 ENSCO INTERNATIONAL INC US ESV 47,257.54 $207,460.58
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 76,629.67 $79,503.28
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 1,616.5 $39,959.77
G57279104 LUXOFT HOLDING INC CH LXFT 265.28 $10,863.15
G5960L103 MEDTRONIC INC IE MDT 24,581.52 $1,971,929.17
G68707101 PAGSEGURO DIGITAL LTD-CL A BR PAGS 842.79 $32,295.76
G97822103 PERRIGO CO PLC IE PRGO 830.3 $69,197.23
H8817H100 TRANSOCEAN LTD US RIG 71,309.76 $705,966.64
N47279109 INTERXION HOLDING NX NL INXN 1,429.74 $88,801.31
N72482123 QIAGEN N.V. ADR NL QGEN 1,064.79 $34,403.36
USD US DOLLAR US 2,513,528.63 $2,513,528.63

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Extended Term CIT Fund and Manning & Napier Pro-Mix® Moderate Term CIT Fund. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

A Word About Risk

Each Manning & Napier Retirement Target CIT Fund is invested in one or two of four proprietary risk-based funds, the Manning & Napier Pro-Mix® CIT Funds, based on the Retirement Target CIT Fund becoming increasingly conservative over time. Because the underlying funds invest 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 target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and small-cap/mid-cap risk, as the underlying investments change over time. 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. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals).

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 45 years of experience managing life cycle 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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