Investment Objective

To provide capital growth and manage risk for investors planning to retire (or meet another investment goal) 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 2060
  • 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.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$15.04

Daily $ Change

-$0.03

Daily % Change

-0.20%

as of 09/13/2019

CUSIP

302028824

Inception Date

10/06/2015

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

Important Documents

Annual Report
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

Performance

As of 08/31/2019

YTD

18.83%

1 Year

4.44%

3 Year

10.30%

5 Year

6.25%

10 Year

9.75%

Inception
(01/01/2000)

7.52%

US Stock Market Cycle (04/01/2000 - 08/31/2019)

7.67%

Performance through the inception date of the Retirement Target CIT Class I units is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (09/18/2015) 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. 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. 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.

Expense Ratio

Gross 0.80%
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 08/31/2019

TREASURY NOTES 8.99%
COCA COLA CO/THE 2.19%
BERKSHIRE HATHAWAY INC-CL B 2.17%
SERVICENOW INC 2.15%
MONDELEZ INTERNATIONAL INC 1.99%
JOHNSON & JOHNSON 1.94%
MEDTRONIC INC 1.81%
MASTERCARD INC-CLASS A 1.75%
MICROSOFT CORP 1.67%
LULULEMON - ADR 1.64%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2019

Stocks 83.85%
Bonds 14.48%
Cash 1.67%

Detailed Asset Class Allocation

As of 08/31/2019

International Equities 28.42%
Small Capitalization 2.01%
Mid Capitalization 2.76%
Large Capitalization 50.66%
Long Term Fixed Income 2.43%
Intermediate Term Fixed Income 9.18%
Short Term Fixed Income 2.87%
Cash 1.67%

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

August Fund Holdings

As of 08/31/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 266.72 $283.39
00101JAM8 ADT CORP 5.25000 03/15/2020 US 355.63 $359.19
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 5,334.43 $5,869.37
00287Y109 ABBVIE INC US ABBV 16.41 $1,078.94
004239109 ACADIA REALTY TRUST US AKR 12.09 $330.70
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 355.63 $327.52
00507V109 ACTIVISION INC US ATVI 988.65 $50,025.58
00751Y106 ADVANCE AUTO PARTS INC US AAP 327.71 $45,207.85
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 5,512.25 $5,911.53
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 355.63 $353.85
008492100 AGREE REALTY CORP US ADC 7.65 $571.08
013093AD1 ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 US 355.63 $364.52
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 2.85 $426.30
01609W102 ALIBABA GROUP - ADR CN BABA 16.54 $2,894.42
020002101 ALLSTATE CORPORATION US ALL 3.98 $407.82
02079K107 ALPHABET INC-CL C US GOOG 47.39 $56,301.12
02079K305 ALPHABET INC-CL A US GOOGL 47.21 $56,204.58
02209S103 ALTRIA GROUP INC US MO 763.98 $33,416.46
023135106 AMAZON.COM INC US AMZN 38.05 $67,591.88
02319V103 AMBEV SA-ADR BR ABEV 12,291.68 $55,804.25
0237400 DIAGEO PLC GB DGE LN 1,133.3 $48,520.70
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 977.98 $979.45
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 12.89 $599.20
0263494 BAE SYSTEMS PLC GB BA/ LN 334.29 $2,223.07
02665T306 AMERICAN HOMES 4 RENT- A US AMH 79.04 $2,021.80
0287580 BRITISH AMERICAN TOBACCO PLC GB BATS LN 64.01 $2,245.47
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 800.16 $806.13
03027X100 AMERICAN TOWER REIT INC US AMT 278.46 $64,098.09
03064D108 AMERICOLD REALTY TRUST US COLD 33.34 $1,214.25
031162100 AMGEN INC US AMGN 7.33 $1,528.34
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 355.63 $322.73
03748R754 APARTMENT INVT & MGMT CO -A US AIV 27.12 $1,382.95
038222105 APPLIED MATERIALS INC US AMAT 10.38 $498.66
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 7.57 $288.22
03968AAA9 ARD SECURITIES FINANCE 8.75000 01/31/2023 LU 185.58 $192.08
0405207 HALMA PLC GB HLMA LN 48.01 $1,151.48
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 355.63 $352.07
0490656 KERRY GROUP PLC-A IE KYGA LN 18.94 $2,251.95
05278C107 AUTOHOME INC-ADR CN ATHM 20.89 $1,821.05
053332102 AUTOZONE INC US AZO 44.36 $48,876.13
053484101 AVALONBAY COMMUNITIES INC US AVB 11.38 $2,418.96
054937107 BB&T CORP US BBT 8.55 $407.54
05722G100 BAKER HUGHES A GE CO US BHGE 13.64 $295.82
060505104 BANK OF AMERICA CORP US BAC 54.45 $1,497.83
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 8,357.28 $8,928.03
0673123 ASSOCIATED BRITISH FOODS PLC GB ABF LN 82.77 $2,290.01
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 631.6 $128,473.07
086516101 BEST BUY INC US BBY 5.3 $337.27
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 376.61 $28,268.41
0922320 SMITH & NEPHEW PLC GB SN/ LN 96.91 $2,322.21
09247X101 BLACKROCK INC US BLK 180.84 $76,414.57
0946580 WEIR GROUP PLC/THE GB WEIR LN 115.31 $2,062.51
097023105 BOEING CO US BA 4.89 $1,780.36
09857L108 BOOKING HOLDINGS INC US BKNG 21.96 $43,182.51
101121101 BOSTON PROPERTIES INC US BXP 13.43 $1,724.04
101137107 BOSTON SCIENTIFIC CORP US BSX 915.03 $39,099.35
105368203 BRANDYWINE REALTY TRUST US BDN 100.73 $1,445.50
110122108 BRISTOL MYERS SQUIBB CO US BMY 18.35 $882.11
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 29.34 $1,029.81
11135F101 BROADCOM INC US AVGO 3.61 $1,020.23
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 355.63 $253.39
12429TAE4 BWAY HOLDING CO 7.25000 04/15/2025 US 355.63 $339.63
12503M108 CBOE GLOBAL MARKETS INC US CBOE 425.24 $50,671.96
125269100 CF INDUSTRIES HOLDINGS INC US CF 1,130.01 $54,455.20
12527GAB9 CF INDUSTRIES INC 7.12500 05/01/2020 US 266.72 $274.06
12541W209 C.H. ROBINSON WORLDWIDE INC US CHRW 3.47 $292.96
12572Q105 CME GROUP INC US CME 237.29 $51,561.46
126650100 CVS HEALTH CORP US CVS 14.85 $904.51
12686CBA6 CABLEVISION SYSTEMS CORP 8.00000 04/15/2020 US 266.72 $274.39
133131102 CAMDEN PROPERTY TRUST US CPT 10.49 $1,135.66
13321L108 CAMECO CORP CA CCJ 161.58 $1,417.06
149123101 CATERPILLAR INC US CAT 6.22 $740.60
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 266.72 $271.39
165240102 CHESAPEAKE LODGING TRUST US CHSP 17.96 $462.45
166764100 CHEVRON CORP US CVX 12.64 $1,488.29
17275R102 CISCO SYSTEMS INC US CSCO 37.22 $1,742.11
172967424 CITIGROUP INC US C 15.83 $1,018.37
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 2,667.22 $4,457.36
191216100 COCA COLA CO/THE US KO 2,346.17 $129,133.29
192422103 COGNEX CORP US CGNX 609.99 $27,498.45
194162103 COLGATE-PALMOLIVE CO US CL 539.47 $40,001.78
2011646 ALIMENTATION COUCHE-TARD -B CA ATD/B CN 37.34 $2,350.29
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 21.6 $921.21
205887102 CONAGRA BRAND INC. US CAG 9.05 $256.68
222795502 COUSINS PROPERTIES INC US CUZ 63.64 $2,208.30
22546QAD9 CREDIT SUISSE AG 5.40000 01/14/2020 CH 11,024.49 $11,142.51
22822V101 CROWN CASTLE INTL CORP US CCI 8.45 $1,226.13
228368106 CROWN HOLDINGS INC US CCK 589.99 $38,844.81
229663109 CUBESMART US CUBE 10.76 $386.10
231021106 CUMMINS INC US CMI 2.85 $424.68
2328595 BANCO DO BRASIL S.A. BR BBAS3 BZ 64.01 $714.33
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 56.19 $344.38
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 647.24 $1,185.23
2458771 ITAUSA INVESTIMENTOS ITAU -PR BR ITSA4 BZ 250.72 $746.52
2521800 LOBLAW COMPANIES LTD CA L CN 42.41 $2,321.11
25271C102 DIAMOND OFFSHORE DRILLING US DO 1,702.75 $11,050.85
253868103 DIGITAL REALTY TRUST INC US DLR 10.22 $1,264.03
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 5,334.43 $6,033.89
256677105 DOLLAR GENERAL CORP US DG 531.67 $82,987.58
256746108 DOLLAR TREE STORES INC US DLTR 898.67 $91,242.35
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 266.72 $276.06
25960P109 DOUGLAS EMMETT INC US DEI 26.67 $1,125.56
260557103 DOW INC US DOW 8.87 $378.25
26151AAA7 DRAX FINCO PLC 6.62500 11/01/2025 GB 2,222.68 $2,294.92
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 2,311.59 $2,126.66
269246401 ETRADE FINANCIAL CORP US ETFC 451.56 $18,848.10
2715777 QUEBECOR INC -CL B CA QBR/B CN 1,798.59 $40,513.58
277432100 EASTMAN CHEM CO US EMN 3.4 $222.01
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 2,121.68 $40,317.36
285512109 ELECTRONIC ARTS US EA 934.41 $87,535.95
2866857 LUNDIN MINING CORP CA LUN CN 2,898.64 $13,824.82
291011104 EMERSON ELEC CO US EMR 9.42 $561.59
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 3,556.29 $4,319.64
29444U700 EQUINIX INC US EQIX 100.47 $55,886.74
2945422 WEG SA BR WEGE3 BZ 51.57 $277.94
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 8.09 $1,089.96
29476L107 EQUITY RESIDENTIAL US EQR 25.16 $2,132.62
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 37.57 $853.26
297178105 ESSEX PROPERTY TRUST INC US ESS 5.87 $1,885.11
30225T102 EXTRA SPACE STORAGE INC US EXR 5.78 $704.57
30303M102 FACEBOOK INC -A US FB 418.58 $77,716.82
30744W107 FARFETCH LTD - CLASS A GB FTCH 25.52 $249.55
311900104 FASTENAL CO US FAST 10.78 $329.95
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 2.93 $379.09
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 622.35 $659.69
316773100 FIFTH THIRD BANCORP US FITB 12.8 $338.63
32054K103 FIRST INDUSTRIAL REALTY TR US FR 18.85 $734.14
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 444.54 $445.93
346232AD3 FORESTAR GROUP INC 8.00000 04/15/2024 US 444.54 $477.32
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 444.54 $457.87
35671D857 FREEPORT-MCMORAN INC US FCX 2,504.34 $23,014.86
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 1,511.42 $1,540.14
364760108 GAP INC US GPS 9.37 $147.97
369550108 GENERAL DYNAMICS CORP US GD 2.88 $550.97
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 5,156.62 $4,679.63
370334104 GENERAL MLS INC US GIS 10.56 $568.24
37045VAR1 GENERAL MOTORS CO FLT 3.35300 09/10/2021 US 6,045.69 $6,040.08
372460105 GENUINE PARTS CO US GPC 3.45 $311.46
374297109 GETTY REALTY CORP US GTY 22.14 $703.10
375558103 GILEAD SCIENCES INC US GILD 16.22 $1,030.41
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 2,258.24 $2,280.82
37960JAA6 GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 KY 355.63 $353.85
38141GVR2 GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 US 2,667.22 $2,876.49
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 8.36 $794.86
4012250 AIRBUS SE FR AIR FP 15.11 $2,082.63
4031879 VEOLIA ENVIRONMENT FR VIE FP 14.4 $344.43
404119BX6 HCA INC 4.12500 06/15/2029 US 4,089.73 $4,351.43
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 177.81 $154.70
40414L109 HCP INC US HCP 40.1 $1,391.77
4057808 L'OREAL FR OR FP 6.76 $1,845.02
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 6.58 $2,623.66
406216101 HALLIBURTON CO US HAL 2,443.21 $46,029.98
4162791 THALES SA FR HO FP 1.96 $226.16
4163437 CAPGEMINI FR CAP FP 3.82 $458.71
416515104 HARTFORD FINL SVCS US HIG 5.14 $299.49
421946104 HEALTHCARE REALTY TRUST INC US HR 33.78 $1,122.67
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 38.5 $1,091.77
427866108 HERSHEY CO/THE US HSY 3.59 $569.24
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 5.6 $517.38
437076102 HOME DEPOT INC US HD 9.3 $2,119.49
438516106 HONEYWELL INTERNATIONAL INC US HON 7.56 $1,244.05
44107P104 HOST MARRIOTT CORP US HST 39.39 $631.75
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 622.35 $659.69
445658107 HUNT (JB) TRANSPORT SVCS INC US JBHT 378.92 $40,938.78
4457624 TRIGANO SA FR TRI FP 4.71 $451.83
452308109 ILLINOIS TOOL WKS INC US ITW 4.2 $628.88
45337C102 INCYTE CORP US INCY 259.88 $21,263.03
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 54.06 $751.91
458140100 INTEL CORP US INTC 41.16 $1,951.59
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 551.05 $51,511.85
4588364 MICHELIN (CGDE)-B FR ML FP 5.16 $542.88
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 9.83 $1,332.68
460146103 INTERNATIONAL PAPER CO US IP 5.9 $230.82
46120E602 INTUITIVE SURGICAL INC US ISRG 41.34 $21,139.74
46187W107 INVITATION HOMES INC US INVH 66.63 $1,916.19
46625H100 JP MORGAN CHASE & CO US JPM 21.14 $2,322.67
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 4,089.73 $4,395.76
4682329 PERNOD-RICARD SA FR RI FP 5.6 $1,069.31
4741844 MERCK KGAA DE MRK GR 422.22 $45,234.78
476405105 JERNIGAN CAPITAL INC US JCAP 46.05 $889.30
478160104 JOHNSON & JOHNSON US JNJ 892.88 $114,609.70
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 622.35 $199.15
4821100 SOLVAY SA BE SOLB BB 28.72 $2,902.60
4824778 SGS SA-REG CH SGSN SW .53 $1,314.01
482480100 KLA-TENCOR CORPORATION US KLAC 3.11 $460.23
4834108 SCHNEIDER ELECTRIC SE FR SU FP 14.05 $1,176.66
4834777 VIVENDI FR VIV FP 24.54 $686.19
487836108 KELLOGG CO US K 5.94 $372.97
493267108 KEYCORP US KEY 17.44 $289.56
494368103 KIMBERLY CLARK CORP US KMB 5.19 $732.67
49446R109 KIMCO REALTY CORP US KIM 32.54 $598.09
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 4,445.36 $5,901.69
500255104 KOHLS CORP US KSS 3.95 $186.56
501044101 KROGER CO US KR 10.63 $251.80
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 622.35 $649.58
5107401 BEIERSDORF AG DE BEI GR 427.29 $53,859.33
512807108 LAM RESEARCH CORP US LRCX 1.8 $378.06
5176177 ORANGE FR ORA FP 53.43 $811.83
5253973 HERMES INTERNATIONAL FR RMS FP .89 $607.14
529043101 LEXINGTON REALTY TRUST US LXP 66.15 $687.27
531172104 LIBERTY PROPERTY TRUST US LPT 18.4 $959.21
53223X107 LIFE STORAGE INC US LSI 5.25 $555.82
5330047 DASSAULT SYSTEMES SA FR DSY FP 4 $564.13
539830109 LOCKHEED MARTIN CORP US LMT 3.09 $1,188.42
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 177.81 $152.92
5476929 BARRY CALLEBAUT AG-REG CH BARN SW .53 $1,093.69
550021109 LULULEMON - ADR CA LULU 525.83 $97,105.52
5505072 KERING FR KER FP 2.13 $1,033.91
5545670 JUNGHEINRICH AG DE JUN3 GR 53.61 $1,141.06
5608915 ALTEN SA FR ATE FP 6.67 $796.21
5633616 SOPRA STERIA GROUP FR SOP FP 7.91 $1,014.84
56585A102 MARATHON PETROLEUM CORP US MPC 10.99 $540.77
5669354 REPSOL SA ES REP SM 164.62 $2,395.14
5671735 SANOFI-AVENTIS FR SAN FP 27.92 $2,398.26
5701513 ELISA OYJ FI ELISA FH 45.4 $2,283.07
5727973 SIEMENS AG-REG DE SIE GR 11.2 $1,120.25
57636Q104 MASTERCARD INC-CLASS A US MA 368.16 $103,590.49
57772K101 MAXIM INTEGRATED PRODUCTS US MXIM 5.07 $276.39
585464100 MELCO CROWN ENTERTAINME-ADR HK MLCO 51.21 $1,065.18
58933Y105 MERCK & CO INC US MRK 274.94 $23,773.77
594918104 MICROSOFT CORP US MSFT 716.5 $98,777.10
595112103 MICRON TECHNOLOGY INC US MU 1,203.27 $54,472.03
59522J103 MID-AMERICA APARTMENT COMM US MAA 7.38 $934.81
5962280 CHOCOLADEFABRIKEN LINDT-PC CH LISP SW .12 $922.53
5980613 GIVAUDAN - REG CH GIVN SW .44 $1,205.47
5986622 KONINKLIJKE PHILIPS NV NL PHIA NA 49.25 $2,321.57
6055112 AYALA LAND INC PH ALI PM 1,255.37 $1,140.08
6074968 BANK OF THE PHILIPPINE ISLAN PH BPI PM 413.95 $699.12
60871R209 MOLSON COORS BREWING CO -B US TAP 4.16 $213.70
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 2,128.31 $117,525.47
6108179 HARMONIC DRIVE SYSTEMS INC JP 6324 JP 28.45 $1,127.17
615369105 MOODY'S CORPORATION US MCO 238.8 $51,481.52
61744YAG3 MORGAN STANLEY FLT 3.40700 05/08/2024 US 8,712.9 $8,832.97
6194037 KAKAO CORP KR 035720 KS 20.8 $2,314.37
61965RAB1 MOSS CREEK RESOURCES HLD 10.50000 05/15/2027 US 88.91 $69.79
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 622.35 $606.79
6250025 DAIFUKU CO LTD JP 6383 JP 23.12 $1,089.35
6272483 DMCI HOLDINGS INC PH DMC PM 1,859.94 $323.34
6284864 GLOBE TELECOM INC PH GLO PM 17.87 $696.86
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 2,560.53 $1,493.65
62957HAC9 NABORS INDUSTRIES INC 5.50000 01/15/2023 US 355.63 $316.95
6356934 FANUC LTD JP 6954 JP 12.45 $2,155.48
637417106 NATIONAL RETAIL PROPERTIES US NNN 19.83 $1,113.25
637870106 NATIONAL STORAGE AFFILIATES US NSA 19.47 $651.49
64110D104 NETAPP INC US NTAP 3.66 $176.04
6441506 HOYA CORP JP 7741 JP 26.67 $2,168.54
6465874 GALAXY ENTERTAINMENT GROUP L HK 27 HK 248.94 $1,557.99
6474494 JOLLIBEE FOODS CORP PH JFC PM 182.26 $832.18
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 15.91 $1,804.69
6490995 KEYENCE CORP JP 6861 JP 55.74 $32,939.60
6499550 KYOWA KIRIN CO LTD JP 4151 JP 2,562.31 $46,874.78
6514442 METROPOLITAN BANK & TRUST PH MBT PM 595.59 $810.75
654106103 NIKE INC CLASS B US NKE 1,129.39 $95,433.28
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 622.35 $385.86
6687571 NABTESCO CORP JP 6268 JP 40.9 $1,173.15
66987V109 NOVARTIS AG- REG CH NVS 648.58 $58,443.36
670346105 NUCOR CORP US NUE 6.54 $320.50
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 266.72 $278.06
6742340 SHANDONG WEIGAO CN 1066 HK 995.76 $1,025.08
674599105 OCCIDENTAL PETROLEUM CORP US OXY 9.03 $392.75
680665AL0 OLIN CORP 5.62500 08/01/2029 US 355.63 $369.41
6818843 SM PRIME HOLDINGS INC PH SMPH PM 2,081.85 $1,411.21
681936100 OMEGA HEALTHCARE INVS INC US OHI 17.96 $730.58
6821120 SONIC HEALTHCARE LTD AU SHL AU 118.42 $2,344.26
6821506 SONY CORP FIRST SECTION JP 6758 JP 35.56 $2,025.75
6895200 TOHO CO LTD JP 9602 JP 53.34 $2,260.36
6919519 UNIVERSAL ROBINA CORP PH URC PM 249.83 $829.88
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 53.43 $1,154.12
7021963 DEUTSCHE BOERSE AG DE DB1 GR 363.99 $53,481.43
7088429 AXA SA FR CS FP 53.43 $1,225.25
7103065 NOVARTIS AG-REG CH NOVN SW 27.92 $2,516.84
7103526 PEUGEOT SA FR UG FP 14.67 $327.97
7110388 ROCHE HOLDING AG-GENUSSCHEIN CH ROG SW 12.45 $3,401.27
7110902 TECAN GROUP AG-REG CH TECN SW 2.4 $577.26
7123870 NESTLE SA-REGISTERED CH NESN SW 525 $58,996.23
7133608 EQUINOR ASA NO EQNR NO 136.74 $2,331.83
713448108 PEPSICO INC US PEP 571.58 $78,152.72
7145056 ENI SPA IT ENI IM 155.32 $2,344.32
717081103 PFIZER INC US PFE 52.12 $1,852.77
718172109 PHILIP MORRIS INTERNATIONAL US PM 758.11 $54,652.26
718546104 PHILLIPS 66 US PSX 5.07 $499.83
71943U104 PHYSICIANS REALTY TRUST US DOC 80.19 $1,388.96
7212477 ESSILORLUXOTTICA FR EL FP 6.13 $905.76
7262610 CREDIT AGRICOLE SA FR ACA FP 30.67 $349.65
729640102 PLYMOUTH INDUSTRIAL REIT INC US 29.43 $549.13
7309681 BNP PARIBAS FR BNP FP 33.25 $1,498.83
7339451 ORPEA SA FR ORP FP 8.27 $1,043.44
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 13.07 $471.24
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 8,357.28 $8,950.60
74340W103 PROLOGIS US PLD 44.45 $3,717.21
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 5,512.25 $5,898.10
74460D109 PUBLIC STORAGE INC US PSA 7.65 $2,024.21
74834L100 QUEST DIAGNOSTICS INC US DGX 2.56 $262.12
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 622.35 $634.02
756109104 REALTY INCOME CORP US O 6.13 $452.79
7591EP100 REGIONS FINANCIAL CORP. US RF 15.54 $227.21
76131D103 RESTAURANT BRANDS INTERN CA QSR 19.03 $1,492.60
7698356 GETINGE AB-B SHS SE GETIB SS 94.51 $1,308.14
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 444.54 $454.43
773903109 ROCKWELL AUTOMATION INC US ROK 1.71 $260.82
7742468 GECINA SA FR GFC FP 6.49 $1,028.84
77714PAB5 SEMGROUP / ROSE ROCK FIN 5.62500 07/15/2022 US 533.44 $513.98
7792559 HEINEKEN NV NL HEIA NA 21.69 $2,308.12
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 60.19 $3,356.20
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 15.83 $906.80
78409V104 S&P GLOBAL INC US SPGI 198.17 $51,562.92
78410G104 SBA COMMUNICATIONS CORP US SBAC 242.36 $63,602.79
78442PGC4 SLM CORP 5.12500 04/05/2022 US 622.35 $637.13
78463V107 SPDR GOLD SHARES US 70.95 $10,198.77
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 7,290.39 $8,378.64
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 5,512.25 $5,934.02
806857108 SCHLUMBERGER LTD NL SLB 1,022.63 $33,163.83
808513105 CHARLES SCHWAB CORP/THE US SCHW 556.47 $21,296.11
81141R100 SEA LTD - ADR SG SE 2,512.69 $80,707.76
812578102 SEATTLE GENETICS INC US SGEN 278.99 $20,265.89
81762P102 SERVICENOW INC US NOW 484.01 $126,733.36
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 355.63 $316.51
828806109 SIMON PROPERTY GROUP INC US SPG 17.51 $2,608.64
832696405 JM SMUCKER CO/THE-NEW COM WI US SJM 2.54 $267.40
835699307 SONY CORP SPONSORED ADR JP SNE 1,523.69 $86,713.27
84265V105 SOUTHERN COPPER CORPORATION US SCCO 987.4 $31,201.94
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 6,579.13 $6,686.59
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 355.63 $311.18
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 266.72 $286.91
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 266.72 $294.85
85254J102 STAG INDUSTRIAL INC US STAG 23.47 $682.55
855030AN2 STAPLES INC 7.50000 04/15/2026 US 444.54 $448.98
862121100 STORE CAPITAL CORP US STOR 12.09 $456.57
866674104 SUN COMMUNITIES US SUI 10.49 $1,550.58
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 32.72 $429.91
867914103 SUNTRUST BANKS INC US STI 6.63 $407.96
871829107 SYSCO CORP US SYY 8.25 $613.27
874080104 TAL EDUCATION GROUP - ADR CN TAL 49.52 $1,764.44
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 355.63 $309.40
882508104 TEXAS INSTRUMENTS INC US TXN 10.33 $1,278.46
883556102 THERMO FISHER SCIENTIFIC INC US TMO 150.16 $43,106.14
88579Y101 3M CO US MMM 7.08 $1,144.49
89417E109 TRAVELLERS COS INC US TRV 2.97 $436.40
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 622.35 $579.57
902494103 TYSON FOODS INC -CL A US TSN 4.45 $413.60
902653104 UDR INC US UDR 21.16 $1,019.48
902973304 U.S. BANCORP US USB 18.97 $999.68
903002103 UMH PROPERTIES INC US UMH 25.69 $330.43
904767704 UNILEVER PLC - ADR GB UL 1,080.74 $68,281.02
907818108 UNION PAC CORP US UNP 7.54 $1,221.07
911312106 UNITED PARCEL SERVICE US UPS 10.94 $1,297.62
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 37,074.3 $54,184.95
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 16,709.74 $18,338.87
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 31,117.51 $38,022.93
9128283W8 US TREASURY N/B 2.75000 02/15/2028 US 63,479.73 $69,827.70
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 66,680.39 $67,834.27
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 68,051.98 $67,407.35
912828K74 US TREASURY N/B 2.00000 08/15/2025 US 247,108.63 $254,859.73
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 68,458.53 $69,191.25
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 65,257.87 $69,581.21
913017109 UNITED TECHNOLOGIES CORP US UTX 8.87 $1,155.61
91324P102 UNITEDHEALTH GROUP INC US UNH 175.33 $41,026.04
91704F104 URBAN EDGE PROPERTIES US UE 49.25 $862.45
918204108 VF CORP US VFC 6.13 $502.73
91913Y100 VALERO ENERGY US VLO 6.56 $493.94
92189F106 MARKET VECTORS GOLD MINERS US 188.2 $5,619.61
92276F100 VENTAS INC US VTR 27.83 $2,042.29
92339V100 VEREIT INC US VER 132.38 $1,290.73
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 6,579.13 $8,827.64
92511U102 VERRA MOBILITY CORP US VRRM 5,610.13 $78,093.04
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 118.16 $21,270.74
92553P201 VIACOM INC CL B US VIAB 8.45 $210.99
92826C839 VISA INC - CLASS A SHARES US V 473.16 $85,557.52
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 444.54 $436.76
929042109 VORNADO REALTY TRUST US VNO 7.11 $430.10
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 177.81 $171.59
931142103 WAL MART STORES US WMT 23.1 $2,639.19
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 11.97 $612.59
94106L109 WASTE MANAGEMENT INC US WM 6.24 $744.90
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 622.35 $622.35
948741103 WEINGARTEN REALTY INVESTORS US WRI 31.47 $833.72
949746101 WELLS FARGO COMPANY US WFC 40.79 $1,899.62
95040Q104 WELLTOWER INC. US WELL 17.43 $1,560.66
958102105 WESTERN DIGITAL CORP US WDC 5.89 $337.07
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 4,267.54 $4,449.99
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 711.26 $668.58
B00FM53 BANCO BRADESCO SA - PREF BR BBDC4 BZ 229.38 $1,833.49
B01FLR7 PING AN INSURANCE GROUP CO-H CN 2318 HK 142.25 $1,632.05
B02J639 ADMIRAL GROUP PLC GB ADM LN 49.17 $1,288.41
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 277.39 $2,277.54
B037JC2 NEXITY FR NXI FP 7.29 $338.65
B058TZ6 SAFRAN SA FR SAF FP 8.09 $1,175.08
B068DB9 SM INVESTMENTS CORP PH SM PM 54.77 $1,079.11
B07DRZ5 RECORDATI SPA IT REC IM 50.41 $2,211.86
B08K3S0 LOCALIZA RENT A CAR BR RENT3 BZ 32.01 $365.98
B0C2CQ3 ENGIE FR ENGI FP 45.34 $689.42
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 49.79 $608.61
B0MP1B0 SHENZHOU INTERNATIONAL GROUP CN 2313 HK 129.8 $1,761.10
B11ZRK9 LEGRAND SA FR LR FP 6.58 $464.50
B13X013 EIFFAGE FR FGR FP 6.67 $690.96
B15C557 TOTAL SA FR FP FP 47.03 $2,348.70
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 162.26 $2,331.88
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 179.59 $1,056.06
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 24.63 $1,096.82
B1XH026 VINCI SA FR DG FP 20.72 $2,263.30
B1Y47Y7 GERRESHEIMER AG DE GXI GR 13.69 $1,034.64
B1Y9TB3 DANONE FR BN FP 56.42 $5,054.66
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 124.47 $1,032.48
B1YXBJ7 AIR LIQUIDE FR AI FP 9.87 $1,375.01
B1Z9Q99 ABOITIZ POWER CORP PH AP PM 1,013.54 $739.80
B247XZ6 MANILA ELECTRIC COMPANY PH MER PM 98.15 $688.13
B3NB1P2 SUNCOR ENERGY INC CA SU CN 61.17 $1,789.01
B3ZCNF7 TELEFONICA BRASIL S.A. - PREF BR VIVT4 BZ 28.45 $368.60
B4975P9 MAGAZINE LUIZA SA BR MGLU3 BZ 28.45 $249.74
B4JSTL6 WYNN MACAU LTD MO 1128 HK 789.5 $1,573.35
B4P8HQ1 MGM CHINA HOLDINGS LTD MO 2282 HK 718.37 $1,072.83
B4R2R50 JULIUS BAER CH BAER SW 694.99 $27,584.47
B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 19.56 $200.79
B5B23W2 SANDS CHINA LTD MO 1928 HK 369.85 $1,674.42
B5VJH76 BDO UNIBANK INC PH BDO PM 371.81 $1,063.89
B63QM77 NEXON CO LTD JP 3659 JP 4,169.75 $56,269.04
B725S29 PUREGOLD PRICE CLUB INC PH PGOLD PM 408.97 $345.06
B7FQV64 RAIA DROGASIL S.A. BR RADL3 BZ 12.45 $278.13
B92RW83 LT GROUP INC PH LTG PM 1,299.82 $369.04
B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 42.68 $338.13
BB22L96 KION GROUP AG DE KGX GR 22.85 $1,107.30
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 25.34 $490.89
BD0PJ08 INMOBILIARIA COLONIAL SOCIMI ES COL SM 88.28 $1,019.61
BD4TZK8 OCI NV NL OCI NA 21.25 $466.22
BD9Y5C0 TECHNOGYM SPA IT TGYM IM 159.5 $1,616.58
BD9Y9B7 BASIC-FIT NV NL BFIT NA 55.57 $1,743.85
BF1K7P7 ESSITY AKTIEBOLAG-B SE ESSITYB SS 75.57 $2,360.71
BFTCYP4 ROBINSONS RETAIL HOLDINGS IN PH RRHI PM 228.14 $341.83
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 112.02 $1,217.62
BG7ZWY7 AMBEV SA BR ABEV3 BZ 264.94 $1,204.75
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 378.39 $610.49
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 1,884.83 $1,823.83
BJ2KSG2 AKZO NOBEL NL AKZA NA 603.31 $54,077.87
BJT1GR5 ALCON INC CH ALC SW 19.19 $1,166.73
BMJ6DW5 INFORMA PLC GB INF LN 217.11 $2,299.52
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 1,978.56 $81,685.83
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 238.63 $1,041.84
BNGN9Z1 FINECOBANK SPA IT FBK IM 2,983.1 $30,892.09
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 1,497.02 $46,323.38
BSQXJ01 THULE GROUP AB/THE SE THULE SS 111.13 $2,208.37
BVSS790 ELIS SA FR ELIS FP 39.12 $696.07
BYXS699 QIAGEN N.V. NL QIA GR 44.15 $1,538.64
BYXZ2W5 RUMO SA BR RAIL3 BZ 65.79 $353.50
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 570.3 $53,904.63
BYZFYS3 SPIE SA FR SPIE FP 19.29 $350.10
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 305.04 $1,429.03
BYZR014 AMUNDI SA FR AMUN FP 16.09 $1,028.73
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 1,103.52 $31,869.54
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 39.12 $1,078.12
G25839104 COCA-COLA EUROPEAN PARTNERS GB CCEP 41.43 $2,334.21
G29183103 EATON CORP PLC US ETN 6.93 $559.77
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 444.54 $460.09
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 71.21 $1,114.51
G50871105 JAZZ PHARMACEUTICALS IE JAZZ 18.05 $2,312.87
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 12.94 $552.62
G5960L103 MEDTRONIC INC IE MDT 989.95 $106,805.27
G97822103 PERRIGO CO PLC IE PRGO 30.85 $1,443.20
H01301128 ALCON INC CH ALC 453.16 $27,624.63
H1467J104 CHUBB LTD CH CB 4.29 $669.71
H8817H100 TRANSOCEAN LTD US RIG 4,951.77 $22,530.57
N22717107 CORE LABORATORIES N.V. NL CLB 822.21 $32,551.44
N47279109 INTERXION HOLDING NV NL INXN 365.85 $29,612.15
N53745100 LYONDELLBASELL INDU-CL A US LYB 6.45 $499.46
N72482123 QIAGEN N.V. ADR NL QGEN 1,123.54 $38,975.53
USD US DOLLAR US 100,236.06 $100,236.06

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.

Daily Price

$15.04

Daily $ Change

-$0.03

Daily % Change

-0.20%

as of 09/13/2019

CUSIP

302028824

Inception Date

10/06/2015

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 (or meet another investment goal) 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 2060
  • 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.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 08/31/2019

YTD

18.83%

1 Year

4.44%

3 Year

10.30%

5 Year

6.25%

10 Year

9.75%

Inception
(01/01/2000)

7.52%

US Stock Market Cycle (04/01/2000 - 08/31/2019)

7.67%

Performance through the inception date of the Retirement Target CIT Class I units is based on the historical performance of the CIT’s oldest unit class. Performance through the inception date of the oldest unit class (09/18/2015) 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. 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. 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.

Expense Ratio

Gross 0.80%
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 08/31/2019

TREASURY NOTES 8.99%
COCA COLA CO/THE 2.19%
BERKSHIRE HATHAWAY INC-CL B 2.17%
SERVICENOW INC 2.15%
MONDELEZ INTERNATIONAL INC 1.99%
JOHNSON & JOHNSON 1.94%
MEDTRONIC INC 1.81%
MASTERCARD INC-CLASS A 1.75%
MICROSOFT CORP 1.67%
LULULEMON - ADR 1.64%

This investment list is unaudited and excludes cash.

Asset Allocation

As of 08/31/2019

Stocks
83.85%
Bonds
14.48%
Cash
1.67%

Detailed Asset Class Allocation

As of 08/31/2019

International Equities
28.42%
Small Capitalization
2.01%
Mid Capitalization
2.76%
Large Capitalization
50.66%
Long Term Fixed Income
2.43%
Intermediate Term Fixed Income
9.18%
Short Term Fixed Income
2.87%
Cash
1.67%

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

August Fund Holdings

As of 08/31/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 266.72 $283.39
00101JAM8 ADT CORP 5.25000 03/15/2020 US 355.63 $359.19
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 5,334.43 $5,869.37
00287Y109 ABBVIE INC US ABBV 16.41 $1,078.94
004239109 ACADIA REALTY TRUST US AKR 12.09 $330.70
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 355.63 $327.52
00507V109 ACTIVISION INC US ATVI 988.65 $50,025.58
00751Y106 ADVANCE AUTO PARTS INC US AAP 327.71 $45,207.85
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 5,512.25 $5,911.53
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 355.63 $353.85
008492100 AGREE REALTY CORP US ADC 7.65 $571.08
013093AD1 ALBERTSONS COS LLC/SAFEW 5.75000 03/15/2025 US 355.63 $364.52
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 2.85 $426.30
01609W102 ALIBABA GROUP - ADR CN BABA 16.54 $2,894.42
020002101 ALLSTATE CORPORATION US ALL 3.98 $407.82
02079K107 ALPHABET INC-CL C US GOOG 47.39 $56,301.12
02079K305 ALPHABET INC-CL A US GOOGL 47.21 $56,204.58
02209S103 ALTRIA GROUP INC US MO 763.98 $33,416.46
023135106 AMAZON.COM INC US AMZN 38.05 $67,591.88
02319V103 AMBEV SA-ADR BR ABEV 12,291.68 $55,804.25
0237400 DIAGEO PLC GB DGE LN 1,133.3 $48,520.70
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 977.98 $979.45
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 12.89 $599.20
0263494 BAE SYSTEMS PLC GB BA/ LN 334.29 $2,223.07
02665T306 AMERICAN HOMES 4 RENT- A US AMH 79.04 $2,021.80
0287580 BRITISH AMERICAN TOBACCO PLC GB BATS LN 64.01 $2,245.47
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 800.16 $806.13
03027X100 AMERICAN TOWER REIT INC US AMT 278.46 $64,098.09
03064D108 AMERICOLD REALTY TRUST US COLD 33.34 $1,214.25
031162100 AMGEN INC US AMGN 7.33 $1,528.34
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 355.63 $322.73
03748R754 APARTMENT INVT & MGMT CO -A US AIV 27.12 $1,382.95
038222105 APPLIED MATERIALS INC US AMAT 10.38 $498.66
039483102 ARCHER-DANIELS-MIDLAND CO US ADM 7.57 $288.22
03968AAA9 ARD SECURITIES FINANCE 8.75000 01/31/2023 LU 185.58 $192.08
0405207 HALMA PLC GB HLMA LN 48.01 $1,151.48
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 355.63 $352.07
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912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 16,709.74 $18,338.87
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913017109 UNITED TECHNOLOGIES CORP US UTX 8.87 $1,155.61
91324P102 UNITEDHEALTH GROUP INC US UNH 175.33 $41,026.04
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92511U102 VERRA MOBILITY CORP US VRRM 5,610.13 $78,093.04
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 118.16 $21,270.74
92553P201 VIACOM INC CL B US VIAB 8.45 $210.99
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931142103 WAL MART STORES US WMT 23.1 $2,639.19
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94106L109 WASTE MANAGEMENT INC US WM 6.24 $744.90
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 622.35 $622.35
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958102105 WESTERN DIGITAL CORP US WDC 5.89 $337.07
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B02J639 ADMIRAL GROUP PLC GB ADM LN 49.17 $1,288.41
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 277.39 $2,277.54
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B058TZ6 SAFRAN SA FR SAF FP 8.09 $1,175.08
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B07DRZ5 RECORDATI SPA IT REC IM 50.41 $2,211.86
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B0C2CQ3 ENGIE FR ENGI FP 45.34 $689.42
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 49.79 $608.61
B0MP1B0 SHENZHOU INTERNATIONAL GROUP CN 2313 HK 129.8 $1,761.10
B11ZRK9 LEGRAND SA FR LR FP 6.58 $464.50
B13X013 EIFFAGE FR FGR FP 6.67 $690.96
B15C557 TOTAL SA FR FP FP 47.03 $2,348.70
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 162.26 $2,331.88
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 179.59 $1,056.06
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 24.63 $1,096.82
B1XH026 VINCI SA FR DG FP 20.72 $2,263.30
B1Y47Y7 GERRESHEIMER AG DE GXI GR 13.69 $1,034.64
B1Y9TB3 DANONE FR BN FP 56.42 $5,054.66
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 124.47 $1,032.48
B1YXBJ7 AIR LIQUIDE FR AI FP 9.87 $1,375.01
B1Z9Q99 ABOITIZ POWER CORP PH AP PM 1,013.54 $739.80
B247XZ6 MANILA ELECTRIC COMPANY PH MER PM 98.15 $688.13
B3NB1P2 SUNCOR ENERGY INC CA SU CN 61.17 $1,789.01
B3ZCNF7 TELEFONICA BRASIL S.A. - PREF BR VIVT4 BZ 28.45 $368.60
B4975P9 MAGAZINE LUIZA SA BR MGLU3 BZ 28.45 $249.74
B4JSTL6 WYNN MACAU LTD MO 1128 HK 789.5 $1,573.35
B4P8HQ1 MGM CHINA HOLDINGS LTD MO 2282 HK 718.37 $1,072.83
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B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 19.56 $200.79
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B5VJH76 BDO UNIBANK INC PH BDO PM 371.81 $1,063.89
B63QM77 NEXON CO LTD JP 3659 JP 4,169.75 $56,269.04
B725S29 PUREGOLD PRICE CLUB INC PH PGOLD PM 408.97 $345.06
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B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 42.68 $338.13
BB22L96 KION GROUP AG DE KGX GR 22.85 $1,107.30
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 25.34 $490.89
BD0PJ08 INMOBILIARIA COLONIAL SOCIMI ES COL SM 88.28 $1,019.61
BD4TZK8 OCI NV NL OCI NA 21.25 $466.22
BD9Y5C0 TECHNOGYM SPA IT TGYM IM 159.5 $1,616.58
BD9Y9B7 BASIC-FIT NV NL BFIT NA 55.57 $1,743.85
BF1K7P7 ESSITY AKTIEBOLAG-B SE ESSITYB SS 75.57 $2,360.71
BFTCYP4 ROBINSONS RETAIL HOLDINGS IN PH RRHI PM 228.14 $341.83
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 112.02 $1,217.62
BG7ZWY7 AMBEV SA BR ABEV3 BZ 264.94 $1,204.75
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 378.39 $610.49
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 1,884.83 $1,823.83
BJ2KSG2 AKZO NOBEL NL AKZA NA 603.31 $54,077.87
BJT1GR5 ALCON INC CH ALC SW 19.19 $1,166.73
BMJ6DW5 INFORMA PLC GB INF LN 217.11 $2,299.52
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 1,978.56 $81,685.83
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 238.63 $1,041.84
BNGN9Z1 FINECOBANK SPA IT FBK IM 2,983.1 $30,892.09
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 1,497.02 $46,323.38
BSQXJ01 THULE GROUP AB/THE SE THULE SS 111.13 $2,208.37
BVSS790 ELIS SA FR ELIS FP 39.12 $696.07
BYXS699 QIAGEN N.V. NL QIA GR 44.15 $1,538.64
BYXZ2W5 RUMO SA BR RAIL3 BZ 65.79 $353.50
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 570.3 $53,904.63
BYZFYS3 SPIE SA FR SPIE FP 19.29 $350.10
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 305.04 $1,429.03
BYZR014 AMUNDI SA FR AMUN FP 16.09 $1,028.73
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 1,103.52 $31,869.54
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 39.12 $1,078.12
G25839104 COCA-COLA EUROPEAN PARTNERS GB CCEP 41.43 $2,334.21
G29183103 EATON CORP PLC US ETN 6.93 $559.77
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 444.54 $460.09
G45667105 HOLLYSYS AUTOMATION TECHNOLOGIES CN HOLI 71.21 $1,114.51
G50871105 JAZZ PHARMACEUTICALS IE JAZZ 18.05 $2,312.87
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 12.94 $552.62
G5960L103 MEDTRONIC INC IE MDT 989.95 $106,805.27
G97822103 PERRIGO CO PLC IE PRGO 30.85 $1,443.20
H01301128 ALCON INC CH ALC 453.16 $27,624.63
H1467J104 CHUBB LTD CH CB 4.29 $669.71
H8817H100 TRANSOCEAN LTD US RIG 4,951.77 $22,530.57
N22717107 CORE LABORATORIES N.V. NL CLB 822.21 $32,551.44
N47279109 INTERXION HOLDING NV NL INXN 365.85 $29,612.15
N53745100 LYONDELLBASELL INDU-CL A US LYB 6.45 $499.46
N72482123 QIAGEN N.V. ADR NL QGEN 1,123.54 $38,975.53
USD US DOLLAR US 100,236.06 $100,236.06

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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