Collective Investment Trust

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

$20.08

Daily $ Change

$0.14

Daily % Change

0.70%

as of 12/01/2023

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 10/31/2023

YTD

1.17%

1 Year

4.05%

3 Year

-0.24%

5 Year

3.12%

10 Year

2.93%

Inception
(05/31/2007)

5.02%

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 10/31/2023

Bonds
72.59%
Stocks
25.01%
Cash
2.40%

Detailed Asset Class Allocation

As of 10/31/2023

International Equities
6.55%
Small Capitalization
0.30%
Mid Capitalization
2.66%
Large Capitalization
15.50%
Long Term Fixed Income
11.86%
Intermediate Term Fixed Income
55.27%
Short Term Fixed Income
5.46%
Cash
2.40%

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 1,066.21 $31,680.14
ADMIRAL GROUP PLC ADR GB AMIGY 4,329.41 $128,107.37
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 183,941.75 $155,158.66
AGREE REALTY CORP US ADC 385.6 $21,570.28
AIR LIQUIDE FR AI FP 100.86 $17,282.05
AIRBUS SE FR AIR FP 126.83 $17,004.36
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 10,613.09 $10,579.59
ALCON INC CH ALC 1,767.54 $126,060.63
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 89,263.1 $68,608.64
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 354,590.08 $266,230.33
ALPHABET INC-CL A US GOOGL 3,314.71 $411,289.41
AMAZON.COM INC US AMZN 4,190.32 $557,690.08
AMAZON.COM INC 3.30000 04/13/2027 US 316,926.63 $297,044.06
AMERICAN HOMES 4 RENT- A US AMH 240.04 $7,858.98
AMERICAN TOWER REIT INC US AMT 139.37 $24,835.07
AMERICOLD REALTY TRUST US COLD 813.69 $21,335.05
APARTMENT INCOME REIT CO US AIRC 202.18 $5,905.58
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 165,478.24 $148,373.22
ASTRAZENECA GB AZN 298.71 $18,887.72
ATLASSIAN CORP PLC-CLASS A AU TEAM 66.08 $11,936.35
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 2,744.58 $11,736.61
AUTO TRADER GROUP PLC GB AUTO LN 3,026.73 $22,894.97
AVALONBAY COMMUNITIES INC US AVB 124.76 $20,678.52
AVANZA BANK HOLDING AB SE AZA SS 806.19 $13,628.59
BAE SYSTEMS PLC GB BA/ LN 2,417.84 $32,511.26
BAE SYSTEMS PLC -SPON ADR GB BAESY 2,350.43 $128,074.80
BANK OF AMERICA CORP 2.68700 04/22/2032 US 279,178.83 $214,450.03
BEIERSDORF AG DE BEI GR 166.07 $21,841.78
BIOMARIN PHARMACEUTICAL INC US BMRN 2,340.19 $190,608.82
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 150,873.1 $145,372.69
BORR IHC LTD 10.00000 11/15/2028 MUL 69,487.87 $69,318.41
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 62,696.86 $56,818.44
CAALT 2021-2A A 0.96000 02/15/2030 US 19,838.73 $19,639.75
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 105,603.42 $100,646.68
CANADIAN NATIONAL RAILWAY CO CA CNI 1,166.73 $123,417.05
CBOE GLOBAL MARKETS INC US CBOE 787.85 $129,120.05
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 32,131.46 $27,869.58
CELLNEX TELECOM SA ES CLNX SM 599.02 $17,608.81
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 747.04 $10,906.76
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 219,489.59 $213,078.25
CIM 2019-INV1 A1 4.00000 02/25/2049 US 3,716.78 $3,398.40
CITIGROUP INC 1.46200 06/09/2027 US 252,346.51 $222,045.61
CLARK CNTY NV 1.51000 11/01/2028 US 306,112.38 $254,405.09
CLEANAWAY WASTE MANAGEMENT AU CWY AU 10,876.56 $15,494.17
COCA COLA CO/THE US KO 5,997.65 $338,807.15
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 157,667.85 $135,670.67
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 152,586.76 $138,662.21
COMMUNITY HEALTHCARE TRUST I US CHCT 380.83 $10,918.28
COPART INC US CPRT 3,759.05 $163,593.64
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 36,746.28 $29,620.11
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 21,658.56 $17,488.96
CSX CORP US CSX 3,941.89 $117,665.27
DEUTSCHE BOERSE AG DE DB1 GR 158.48 $26,085.79
DEUTSCHE BOERSE AG ADR DE DBOEY 6,330.79 $103,698.33
DIAGEO PLC GB DGE LN 509.26 $19,258.09
DOLLARAMA INC CA DOL CN 131.86 $9,004.32
DREYFUS GVT CSH MANAGEMENT US 981,083.96 $981,083.96
ELECTRONIC ARTS US EA 2,389.41 $295,784.57
ENDAVA PLC - SPON ADR GB DAVA 158.6 $7,955.43
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 373,857.49 $346,695.49
EQUINIX INC US EQIX 113.95 $83,142.32
EQUITY COMMONWEALTH US EQC 832.91 $15,775.34
EQUITY LIFESTYLE PROPERTIES US ELS 339.55 $22,342.08
EVERGY INC US EVRG 2,734.21 $134,359.32
EXTRA SPACE STORAGE INC US EXR 180.11 $18,657.94
FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 902.64 $933.82
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 6,513.33 $6,632.32
FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 755.56 $782.14
FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 353.33 $359.76
FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 3,005.89 $3,111.93
FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 1,853.79 $1,887.65
FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 485.1 $493.86
FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 795.17 $809.42
FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 321.9 $311.13
FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 375.61 $362.98
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 3,217.52 $3,276.30
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 4,349.75 $4,423.49
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 22.79 $22.61
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 9,008.19 $8,377.31
FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 21,488.12 $19,953.42
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 3,472.15 $3,225.60
FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 7,506.17 $6,973.17
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 27,871.55 $25,892.45
FEDERAL NATL MTG ASSN AL8674 FLT 5.64000 01/01/2049 US 108,417.74 $107,960.19
FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 55,480.19 $51,184.78
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 7,462.14 $6,362.12
FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 25,754.98 $22,784.69
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 20,563.03 $18,191.53
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 157,329.01 $131,497.34
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 250,489.58 $216,841.65
FEDERAL NATL MTG ASSN CA5518 3.00000 04/01/2050 US 303,180.97 $246,010.98
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 249,119.7 $212,191.30
FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 25,997.03 $23,712.15
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 19,196.64 $17,304.34
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 264,809.11 $234,287.51
FEDERAL NATL MTG ASSN FS2998 3.50000 04/01/2052 US 154,060.73 $130,414.92
FEDERAL NATL MTG ASSN FS4511 4.00000 08/01/2051 US 280,061.65 $246,478.85
FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 1,305.51 $1,224.45
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 27,887.94 $26,757.21
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 22,622.11 $21,704.89
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 283,025.1 $235,982.79
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 275,086.48 $238,347.95
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 263,944.19 $214,475.15
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 283,492.77 $261,373.61
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 289,853.53 $240,159.72
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 47,623.45 $43,514.72
FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 22,846.93 $20,218.23
FHLM POOL C91746 4.50000 12/01/2033 US 3,349.78 $3,231.71
FHLM POOL FG G08734 4.00000 11/01/2046 US 3,113.06 $2,757.90
FHLM POOL G03332 6.00000 10/01/2037 US 1,004.85 $1,024.68
FHLM POOL G05900 6.00000 03/01/2040 US 2,139.28 $2,181.40
FHLM POOL G05906 6.00000 04/01/2040 US 2,892.62 $2,949.58
FHLM POOL G06789 6.00000 05/01/2040 US 13,159.34 $13,418.48
FHLM POOL G06995 6.00000 05/01/2040 US 6,378.35 $6,503.95
FHLM POOL G60034 4.50000 02/01/2045 US 49,029.24 $45,286.91
FHLM POOL Q93451 4.50000 08/01/2040 US 39,635.74 $36,916.93
FHLM POOL SD8230 4.50000 06/01/2052 US 254,463.18 $227,416.43
FHR 5189 CP 2.50000 06/25/2049 US 81,129.28 $64,754.12
FINECOBANK SPA IT FBK IM 1,789.77 $21,113.28
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 639.41 $9,399.30
FLX 2021-1A A2 3.25000 11/27/2051 US 256,991.91 $222,447.96
FMC CORP US FMC 4,328.57 $230,279.77
FN DS2696 3.00000 12/01/2051 US 124,876.21 $101,304.84
FN FS4339 MTGE 3.00000 12/01/2050 US 325,005.75 $265,758.01
FN FS4616 MTGE 5.00000 05/01/2043 US 210,879.09 $197,690.10
FN FS4925 MTGE 3.50000 04/01/2052 US 399,075.11 $337,823.61
FN MA4020 MTGE 3.00000 05/01/2050 US 416,634.2 $337,991.23
FN MA4733 4.50000 09/01/2052 US 121,678.04 $108,744.95
FN MA4807 MTGE 5.50000 11/01/2052 US 229,541.95 $218,144.20
FN MA4868 MTGE 5.00000 01/01/2053 US 234,920.45 $216,591.08
FN MA4934 MTGE 5.00000 02/01/2043 US 372,519.78 $348,816.61
FNR 2018-31 KP 3.50000 07/25/2047 US 2,874.76 $2,769.91
FR QG6308 MTG 6.00000 07/01/2053 US 288,785.35 $281,511.43
FR SD1360 MTGE 5.50000 07/01/2052 US 367,543.52 $349,498.42
FREDDIE MAC POOL RB5167 3.50000 07/01/2042 US 153,284.64 $131,619.89
FREDDIE MAC POOL RB5188 4.00000 10/01/2042 US 153,510.63 $135,823.83
GETTY REALTY CORP US GTY 279.26 $7,433.99
GLOBANT SA LU GLOB 54.24 $9,235.82
GNMA POOL 660997 5.50000 05/15/2037 US 4,469.36 $4,443.56
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 27,546.66 $24,213.27
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 24,953.75 $21,917.52
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 49,985.73 $40,999.66
GREENIDGE GEN HLD INC US 1,090.72 $6,620.67
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 50,763.07 $41,097.56
GSMBS 2021-INV1 A9 5.00000 12/25/2051 US 91,980.55 $82,419.99
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 220,691.93 $181,154.55
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 109,855.49 $90,058.58
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 63,303.57 $51,757.71
HALMA PLC GB HLMA LN 549.08 $12,347.98
HAWAII ST 2.68200 10/01/2038 US 156,288.66 $106,070.17
HDFC BANK LTD-ADR IN HDB 406.87 $23,008.76
HEINEKEN NV NL HEIA NA 291.77 $26,214.00
HEINEKEN NV-SPN ADR NL HEINY 5,533.89 $249,025.13
HELIOS TOWERS PLC GB HTWS LN 6,052.34 $4,454.25
HOTWIRE FUNDING LLC 5.68700 05/20/2053 US 273,907.53 $261,221.86
IDEXX LABORATORIES INC US IDXX 354.67 $141,680.62
IMCD NV NL IMCD NA 101.7 $12,244.09
IMPRL 2021-NQM3 1.59500 11/25/2056 US 128,029.03 $98,147.95
INTERCONTINENTALEXCHANGE INC US ICE 1,107.33 $118,971.54
INTERMEDIATE CAPITAL GROUP GB ICP LN 534.72 $8,513.35
INTUITIVE SURGICAL INC US ISRG 405.43 $106,311.25
INVITATION HOMES INC US INVH 737.8 $21,905.28
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 37,451.71 $36,190.48
JOHNSON & JOHNSON US JNJ 2,223.53 $329,838.34
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 24,154.06 $22,481.15
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 397,736.56 $359,303.91
KEYENCE CORP JP 6861 JP 27.08 $10,482.32
KEYWORDS STUDIOS PLC IE KWS LN 595.23 $9,451.70
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 5,654 $10,361.53
L'OREAL FR OR FP 10.68 $4,488.62
L3HARRIS TECHNOLOGIES INC US LHX 1,612.31 $289,263.89
LEXINGTON REALTY TRUST US LXP 1,300.12 $10,283.96
LONZA GROUP AG -REG CH LONN SW 27.13 $9,501.98
LULULEMON - ADR CA LULU 27.7 $10,900.26
MARRIOTT VACATIONS WORLD US VAC 56.11 $5,041.90
MASCO CORP US MAS 4,244.67 $221,104.84
MASTERCARD INC-CLASS A US MA 1,166.33 $438,948.46
MEDTRONIC INC IE MDT 3,165.01 $223,323.38
MERCADOLIBRE INC BR MELI 14.8 $18,360.44
META PLATFORMS INC US META 1,443.71 $434,945.40
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 139,745.89 $6,753.03
MICRON TECHNOLOGY INC US MU 5,475.3 $366,133.15
MICROSOFT CORP US MSFT 533.48 $180,375.45
MID-AMERICA APARTMENT COMM US MAA 87.01 $10,279.93
MONARCH CASINO & RESORT INC US MCRI 155.85 $9,380.87
MONDELEZ INTERNATIONAL INC US MDLZ 1,681.87 $111,356.44
MOODY'S CORPORATION US MCO 643.76 $198,279.35
NAVIENT CORP 6.75000 06/25/2025 US 44,623.11 $43,570.01
NESTLE S.A. - ADR CH NSRGY 2,483.69 $267,642.41
NESTLE SA-REGISTERED CH NESN SW 292.11 $31,501.25
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 171,747.38 $154,614.97
NIKE INC CLASS B US NKE 973.87 $100,084.79
NORTHROP GRUMMAN CORP US NOC 389.79 $183,758.45
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 53,592.53 $5.36
NOVARTIS AG- REG CH NVS 1,470.9 $137,647.13
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 150,577.01 $149,335.29
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 39,836.09 $35,418.68
NRZT 2015-2A A1 3.75000 08/25/2055 US 44,529.76 $40,231.73
NRZT 2016-4A A1 3.75000 11/25/2056 US 70,094.05 $63,073.45
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 51,372.19 $45,263.96
OASIS 2023-1A 7.00000 02/15/2035 US 98,949.52 $98,455.82
OBX 2022-INV1 A1 3.00000 12/25/2051 US 65,284.41 $50,094.88
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 59,739.86 $60,209.52
OXFIN 2019-1A A2 4.45900 02/15/2027 US 26,573.4 $26,539.04
OXFIN 2020-1A A2 3.10100 02/15/2028 US 47,932.54 $46,299.34
OXFIN 2022-1A 3.60200 02/15/2030 US 229,969.37 $217,215.17
OXFIN 2023-1A A2 6.71600 02/15/2031 US 221,325.99 $217,014.11
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 308,473.47 $308,520.57
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 168,369.18 $160,617.41
PEAR 2023-1A 7.42000 07/15/2035 US 142,232.55 $140,515.97
PELORUS FUND REIT 7.00000 09/30/2026 US 28,655.65 $26,996.78
PEPSICO INC 3.90000 07/18/2032 US 311,181.25 $276,204.71
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 228,310.41 $167,194.49
PFMT 2021-2 A2A 2.00000 04/25/2051 US 138,708.76 $111,762.71
PHYSICIANS REALTY TRUST US DOC 660.2 $7,169.75
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 11,591.03 $10,148.55
PROLOGIS US PLD 676.89 $68,197.13
PUBLIC STORAGE INC US PSA 110.18 $26,301.49
QUALCOMM 5.40000 05/20/2033 US 156,507.97 $153,040.71
QUALCOMM INC 4.25000 05/20/2032 US 119,142.32 $107,760.78
RCKT 2021-6 A1 2.50000 12/25/2051 US 196,311.03 $142,743.85
REALTY INCOME CORP US O 256.41 $12,148.90
RENAISSANCERE HOLDINGS LTD BM RNR 98.03 $21,527.29
RENTOKIL INITIAL PLC GB RTO LN 3,338.59 $17,001.72
RENTOKIL INITIAL PLC-SP ADR GB RTO 3,040.26 $77,800.36
REXFORD INDUSTRIAL REALITY IN US REXR 320.95 $13,877.93
S&P GLOBAL INC US SPGI 216.14 $75,499.06
SALESFORCE INC US CRM 555.87 $111,636.19
SBA COMMUNICATIONS CORP US SBAC 156.8 $32,713.77
SBA TOWER TRUST 1.88400 01/15/2026 US 93,689.19 $84,916.75
SBA TOWER TRUST 6.59900 01/15/2028 US 222,607.75 $222,178.07
SCML 2019-SBC8 2.86000 04/25/2041 US 52,443.75 $47,816.26
SEMT 2013-2 1.87400 02/25/2043 US 19,756.25 $15,999.14
SEMT 2013-6 A2 3.00000 05/25/2043 US 39,091.92 $33,260.21
SEMT 2013-7 A2 3.00000 06/25/2043 US 21,871.15 $18,736.25
SEMT 2013-8 A1 3.00000 06/25/2043 US 26,118.99 $22,269.20
SERVICENOW INC US NOW 439.44 $255,689.60
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 545,030.5 $415,552.35
SLMA 2006-10 A6 FLT 5.74564 03/25/2044 US 19,208.86 $18,403.03
SMB 2019-B A2A 2.84000 06/15/2037 US 85,116.69 $78,110.86
SMB 2020-BA A1A 1.29000 07/15/2053 US 112,123.74 $99,062.71
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 18,335.72 $17,717.61
SONY CORP FIRST SECTION JP 6758 JP 189.71 $15,772.55
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 132,411.37 $120,085.56
SORT 2020-1 A2 1.99000 07/15/2060 US 107,093.29 $89,249.41
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 70,917.67 $62,867.41
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 41,699.81 $34,927.19
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 272,511.57 $192,807.35
STAG INDUSTRIAL INC US STAG 215.46 $7,157.69
STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 69,640 $62,325.73
SUN COMMUNITIES US SUI 259.86 $28,906.33
SYNCHRONOSS TECH US 1,154.32 $19,681.20
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 2,347.79 $202,637.98
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 1,287.46 $11,753.91
TENCENT HOLDINGS 3.97500 04/11/2029 KY 665,805.07 $598,357.24
TENCENT HOLDINGS LTD CN 700 HK 650.54 $24,075.75
TERRENO REALTY CORP US TRNO 261.51 $13,933.24
THERMO FISHER SCIENTIFIC INC US TMO 222.22 $98,835.62
TPMT 2016-5 A1 2.50000 10/25/2056 US 13,636.67 $13,470.68
TPMT 2017-1 A1 2.75000 10/25/2056 US 4,752.83 $4,706.31
TPMT 2019-HY1 A1 6.43892 10/25/2048 US 28,597.89 $28,561.66
TREASURY BOND 2.37500 02/15/2042 US 920,211.96 $611,078.25
TREASURY NOTE 2.25000 11/15/2027 US 2,051,533.34 $1,856,637.67
TSY INFL IX N/B 0.12500 01/15/2031 US 288,704.78 $244,076.26
TSY INFL IX N/B 0.50000 04/15/2024 US 1,476,268.39 $1,451,994.51
TSY INFL IX N/B 2.37500 01/15/2027 US 999,298.61 $989,561.57
UDR INC US UDR 411.75 $13,097.86
UNILEVER PLC - ADR GB UL 6,074.19 $287,613.00
UNION PAC CORP US UNP 609.31 $126,499.22
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 7,364.54 $6,800.72
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 40,869.21 $36,191.02
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 13,538.9 $12,076.92
US TEASURY NOTE 1.75000 11/15/2029 US 2,336,512.68 $1,963,765.89
US TREASURY N/B 0.87500 11/15/2030 US 1,456,155.72 $1,114,869.22
US TREASURY N/B 2.00000 11/15/2026 US 1,777,585.57 $1,633,712.23
US TREASURY N/B 2.25000 11/15/2025 US 538,729.76 $509,520.51
US TREASURY N/B 3.12500 11/15/2028 US 2,149,426.66 $1,983,181.94
US TREASURY N/B 4.12500 11/15/2032 US 818,530.54 $772,999.78
VENTAS INC US VTR 317.78 $13,492.90
VERTEX PHARMACEUTICALS INC US VRTX 424.61 $153,756.35
VISA INC - CLASS A SHARES US V 1,343.57 $315,873.20
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 245,534.88 $217,369.74
WELLTOWER INC. US WELL 234.81 $19,632.63
WIN 2015-1 A1 3.50000 01/20/2045 US 14,419.16 $12,357.88

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

$20.08

Daily $ Change

$0.14

Daily % Change

0.70%

as of 12/01/2023

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 10/31/2023

YTD

1.17%

1 Year

4.05%

3 Year

-0.24%

5 Year

3.12%

10 Year

2.93%

Inception
(05/31/2007)

5.02%

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 10/31/2023

Bonds
72.59%
Stocks
25.01%
Cash
2.40%

Detailed Asset Class Allocation

As of 10/31/2023

International Equities
6.55%
Small Capitalization
0.30%
Mid Capitalization
2.66%
Large Capitalization
15.50%
Long Term Fixed Income
11.86%
Intermediate Term Fixed Income
55.27%
Short Term Fixed Income
5.46%
Cash
2.40%

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 1,066.21 $31,680.14
ADMIRAL GROUP PLC ADR GB AMIGY 4,329.41 $128,107.37
AERCAP IRELAND CAP/GLOBA 3.00000 10/29/2028 IE 183,941.75 $155,158.66
AGREE REALTY CORP US ADC 385.6 $21,570.28
AIR LIQUIDE FR AI FP 100.86 $17,282.05
AIRBUS SE FR AIR FP 126.83 $17,004.36
ALASKA AIR 2020-1 CL B 8.00000 08/15/2025 US 10,613.09 $10,579.59
ALCON INC CH ALC 1,767.54 $126,060.63
ALIBAB GROUP HOLDINGS 2.12500 02/09/2031 KY 89,263.1 $68,608.64
ALIBABA GROUP HOLDING 4.00000 12/06/2037 KY 354,590.08 $266,230.33
ALPHABET INC-CL A US GOOGL 3,314.71 $411,289.41
AMAZON.COM INC US AMZN 4,190.32 $557,690.08
AMAZON.COM INC 3.30000 04/13/2027 US 316,926.63 $297,044.06
AMERICAN HOMES 4 RENT- A US AMH 240.04 $7,858.98
AMERICAN TOWER REIT INC US AMT 139.37 $24,835.07
AMERICOLD REALTY TRUST US COLD 813.69 $21,335.05
APARTMENT INCOME REIT CO US AIRC 202.18 $5,905.58
ASHTEAD CAPITAL INC 4.00000 05/01/2028 US 165,478.24 $148,373.22
ASTRAZENECA GB AZN 298.71 $18,887.72
ATLASSIAN CORP PLC-CLASS A AU TEAM 66.08 $11,936.35
AUCKLAND INTL AIRPORT LTD NZ AIA NZ 2,744.58 $11,736.61
AUTO TRADER GROUP PLC GB AUTO LN 3,026.73 $22,894.97
AVALONBAY COMMUNITIES INC US AVB 124.76 $20,678.52
AVANZA BANK HOLDING AB SE AZA SS 806.19 $13,628.59
BAE SYSTEMS PLC GB BA/ LN 2,417.84 $32,511.26
BAE SYSTEMS PLC -SPON ADR GB BAESY 2,350.43 $128,074.80
BANK OF AMERICA CORP 2.68700 04/22/2032 US 279,178.83 $214,450.03
BEIERSDORF AG DE BEI GR 166.07 $21,841.78
BIOMARIN PHARMACEUTICAL INC US BMRN 2,340.19 $190,608.82
BNSF FUNDING TRUST I 6.61300 12/15/2055 US 150,873.1 $145,372.69
BORR IHC LTD 10.00000 11/15/2028 MUL 69,487.87 $69,318.41
BROOGE PETROLEUM AND GAS 8.50000 09/24/2025 AE 62,696.86 $56,818.44
CAALT 2021-2A A 0.96000 02/15/2030 US 19,838.73 $19,639.75
CAALT 2021-3A B MTGE 1.38000 07/15/2030 US 105,603.42 $100,646.68
CANADIAN NATIONAL RAILWAY CO CA CNI 1,166.73 $123,417.05
CBOE GLOBAL MARKETS INC US CBOE 787.85 $129,120.05
CBSLT 2019-AGS A1 MTGE 2.54000 01/25/2047 US 32,131.46 $27,869.58
CELLNEX TELECOM SA ES CLNX SM 599.02 $17,608.81
CELLNEX TELECOM SAU-UNSP ADR ES CLLNY 747.04 $10,906.76
CENOVUS ENERGY INC 6.75000 11/15/2039 CA 219,489.59 $213,078.25
CIM 2019-INV1 A1 4.00000 02/25/2049 US 3,716.78 $3,398.40
CITIGROUP INC 1.46200 06/09/2027 US 252,346.51 $222,045.61
CLARK CNTY NV 1.51000 11/01/2028 US 306,112.38 $254,405.09
CLEANAWAY WASTE MANAGEMENT AU CWY AU 10,876.56 $15,494.17
COCA COLA CO/THE US KO 5,997.65 $338,807.15
COLO 2021-2A A2 MTGE 2.40000 10/25/2051 US 157,667.85 $135,670.67
COLO 2023 - 1A A2 MTGE 5.11600 02/25/2053 US 152,586.76 $138,662.21
COMMUNITY HEALTHCARE TRUST I US CHCT 380.83 $10,918.28
COPART INC US CPRT 3,759.05 $163,593.64
CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 36,746.28 $29,620.11
CSMC 2013-TH1 A1 2.13000 02/25/2043 US 21,658.56 $17,488.96
CSX CORP US CSX 3,941.89 $117,665.27
DEUTSCHE BOERSE AG DE DB1 GR 158.48 $26,085.79
DEUTSCHE BOERSE AG ADR DE DBOEY 6,330.79 $103,698.33
DIAGEO PLC GB DGE LN 509.26 $19,258.09
DOLLARAMA INC CA DOL CN 131.86 $9,004.32
DREYFUS GVT CSH MANAGEMENT US 981,083.96 $981,083.96
ELECTRONIC ARTS US EA 2,389.41 $295,784.57
ENDAVA PLC - SPON ADR GB DAVA 158.6 $7,955.43
ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 373,857.49 $346,695.49
EQUINIX INC US EQIX 113.95 $83,142.32
EQUITY COMMONWEALTH US EQC 832.91 $15,775.34
EQUITY LIFESTYLE PROPERTIES US ELS 339.55 $22,342.08
EVERGY INC US EVRG 2,734.21 $134,359.32
EXTRA SPACE STORAGE INC US EXR 180.11 $18,657.94
FEDERAL NATL MTG ASSN 745932 6.50000 11/01/2036 US 902.64 $933.82
FEDERAL NATL MTG ASSN 889576 6.00000 04/01/2038 US 6,513.33 $6,632.32
FEDERAL NATL MTG ASSN 899735 6.50000 09/01/2037 US 755.56 $782.14
FEDERAL NATL MTG ASSN 941175 6.00000 11/01/2037 US 353.33 $359.76
FEDERAL NATL MTG ASSN 949709 6.50000 09/01/2037 US 3,005.89 $3,111.93
FEDERAL NATL MTG ASSN 954580 6.00000 02/01/2038 US 1,853.79 $1,887.65
FEDERAL NATL MTG ASSN 962276 6.00000 03/01/2038 US 485.1 $493.86
FEDERAL NATL MTG ASSN 962981 6.00000 05/01/2038 US 795.17 $809.42
FEDERAL NATL MTG ASSN 981635 5.00000 06/01/2038 US 321.9 $311.13
FEDERAL NATL MTG ASSN 981650 5.00000 06/01/2038 US 375.61 $362.98
FEDERAL NATL MTG ASSN AD0119 6.00000 07/01/2038 US 3,217.52 $3,276.30
FEDERAL NATL MTG ASSN AD0220 6.00000 10/01/2038 US 4,349.75 $4,423.49
FEDERAL NATL MTG ASSN AD0462 5.50000 10/01/2024 US 22.79 $22.61
FEDERAL NATL MTG ASSN AE0951 4.50000 02/01/2041 US 9,008.19 $8,377.31
FEDERAL NATL MTG ASSN AH5442 4.50000 05/01/2041 US 21,488.12 $19,953.42
FEDERAL NATL MTG ASSN AH9054 4.50000 04/01/2041 US 3,472.15 $3,225.60
FEDERAL NATL MTG ASSN AL6624 4.50000 09/01/2042 US 7,506.17 $6,973.17
FEDERAL NATL MTG ASSN AL7767 4.50000 06/01/2044 US 27,871.55 $25,892.45
FEDERAL NATL MTG ASSN AL8674 FLT 5.64000 01/01/2049 US 108,417.74 $107,960.19
FEDERAL NATL MTG ASSN AS4103 4.50000 12/01/2044 US 55,480.19 $51,184.78
FEDERAL NATL MTG ASSN BC6764 3.50000 04/01/2046 US 7,462.14 $6,362.12
FEDERAL NATL MTG ASSN BC8677 4.00000 05/01/2046 US 25,754.98 $22,784.69
FEDERAL NATL MTG ASSN BD6987 4.00000 10/01/2046 US 20,563.03 $18,191.53
FEDERAL NATL MTG ASSN BK0433 3.50000 12/01/2049 US 157,329.01 $131,497.34
FEDERAL NATL MTG ASSN BW1194 4.00000 09/01/2052 US 250,489.58 $216,841.65
FEDERAL NATL MTG ASSN CA5518 3.00000 04/01/2050 US 303,180.97 $246,010.98
FEDERAL NATL MTG ASSN FN FS1179 3.50000 12/01/2049 US 249,119.7 $212,191.30
FEDERAL NATL MTG ASSN FN MA3184 4.50000 11/01/2047 US 25,997.03 $23,712.15
FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 19,196.64 $17,304.34
FEDERAL NATL MTG ASSN FN MA4687 4.00000 06/01/2042 US 264,809.11 $234,287.51
FEDERAL NATL MTG ASSN FS2998 3.50000 04/01/2052 US 154,060.73 $130,414.92
FEDERAL NATL MTG ASSN FS4511 4.00000 08/01/2051 US 280,061.65 $246,478.85
FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 1,305.51 $1,224.45
FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 27,887.94 $26,757.21
FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 22,622.11 $21,704.89
FEDERAL NATL MTG ASSN MA4600 3.50000 05/01/2052 US 283,025.1 $235,982.79
FEDERAL NATL MTG ASSN MA4644 4.00000 05/01/2052 US 275,086.48 $238,347.95
FEDERAL NATL MTG ASSN SD8044 3.00000 02/01/2050 US 263,944.19 $214,475.15
FEDERAL NATL MTG ASSN SD8276 5.00000 12/01/2052 US 283,492.77 $261,373.61
FEDERAL NATL MTG FN MA4203 2.50000 12/01/2040 US 289,853.53 $240,159.72
FHLM GOLD POOL FG G08786 4.50000 10/01/2047 US 47,623.45 $43,514.72
FHLM GOLD POOL FG Q51334 4.00000 10/01/2047 US 22,846.93 $20,218.23
FHLM POOL C91746 4.50000 12/01/2033 US 3,349.78 $3,231.71
FHLM POOL FG G08734 4.00000 11/01/2046 US 3,113.06 $2,757.90
FHLM POOL G03332 6.00000 10/01/2037 US 1,004.85 $1,024.68
FHLM POOL G05900 6.00000 03/01/2040 US 2,139.28 $2,181.40
FHLM POOL G05906 6.00000 04/01/2040 US 2,892.62 $2,949.58
FHLM POOL G06789 6.00000 05/01/2040 US 13,159.34 $13,418.48
FHLM POOL G06995 6.00000 05/01/2040 US 6,378.35 $6,503.95
FHLM POOL G60034 4.50000 02/01/2045 US 49,029.24 $45,286.91
FHLM POOL Q93451 4.50000 08/01/2040 US 39,635.74 $36,916.93
FHLM POOL SD8230 4.50000 06/01/2052 US 254,463.18 $227,416.43
FHR 5189 CP 2.50000 06/25/2049 US 81,129.28 $64,754.12
FINECOBANK SPA IT FBK IM 1,789.77 $21,113.28
FLAGSHIP COMMUNITIES REIT UT US MHC/U CN 639.41 $9,399.30
FLX 2021-1A A2 3.25000 11/27/2051 US 256,991.91 $222,447.96
FMC CORP US FMC 4,328.57 $230,279.77
FN DS2696 3.00000 12/01/2051 US 124,876.21 $101,304.84
FN FS4339 MTGE 3.00000 12/01/2050 US 325,005.75 $265,758.01
FN FS4616 MTGE 5.00000 05/01/2043 US 210,879.09 $197,690.10
FN FS4925 MTGE 3.50000 04/01/2052 US 399,075.11 $337,823.61
FN MA4020 MTGE 3.00000 05/01/2050 US 416,634.2 $337,991.23
FN MA4733 4.50000 09/01/2052 US 121,678.04 $108,744.95
FN MA4807 MTGE 5.50000 11/01/2052 US 229,541.95 $218,144.20
FN MA4868 MTGE 5.00000 01/01/2053 US 234,920.45 $216,591.08
FN MA4934 MTGE 5.00000 02/01/2043 US 372,519.78 $348,816.61
FNR 2018-31 KP 3.50000 07/25/2047 US 2,874.76 $2,769.91
FR QG6308 MTG 6.00000 07/01/2053 US 288,785.35 $281,511.43
FR SD1360 MTGE 5.50000 07/01/2052 US 367,543.52 $349,498.42
FREDDIE MAC POOL RB5167 3.50000 07/01/2042 US 153,284.64 $131,619.89
FREDDIE MAC POOL RB5188 4.00000 10/01/2042 US 153,510.63 $135,823.83
GETTY REALTY CORP US GTY 279.26 $7,433.99
GLOBANT SA LU GLOB 54.24 $9,235.82
GNMA POOL 660997 5.50000 05/15/2037 US 4,469.36 $4,443.56
GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 27,546.66 $24,213.27
GOLDEN PEAR FUND HOLDCO 10.00000 03/02/2028 US 24,953.75 $21,917.52
GOODG 2020-1A MTGE 2.63000 04/15/2055 US 49,985.73 $40,999.66
GREENIDGE GEN HLD INC US 1,090.72 $6,620.67
GSMBS 2021-INV1 A6 2.50000 12/25/2051 US 50,763.07 $41,097.56
GSMBS 2021-INV1 A9 5.00000 12/25/2051 US 91,980.55 $82,419.99
GSMBS 2021-PJ6 A8 2.50000 11/25/2051 US 220,691.93 $181,154.55
GSMBS 2021-PJ9 A8 2.50000 02/26/2052 US 109,855.49 $90,058.58
GSMBS 2022-PJ1 A8 2.50000 05/28/2052 US 63,303.57 $51,757.71
HALMA PLC GB HLMA LN 549.08 $12,347.98
HAWAII ST 2.68200 10/01/2038 US 156,288.66 $106,070.17
HDFC BANK LTD-ADR IN HDB 406.87 $23,008.76
HEINEKEN NV NL HEIA NA 291.77 $26,214.00
HEINEKEN NV-SPN ADR NL HEINY 5,533.89 $249,025.13
HELIOS TOWERS PLC GB HTWS LN 6,052.34 $4,454.25
HOTWIRE FUNDING LLC 5.68700 05/20/2053 US 273,907.53 $261,221.86
IDEXX LABORATORIES INC US IDXX 354.67 $141,680.62
IMCD NV NL IMCD NA 101.7 $12,244.09
IMPRL 2021-NQM3 1.59500 11/25/2056 US 128,029.03 $98,147.95
INTERCONTINENTALEXCHANGE INC US ICE 1,107.33 $118,971.54
INTERMEDIATE CAPITAL GROUP GB ICP LN 534.72 $8,513.35
INTUITIVE SURGICAL INC US ISRG 405.43 $106,311.25
INVITATION HOMES INC US INVH 737.8 $21,905.28
ITALY GOV'T INT BOND 2.37500 10/17/2024 IT 37,451.71 $36,190.48
JOHNSON & JOHNSON US JNJ 2,223.53 $329,838.34
JPMMT 2014-2 1A1 3.00000 06/25/2029 US 24,154.06 $22,481.15
JPMORGAN CHASE & CO 4.49300 03/24/2031 US 397,736.56 $359,303.91
KEYENCE CORP JP 6861 JP 27.08 $10,482.32
KEYWORDS STUDIOS PLC IE KWS LN 595.23 $9,451.70
KIMBERLY CLARK DE MEXICO S.A.B. MX KIMBERA MM 5,654 $10,361.53
L'OREAL FR OR FP 10.68 $4,488.62
L3HARRIS TECHNOLOGIES INC US LHX 1,612.31 $289,263.89
LEXINGTON REALTY TRUST US LXP 1,300.12 $10,283.96
LONZA GROUP AG -REG CH LONN SW 27.13 $9,501.98
LULULEMON - ADR CA LULU 27.7 $10,900.26
MARRIOTT VACATIONS WORLD US VAC 56.11 $5,041.90
MASCO CORP US MAS 4,244.67 $221,104.84
MASTERCARD INC-CLASS A US MA 1,166.33 $438,948.46
MEDTRONIC INC IE MDT 3,165.01 $223,323.38
MERCADOLIBRE INC BR MELI 14.8 $18,360.44
META PLATFORMS INC US META 1,443.71 $434,945.40
MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 139,745.89 $6,753.03
MICRON TECHNOLOGY INC US MU 5,475.3 $366,133.15
MICROSOFT CORP US MSFT 533.48 $180,375.45
MID-AMERICA APARTMENT COMM US MAA 87.01 $10,279.93
MONARCH CASINO & RESORT INC US MCRI 155.85 $9,380.87
MONDELEZ INTERNATIONAL INC US MDLZ 1,681.87 $111,356.44
MOODY'S CORPORATION US MCO 643.76 $198,279.35
NAVIENT CORP 6.75000 06/25/2025 US 44,623.11 $43,570.01
NESTLE S.A. - ADR CH NSRGY 2,483.69 $267,642.41
NESTLE SA-REGISTERED CH NESN SW 292.11 $31,501.25
NEWCASTLE COAL INFRASTRU 4.40000 09/29/2027 AU 171,747.38 $154,614.97
NIKE INC CLASS B US NKE 973.87 $100,084.79
NORTHROP GRUMMAN CORP US NOC 389.79 $183,758.45
NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 53,592.53 $5.36
NOVARTIS AG- REG CH NVS 1,470.9 $137,647.13
NRG 7.467 07/31/28 CORP 7.46700 07/31/2028 US 150,577.01 $149,335.29
NRZT 2014-3A AFX3 3.75000 11/25/2054 US 39,836.09 $35,418.68
NRZT 2015-2A A1 3.75000 08/25/2055 US 44,529.76 $40,231.73
NRZT 2016-4A A1 3.75000 11/25/2056 US 70,094.05 $63,073.45
NYMT 2022-CP1 A1 2.04240 07/25/2061 US 51,372.19 $45,263.96
OASIS 2023-1A 7.00000 02/15/2035 US 98,949.52 $98,455.82
OBX 2022-INV1 A1 3.00000 12/25/2051 US 65,284.41 $50,094.88
ODFJELL DRILLING LTD 9.25000 05/31/2028 BM 59,739.86 $60,209.52
OXFIN 2019-1A A2 4.45900 02/15/2027 US 26,573.4 $26,539.04
OXFIN 2020-1A A2 3.10100 02/15/2028 US 47,932.54 $46,299.34
OXFIN 2022-1A 3.60200 02/15/2030 US 229,969.37 $217,215.17
OXFIN 2023-1A A2 6.71600 02/15/2031 US 221,325.99 $217,014.11
PALOMINO FUNDING TRUST I 7.23300 05/17/2028 US 308,473.47 $308,520.57
PEAR 2021-1 A MTGE 2.60000 01/15/2034 US 168,369.18 $160,617.41
PEAR 2023-1A 7.42000 07/15/2035 US 142,232.55 $140,515.97
PELORUS FUND REIT 7.00000 09/30/2026 US 28,655.65 $26,996.78
PEPSICO INC 3.90000 07/18/2032 US 311,181.25 $276,204.71
PFMT 2021 -INV1 A1 2.50000 08/25/2051 US 228,310.41 $167,194.49
PFMT 2021-2 A2A 2.00000 04/25/2051 US 138,708.76 $111,762.71
PHYSICIANS REALTY TRUST US DOC 660.2 $7,169.75
PMTLT 2013-J1 a9 3.50000 09/25/2043 US 11,591.03 $10,148.55
PROLOGIS US PLD 676.89 $68,197.13
PUBLIC STORAGE INC US PSA 110.18 $26,301.49
QUALCOMM 5.40000 05/20/2033 US 156,507.97 $153,040.71
QUALCOMM INC 4.25000 05/20/2032 US 119,142.32 $107,760.78
RCKT 2021-6 A1 2.50000 12/25/2051 US 196,311.03 $142,743.85
REALTY INCOME CORP US O 256.41 $12,148.90
RENAISSANCERE HOLDINGS LTD BM RNR 98.03 $21,527.29
RENTOKIL INITIAL PLC GB RTO LN 3,338.59 $17,001.72
RENTOKIL INITIAL PLC-SP ADR GB RTO 3,040.26 $77,800.36
REXFORD INDUSTRIAL REALITY IN US REXR 320.95 $13,877.93
S&P GLOBAL INC US SPGI 216.14 $75,499.06
SALESFORCE INC US CRM 555.87 $111,636.19
SBA COMMUNICATIONS CORP US SBAC 156.8 $32,713.77
SBA TOWER TRUST 1.88400 01/15/2026 US 93,689.19 $84,916.75
SBA TOWER TRUST 6.59900 01/15/2028 US 222,607.75 $222,178.07
SCML 2019-SBC8 2.86000 04/25/2041 US 52,443.75 $47,816.26
SEMT 2013-2 1.87400 02/25/2043 US 19,756.25 $15,999.14
SEMT 2013-6 A2 3.00000 05/25/2043 US 39,091.92 $33,260.21
SEMT 2013-7 A2 3.00000 06/25/2043 US 21,871.15 $18,736.25
SEMT 2013-8 A1 3.00000 06/25/2043 US 26,118.99 $22,269.20
SERVICENOW INC US NOW 439.44 $255,689.60
SIMON PROPERTY GROUP LP 2.65000 02/01/2032 US 545,030.5 $415,552.35
SLMA 2006-10 A6 FLT 5.74564 03/25/2044 US 19,208.86 $18,403.03
SMB 2019-B A2A 2.84000 06/15/2037 US 85,116.69 $78,110.86
SMB 2020-BA A1A 1.29000 07/15/2053 US 112,123.74 $99,062.71
SOFI 2018-B A2FX MTGE 3.34000 08/25/2047 US 18,335.72 $17,717.61
SONY CORP FIRST SECTION JP 6758 JP 189.71 $15,772.55
SORT 2020-1 A1 MTGE 1.69000 07/15/2060 US 132,411.37 $120,085.56
SORT 2020-1 A2 1.99000 07/15/2060 US 107,093.29 $89,249.41
SOUTH CAROLINA ST PUBLIC SVC 1.85200 12/01/2026 US 70,917.67 $62,867.41
SOUTH CAROLINA ST PUBLIC SVC 2.32900 12/01/2028 US 41,699.81 $34,927.19
SRPT 2014-STAR A FLTG RATE 8.50000 11/15/2027 US 272,511.57 $192,807.35
STAG INDUSTRIAL INC US STAG 215.46 $7,157.69
STR 2019-1 A1 MTGE 2.82000 11/20/2049 US 69,640 $62,325.73
SUN COMMUNITIES US SUI 259.86 $28,906.33
SYNCHRONOSS TECH US 1,154.32 $19,681.20
TAIWAN SEMICONDUCTOR - SP ADR TW TSM 2,347.79 $202,637.98
TECHTRONIC INDUSTRIES CO LTD HK 669 HK 1,287.46 $11,753.91
TENCENT HOLDINGS 3.97500 04/11/2029 KY 665,805.07 $598,357.24
TENCENT HOLDINGS LTD CN 700 HK 650.54 $24,075.75
TERRENO REALTY CORP US TRNO 261.51 $13,933.24
THERMO FISHER SCIENTIFIC INC US TMO 222.22 $98,835.62
TPMT 2016-5 A1 2.50000 10/25/2056 US 13,636.67 $13,470.68
TPMT 2017-1 A1 2.75000 10/25/2056 US 4,752.83 $4,706.31
TPMT 2019-HY1 A1 6.43892 10/25/2048 US 28,597.89 $28,561.66
TREASURY BOND 2.37500 02/15/2042 US 920,211.96 $611,078.25
TREASURY NOTE 2.25000 11/15/2027 US 2,051,533.34 $1,856,637.67
TSY INFL IX N/B 0.12500 01/15/2031 US 288,704.78 $244,076.26
TSY INFL IX N/B 0.50000 04/15/2024 US 1,476,268.39 $1,451,994.51
TSY INFL IX N/B 2.37500 01/15/2027 US 999,298.61 $989,561.57
UDR INC US UDR 411.75 $13,097.86
UNILEVER PLC - ADR GB UL 6,074.19 $287,613.00
UNION PAC CORP US UNP 609.31 $126,499.22
UNITED AIR 2018-1 B PTT 4.60000 03/01/2026 US 7,364.54 $6,800.72
UNITED AIR 2019-2 B PTT 3.50000 05/01/2028 US 40,869.21 $36,191.02
US CLAIMS LIT FNDG LLC 10.25000 03/17/2028 US 13,538.9 $12,076.92
US TEASURY NOTE 1.75000 11/15/2029 US 2,336,512.68 $1,963,765.89
US TREASURY N/B 0.87500 11/15/2030 US 1,456,155.72 $1,114,869.22
US TREASURY N/B 2.00000 11/15/2026 US 1,777,585.57 $1,633,712.23
US TREASURY N/B 2.25000 11/15/2025 US 538,729.76 $509,520.51
US TREASURY N/B 3.12500 11/15/2028 US 2,149,426.66 $1,983,181.94
US TREASURY N/B 4.12500 11/15/2032 US 818,530.54 $772,999.78
VENTAS INC US VTR 317.78 $13,492.90
VERTEX PHARMACEUTICALS INC US VRTX 424.61 $153,756.35
VISA INC - CLASS A SHARES US V 1,343.57 $315,873.20
WARNERMEDIA HOLDINGS INC 4.05400 03/15/2029 US 245,534.88 $217,369.74
WELLTOWER INC. US WELL 234.81 $19,632.63
WIN 2015-1 A1 3.50000 01/20/2045 US 14,419.16 $12,357.88

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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