Collective Investment Trusts

Retirement Target Income CIT

Investment Objective

To provide capital preservation and manage risk for investors who have already reached their target date or who desire minimal capital risk as they move towards a future target date.

Investment Strategy

The portfolio is invested in a conservative mix of securities that seeks preservation of capital, with income and long-term capital growth as secondary objectives. The portfolio is diversified primarily among fixed income securities, typically focusing on short to intermediate-term maturities. A position in various stock investments, which may be focused on dividend paying stocks, adds potential for growth opportunities and income generation. For the most part, this approach favors stability over growth. Stock exposure can range from 13% - 47%.

May be Appropriate for Investors

  • Who have reached their target date or are already in retirement and seek to minimize declines in account value with potential for modest capital growth and income generation
  • Who have a future target date and want to assume a minimal amount of capital risk through limited stock exposure
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio

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

$20.60

Daily $ Change

$0.10

Daily % Change

0.49%

as of 04/23/2024

CUSIP

302027651

Inception Date

05/31/2007

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

Important Documents

Applications & Forms
Fact Sheet
Annual Report

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 03/31/2024

YTD

1.31%

1 Year

6.89%

3 Year

0.73%

5 Year

4.09%

10 Year

3.60%

Inception
(05/31/2007)

5.34%

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Performance through 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.

Expense Ratio

Gross 0.71%
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.

Asset Allocation

As of 03/31/2024

Bonds
72.62%
Stocks
25.95%
Cash
1.43%

Detailed Asset Class Allocation

As of 03/31/2024

International Equities
7.66%
Small Capitalization
0.16%
Mid Capitalization
1.53%
Large Capitalization
16.61%
Long Term Fixed Income
13.33%
Intermediate Term Fixed Income
46.69%
Short Term Fixed Income
12.59%
Cash
1.43%

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

Security Description Country Ticker Shares/Par Market Value (USD)
ADMIRAL GROUP PLC GB ADM LN 851.49 $30,515.64
ADMIRAL GROUP PLC ADR GB AMIGY 3,154.23 $112,921.47
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 167,739.37 $151,949.05
AGREE REALTY CORP US ADC 288.41 $16,474.20
AIR LIQUIDE FR AI FP 104.12 $21,662.28
AIRBUS SE FR AIR FP 136.24 $25,099.81
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 7,867.04 $8,008.65
ALCON INC CH ALC SW 62.15 $5,140.79
ALCON INC CH ALC 1,630.47 $135,801.79
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 92,982.23 $77,299.19
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 349,763.2 $303,853.57
ALPHABET INC-CL A US GOOGL 2,888.11 $435,902.29
AMAZON.COM INC US AMZN 3,628.56 $654,520.04
AMAZON.COM INC 3.30000 04/13/2027 US 67,322.74 $64,767.47
AMERICAN HOMES 4 RENT- A US AMH 464.83 $17,096.54
AMERICAN TOWER REIT INC US AMT 106.98 $21,137.93
AMERICOLD REALTY TRUST US COLD 369.48 $9,207.56
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 166,425.82 $156,501.86
ASTRAZENECA GB AZN 3,879 $262,802.46
ATLASSIAN CORP PLC-CLASS A AU TEAM 62.53 $12,199.76
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 3,043.59 $15,183.56
AUTO TRADER GROUP PLC GB AUTO LN 1,838.66 $16,237.05
AVALONBAY COMMUNITIES INC US AVB 122.32 $22,698.61
AVANZA BANK HOLDING AB SE AZA SS 385.95 $8,320.03
BAE SYSTEMS PLC GB BA/ LN 1,105.71 $18,847.22
BAE SYSTEMS PLC -SPON ADR GB BAESY 1,827.07 $126,707.30
BANK OF AMERICA CORP 2.68700 04/22/2032 US 272,110.65 $230,197.42
BEIERSDORF AG DE BEI GR 157.05 $22,866.35
BIOMARIN PHARMACEUTICAL INC US BMRN 2,149.72 $187,756.36
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 137,348.31 $136,393.68
BORR IHC LTD 10.00000 11/15/2028 MUL 63,093.22 $65,879.06
BRENNTAG AG DE BNR GR 118.7 $10,003.74
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 57,029.54 $40,176.94
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 97,898.91 $96,120.77
CANADIAN NATIONAL RAILWAY CO CA CNI 1,586.5 $208,957.48
CAPITAL ONE FINANCIAL CO 5.70000 02/01/2030 US 314,819.13 $317,464.79
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 26,714.53 $23,979.62
CELLNEX TELECOM SA ES CLNX SM 581.45 $20,568.74
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 686.46 $12,095.34
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 200,097.48 $220,939.82
CIM 2019-INV1 A1 4.00000 02/25/2049 US 3,061.58 $2,911.70
CITIGROUP INC 1.46200 06/09/2027 US 247,400.09 $227,303.20
CLARK CNTY NV 1.51000 11/01/2028 US 278,479.25 $239,952.64
CLEANAWAY WASTE MANAGEMENT AU CWY AU 9,987.95 $17,697.37
COCA COLA CO/THE US KO 5,687.74 $347,976.01
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 143,448.58 $128,641.46
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 139,301.33 $132,563.29
COLT 2024-INV1 A1 5.90300 12/25/2068 US 60,403.22 $60,127.03
CONSTELLATION BRANDS INC-A US STZ 645.6 $175,448.06
COPART INC US CPRT 3,845.84 $222,751.11
CROWN CASTLE INTL CORP US CCI 93.43 $9,887.51
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 32,544.03 $28,088.21
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 19,271.44 $16,047.53
CSX CORP US CSX 4,585.21 $169,973.90
DEUTSCHE BOERSE AG DE DB1 GR 155.37 $31,818.05
DEUTSCHE BOERSE AG ADR DE DBOEY 8,169.17 $166,896.16
DIAGEO PLC GB DGE LN 237.21 $8,777.24
DIGITAL REALTY TRUST INC US DLR 71.49 $10,298.04
DIGITALBRIDGE GROUP INC US DBRG 491.61 $9,473.30
DOLLARAMA INC CA DOL CN 182.12 $13,874.12
ELECTRONIC ARTS US EA 2,115.18 $280,620.76
ENERGY TRANSFER LP 7.37500 02/01/2031 US 148,740.63 $155,909.05
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 221,682.17 $235,583.72
EQUINIX INC US EQIX 103.8 $85,669.84
EQUITY COMMONWEALTH US EQC 452.33 $8,539.96
EQUITY LIFESTYLE PROPERTIES US ELS 303.98 $19,576.05
EQUITY RESIDENTIAL US EQR 188.46 $11,893.91
EVERGY INC US EVRG 3,181.21 $169,812.96
EXPERIAN PLC IE EXPN LN 403.61 $17,586.31
EXTRA SPACE STORAGE INC US EXR 136.2 $20,020.79
FEDERAL NATIONAL FS5443 MTGE 4.50000 06/01/2043 US 100,882.52 $97,539.96
FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 769.73 $814.45
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 5,818.29 $6,079.04
FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 667.67 $708.10
FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 126.53 $132.20
FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 2,650.39 $2,810.71
FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 1,633.89 $1,707.12
FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 422.13 $441.12
FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 696.01 $727.30
FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 284.22 $285.25
FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 325.96 $327.16
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 2,823.03 $2,949.55
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 3,747.59 $3,915.61
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 6.34 $6.31
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 8,009.4 $7,859.11
FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 18,413.33 $18,046.12
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 3,125.15 $3,063.02
FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 6,556.12 $6,425.78
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 24,543.15 $24,055.23
FEDERAL NATL MTG ASSN AL8674 FLT 5.64300 01/01/2049 US 91,134.3 $93,956.68
FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 49,209.96 $48,088.71
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 6,810.13 $6,222.07
FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 20,576.45 $19,444.74
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 18,854.9 $17,817.87
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 137,345.25 $123,598.38
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 226,451.59 $209,873.73
FEDERAL NATL MTG ASSN BW9887 5.00000 10/01/2052 US 196,972.88 $192,581.57
FEDERAL NATL MTG ASSN CA5518 3.00000 04/01/2050 US 265,315.27 $232,195.63
FEDERAL NATL MTG ASSN CB4831 4.50000 10/01/2052 US 224,069.79 $213,897.86
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 220,112.65 $200,631.39
FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 22,815.22 $22,142.20
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 16,819.35 $15,845.91
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 232,128.38 $219,732.27
FEDERAL NATL MTG ASSN FS2998 3.50000 04/01/2052 US 134,301.71 $121,732.58
FEDERAL NATL MTG ASSN FS4511 4.00000 08/01/2051 US 243,336.18 $228,703.20
FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 1,118.57 $1,098.49
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 23,241.51 $22,907.86
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 19,682.16 $19,400.00
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 251,520.8 $225,579.96
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 243,542.86 $225,713.79
FEDERAL NATL MTG ASSN SD4235 6.00000 11/01/2053 US 97,139.92 $98,640.01
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 233,133.65 $203,545.67
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 254,056.75 $248,195.82
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 255,448.17 $223,683.89
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 41,142.96 $39,981.69
FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 20,322.39 $19,180.90
FHLM POOL C91746 4.50000 12/01/2033 US 2,795.37 $2,758.62
FHLM POOL FG G08734 4.00000 11/01/2046 US 2,715.09 $2,569.04
FHLM POOL G03332 6.00000 10/01/2037 US 880.92 $921.57
FHLM POOL G05900 6.00000 03/01/2040 US 1,931.34 $2,020.48
FHLM POOL G05906 6.00000 04/01/2040 US 2,540.67 $2,657.93
FHLM POOL G06789 6.00000 05/01/2040 US 11,145.83 $11,660.25
FHLM POOL G06995 6.00000 05/01/2040 US 5,622.64 $5,882.14
FHLM POOL G60034 4.50000 02/01/2045 US 43,497.7 $42,559.12
FHLM POOL Q93451 4.50000 08/01/2040 US 34,245.15 $33,644.31
FHLM POOL SD8230 4.50000 06/01/2052 US 224,840.05 $214,696.37
FHR 5189 CP 2.50000 06/25/2049 US 72,868.71 $62,162.23
FINECOBANK SPA IT FBK IM 617.84 $9,253.24
FIRST INDUSTRIAL REALTY TR US FR 125.9 $6,614.63
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 587.71 $10,120.37
FLX 2021-1A A2 3.25000 11/27/2051 US 233,803.72 $211,897.04
FN DS2696 3.00000 12/01/2051 US 111,637.42 $97,326.23
FN FS4339 MTGE 3.00000 12/01/2050 US 286,671.57 $251,031.71
FN FS4616 MTGE 5.00000 05/01/2043 US 180,752.16 $179,676.73
FN FS4925 MTGE 3.50000 04/01/2052 US 350,707.82 $317,885.52
FN MA4020 MTGE 3.00000 05/01/2050 US 369,070.03 $321,757.65
FN MA4733 4.50000 09/01/2052 US 110,226.38 $105,161.13
FN MA4807 MTGE 5.50000 11/01/2052 US 202,546.74 $201,912.45
FN MA4868 MTGE 5.00000 01/01/2053 US 211,018.36 $206,150.31
FN MA4934 MTGE 5.00000 02/01/2043 US 326,611.41 $323,954.28
FNR 2018-31 KP 3.50000 07/25/2047 US 2,484.54 $2,417.40
FR QG6308 MTG 6.00000 07/01/2053 US 256,846 $260,209.94
FR RJ0062 MTGE 5.00000 10/01/2053 US 101,688.9 $99,585.78
FR SD1360 MTGE 5.50000 07/01/2052 US 322,135.22 $321,396.01
FREDDIE MAC POOL RB5167 3.50000 07/01/2042 US 133,873.33 $123,530.74
FREDDIE MAC POOL RB5188 4.00000 10/01/2042 US 134,463.85 $127,283.22
GLOBANT SA LU GLOB 73.16 $14,770.73
GNMA POOL 660997 5.50000 05/15/2037 US 3,941.05 $4,039.95
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 17,908.64 $16,216.83
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 22,801.94 $19,194.09
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 45,368.24 $37,321.66
GOODMAN GROUP AU GMG AU 422.19 $9,299.67
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 45,702.86 $39,451.08
GSMBS 2021-INV1 A9 5.00000 12/25/2051 US 81,105.37 $74,960.13
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 194,186.69 $170,973.55
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 95,482.4 $82,289.85
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 57,053.54 $48,992.61
HALMA PLC GB HLMA LN 897.05 $26,786.36
HAWAII ST 2.68200 10/01/2038 US 142,368.76 $110,358.40
HDFC BANK LTD-ADR IN HDB 4,547.05 $254,498.58
HEINEKEN NV NL HEIA NA 298.62 $28,788.84
HEINEKEN NV-SPN ADR NL HEINY 5,577.86 $269,577.90
HELIOS TOWERS PLC GB HTWS LN 6,088.46 $7,253.01
HOTWIRE FUNDING LLC 5.68700 05/20/2053 US 250,611.5 $245,401.71
HUMANA INC US HUM 309.64 $107,358.68
IMCD NV NL IMCD NA 158.15 $27,836.56
IMPRL 2021-NQM3 1.59500 11/25/2056 US 110,327.71 $91,582.21
INFRABUILD AUTRALIA PTY 14.50000 11/15/2028 AU 38,286.36 $39,704.86
INTERCONTINENTALEXCHANGE INC US ICE 1,217.4 $167,307.05
INTERMEDIATE CAPITAL GROUP GB ICP LN 705.72 $18,279.23
INTUITIVE SURGICAL INC US ISRG 319.43 $127,482.29
INVITATION HOMES INC US INVH 825.18 $29,384.67
ISHARES BROAD USD HIGH YIELD 2.43400 US 26,120.85 $955,761.97
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 34,056.84 $33,467.56
JAPAN (2 YEAR ISSUE) 0.10000 01/01/2026 JP 22,145,171.47 $146,108.71
JOHNSON & JOHNSON US JNJ 2,043.16 $323,207.66
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 19,441.65 $18,633.37
JPMMT 2019-INV3 A3 MTGE 3.50000 05/25/2050 US 223,874.83 $195,201.19
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 393,434.63 $380,519.03
KEYENCE CORP JP 6861 JP 52.13 $24,202.15
KEYWORDS STUDIOS PLC IE KWS LN 636.14 $10,453.83
L'OREAL FR OR FP 9.82 $4,650.56
L3HARRIS TECHNOLOGIES INC US LHX 1,571.92 $334,976.77
LEXINGTON REALTY TRUST US LXP 2,041.78 $18,416.86
LONZA GROUP AG -REG CH LONN SW 41.73 $24,934.77
LONZA GROUP AG ADR CH LZAGY 530.51 $31,783.15
MARRIOTT VACATIONS WORLD US VAC 80.36 $8,657.25
MASCO CORP US MAS 1,615.67 $127,443.90
MASSMUTUAL GLOBAL FUNDING 4.85000 01/17/2029 US 77,150.5 $76,762.45
MASTERCARD INC-CLASS A US MA 1,011.78 $487,242.05
MEDTRONIC INC IE MDT 1,487.03 $129,594.54
MERCADOLIBRE INC BR MELI 13.61 $20,581.34
MET LIFE GLOB FUNDING I 4.85000 01/08/2029 US 77,150.5 $76,593.86
META PLATFORMS INC US META 619 $300,573.26
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 127,231.66 $7,053.97
MICRON TECHNOLOGY INC US MU 3,285.53 $387,330.68
MICROSOFT CORP US MSFT 471.22 $198,250.07
MID-AMERICA APARTMENT COMM US MAA 51.94 $6,833.62
MONARCH CASINO & RESORT INC US MCRI 145.89 $10,940.46
MONDELEZ INTERNATIONAL INC US MDLZ 1,544.61 $108,123.02
MOODY'S CORPORATION US MCO 591.56 $232,502.07
NAVIENT CORP 6.75000 06/25/2025 US 40,738.16 $40,998.01
NESTLE S.A. - ADR CH NSRGY 2,404.92 $255,402.22
NESTLE SA-REGISTERED CH NESN SW 243.78 $25,901.74
NEW FORTRESS ENERGY INC 8.75000 03/15/2029 US 41,993.27 $41,849.06
NEW YORK LIFE GLOBAL FDG 4.70000 01/29/2029 US 77,150.5 $76,345.93
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 156,377.66 $147,964.24
NORTHROP GRUMMAN CORP US NOC 357.91 $171,318.71
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 48,788.19 $0.49
NOVARTIS AG- REG CH NVS 1,350.96 $130,678.66
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 137,272.58 $145,134.95
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 33,518.06 $31,270.79
NRZT 2015-2A A1 3.75000 08/25/2055 US 37,286.77 $34,640.87
NRZT 2016-4A A1 3.75000 11/25/2056 US 59,088.83 $54,859.84
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 44,805.35 $40,632.16
OASIS 2023-1A 7.00000 02/15/2035 US 65,741.94 $65,618.22
OBX 2022-INV1 A1 3.00000 12/25/2051 US 59,158.29 $49,631.07
OBX 2024-NQM1 A1 5.92800 11/25/2063 US 77,455.41 $77,484.97
OPEN INFRA IS ASSETS AB 11.00000 02/22/2027 US 64,097.31 $63,778.49
OXFIN 2020-1A A2 3.10100 02/15/2028 US 31,314.99 $30,418.93
OXFIN 2022-1A 3.60200 02/15/2030 US 209,293.19 $199,952.60
OXFIN 2023-1A A2 6.71600 02/15/2031 US 202,263.66 $203,840.18
OXFINF 2024-A A2 6.67500 01/14/2032 US 22,994.54 $22,854.28
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 281,264.34 $294,995.51
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 127,052.72 $122,731.81
PEAR 2023-1A 7.42000 07/15/2035 US 118,878.05 $120,149.74
PEAR 2024-1 A 6.95000 02/15/2036 US 72,256.81 $72,367.01
PELORUS FUND REIT 7.00000 09/30/2026 US 25,869.38 $25,366.87
PEPSICO INC 3.90000 07/18/2032 US 314,585.41 $298,116.53
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 203,854.02 $165,236.08
PFMT 2021-2 A2A 2.00000 04/25/2051 US 122,905.35 $102,952.20
PHILIP MORRIS INTERNATIONAL US PM 3,124.96 $286,309.07
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 10,334.02 $9,374.94
PROLOGIS US PLD 597.95 $77,865.16
PUBLIC STORAGE INC US PSA 105.01 $30,460.13
QUALCOMM 5.40000 05/20/2033 US 140,849.54 $147,871.12
QUALCOMM INC 4.25000 05/20/2032 US 180,379.32 $174,077.32
RCKT 2021-6 A1 2.50000 12/25/2051 US 176,758 $141,769.95
REALTY INCOME CORP US O 269.24 $14,566.13
REXFORD INDUSTRIAL REALITY IN US REXR 456.61 $22,967.35
S&P GLOBAL INC US SPGI 368.39 $156,730.66
SBA COMMUNICATIONS CORP US SBAC 143.72 $31,143.76
SBA TOWER TRUST 1.88400 01/15/2026 US 86,853.91 $81,090.23
SBA TOWER TRUST 6.59900 01/15/2028 US 202,955.02 $208,013.47
SCML 2019-SBC8 2.86000 04/25/2041 US 45,585.71 $42,329.75
SEMT 2013-2 1.87400 02/25/2043 US 17,238.75 $14,557.81
SEMT 2013-6 A2 3.00000 05/25/2043 US 33,802.09 $29,844.29
SEMT 2013-7 A2 3.00000 06/25/2043 US 19,222.91 $16,800.00
SEMT 2013-8 A1 3.00000 06/25/2043 US 22,862.82 $20,277.94
SERVICENOW INC US NOW 156.11 $119,015.09
SIMON PROPERTY 2.25000 01/15/2032 US 176,769.65 $144,691.02
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 375,367.53 $316,595.55
SIRIUSPOINT LTD 7.00000 04/05/2029 BM 146,134.1 $145,909.06
SLMA 2006-10 A6 FLT 5.77250 03/25/2044 US 16,617.83 $16,079.06
SLMA 2008-3 A3 6.62250 10/25/2021 US 286,450.39 $284,309.31
SLMA 2008-4 A4 7.27250 07/25/2022 US 282,519.85 $285,417.95
SMB 2019-B A2A 2.84000 06/15/2037 US 67,916.76 $64,742.72
SMB 2020-BA A1A 1.29000 07/15/2053 US 91,970.78 $83,886.51
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 13,185.17 $12,894.73
SONY CORP FIRST SECTION JP 6758 JP 241.74 $20,729.31
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 120,516.42 $112,678.32
SORT 2020-1 A2 1.99000 07/15/2060 US 97,306.87 $83,677.10
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 63,822.45 $58,482.88
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 38,657.52 $34,222.47
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 247,266.38 $175,557.62
STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 62,535.06 $57,703.52
SUN COMMUNITIES US SUI 230.05 $29,579.72
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 3,015.78 $410,296.97
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 2,031.23 $27,600.06
TECHTRONIC INDUSTRIES-SP ADR HK TTNDY 1,761.58 $119,761.29
TENCENT HOLDINGS 3.97500 04/11/2029 KY 606,894.75 $576,871.42
TENCENT HOLDINGS LTD CN 700 HK 641.8 $24,997.91
TERRENO REALTY CORP US TRNO 302.99 $20,118.38
THERMO FISHER SCIENTIFIC INC US TMO 214.85 $124,874.30
TPMT 2016-5 A1 2.50000 10/25/2056 US 2,076.4 $2,067.67
TPMT 2017-1 A1 2.75000 10/25/2056 US 458.39 $456.45
TPMT 2019-HY1 A1 6.44389 10/25/2048 US 23,291.03 $23,632.17
TREASURY BOND 2.37500 02/15/2042 US 1,737,227.94 $1,294,234.82
TREASURY NOTE 2.25000 11/15/2027 US 1,586,730.29 $1,476,650.88
TSY INFL IX N/B 0.12500 01/15/2031 US 268,855.79 $239,590.78
TSY INFL IX N/B 2.37500 01/15/2027 US 809,344.82 $816,164.42
UDR INC US UDR 197.15 $7,375.30
UNION PAC CORP US UNP 514.81 $126,607.11
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 6,107.99 $5,852.23
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 33,853.59 $31,273.86
UNITED STATES TREAS NTS 2.25000 11/15/2024 US 781,714.96 $767,576.91
UNITEDHEALTH GROUP INC US UNH 224.66 $111,138.30
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 12,551.14 $10,689.42
US DOLLAR US 608,044.11 $608,044.11
US TEASURY NOTE 1.75000 11/15/2029 US 1,804,973.58 $1,590,209.94
US TREASURY N/B 0.87500 11/15/2030 US 1,137,782.67 $921,959.52
US TREASURY N/B 2.00000 11/15/2026 US 902,317.38 $847,332.41
US TREASURY N/B 2.25000 11/15/2025 US 1,913,341.88 $1,838,303.01
US TREASURY N/B 3.12500 11/15/2028 US 586,066.14 $558,548.51
US TREASURY N/B 3.62500 02/15/2053 US 264,728.7 $232,919.89
US TREASURY N/B 4.12500 11/15/2032 US 1,046,815.49 $1,040,763.58
VENTAS INC US VTR 226.9 $9,879.14
VERTEX PHARMACEUTICALS INC US VRTX 389.98 $163,014.19
VISA INC - CLASS A SHARES US V 1,174.89 $327,888.61
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 241,451.27 $226,011.80
WELLTOWER INC. US WELL 299.33 $27,969.81
WIN 2015-1 A1 3.50000 01/20/2045 US 12,899.56 $11,669.54

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Conservative Term CIT Fund. Investments will change over time. 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 over 50 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

$20.60

Daily $ Change

$0.10

Daily % Change

0.49%

as of 04/23/2024

CUSIP

302027651

Inception Date

05/31/2007

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

Important Documents

Applications & Forms
Fact Sheet
Annual Report

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 preservation and manage risk for investors who have already reached their target date or who desire minimal capital risk as they move towards a future target date.

Investment Strategy

The portfolio is invested in a conservative mix of securities that seeks preservation of capital, with income and long-term capital growth as secondary objectives. The portfolio is diversified primarily among fixed income securities, typically focusing on short to intermediate-term maturities. A position in various stock investments, which may be focused on dividend paying stocks, adds potential for growth opportunities and income generation. For the most part, this approach favors stability over growth. Stock exposure can range from 13% - 47%.

May be Appropriate for Investors

  • Who have reached their target date or are already in retirement and seek to minimize declines in account value with potential for modest capital growth and income generation
  • Who have a future target date and want to assume a minimal amount of capital risk through limited stock exposure
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio

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

Performance

As of 03/31/2024

YTD

1.31%

1 Year

6.89%

3 Year

0.73%

5 Year

4.09%

10 Year

3.60%

Inception
(05/31/2007)

5.34%

Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. Your investment may fluctuate in value and there is a potential for loss as well as profit.

Performance through 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.

Expense Ratio

Gross 0.71%
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.

Asset Allocation

As of 03/31/2024

Bonds
72.62%
Stocks
25.95%
Cash
1.43%

Detailed Asset Class Allocation

As of 03/31/2024

International Equities
7.66%
Small Capitalization
0.16%
Mid Capitalization
1.53%
Large Capitalization
16.61%
Long Term Fixed Income
13.33%
Intermediate Term Fixed Income
46.69%
Short Term Fixed Income
12.59%
Cash
1.43%

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

Security Description Country Ticker Shares/Par Market Value (USD)
ADMIRAL GROUP PLC GB ADM LN 851.49 $30,515.64
ADMIRAL GROUP PLC ADR GB AMIGY 3,154.23 $112,921.47
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 167,739.37 $151,949.05
AGREE REALTY CORP US ADC 288.41 $16,474.20
AIR LIQUIDE FR AI FP 104.12 $21,662.28
AIRBUS SE FR AIR FP 136.24 $25,099.81
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 7,867.04 $8,008.65
ALCON INC CH ALC SW 62.15 $5,140.79
ALCON INC CH ALC 1,630.47 $135,801.79
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 92,982.23 $77,299.19
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 349,763.2 $303,853.57
ALPHABET INC-CL A US GOOGL 2,888.11 $435,902.29
AMAZON.COM INC US AMZN 3,628.56 $654,520.04
AMAZON.COM INC 3.30000 04/13/2027 US 67,322.74 $64,767.47
AMERICAN HOMES 4 RENT- A US AMH 464.83 $17,096.54
AMERICAN TOWER REIT INC US AMT 106.98 $21,137.93
AMERICOLD REALTY TRUST US COLD 369.48 $9,207.56
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 166,425.82 $156,501.86
ASTRAZENECA GB AZN 3,879 $262,802.46
ATLASSIAN CORP PLC-CLASS A AU TEAM 62.53 $12,199.76
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 3,043.59 $15,183.56
AUTO TRADER GROUP PLC GB AUTO LN 1,838.66 $16,237.05
AVALONBAY COMMUNITIES INC US AVB 122.32 $22,698.61
AVANZA BANK HOLDING AB SE AZA SS 385.95 $8,320.03
BAE SYSTEMS PLC GB BA/ LN 1,105.71 $18,847.22
BAE SYSTEMS PLC -SPON ADR GB BAESY 1,827.07 $126,707.30
BANK OF AMERICA CORP 2.68700 04/22/2032 US 272,110.65 $230,197.42
BEIERSDORF AG DE BEI GR 157.05 $22,866.35
BIOMARIN PHARMACEUTICAL INC US BMRN 2,149.72 $187,756.36
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 137,348.31 $136,393.68
BORR IHC LTD 10.00000 11/15/2028 MUL 63,093.22 $65,879.06
BRENNTAG AG DE BNR GR 118.7 $10,003.74
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 57,029.54 $40,176.94
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 97,898.91 $96,120.77
CANADIAN NATIONAL RAILWAY CO CA CNI 1,586.5 $208,957.48
CAPITAL ONE FINANCIAL CO 5.70000 02/01/2030 US 314,819.13 $317,464.79
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 26,714.53 $23,979.62
CELLNEX TELECOM SA ES CLNX SM 581.45 $20,568.74
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 686.46 $12,095.34
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 200,097.48 $220,939.82
CIM 2019-INV1 A1 4.00000 02/25/2049 US 3,061.58 $2,911.70
CITIGROUP INC 1.46200 06/09/2027 US 247,400.09 $227,303.20
CLARK CNTY NV 1.51000 11/01/2028 US 278,479.25 $239,952.64
CLEANAWAY WASTE MANAGEMENT AU CWY AU 9,987.95 $17,697.37
COCA COLA CO/THE US KO 5,687.74 $347,976.01
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 143,448.58 $128,641.46
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 139,301.33 $132,563.29
COLT 2024-INV1 A1 5.90300 12/25/2068 US 60,403.22 $60,127.03
CONSTELLATION BRANDS INC-A US STZ 645.6 $175,448.06
COPART INC US CPRT 3,845.84 $222,751.11
CROWN CASTLE INTL CORP US CCI 93.43 $9,887.51
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 32,544.03 $28,088.21
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 19,271.44 $16,047.53
CSX CORP US CSX 4,585.21 $169,973.90
DEUTSCHE BOERSE AG DE DB1 GR 155.37 $31,818.05
DEUTSCHE BOERSE AG ADR DE DBOEY 8,169.17 $166,896.16
DIAGEO PLC GB DGE LN 237.21 $8,777.24
DIGITAL REALTY TRUST INC US DLR 71.49 $10,298.04
DIGITALBRIDGE GROUP INC US DBRG 491.61 $9,473.30
DOLLARAMA INC CA DOL CN 182.12 $13,874.12
ELECTRONIC ARTS US EA 2,115.18 $280,620.76
ENERGY TRANSFER LP 7.37500 02/01/2031 US 148,740.63 $155,909.05
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 221,682.17 $235,583.72
EQUINIX INC US EQIX 103.8 $85,669.84
EQUITY COMMONWEALTH US EQC 452.33 $8,539.96
EQUITY LIFESTYLE PROPERTIES US ELS 303.98 $19,576.05
EQUITY RESIDENTIAL US EQR 188.46 $11,893.91
EVERGY INC US EVRG 3,181.21 $169,812.96
EXPERIAN PLC IE EXPN LN 403.61 $17,586.31
EXTRA SPACE STORAGE INC US EXR 136.2 $20,020.79
FEDERAL NATIONAL FS5443 MTGE 4.50000 06/01/2043 US 100,882.52 $97,539.96
FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 769.73 $814.45
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 5,818.29 $6,079.04
FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 667.67 $708.10
FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 126.53 $132.20
FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 2,650.39 $2,810.71
FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 1,633.89 $1,707.12
FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 422.13 $441.12
FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 696.01 $727.30
FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 284.22 $285.25
FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 325.96 $327.16
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 2,823.03 $2,949.55
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 3,747.59 $3,915.61
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 6.34 $6.31
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 8,009.4 $7,859.11
FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 18,413.33 $18,046.12
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 3,125.15 $3,063.02
FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 6,556.12 $6,425.78
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 24,543.15 $24,055.23
FEDERAL NATL MTG ASSN AL8674 FLT 5.64300 01/01/2049 US 91,134.3 $93,956.68
FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 49,209.96 $48,088.71
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 6,810.13 $6,222.07
FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 20,576.45 $19,444.74
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 18,854.9 $17,817.87
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 137,345.25 $123,598.38
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 226,451.59 $209,873.73
FEDERAL NATL MTG ASSN BW9887 5.00000 10/01/2052 US 196,972.88 $192,581.57
FEDERAL NATL MTG ASSN CA5518 3.00000 04/01/2050 US 265,315.27 $232,195.63
FEDERAL NATL MTG ASSN CB4831 4.50000 10/01/2052 US 224,069.79 $213,897.86
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 220,112.65 $200,631.39
FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 22,815.22 $22,142.20
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 16,819.35 $15,845.91
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 232,128.38 $219,732.27
FEDERAL NATL MTG ASSN FS2998 3.50000 04/01/2052 US 134,301.71 $121,732.58
FEDERAL NATL MTG ASSN FS4511 4.00000 08/01/2051 US 243,336.18 $228,703.20
FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 1,118.57 $1,098.49
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 23,241.51 $22,907.86
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 19,682.16 $19,400.00
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 251,520.8 $225,579.96
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 243,542.86 $225,713.79
FEDERAL NATL MTG ASSN SD4235 6.00000 11/01/2053 US 97,139.92 $98,640.01
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 233,133.65 $203,545.67
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 254,056.75 $248,195.82
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 255,448.17 $223,683.89
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 41,142.96 $39,981.69
FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 20,322.39 $19,180.90
FHLM POOL C91746 4.50000 12/01/2033 US 2,795.37 $2,758.62
FHLM POOL FG G08734 4.00000 11/01/2046 US 2,715.09 $2,569.04
FHLM POOL G03332 6.00000 10/01/2037 US 880.92 $921.57
FHLM POOL G05900 6.00000 03/01/2040 US 1,931.34 $2,020.48
FHLM POOL G05906 6.00000 04/01/2040 US 2,540.67 $2,657.93
FHLM POOL G06789 6.00000 05/01/2040 US 11,145.83 $11,660.25
FHLM POOL G06995 6.00000 05/01/2040 US 5,622.64 $5,882.14
FHLM POOL G60034 4.50000 02/01/2045 US 43,497.7 $42,559.12
FHLM POOL Q93451 4.50000 08/01/2040 US 34,245.15 $33,644.31
FHLM POOL SD8230 4.50000 06/01/2052 US 224,840.05 $214,696.37
FHR 5189 CP 2.50000 06/25/2049 US 72,868.71 $62,162.23
FINECOBANK SPA IT FBK IM 617.84 $9,253.24
FIRST INDUSTRIAL REALTY TR US FR 125.9 $6,614.63
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 587.71 $10,120.37
FLX 2021-1A A2 3.25000 11/27/2051 US 233,803.72 $211,897.04
FN DS2696 3.00000 12/01/2051 US 111,637.42 $97,326.23
FN FS4339 MTGE 3.00000 12/01/2050 US 286,671.57 $251,031.71
FN FS4616 MTGE 5.00000 05/01/2043 US 180,752.16 $179,676.73
FN FS4925 MTGE 3.50000 04/01/2052 US 350,707.82 $317,885.52
FN MA4020 MTGE 3.00000 05/01/2050 US 369,070.03 $321,757.65
FN MA4733 4.50000 09/01/2052 US 110,226.38 $105,161.13
FN MA4807 MTGE 5.50000 11/01/2052 US 202,546.74 $201,912.45
FN MA4868 MTGE 5.00000 01/01/2053 US 211,018.36 $206,150.31
FN MA4934 MTGE 5.00000 02/01/2043 US 326,611.41 $323,954.28
FNR 2018-31 KP 3.50000 07/25/2047 US 2,484.54 $2,417.40
FR QG6308 MTG 6.00000 07/01/2053 US 256,846 $260,209.94
FR RJ0062 MTGE 5.00000 10/01/2053 US 101,688.9 $99,585.78
FR SD1360 MTGE 5.50000 07/01/2052 US 322,135.22 $321,396.01
FREDDIE MAC POOL RB5167 3.50000 07/01/2042 US 133,873.33 $123,530.74
FREDDIE MAC POOL RB5188 4.00000 10/01/2042 US 134,463.85 $127,283.22
GLOBANT SA LU GLOB 73.16 $14,770.73
GNMA POOL 660997 5.50000 05/15/2037 US 3,941.05 $4,039.95
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 17,908.64 $16,216.83
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 22,801.94 $19,194.09
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 45,368.24 $37,321.66
GOODMAN GROUP AU GMG AU 422.19 $9,299.67
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 45,702.86 $39,451.08
GSMBS 2021-INV1 A9 5.00000 12/25/2051 US 81,105.37 $74,960.13
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 194,186.69 $170,973.55
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 95,482.4 $82,289.85
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 57,053.54 $48,992.61
HALMA PLC GB HLMA LN 897.05 $26,786.36
HAWAII ST 2.68200 10/01/2038 US 142,368.76 $110,358.40
HDFC BANK LTD-ADR IN HDB 4,547.05 $254,498.58
HEINEKEN NV NL HEIA NA 298.62 $28,788.84
HEINEKEN NV-SPN ADR NL HEINY 5,577.86 $269,577.90
HELIOS TOWERS PLC GB HTWS LN 6,088.46 $7,253.01
HOTWIRE FUNDING LLC 5.68700 05/20/2053 US 250,611.5 $245,401.71
HUMANA INC US HUM 309.64 $107,358.68
IMCD NV NL IMCD NA 158.15 $27,836.56
IMPRL 2021-NQM3 1.59500 11/25/2056 US 110,327.71 $91,582.21
INFRABUILD AUTRALIA PTY 14.50000 11/15/2028 AU 38,286.36 $39,704.86
INTERCONTINENTALEXCHANGE INC US ICE 1,217.4 $167,307.05
INTERMEDIATE CAPITAL GROUP GB ICP LN 705.72 $18,279.23
INTUITIVE SURGICAL INC US ISRG 319.43 $127,482.29
INVITATION HOMES INC US INVH 825.18 $29,384.67
ISHARES BROAD USD HIGH YIELD 2.43400 US 26,120.85 $955,761.97
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 34,056.84 $33,467.56
JAPAN (2 YEAR ISSUE) 0.10000 01/01/2026 JP 22,145,171.47 $146,108.71
JOHNSON & JOHNSON US JNJ 2,043.16 $323,207.66
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 19,441.65 $18,633.37
JPMMT 2019-INV3 A3 MTGE 3.50000 05/25/2050 US 223,874.83 $195,201.19
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 393,434.63 $380,519.03
KEYENCE CORP JP 6861 JP 52.13 $24,202.15
KEYWORDS STUDIOS PLC IE KWS LN 636.14 $10,453.83
L'OREAL FR OR FP 9.82 $4,650.56
L3HARRIS TECHNOLOGIES INC US LHX 1,571.92 $334,976.77
LEXINGTON REALTY TRUST US LXP 2,041.78 $18,416.86
LONZA GROUP AG -REG CH LONN SW 41.73 $24,934.77
LONZA GROUP AG ADR CH LZAGY 530.51 $31,783.15
MARRIOTT VACATIONS WORLD US VAC 80.36 $8,657.25
MASCO CORP US MAS 1,615.67 $127,443.90
MASSMUTUAL GLOBAL FUNDING 4.85000 01/17/2029 US 77,150.5 $76,762.45
MASTERCARD INC-CLASS A US MA 1,011.78 $487,242.05
MEDTRONIC INC IE MDT 1,487.03 $129,594.54
MERCADOLIBRE INC BR MELI 13.61 $20,581.34
MET LIFE GLOB FUNDING I 4.85000 01/08/2029 US 77,150.5 $76,593.86
META PLATFORMS INC US META 619 $300,573.26
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 127,231.66 $7,053.97
MICRON TECHNOLOGY INC US MU 3,285.53 $387,330.68
MICROSOFT CORP US MSFT 471.22 $198,250.07
MID-AMERICA APARTMENT COMM US MAA 51.94 $6,833.62
MONARCH CASINO & RESORT INC US MCRI 145.89 $10,940.46
MONDELEZ INTERNATIONAL INC US MDLZ 1,544.61 $108,123.02
MOODY'S CORPORATION US MCO 591.56 $232,502.07
NAVIENT CORP 6.75000 06/25/2025 US 40,738.16 $40,998.01
NESTLE S.A. - ADR CH NSRGY 2,404.92 $255,402.22
NESTLE SA-REGISTERED CH NESN SW 243.78 $25,901.74
NEW FORTRESS ENERGY INC 8.75000 03/15/2029 US 41,993.27 $41,849.06
NEW YORK LIFE GLOBAL FDG 4.70000 01/29/2029 US 77,150.5 $76,345.93
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 156,377.66 $147,964.24
NORTHROP GRUMMAN CORP US NOC 357.91 $171,318.71
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 48,788.19 $0.49
NOVARTIS AG- REG CH NVS 1,350.96 $130,678.66
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 137,272.58 $145,134.95
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 33,518.06 $31,270.79
NRZT 2015-2A A1 3.75000 08/25/2055 US 37,286.77 $34,640.87
NRZT 2016-4A A1 3.75000 11/25/2056 US 59,088.83 $54,859.84
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 44,805.35 $40,632.16
OASIS 2023-1A 7.00000 02/15/2035 US 65,741.94 $65,618.22
OBX 2022-INV1 A1 3.00000 12/25/2051 US 59,158.29 $49,631.07
OBX 2024-NQM1 A1 5.92800 11/25/2063 US 77,455.41 $77,484.97
OPEN INFRA IS ASSETS AB 11.00000 02/22/2027 US 64,097.31 $63,778.49
OXFIN 2020-1A A2 3.10100 02/15/2028 US 31,314.99 $30,418.93
OXFIN 2022-1A 3.60200 02/15/2030 US 209,293.19 $199,952.60
OXFIN 2023-1A A2 6.71600 02/15/2031 US 202,263.66 $203,840.18
OXFINF 2024-A A2 6.67500 01/14/2032 US 22,994.54 $22,854.28
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 281,264.34 $294,995.51
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 127,052.72 $122,731.81
PEAR 2023-1A 7.42000 07/15/2035 US 118,878.05 $120,149.74
PEAR 2024-1 A 6.95000 02/15/2036 US 72,256.81 $72,367.01
PELORUS FUND REIT 7.00000 09/30/2026 US 25,869.38 $25,366.87
PEPSICO INC 3.90000 07/18/2032 US 314,585.41 $298,116.53
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 203,854.02 $165,236.08
PFMT 2021-2 A2A 2.00000 04/25/2051 US 122,905.35 $102,952.20
PHILIP MORRIS INTERNATIONAL US PM 3,124.96 $286,309.07
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 10,334.02 $9,374.94
PROLOGIS US PLD 597.95 $77,865.16
PUBLIC STORAGE INC US PSA 105.01 $30,460.13
QUALCOMM 5.40000 05/20/2033 US 140,849.54 $147,871.12
QUALCOMM INC 4.25000 05/20/2032 US 180,379.32 $174,077.32
RCKT 2021-6 A1 2.50000 12/25/2051 US 176,758 $141,769.95
REALTY INCOME CORP US O 269.24 $14,566.13
REXFORD INDUSTRIAL REALITY IN US REXR 456.61 $22,967.35
S&P GLOBAL INC US SPGI 368.39 $156,730.66
SBA COMMUNICATIONS CORP US SBAC 143.72 $31,143.76
SBA TOWER TRUST 1.88400 01/15/2026 US 86,853.91 $81,090.23
SBA TOWER TRUST 6.59900 01/15/2028 US 202,955.02 $208,013.47
SCML 2019-SBC8 2.86000 04/25/2041 US 45,585.71 $42,329.75
SEMT 2013-2 1.87400 02/25/2043 US 17,238.75 $14,557.81
SEMT 2013-6 A2 3.00000 05/25/2043 US 33,802.09 $29,844.29
SEMT 2013-7 A2 3.00000 06/25/2043 US 19,222.91 $16,800.00
SEMT 2013-8 A1 3.00000 06/25/2043 US 22,862.82 $20,277.94
SERVICENOW INC US NOW 156.11 $119,015.09
SIMON PROPERTY 2.25000 01/15/2032 US 176,769.65 $144,691.02
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 375,367.53 $316,595.55
SIRIUSPOINT LTD 7.00000 04/05/2029 BM 146,134.1 $145,909.06
SLMA 2006-10 A6 FLT 5.77250 03/25/2044 US 16,617.83 $16,079.06
SLMA 2008-3 A3 6.62250 10/25/2021 US 286,450.39 $284,309.31
SLMA 2008-4 A4 7.27250 07/25/2022 US 282,519.85 $285,417.95
SMB 2019-B A2A 2.84000 06/15/2037 US 67,916.76 $64,742.72
SMB 2020-BA A1A 1.29000 07/15/2053 US 91,970.78 $83,886.51
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 13,185.17 $12,894.73
SONY CORP FIRST SECTION JP 6758 JP 241.74 $20,729.31
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 120,516.42 $112,678.32
SORT 2020-1 A2 1.99000 07/15/2060 US 97,306.87 $83,677.10
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 63,822.45 $58,482.88
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 38,657.52 $34,222.47
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 247,266.38 $175,557.62
STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 62,535.06 $57,703.52
SUN COMMUNITIES US SUI 230.05 $29,579.72
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 3,015.78 $410,296.97
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 2,031.23 $27,600.06
TECHTRONIC INDUSTRIES-SP ADR HK TTNDY 1,761.58 $119,761.29
TENCENT HOLDINGS 3.97500 04/11/2029 KY 606,894.75 $576,871.42
TENCENT HOLDINGS LTD CN 700 HK 641.8 $24,997.91
TERRENO REALTY CORP US TRNO 302.99 $20,118.38
THERMO FISHER SCIENTIFIC INC US TMO 214.85 $124,874.30
TPMT 2016-5 A1 2.50000 10/25/2056 US 2,076.4 $2,067.67
TPMT 2017-1 A1 2.75000 10/25/2056 US 458.39 $456.45
TPMT 2019-HY1 A1 6.44389 10/25/2048 US 23,291.03 $23,632.17
TREASURY BOND 2.37500 02/15/2042 US 1,737,227.94 $1,294,234.82
TREASURY NOTE 2.25000 11/15/2027 US 1,586,730.29 $1,476,650.88
TSY INFL IX N/B 0.12500 01/15/2031 US 268,855.79 $239,590.78
TSY INFL IX N/B 2.37500 01/15/2027 US 809,344.82 $816,164.42
UDR INC US UDR 197.15 $7,375.30
UNION PAC CORP US UNP 514.81 $126,607.11
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 6,107.99 $5,852.23
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 33,853.59 $31,273.86
UNITED STATES TREAS NTS 2.25000 11/15/2024 US 781,714.96 $767,576.91
UNITEDHEALTH GROUP INC US UNH 224.66 $111,138.30
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 12,551.14 $10,689.42
US DOLLAR US 608,044.11 $608,044.11
US TEASURY NOTE 1.75000 11/15/2029 US 1,804,973.58 $1,590,209.94
US TREASURY N/B 0.87500 11/15/2030 US 1,137,782.67 $921,959.52
US TREASURY N/B 2.00000 11/15/2026 US 902,317.38 $847,332.41
US TREASURY N/B 2.25000 11/15/2025 US 1,913,341.88 $1,838,303.01
US TREASURY N/B 3.12500 11/15/2028 US 586,066.14 $558,548.51
US TREASURY N/B 3.62500 02/15/2053 US 264,728.7 $232,919.89
US TREASURY N/B 4.12500 11/15/2032 US 1,046,815.49 $1,040,763.58
VENTAS INC US VTR 226.9 $9,879.14
VERTEX PHARMACEUTICALS INC US VRTX 389.98 $163,014.19
VISA INC - CLASS A SHARES US V 1,174.89 $327,888.61
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 241,451.27 $226,011.80
WELLTOWER INC. US WELL 299.33 $27,969.81
WIN 2015-1 A1 3.50000 01/20/2045 US 12,899.56 $11,669.54

Based on the investments of the underlying fund(s): Manning & Napier Pro-Mix® Conservative Term CIT Fund. Investments will change over time. 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 over 50 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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