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 an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets, with only a minor portion of the portfolio invested in fixed income securities. Stock exposure can range from 70% - 95%.

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 2050
  • Who generally have time to withstand market volatility and can accept very significant 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.

Learn more about our Glide Range SM

Daily Price

$18.72

Daily $ Change

-$0.02

Daily % Change

-0.11%

as of 01/18/2018

CUSIP

302027552

Inception Date

05/31/2007

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 12/31/2017

YTD

---

1 Year

23.91%

3 Year

7.58%

5 Year

10.55%

10 Year

6.27%

Inception
(---)

---

US Stock Market Cycle (04/01/2000 - 12/31/2017)

7.71%

Performance through 06/04/2012 reflects the performance of the Retirement Target Institutional CIT Fund, which was merged into the Retirement Target CIT Fund on 06/04/2012 to establish the Class I units. Performance through the Institutional CIT Fund inception date (05/31/2007) 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. Returns are net of the Class I expenses. The Retirement Target CIT Fund will gradually become more conservative over time. 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 0.69%
Net 0.69%*

*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 12/31/2017

TREASURY NOTES 4.34%
SERVICENOW INC 2.67%
FACEBOOK INC -A 2.42%
DAVITA INC. 2.12%
MEDTRONIC INC 2.06%
O'REILLY AUTOMOTIVE INC 1.88%
PRICELINE GROUP INC 1.85%
ARCONIC INC. 1.60%
PERRIGO CO PLC 1.56%
DIAGEO PLC 1.52%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 12/31/2017

Stocks 88.37%
Bonds 10.69%
Cash 0.94%

Detailed Asset Class Allocation

As of 12/31/2017

International Equities 28.09%
Small Capitalization 1.02%
Mid Capitalization 11.10%
Large Capitalization 48.16%
Long Term Fixed Income 1.88%
Intermediate Term Fixed Income 8.16%
Short Term Fixed Income 0.65%
Cash 0.94%

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

December Fund Holdings

As of 12/31/2017

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 11,726.29 $11,418.47
00206REM0 AT&T INC 3.90000 08/14/2027 US 62,540.21 $62,958.09
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 39,087.63 $41,188.59
004239109 ACADIA REALTY TRUST US AKR 179.8 $4,919.41
0045614 ANTOFAGASTA PLC GB ANTO LN 16,701.36 $225,402.58
00507VAM1 ACTIVISION BLIZZARD 3.40000 06/15/2027 US 68,012.48 $68,491.01
0053673 ASHTEAD GROUP PLC GB AHT LN 1,103.05 $29,585.44
00724F101 ADOBE SYS INC US ADBE 5,463.67 $957,453.39
00772BAF8 AERCAP IRELAND CAP LTD/A 4.50000 05/15/2021 IE 67,230.73 $70,606.97
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 7,992.01 $191,328.80
008492100 AGREE REALTY CORP US ADC 79.74 $4,101.76
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 5,472.27 $5,773.24
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 20,325.57 $21,545.10
013093AD1 ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 US 2,345.26 $2,115.42
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 146.97 $19,192.75
01609W102 ALIBABA GROUP - ADR CN BABA 394 $67,937.99
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 50,032.17 $50,019.55
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 10,944.54 $11,231.83
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 6,254.02 $6,285.29
02079K107 ALPHABET INC-CL C US GOOG 378.37 $395,924.56
02079K305 ALPHABET INC-CL A US GOOGL 375.24 $395,279.15
023135106 AMAZON.COM INC US AMZN 735.63 $860,296.32
023135BA3 AMAZON.COM INC 3.15000 08/22/2027 US 31,270.11 $31,317.23
02319V103 AMBEV SA-ADR BR ABEV 162,716.34 $1,051,147.55
0237400 DIAGEO PLC GB DGE LN 31,017.6 $1,136,927.94
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 10,162.78 $10,442.26
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 177.46 $7,281.10
02665T306 AMERICAN HOMES 4 RENT- A US AMH 659.8 $14,410.02
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 45,341.65 $47,908.13
03027X100 AMERICAN TOWER REIT INC US AMT 5,630.18 $803,258.14
03027XAH3 AMERICAN TOWER CORP 3.30000 02/15/2021 US 62,540.21 $63,686.93
03040WAQ8 AMERICAN WATER CAPITAL C 2.95000 09/01/2027 US 64,103.72 $63,440.95
034863AB6 ANGLO AMERICAN CAPITAL 9.37500 04/08/2019 GB 7,035.77 $7,629.13
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 63,321.96 $62,898.92
03523TBF4 ANHEUSER-BUSCH INBEV WOR 8.20000 01/15/2039 US 39,087.63 $62,164.07
03748R101 APARTMENT INVT & MGMT CO -A US AIV 366.64 $16,025.92
038222AL9 APPLIED MATERIALS INC 3.30000 04/01/2027 US 62,540.21 $63,609.56
03938LAQ7 ARCELORMITTAL 5.75000 08/05/2020 LU 2,345.26 $2,474.25
03965L100 ARCONIC INC. US ARNC 43,972.02 $1,198,237.61
0405207 HALMA PLC GB HLMA LN 997.52 $16,948.92
044186104 ASHLAND GLOBAL HOLDINGS INC US ASH 7,149.91 $509,073.57
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 71,921.24 $77,488.37
0490656 KERRY GROUP PLC-A IE KYGA LN 204.04 $22,945.88
053332102 AUTOZONE INC US AZO 1,522.07 $1,082,756.63
053484101 AVALONBAY COMMUNITIES INC US AVB 111.79 $19,944.57
05501U106 AZUL S.A SPONSORED ADR PFD BR AZUL 647.29 $15,424.95
05565QCS5 BP CAPITAL MARKETS PLC 3.53500 11/04/2024 GB 60,976.71 $63,353.03
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 1,990.34 $12,528.90
058498106 BALL CORP US BLL 12,891.88 $487,957.76
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 45,341.65 $47,171.72
06739FFU0 BARCLAYS BANK PLC 10.17900 06/12/2021 GB 31,270.11 $38,109.90
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 12,590.13 $1,122,661.56
09062X103 BIOGEN IDEC INC US BIIB 2,063.05 $657,224.31
09247X101 BLACKROCK INC US BLK 1,395.43 $716,845.55
0946580 WEIR GROUP PLC/THE GB WEIR LN 2,246.76 $64,400.20
09627J102 BLUEROCK RESIDENTIAL GROWTH US 345.53 $3,493.36
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 45,341.65 $50,576.38
101121101 BOSTON PROPERTIES INC US BXP 147.75 $19,212.09
105368203 BRANDYWINE REALTY TRUST US BDN 442.47 $8,048.57
110122108 BRISTOL MYERS SQUIBB CO US BMY 10,956.26 $671,399.81
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 265.8 $17,805.67
11120U105 BRIXMOR PROPERTY GROUP INC US BRX 177.46 $3,311.36
12467AAD0 C&S GROUP ENTERPRISES 5.37500 07/15/2022 US 21,107.32 $19,893.65
12508E101 CDK GLOBAL INC US CDK 7,339.09 $523,130.60
125269100 CF INDUSTRIES HOLDINGS INC US CF 19,317.89 $821,783.02
12527GAB9 CF INDUSTRIES INC 7.12500 05/01/2020 US 2,345.26 $2,557.03
126307AH0 CSC HOLDINGS LLC 5.25000 06/01/2024 US 20,325.57 $20,020.69
133131102 CAMDEN PROPERTY TRUST US CPT 92.25 $8,492.24
13321L108 CAMECO CORP CA CCJ 1,139.33 $10,515.98
134429109 CAMPBELL SOUP CO US CPB 21,627.97 $1,040,521.56
14912Y202 CATCHMARK TIMBER TRUST INC US CTT 855.24 $11,229.27
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 19,543.82 $19,641.54
156700BA3 CENTURYLINK INC 7.50000 04/01/2024 US 9,381.03 $9,357.58
161175BB9 CHARTER COMM OPT LLC/CAP 4.46400 07/23/2022 US 4,690.52 $4,893.84
16411QAA9 CHENIERE ENERGY PARTNERS 5.25000 10/01/2025 US 14,853.3 $15,113.23
16412XAD7 CHENIERE CORP CHRISTI HD 7.00000 06/30/2024 US 11,726.29 $13,345.98
165240102 CHESAPEAKE LODGING TRUST US CHSP 311.14 $8,428.72
172967JL6 CITIGROUP INC 3.87500 03/26/2025 US 60,976.71 $62,418.72
191216100 COCA COLA CO/THE US KO 16,606.77 $761,918.67
19625W104 COLONY NORTHSTAR INC-CLASS A US CLNS 1,050.21 $11,982.86
198287203 COLUMBIA PROPERTY TRUST INC US CXP 232.96 $5,346.48
20030NBP5 COMCAST CORP 4.40000 08/15/2035 US 28,143.1 $30,768.69
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 672.31 $18,891.83
21871N101 CORECIVIC INC US CXW 625.4 $14,071.55
21987BAW8 CODELCO INC 3.62500 08/01/2027 CL 64,103.72 $64,173.59
222795106 COUSINS PROPERTIES INC US CUZ 1,360.25 $12,582.31
22663AAA7 ORTHO-CLINICAL DIAGNOSTI 6.62500 05/15/2022 US 10,162.78 $10,213.60
22822V101 CROWN CASTLE INTL CORP US CCI 123.52 $13,711.61
229663109 CUBESMART US CUBE 606.64 $17,544.03
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 17,333.02 $242,827.74
23918K108 DAVITA INC. US DVA 21,996.17 $1,589,223.57
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 14,853.3 $14,848.84
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 4,627.98 $11,455.49
25271C102 DIAMOND OFFSHORE DRILLING US DO 16,374.59 $304,403.64
253393102 DICK'S SPORTING GOODS INC US DKS 25,040.32 $719,658.76
253868103 DIGITAL REALTY TRUST INC US DLR 154.79 $17,630.24
25470DAR0 DISCOVERY COMMUNICATIONS 3.95000 03/20/2028 US 48,468.66 $48,209.63
25470XAJ4 DISH DBS CORP 5.87500 07/15/2022 US 4,690.52 $4,713.97
256677AC9 DOLLAR GENERAL CORP 3.25000 04/15/2023 US 31,270.11 $31,691.80
257559AH7 DOMTAR CORP 4.40000 04/01/2022 US 31,270.11 $32,897.09
2643674 GRUPO MEXICO SAB DE CV-SER MX GMEXICOB MM 11,290.07 $37,282.36
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 20,325.57 $20,478.01
26884U109 ENTERTAINMENT PROPERTIES TR US EPR 57.07 $3,735.67
269246401 ETRADE FINANCIAL CORP US ETFC 16,843.64 $834,939.35
269246BP8 E*TRADE FINANCIAL CORP 2.95000 08/24/2022 US 31,270.11 $31,006.13
2715777 QUEBECOR INC -CL B CA QBR/B CN 13,740.08 $259,061.26
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 11,788.05 $269,052.58
28140H203 EDUCATION REALTY TRUST INC US EDR 109.13 $3,810.91
28370TAG4 KINDER MORGAN ENER PART 4.30000 05/01/2024 US 66,136.27 $68,858.29
285512109 ELECTRONIC ARTS US EA 7,457.14 $783,446.96
2866857 LUNDIN MINING CORP CA LUN CN 28,646.54 $190,521.17
29250NAR6 ENBRIDGE INC 3.70000 07/15/2027 CA 31,270.11 $31,401.95
29413XAB3 ENVIVA PARTNERS LP /FIN C 8.50000 11/01/2021 US 15,635.05 $16,651.33
294429105 EQUIFAX INC US EFX 4,588.89 $541,121.67
29444U700 EQUINIX INC US EQIX 86.77 $39,327.96
294628102 EQUITY COMMONWEALTH US EQC 258.76 $7,894.77
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 75.83 $6,750.39
29476L107 EQUITY RESIDENTIAL US EQR 221.24 $14,108.22
297178105 ESSEX PROPERTY TRUST INC US ESS 15.64 $3,773.83
298736109 EURONET WORLDWIDE INC US EEFT 5,473.05 $461,213.94
30219G108 EXPRESS SCRIPTS HOLDING CO US ESRX 5,520.74 $412,067.82
30219GAK4 EXPRESS SCRIPTS HOLDING 3.50000 06/15/2024 US 46,905.16 $47,320.04
30225T102 EXTRA SPACE STORAGE INC US EXR 152.44 $13,331.03
30303M102 FACEBOOK INC -A US FB 10,269.88 $1,812,223.80
31428X106 FEDEX CORPORATION US FDX 3,168.44 $790,653.38
32054K103 FIRST INDUSTRIAL REALTY TR US FR 371.33 $11,685.83
345605109 FOREST CITY REALTY TRUST - A US FCE/A 329.12 $7,931.74
35671D857 FREEPORT-MCMORAN INC US FCX 42,859.59 $812,617.80
35671DBH7 FREEPORT-MCMORAN INC 4.00000 11/14/2021 US 2,345.26 $2,345.26
35802XAA1 FRESENIUS MED CARE US 6.50000 09/15/2018 US 6,254.02 $6,448.58
36174X101 GGP INC US GGP 577.72 $13,512.76
371559105 GENESEE & WYOMING INC -CL A US GWR 6,831.74 $537,862.60
374297109 GETTY REALTY CORP US GTY 217.33 $5,902.61
37950E366 GLOBAL X MSCI GREECE ETF GR 2,460.18 $25,290.60
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 21,107.32 $21,819.69
37954A204 GLOBAL MEDICAL REIT INC US GMRE 990.48 $8,121.94
38141GVR2 GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 US 29,706.6 $31,047.26
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 10,162.78 $10,467.67
399909100 GRUPO FINANCIERO GALICIA-ADR AR GGAL 361.17 $23,783.03
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 57.07 $5,864.30
40054A108 GRUPO SUPERVIELLE SA-SP ADR AR SUPV 623.84 $18,290.95
404119BM0 HCA INC 3.75000 03/15/2019 US 4,690.52 $4,731.56
40412CAC5 HCA HEALTHCARE INC 6.25000 02/15/2021 US 4,690.52 $4,971.95
40414L109 HCP INC US HCP 593.35 $15,474.57
410345AL6 HANESBRANDS INC 4.87500 05/15/2026 US 9,381.03 $9,615.56
4116099 BPER BANCA IT BPE IM 3,180.95 $16,024.50
4162791 THALES SA FR HO FP 218.89 $23,556.91
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 304.88 $9,158.70
431318AQ7 HILCORP ENERGY I/HILCORP 5.75000 10/01/2025 US 10,944.54 $11,190.79
431475AB8 HILL-ROM HOLDINGS INC 5.00000 02/15/2025 US 14,071.55 $14,348.76
44107P104 HOST MARRIOTT CORP US HST 385.4 $7,650.27
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 20,325.57 $20,732.08
4457624 TRIGANO SA FR TRI FP 150.88 $26,648.81
4497749 KBC GROEP NV BE KBC BB 301.76 $25,713.63
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 15,635.05 $15,732.77
45337C102 INCYTE CORP US INCY 6,323.6 $598,907.88
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 562.08 $5,671.39
4571784 NH HOTEL GROUP SA ES NHH SM 1,998.94 $14,390.54
45763PAE6 INMARSAT FINANCE PLC 4.87500 05/15/2022 GB 20,325.57 $20,274.75
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 10,162.78 $10,649.63
46115HAL1 INTESA SANPAOLO SPA 3.87500 01/15/2019 IT 35,960.62 $36,440.39
46120E602 INTUITIVE SURGICAL INC US ISRG 1,252.37 $457,039.08
46187W107 INVITATION HOMES INC US INVH 566.3 $13,347.73
464286608 ISHARES MSCI EMU XX 1,501.75 $65,145.78
46434G798 ISHARES MSCI RUSSIA CAPPED E RU 472.18 $15,827.43
46647PAE6 JPMORGAN CHASE & CO 2.77600 04/25/2023 US 62,540.21 $62,600.83
478160104 JOHNSON & JOHNSON US JNJ 6,732.45 $940,658.43
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 19,543.82 $19,690.39
4813345 SKANDINAVISKA ENSKILDA BAN-A SE SEBA SS 1,342.27 $15,761.45
4821100 SOLVAY SA BE SOLB BB 232.18 $32,281.48
4846523 SWEDBANK AB-A SHARES SE SWEDA SS 658.24 $15,879.80
497864AA6 KISSNER GR HLDG 8.37500 12/01/2022 CA 16,416.81 $16,580.97
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 13,289.79 $13,522.37
505742AD8 LADDER CAP FIN LLLP/CORP 5.87500 08/01/2021 US 15,635.05 $16,104.10
5107401 BEIERSDORF AG DE BEI GR 5,984.32 $701,558.21
512816109 LAMAR ADVERTISING CO US LAMR 100.85 $7,486.81
5129074 FRESENIUS MEDICAL DE FME GR 10,594.94 $1,112,568.50
517942108 LASALLE HOTEL PROPERTIES US LHO 183.71 $5,156.79
5228658 RANDSTAD HOLDING NV NL RAND NA 481.56 $29,547.96
5289837 ERSTE GROUP BANK AG AT EBS AV 394 $17,074.32
53223X107 LIFE STORAGE INC US LSI 88.34 $7,868.27
5330047 DASSAULT SYSTEMES SA FR DSY FP 309.57 $32,870.26
539439AM1 LLOYDS BANKING GROUP PLC 4.58200 12/10/2025 GB 67,543.43 $70,822.76
54150E104 LOMA NEGRA CIA IND-SPON ADR AR LOMA 764.55 $17,615.33
5458314 AKZO NOBEL NL AKZA NA 7,650.23 $671,268.89
550021109 LULULEMON - ADR CA LULU 10,625.89 $835,089.05
554382101 THE MACERICH CO US MAC 114.14 $7,496.44
5545670 JUNGHEINRICH AG DE JUN3 GR 551.92 $25,949.05
559222AR5 MAGNA INTERNATIONAL INC 4.15000 10/01/2025 CA 47,843.26 $50,846.01
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 16,416.81 $15,924.30
5633616 SOPRA STERIA GROUP FR SOP FP 176.68 $33,016.88
5669354 REPSOL SA ES REP SM 1,326.63 $23,423.58
5699373 WIENERBERGER AG AT WIE AV 1,317.25 $31,880.34
5713422 METSO OYJ FI METSO FH 623.84 $21,282.33
5727973 SIEMENS AG-REG DE SIE GR 456.54 $63,211.79
57636Q104 MASTERCARD INC-CLASS A US MA 6,594.87 $998,198.80
580037AB5 MCDERMOTT INTERNATIONAL 8.00000 05/01/2021 PA 14,853.3 $15,266.96
5852842 ACCOR SA FR AC FP 844.61 $43,480.15
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 10,944.54 $11,136.07
594918104 MICROSOFT CORP US MSFT 8,016.87 $685,763.34
59522J103 MID-AMERICA APARTMENT COMM US MAA 132.12 $13,285.60
6174467X1 MORGAN STANLEY 5.00000 11/24/2025 US 43,778.15 $47,903.88
61744YAG3 MORGAN STANLEY FLT 2.61703 05/08/2024 US 46,905.16 $47,891.51
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 9,381.03 $9,275.50
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 21,889.07 $16,032.29
62944TAE5 NVR INC 3.95000 09/15/2022 US 50,032.17 $52,229.43
6356934 FANUC LTD JP 6954 JP 110.54 $26,518.11
637417106 NATIONAL RETAIL PROPERTIES US NNN 201.69 $8,698.98
64110W102 NETEASE.COM INC- ADR CN NTES 36.74 $12,678.69
6429104 HITACHI LTD FIRST SECTION JP 6501 JP 5,315.92 $41,241.96
6474494 JOLLIBEE FOODS CORP PH JFC PM 5,049.34 $25,590.61
6474535 JAPAN TOBACCO INC JP 2914 JP 1,141.36 $36,755.31
6490995 KEYENCE CORP JP 6861 JP 109.45 $61,139.62
654106103 NIKE INC CLASS B US NKE 11,270.53 $704,971.51
6630940 CHINA EVERBRIGHT INTL LTD HK 257 HK 21,576.37 $30,781.84
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 25,797.84 $26,636.27
66977WAQ2 NOVA CHEMICALS CORP 4.87500 06/01/2024 CA 10,162.78 $10,137.38
66987V109 NOVARTIS AG- REG CH NVS 12,510.39 $1,050,372.13
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 5,852.98 $1,407,876.29
69007J106 OUTFRONT MEDIA INC US OUT 286.12 $6,638.02
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 12,508.04 $12,914.55
69318FAG3 PBF HOLDING CO LLC 7.25000 06/15/2025 US 14,853.3 $15,595.97
697660207 PAMPA ENERGIA SA AR PAM 366.64 $24,667.67
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 7,817.53 $7,465.74
7110902 TECAN GROUP AG-REG CH TECN SW 76.61 $15,911.19
7123870 NESTLE SA-REGISTERED CH NESN SW 8,133.35 $699,275.43
713448CX4 PEPSICO INC 3.10000 07/17/2022 US 31,270.11 $32,019.33
7147892 TEMENOS GROUP AG-REG CH TEMN SW 111.01 $14,205.89
71654QCB6 PETROLEOS MEXICANOS 6.87500 08/04/2026 MX 28,143.1 $31,907.23
71943U104 PHYSICIANS REALTY TRUST US DOC 809.11 $14,555.96
7262610 CREDIT AGRICOLE SA FR ACA FP 1,432.17 $23,648.00
729640102 PLYMOUTH INDUSTRIAL REIT INC US 111.79 $2,065.89
733174AJ5 POPULAR INC 7.00000 07/01/2019 US 19,543.82 $20,325.57
7339451 ORPEA SA FR ORP FP 273.61 $32,214.05
7380062 AAREAL BANK AG DE ARL GR 398.69 $18,001.87
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 574.59 $31,623.09
741503403 PRICELINE GROUP INC US PCLN 799.73 $1,389,727.93
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 68,012.48 $68,303.77
74340W103 PROLOGIS US PLD 401.04 $25,871.03
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 28,143.1 $30,746.33
74460D109 PUBLIC STORAGE INC US PSA 59.41 $12,417.36
74736K101 QORVO INC US QRVO 14,650.04 $975,692.96
7520794 BANQUE CANTONALE VAUDOIS-REG CH BCVN SW 22.67 $17,099.24
758849103 REGENCY CENTERS CORP US REG 136.65 $9,453.47
75886F107 REGENERON PHARMACEUTICALS INC US REGN 2,170.93 $816,181.74
76169C100 REXFORD INDUSTRIAL REALITY IN US REXR 260.32 $7,591.04
767754CH5 RITE AID CORP 6.12500 04/01/2023 US 2,345.26 $2,116.60
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 20,325.57 $21,291.03
7759435 ILIAD SA FR ILD FP 123.52 $29,596.59
780097AY7 ROYAL BK SCOTLND GRP PLC 6.10000 06/10/2023 GB 4,690.52 $5,165.02
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 368.99 $25,198.14
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 272.05 $28,344.88
78410G104 SBA COMMUNICATIONS CORP US SBAC 4,886.74 $798,297.15
78442FET1 SLM CORP 6.12500 03/25/2024 US 10,944.54 $11,081.34
78442PGC4 SLM CORP 5.12500 04/05/2022 US 14,071.55 $14,634.41
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 28,143.1 $31,617.87
80282KAQ9 SANTANDER HOLDINGS USA 3.40000 01/18/2023 US 43,778.15 $43,607.57
806857108 SCHLUMBERGER LTD NL SLB 15,163.03 $1,021,836.63
808513105 CHARLES SCHWAB CORP/THE US SCHW 22,059.5 $1,133,196.31
81211K100 SEALED AIR CORP US SEE 10,821.02 $533,476.29
812578102 SEATTLE GENETICS INC US SGEN 10,873.4 $581,726.76
81663AAC9 SEMGROUP CORP 6.37500 03/15/2025 US 17,980.31 $17,710.61
81762P102 SERVICENOW INC US NOW 15,337.21 $1,999,818.16
81783QAC9 SEVEN GENERATIONS ENERGY 5.37500 09/30/2025 CA 10,944.54 $11,053.98
828806109 SIMON PROPERTY GROUP INC US SPG 210.29 $36,115.46
82967NAY4 SIRIUS XM RADIO INC 3.87500 08/01/2022 US 3,908.76 $3,918.54
83088M102 SKYWORKS SOLUTIONS INC US SWKS 9,766.44 $927,323.07
834423AA3 SOLVAY FINANCE (AMERICA) 3.40000 12/03/2020 US 37,524.13 $38,316.16
84265V105 SOUTHERN COPPER CORPORATION US SCCO 9,676.53 $459,151.55
84265VAH8 SOUTHERN COPPER CORP 3.87500 04/23/2025 US 29,706.6 $30,806.63
845467AL3 SOUTHWESTERN ENERGY CO 6.70000 01/23/2025 US 14,853.3 $15,428.87
852061AK6 SPRINT COMMUNICATIONS 9.00000 11/15/2018 US 4,690.52 $4,937.24
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 4,690.52 $4,971.95
85208M102 SPROUTS FARMERS MARKET INC US SFM 22,741.18 $553,747.84
85254J102 STAG INDUSTRIAL INC US STAG 435.44 $11,900.47
85571BAJ4 STARWOOD PROPERTY TRUST 4.75000 03/15/2025 US 7,817.53 $7,758.89
862121100 STORE CAPITAL CORP US STOR 320.52 $8,346.30
866674104 SUN COMMUNITIES US SUI 85.21 $7,905.88
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 479.21 $7,921.41
87470LAA9 TALLGRASS NRG PRTNR/FIN 5.50000 09/15/2024 US 21,107.32 $21,661.39
876664103 TAUBMAN CTRS INC US TCO 57.85 $3,785.11
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 17,198.56 $14,102.82
88033GBW9 TENET HEALTHCARE CORP 6.75000 02/01/2020 US 4,690.52 $4,737.42
88146M101 TERRENO REALTY CORP US TRNO 220.45 $7,729.13
882508104 TEXAS INSTRUMENTS INC US TXN 5,107.97 $533,476.57
883556102 THERMO FISHER SCIENTIFIC INC US TMO 1,988.78 $377,629.30
893870204 TRANSPORTADOR GAS SUR-SP ADR AR TGS 692.63 $15,397.23
896356AE2 TRINIDAD DRILLING LTD 6.62500 02/15/2025 CA 16,416.81 $15,595.97
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 14,853.3 $15,967.30
902653104 UDR INC US UDR 280.65 $10,810.61
903002103 UMH PROPERTIES INC US UMH 412.77 $6,150.20
90320MAA3 UPCB FINANCE IV LTD 5.37500 01/15/2025 KY 13,289.79 $13,381.49
904767704 UNILEVER PLC - ADR GB UL 15,106.74 $836,007.23
912810FM5 UNITED STATES TREAS BOND 6.25000 05/15/2030 US 286,903.22 $403,356.79
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 476,869.11 $635,297.69
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 208,906.64 $210,939.86
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 203,220.07 $202,803.32
912828S92 US TREASURY N/B 1.25000 07/31/2023 US 2,539,757.97 $2,406,916.72
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 204,841.14 $203,250.29
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 848,983.36 $846,562.44
91704F104 URBAN EDGE PROPERTIES US UE 619.93 $15,802.01
91911KAJ1 VALEANT PHARMACEUTICALS 6.50000 03/15/2022 CA 2,345.26 $2,462.52
92276F100 VENTAS INC US VTR 126.64 $7,599.90
92339V100 VEREIT INC US VER 1,259.4 $9,810.75
92343VDY7 VERIZON COMMUNICATIONS 4.12500 03/16/2027 US 59,413.2 $61,950.91
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 4,318.4 $647,155.66
92826C839 VISA INC - CLASS A SHARES US V 9,006.57 $1,026,929.36
92826CAC6 VISA INC 2.80000 12/14/2022 US 46,905.16 $47,592.35
929042109 VORNADO REALTY TRUST US VNO 204.82 $16,012.76
948565AC0 WEEKLEY HOMES LLC/ FINAN 6.00000 02/01/2023 US 14,071.55 $14,001.19
94856TAA2 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 14,853.3 $14,779.03
95040Q104 WELLTOWER INC. US HCN 215.76 $13,759.25
962166104 WEYERHAEUSER CO US WY 21,526.18 $759,013.26
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 10,162.78 $10,366.04
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 9,381.03 $10,014.25
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 50,032.17 $50,136.16
98416JAE0 XERIUM TECHNOLOGIES INC 9.50000 08/15/2021 US 10,162.78 $10,289.82
984245100 YPF S.A.-SPONSORED ADR AR YPF 780.19 $17,874.13
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 28,223.62 $1,038,629.05
98954UAB9 ZIGGO BOND FINANCE BV 6.00000 01/15/2027 NL 3,127.01 $3,048.84
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 1,266.44 $16,256.66
B037JC2 NEXITY FR NXI FP 415.11 $24,692.47
B0386J1 JYSKE BANK-REG DK JYSK DC 277.52 $15,779.06
B06JSP1 SYDBANK A/S DK SYDB DC 415.89 $16,740.15
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 1,495.49 $16,000.43
B0LF188 EFG INTERNATIONAL AG CH EFGN SW 2,195.94 $23,184.77
B11ZRK9 LEGRAND SA FR LR FP 334.59 $25,722.85
B138HB7 KAUFMAN & BROAD SA FR KOF FP 368.21 $17,477.25
B13X013 EIFFAGE FR FGR FP 395.57 $43,291.31
B15C557 TOTAL SA FR FP FP 437.78 $24,165.44
B1FRH89 M DIAS BRANCO SA BR MDIA3 BZ 1,110.09 $17,435.60
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 1,287.55 $23,655.71
B1HDJL2 NATIXIS FR KN FP 4,272.28 $33,744.55
B1HKSV6 BANCA GENERALI SPA IT BGN IM 748.92 $24,886.04
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,141.36 $5,915.62
B1NXMK6 IGUATEMI EMP DE SHOPPING BR IGTA3 BZ 1,397.77 $16,598.33
B1WGG93 GEBERIT AG-REG CH GEBN SW 50.03 $22,022.48
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 497.98 $24,980.53
B1XH026 VINCI SA FR DG FP 7,055.32 $720,286.96
B1Y9TB3 DANONE FR BN FP 346.79 $29,057.39
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 5,003.22 $22,701.58
B1YY4B3 UNIBAIL-RODAMCO SE FR UL NA 75.83 $19,082.72
B232R05 SK INNOVATION CO LTD KR 096770 KS 85.99 $16,404.92
B23FNB7 ALIANSCE SHOPPING CENTERS SA BR ALSC3 BZ 3,149.68 $17,129.50
B283W97 CAIXABANK S.A ES CABK SM 117,222.24 $544,943.77
B2B0DG9 RELX PLC GB REL LN 941.23 $22,070.11
B2QY968 HYPERMARCAS SA BR HYPE3 BZ 2,392.16 $25,961.80
B3NB1P2 SUNCOR ENERGY INC CA SU CN 451.85 $16,589.51
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 43,778.15 $31,085.86
B4R2R50 JULIUS BAER CH BAER SW 279.87 $17,114.47
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 92,559.51 $31,335.06
B4X4D29 FLEURY SA BR FLRY3 BZ 2,718.94 $24,270.50
B4YVF56 BRENNTAG AG DE BNR GR 565.99 $35,681.88
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 2,033.65 $25,235.51
B63QM77 NEXON CO LTD JP 3659 JP 844.29 $24,484.73
B725S29 PUREGOLD PRICE CLUB INC PH PGOLD PM 24,518.11 $24,557.40
B7311V6 KALBE FARMA TBK PT ID KLBF IJ 207,832.85 $25,888.15
B7FQV64 RAIA DROGASIL S.A. BR RADL3 BZ 553.48 $15,317.46
BB22L96 KION GROUP AG DE KGX GR 417.46 $35,935.05
BD0PJ08 INMOBILIARIA COLONIAL SOCMI ES COL SM 1,778.49 $17,654.96
BDZZRC1 BOLSAS Y MERCADOS ARGENTINOS AR 510.48 $9,318.91
BFNX8F1 REPSOL SA-RTS ES 1,326.63 $603.28
BFTCYP4 ROBINSONS RETAIL HOLDINGS IN PH RRHI PM 13,168.62 $25,377.03
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 4,004.14 $7,321.83
BGSH2S6 CVC BRASIL OPERADORA E AGENCIA BR CVCB3 BZ 1,297.71 $18,974.07
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 21,576.37 $18,420.22
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 14,005.25 $724,883.35
BNBNSG0 EURONEXT NV NL ENX FP 607.42 $37,677.58
BNGN9Z1 FINECOBANK SPA IT FBK IM 2,941.74 $30,048.60
BNGNB77 MERLIN PROPERTIES SOCIMI SA ES MRL SM 1,289.11 $17,459.77
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 167.3 $3,697.42
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 807.55 $28,079.89
BVRZ8L1 AENA SA ES AENA SM 388.53 $78,630.46
BVSS790 ELIS SA FR ELIS FP 931.07 $25,707.17
BYXS699 QIAGEN N.V. NL QIA GR 696.23 $21,715.68
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 9,202.48 $1,027,374.98
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 15,363.78 $15,669.05
BYZFYS3 SPIE SA FR SPIE FP 1,221.88 $31,767.69
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 3,110.59 $23,950.88
BYZR014 AMUNDI SA FR AMUN FP 333.81 $28,271.78
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 499.54 $29,778.83
BZ3C3Q4 BANKIA SA ES BKIA SM 76,622.39 $365,713.97
G02602103 AMDOCS LTD GG DOX 10,995.04 $719,955.10
G06242104 ATLASSIAN CORP PLC-CLASS A AU TEAM 10,050.52 $457,499.88
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 15,431.02 $499,347.66
G3157S106 ENSCO INTERNATIONAL INC US ESV 22,339.36 $132,025.64
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 10,944.54 $11,573.85
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 723.12 $16,103.91
G5960L103 MEDTRONIC INC IE MDT 19,147.47 $1,546,157.99
G6518L108 NIELSEN HOLDINGS PLC US NLSN 18,755.81 $682,711.46
G97822103 PERRIGO CO PLC IE PRGO 13,451.62 $1,172,442.99
H8817H100 TRANSOCEAN LTD US RIG 37,586.67 $401,425.60
N47279109 INTERXION HOLDING NX NL INXN 241.56 $14,235.22
N72482123 QIAGEN N.V. ADR NL QGEN 25,947.31 $802,550.24
USD US DOLLAR US 710,345.72 $710,345.72

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Maximum 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.

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Maximum 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

$18.72

Daily $ Change

-$0.02

Daily % Change

-0.11%

as of 01/18/2018

CUSIP

302027552

Inception Date

05/31/2007

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 an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets, with only a minor portion of the portfolio invested in fixed income securities. Stock exposure can range from 70% - 95%.

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 2050
  • Who generally have time to withstand market volatility and can accept very significant 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.

Learn more about our Glide Range SM

Annualized Performance

As of 12/31/2017

YTD

---

1 Year

23.91%

3 Year

7.58%

5 Year

10.55%

10 Year

6.27%

Inception
(---)

---

US Stock Market Cycle (04/01/2000 - 12/31/2017)

7.71%

Performance through 06/04/2012 reflects the performance of the Retirement Target Institutional CIT Fund, which was merged into the Retirement Target CIT Fund on 06/04/2012 to establish the Class I units. Performance through the Institutional CIT Fund inception date (05/31/2007) 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. Returns are net of the Class I expenses. The Retirement Target CIT Fund will gradually become more conservative over time. 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 0.69%
Net 0.69%*

*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 12/31/2017

TREASURY NOTES 4.34%
SERVICENOW INC 2.67%
FACEBOOK INC -A 2.42%
DAVITA INC. 2.12%
MEDTRONIC INC 2.06%
O'REILLY AUTOMOTIVE INC 1.88%
PRICELINE GROUP INC 1.85%
ARCONIC INC. 1.60%
PERRIGO CO PLC 1.56%
DIAGEO PLC 1.52%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 12/31/2017

Stocks
88.37%
Bonds
10.69%
Cash
0.94%

Detailed Asset Class Allocation

As of 12/31/2017

International Equities
28.09%
Small Capitalization
1.02%
Mid Capitalization
11.10%
Large Capitalization
48.16%
Long Term Fixed Income
1.88%
Intermediate Term Fixed Income
8.16%
Short Term Fixed Income
0.65%
Cash
0.94%

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

December Fund Holdings

As of 12/31/2017

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00163UAB2 AMAG PHARMACEUTICALS INC 7.87500 09/01/2023 US 11,726.29 $11,418.47
00206REM0 AT&T INC 3.90000 08/14/2027 US 62,540.21 $62,958.09
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 39,087.63 $41,188.59
004239109 ACADIA REALTY TRUST US AKR 179.8 $4,919.41
0045614 ANTOFAGASTA PLC GB ANTO LN 16,701.36 $225,402.58
00507VAM1 ACTIVISION BLIZZARD 3.40000 06/15/2027 US 68,012.48 $68,491.01
0053673 ASHTEAD GROUP PLC GB AHT LN 1,103.05 $29,585.44
00724F101 ADOBE SYS INC US ADBE 5,463.67 $957,453.39
00772BAF8 AERCAP IRELAND CAP LTD/A 4.50000 05/15/2021 IE 67,230.73 $70,606.97
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 7,992.01 $191,328.80
008492100 AGREE REALTY CORP US ADC 79.74 $4,101.76
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 5,472.27 $5,773.24
009563AD9 AIRXCEL INC 8.50000 02/15/2022 US 20,325.57 $21,545.10
013093AD1 ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 US 2,345.26 $2,115.42
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 146.97 $19,192.75
01609W102 ALIBABA GROUP - ADR CN BABA 394 $67,937.99
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 50,032.17 $50,019.55
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 10,944.54 $11,231.83
02005NAT7 ALLY FINANCIAL INC 3.50000 01/27/2019 US 6,254.02 $6,285.29
02079K107 ALPHABET INC-CL C US GOOG 378.37 $395,924.56
02079K305 ALPHABET INC-CL A US GOOGL 375.24 $395,279.15
023135106 AMAZON.COM INC US AMZN 735.63 $860,296.32
023135BA3 AMAZON.COM INC 3.15000 08/22/2027 US 31,270.11 $31,317.23
02319V103 AMBEV SA-ADR BR ABEV 162,716.34 $1,051,147.55
0237400 DIAGEO PLC GB DGE LN 31,017.6 $1,136,927.94
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 10,162.78 $10,442.26
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 177.46 $7,281.10
02665T306 AMERICAN HOMES 4 RENT- A US AMH 659.8 $14,410.02
026874CY1 AMERICAN INTL GROUP 4.12500 02/15/2024 US 45,341.65 $47,908.13
03027X100 AMERICAN TOWER REIT INC US AMT 5,630.18 $803,258.14
03027XAH3 AMERICAN TOWER CORP 3.30000 02/15/2021 US 62,540.21 $63,686.93
03040WAQ8 AMERICAN WATER CAPITAL C 2.95000 09/01/2027 US 64,103.72 $63,440.95
034863AB6 ANGLO AMERICAN CAPITAL 9.37500 04/08/2019 GB 7,035.77 $7,629.13
034863AT7 ANGLO AMERICAN CAPITAL 4.00000 09/11/2027 GB 63,321.96 $62,898.92
03523TBF4 ANHEUSER-BUSCH INBEV WOR 8.20000 01/15/2039 US 39,087.63 $62,164.07
03748R101 APARTMENT INVT & MGMT CO -A US AIV 366.64 $16,025.92
038222AL9 APPLIED MATERIALS INC 3.30000 04/01/2027 US 62,540.21 $63,609.56
03938LAQ7 ARCELORMITTAL 5.75000 08/05/2020 LU 2,345.26 $2,474.25
03965L100 ARCONIC INC. US ARNC 43,972.02 $1,198,237.61
0405207 HALMA PLC GB HLMA LN 997.52 $16,948.92
044186104 ASHLAND GLOBAL HOLDINGS INC US ASH 7,149.91 $509,073.57
04621WAC4 ASSURED GUARANTY US HLDG 5.00000 07/01/2024 US 71,921.24 $77,488.37
0490656 KERRY GROUP PLC-A IE KYGA LN 204.04 $22,945.88
053332102 AUTOZONE INC US AZO 1,522.07 $1,082,756.63
053484101 AVALONBAY COMMUNITIES INC US AVB 111.79 $19,944.57
05501U106 AZUL S.A SPONSORED ADR PFD BR AZUL 647.29 $15,424.95
05565QCS5 BP CAPITAL MARKETS PLC 3.53500 11/04/2024 GB 60,976.71 $63,353.03
0557681 HOWDEN JOINERY GROUP INC GB HWDN LN 1,990.34 $12,528.90
058498106 BALL CORP US BLL 12,891.88 $487,957.76
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 45,341.65 $47,171.72
06739FFU0 BARCLAYS BANK PLC 10.17900 06/12/2021 GB 31,270.11 $38,109.90
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 12,590.13 $1,122,661.56
09062X103 BIOGEN IDEC INC US BIIB 2,063.05 $657,224.31
09247X101 BLACKROCK INC US BLK 1,395.43 $716,845.55
0946580 WEIR GROUP PLC/THE GB WEIR LN 2,246.76 $64,400.20
09627J102 BLUEROCK RESIDENTIAL GROWTH US 345.53 $3,493.36
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 45,341.65 $50,576.38
101121101 BOSTON PROPERTIES INC US BXP 147.75 $19,212.09
105368203 BRANDYWINE REALTY TRUST US BDN 442.47 $8,048.57
110122108 BRISTOL MYERS SQUIBB CO US BMY 10,956.26 $671,399.81
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 265.8 $17,805.67
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B138HB7 KAUFMAN & BROAD SA FR KOF FP 368.21 $17,477.25
B13X013 EIFFAGE FR FGR FP 395.57 $43,291.31
B15C557 TOTAL SA FR FP FP 437.78 $24,165.44
B1FRH89 M DIAS BRANCO SA BR MDIA3 BZ 1,110.09 $17,435.60
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 1,287.55 $23,655.71
B1HDJL2 NATIXIS FR KN FP 4,272.28 $33,744.55
B1HKSV6 BANCA GENERALI SPA IT BGN IM 748.92 $24,886.04
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 1,141.36 $5,915.62
B1NXMK6 IGUATEMI EMP DE SHOPPING BR IGTA3 BZ 1,397.77 $16,598.33
B1WGG93 GEBERIT AG-REG CH GEBN SW 50.03 $22,022.48
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 497.98 $24,980.53
B1XH026 VINCI SA FR DG FP 7,055.32 $720,286.96
B1Y9TB3 DANONE FR BN FP 346.79 $29,057.39
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 5,003.22 $22,701.58
B1YY4B3 UNIBAIL-RODAMCO SE FR UL NA 75.83 $19,082.72
B232R05 SK INNOVATION CO LTD KR 096770 KS 85.99 $16,404.92
B23FNB7 ALIANSCE SHOPPING CENTERS SA BR ALSC3 BZ 3,149.68 $17,129.50
B283W97 CAIXABANK S.A ES CABK SM 117,222.24 $544,943.77
B2B0DG9 RELX PLC GB REL LN 941.23 $22,070.11
B2QY968 HYPERMARCAS SA BR HYPE3 BZ 2,392.16 $25,961.80
B3NB1P2 SUNCOR ENERGY INC CA SU CN 451.85 $16,589.51
B4Q2TX3 CHINA LONGYUAN POWER GROUP-H CN 916 HK 43,778.15 $31,085.86
B4R2R50 JULIUS BAER CH BAER SW 279.87 $17,114.47
B4WTBY3 HUANENG RENEWABLES CORP-H CN 958 HK 92,559.51 $31,335.06
B4X4D29 FLEURY SA BR FLRY3 BZ 2,718.94 $24,270.50
B4YVF56 BRENNTAG AG DE BNR GR 565.99 $35,681.88
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 2,033.65 $25,235.51
B63QM77 NEXON CO LTD JP 3659 JP 844.29 $24,484.73
B725S29 PUREGOLD PRICE CLUB INC PH PGOLD PM 24,518.11 $24,557.40
B7311V6 KALBE FARMA TBK PT ID KLBF IJ 207,832.85 $25,888.15
B7FQV64 RAIA DROGASIL S.A. BR RADL3 BZ 553.48 $15,317.46
BB22L96 KION GROUP AG DE KGX GR 417.46 $35,935.05
BD0PJ08 INMOBILIARIA COLONIAL SOCMI ES COL SM 1,778.49 $17,654.96
BDZZRC1 BOLSAS Y MERCADOS ARGENTINOS AR 510.48 $9,318.91
BFNX8F1 REPSOL SA-RTS ES 1,326.63 $603.28
BFTCYP4 ROBINSONS RETAIL HOLDINGS IN PH RRHI PM 13,168.62 $25,377.03
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 4,004.14 $7,321.83
BGSH2S6 CVC BRASIL OPERADORA E AGENCIA BR CVCB3 BZ 1,297.71 $18,974.07
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 21,576.37 $18,420.22
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 14,005.25 $724,883.35
BNBNSG0 EURONEXT NV NL ENX FP 607.42 $37,677.58
BNGN9Z1 FINECOBANK SPA IT FBK IM 2,941.74 $30,048.60
BNGNB77 MERLIN PROPERTIES SOCIMI SA ES MRL SM 1,289.11 $17,459.77
BP269Z8 AXIA REAL ESTATE SOCIMI SA ES AXIA SM 167.3 $3,697.42
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 807.55 $28,079.89
BVRZ8L1 AENA SA ES AENA SM 388.53 $78,630.46
BVSS790 ELIS SA FR ELIS FP 931.07 $25,707.17
BYXS699 QIAGEN N.V. NL QIA GR 696.23 $21,715.68
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 9,202.48 $1,027,374.98
BYZ43T4 EUROBANK ERGASIAS SA GR EUROB GA 15,363.78 $15,669.05
BYZFYS3 SPIE SA FR SPIE FP 1,221.88 $31,767.69
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 3,110.59 $23,950.88
BYZR014 AMUNDI SA FR AMUN FP 333.81 $28,271.78
BYZWX76 CRODA INTERNATIONAL PLC GB CRDA LN 499.54 $29,778.83
BZ3C3Q4 BANKIA SA ES BKIA SM 76,622.39 $365,713.97
G02602103 AMDOCS LTD GG DOX 10,995.04 $719,955.10
G06242104 ATLASSIAN CORP PLC-CLASS A AU TEAM 10,050.52 $457,499.88
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 15,431.02 $499,347.66
G3157S106 ENSCO INTERNATIONAL INC US ESV 22,339.36 $132,025.64
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 10,944.54 $11,573.85
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 723.12 $16,103.91
G5960L103 MEDTRONIC INC IE MDT 19,147.47 $1,546,157.99
G6518L108 NIELSEN HOLDINGS PLC US NLSN 18,755.81 $682,711.46
G97822103 PERRIGO CO PLC IE PRGO 13,451.62 $1,172,442.99
H8817H100 TRANSOCEAN LTD US RIG 37,586.67 $401,425.60
N47279109 INTERXION HOLDING NX NL INXN 241.56 $14,235.22
N72482123 QIAGEN N.V. ADR NL QGEN 25,947.31 $802,550.24
USD US DOLLAR US 710,345.72 $710,345.72

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Maximum 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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