Mutual Funds
Disciplined Value Series
Investment Objective
To provide competitive returns consistent with the broad equity market while also providing a level of capital protection during market downturns.
Investment Strategy
The Series is designed to offer a diversified portfolio of dividend-paying U.S. equity securities. Using a systematic process with a focus on mid-to-large capitalization U.S. companies, securities are selected based on free cash flow generation and earnings power, minimum dividend yield, dividend sustainability, and financial health.
May be Appropriate for Investors
- Seeking a portfolio of high-quality, dividend yielding securities
- Seeking exposure to companies with meaningful growth potential due to high free cash flow yields and earning power
Daily Price
$8.71
Daily $ Change
$0.07
Daily % Change
0.80%
as of 07/25/2024
Ticker
MNDFX
CUSIP
56382P658
Inception Date
11/07/2008
Investment Minimum
$1,000,000.00
Investment minimum may be waived for certain qualified retirement plan and discretionary investment accounts of the Advisor.
Important Documents
| Summary Prospectus | |
| Prospectus | |
| Statement of Additional Information | |
| Annual Report | |
| Semi-Annual Report | |
| Applications & Forms | |
| Fact Sheet | |
| N-Port Part F Reports |
YTD
5.71%
1 Year
10.86%
3 Year
4.62%
5 Year
8.19%
10 Year
8.74%
Inception
(11/07/2008)
10.92%
Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.
Expense Ratio
| Gross | 0.64% |
| Net | 0.60% |
| BANK OF AMERICA CORPORATION | 3.86% |
| J P MORGAN CHASE AND CO | 3.81% |
| UNITEDHEALTH GROUP INC | 3.76% |
| JOHNSON AND JOHNSON | 3.69% |
| CHEVRONTEXACO CORP | 3.65% |
| EXXON MOBIL CORP | 3.54% |
| CATERPILLAR INC DEL | 3.20% |
| CISCO SYS INC | 2.87% |
| WELLS FARGO AND CO NEW | 2.85% |
| HONEYWELL INTL INC | 2.46% |
Top Ten Investments list is unaudited and excludes cash.
| Financials | 21.90% | |
| Industrials | 19.07% | |
| Energy | 18.22% | |
| Health Care | 15.56% | |
| Information Technology | 8.58% | |
| Consumer Staples | 8.11% | |
| Consumer Discretionary | 4.49% | |
| Materials | 2.58% | |
| Communication Services | 1.48% |
The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor’s, a division of S&P Global Inc. (S&P), and is licensed for use by Manning & Napier when referencing GICS sectors. Neither MSCI, S&P, nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification, nor shall any such party have any liability therefrom.
| Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|
| 3M CO | US | 23,517 | $2,403,202.23 | |
| ALLEGION PUB LTD CO | US | 6,381 | $753,915.15 | |
| ANALOG DEVICES INC | US | 18,079 | $4,126,712.54 | |
| ARCHER DANIELS MIDLAND CO | US | 28,223 | $1,706,080.35 | |
| BANK OF AMERICA CORPORATION | US | 190,456 | $7,574,435.12 | |
| BECTON DICKINSON AND CO | US | 11,671 | $2,727,629.41 | |
| BERKLEY W R CORP | US | 14,724 | $1,157,011.92 | |
| BEST BUY INC | US | 12,981 | $1,094,168.49 | |
| BRISTOL MYERS SQUIBB CO | US | 75,274 | $3,126,129.22 | |
| BUNGE GLOBAL SA COM SHS | US | 9,129 | $974,703.33 | |
| CAMPBELL SOUP CO | US | 20,340 | $919,164.60 | |
| CATERPILLAR INC DEL | US | 18,859 | $6,281,932.90 | |
| CF INDS HLDGS INC | US | 12,662 | $938,507.44 | |
| CHESAPEAKE ENERGY CORP | US | 9,053 | $744,066.07 | |
| CHEVRONTEXACO CORP | US | 45,816 | $7,166,538.72 | |
| CINCINNATI FINL CORP | US | 9,313 | $1,099,865.30 | |
| CISCO SYS INC | US | 118,520 | $5,630,885.20 | |
| CITIGROUP INC | US | 70,557 | $4,477,547.22 | |
| COGNIZANT TECHNOLOGY SOLUTIO | US | 24,725 | $1,681,300.00 | |
| CONAGRA FOODS INC | US | 31,908 | $906,825.36 | |
| CONOCOPHILLIPS | US | 37,071 | $4,240,180.98 | |
| COTERRA ENERGY INC COM | US | 47,076 | $1,255,516.92 | |
| CUMMINS INC | US | 7,590 | $2,101,898.70 | |
| DEERE AND CO | US | 9,270 | $3,463,550.10 | |
| DICKS SPORTING GOODS INC | US | 5,072 | $1,089,719.20 | |
| EAST WEST BANCORP INC | US | 9,961 | $729,444.03 | |
| EBAY INC | US | 27,374 | $1,470,531.28 | |
| EVEREST GROUP LTD COM | US | 2,702 | $1,029,516.04 | |
| EXXON MOBIL CORP | US | 60,362 | $6,948,873.44 | |
| FEDEX CORP | US | 10,315 | $3,092,849.60 | |
| FIFTH THIRD BANCORP | US | 39,194 | $1,430,189.06 | |
| FOX CORP | US | 28,713 | $986,865.81 | |
| GENERAL MLS INC | US | 26,704 | $1,689,295.04 | |
| GENUINE PARTS CO | US | 8,366 | $1,157,185.12 | |
| GILEAD SCIENCES INC | US | 49,468 | $3,393,999.48 | |
| HALLIBURTON CO | US | 47,133 | $1,592,152.74 | |
| HARTFORD FINL SVCS GROUP INC | US | 15,469 | $1,555,253.26 | |
| HERSHEY FOODS CORP | US | 10,166 | $1,868,815.78 | |
| HF SINCLAIR CORPORATION COM | US | 14,422 | $769,269.48 | |
| HONEYWELL INTL INC | US | 22,563 | $4,818,103.02 | |
| HUNTINGTON BANCSHARES INC | US | 88,504 | $1,166,482.72 | |
| HUNTINGTON INGALLS INDS INC | US | 2,710 | $667,554.30 | |
| INTERPUBLIC GROUP COS INC | US | 25,960 | $755,176.40 | |
| INTL PAPER CO | US | 21,699 | $936,311.85 | |
| J P MORGAN CHASE AND CO | US | 36,954 | $7,474,316.04 | |
| JOHNSON AND JOHNSON | US | 49,507 | $7,235,943.12 | |
| KENVUE INC COM | US | 91,033 | $1,654,979.94 | |
| KIMBERLY CLARK CORP | US | 14,657 | $2,025,597.40 | |
| KRAFT HEINZ CO | US | 53,975 | $1,739,074.50 | |
| LKQ CORP | US | 18,563 | $772,035.17 | |
| LOCKHEED MARTIN CORP | US | 8,627 | $4,029,671.70 | |
| MARATHON OIL CORP | US | 38,864 | $1,114,230.88 | |
| MARATHON PETROLEUM CORP | US | 17,354 | $3,010,571.92 | |
| MASCO CORP | US | 14,226 | $948,447.42 | |
| MEDTRONIC PLC SHS | US | 47,618 | $3,748,012.78 | |
| MICROCHIP TECHNOLOGY INC | US | 23,176 | $2,120,604.00 | |
| MOLSON COORS BREWING CO | US | 14,729 | $748,675.07 | |
| MOSAIC CO NEW COM | US | 23,748 | $686,317.20 | |
| OMNICOM GROUP INC | US | 12,972 | $1,163,588.40 | |
| OVINTIV INC COM | US | 17,923 | $840,051.01 | |
| PACCAR INC | US | 19,886 | $2,047,064.84 | |
| PENSKE AUTOMOTIVE GRP INC | US | 4,833 | $720,213.66 | |
| PERMIAN RESOURCES CORP CLASS A COM | US | 49,582 | $800,749.30 | |
| PHILLIPS 66 | US | 17,706 | $2,499,556.02 | |
| PNC FINL SVCS GROUP INC | US | 16,188 | $2,516,910.24 | |
| PPG INDS INC | US | 12,532 | $1,577,653.48 | |
| QUEST DIAGNOSTICS INC | US | 7,401 | $1,013,048.88 | |
| RALPH LAUREN CORP | US | 4,241 | $742,429.46 | |
| ROYALTY PHARMA PLC SHS CL A | US | 38,952 | $1,027,164.24 | |
| RTX CORPORATION COM | US | 40,821 | $4,098,020.19 | |
| SCHLUMBERGER LTD | US | 55,142 | $2,601,599.56 | |
| SKYWORKS SOLUTIONS INC | US | 10,668 | $1,136,995.44 | |
| SMITH A O | US | 10,171 | $831,784.38 | |
| SNAP ON INC | US | 3,348 | $875,133.72 | |
| SSNC TECHNOLOGIES HLDGS INC | US | 15,523 | $972,826.41 | |
| SYSCO CORP | US | 23,466 | $1,675,237.74 | |
| TAPESTRY INC COM | US | 16,959 | $725,675.61 | |
| TE CONNECTIVITY LTD | US | 14,100 | $2,121,063.00 | |
| TRAVELERS COMPANIES INC | US | 10,961 | $2,228,809.74 | |
| TRUIST FINL CORP COM | US | 58,785 | $2,283,797.25 | |
| UNITEDHEALTH GROUP INC | US | 14,462 | $7,364,918.12 | |
| US BANCORP DEL COM | US | 66,113 | $2,624,686.10 | |
| US DOLLARS | US | 1,940,714.53 | $1,940,714.53 | |
| VALERO ENERGY CORP NEW | US | 13,731 | $2,152,471.56 | |
| VIATRIS INC | US | 82,704 | $879,143.52 | |
| WELLS FARGO AND CO NEW | US | 94,250 | $5,597,507.50 | |
| WESTROCK CO | US | 18,353 | $922,421.78 | |
| WILLIAMS SONOMA INC | US | 3,677 | $1,038,274.49 |
Investments will change over time.
A Word About Risk
All investments involve risks, including possible loss of principal. As with any stock fund, the value of your investment will fluctuate in response to stock market movements. Investing in the Series will also involve a number of other risks, including issuer-specific risk and mid-cap risk. The Series invests primarily in dividend-paying equity securities, with a focus on mid-to-large cap companies. There is no assurance or guarantee that such companies will declare, continue to pay, or increase dividends. Stocks of mid-cap companies tend to be more volatile than those of large-cap companies, as midcap companies tend to be more susceptible to adverse business or economic events than larger, more established companies. In addition, because the Advisor manages the Series using a disciplined screening process, the Series is subject to the additional risk that the investment approach may not be successful. Further, the Advisor does not intend to make frequent changes to the Series’ portfolio in response to market movements.
Daily Price
$8.71
Daily $ Change
$0.07
Daily % Change
0.80%
as of 07/25/2024
Ticker
MNDFX
CUSIP
56382P658
Inception Date
11/07/2008
Investment Minimum
$1,000,000.00
Investment minimum may be waived for certain qualified retirement plan and discretionary investment accounts of the Advisor.
Important Documents
| Summary Prospectus | |
| Prospectus | |
| Statement of Additional Information | |
| Annual Report | |
| Semi-Annual Report | |
| Applications & Forms | |
| Fact Sheet | |
| N-Port Part F Reports |
Investment Objective
To provide competitive returns consistent with the broad equity market while also providing a level of capital protection during market downturns.
Investment Strategy
The Series is designed to offer a diversified portfolio of dividend-paying U.S. equity securities. Using a systematic process with a focus on mid-to-large capitalization U.S. companies, securities are selected based on free cash flow generation and earnings power, minimum dividend yield, dividend sustainability, and financial health.
May be Appropriate for Investors
- Seeking a portfolio of high-quality, dividend yielding securities
- Seeking exposure to companies with meaningful growth potential due to high free cash flow yields and earning power
YTD
5.71%
1 Year
10.86%
3 Year
4.62%
5 Year
8.19%
10 Year
8.74%
Inception
(11/07/2008)
10.92%
Performance data quoted represents past performance and does not guarantee future results. Performance for periods greater than one year is annualized. The investment return and principal value of an investment will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted.
Expense Ratio
| Gross | 0.64% |
| Net | 0.60% |
| BANK OF AMERICA CORPORATION | 3.86% |
| J P MORGAN CHASE AND CO | 3.81% |
| UNITEDHEALTH GROUP INC | 3.76% |
| JOHNSON AND JOHNSON | 3.69% |
| CHEVRONTEXACO CORP | 3.65% |
| EXXON MOBIL CORP | 3.54% |
| CATERPILLAR INC DEL | 3.20% |
| CISCO SYS INC | 2.87% |
| WELLS FARGO AND CO NEW | 2.85% |
| HONEYWELL INTL INC | 2.46% |
Top Ten Investments list is unaudited and excludes cash.
| Financials | 21.90% | |
| Industrials | 19.07% | |
| Energy | 18.22% | |
| Health Care | 15.56% | |
| Information Technology | 8.58% | |
| Consumer Staples | 8.11% | |
| Consumer Discretionary | 4.49% | |
| Materials | 2.58% | |
| Communication Services | 1.48% |
The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor’s, a division of S&P Global Inc. (S&P), and is licensed for use by Manning & Napier when referencing GICS sectors. Neither MSCI, S&P, nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification, nor shall any such party have any liability therefrom.
| Security Description | Country | Ticker | Shares/Par | Market Value (USD) |
|---|---|---|---|---|
| 3M CO | US | 23,517 | $2,403,202.23 | |
| ALLEGION PUB LTD CO | US | 6,381 | $753,915.15 | |
| ANALOG DEVICES INC | US | 18,079 | $4,126,712.54 | |
| ARCHER DANIELS MIDLAND CO | US | 28,223 | $1,706,080.35 | |
| BANK OF AMERICA CORPORATION | US | 190,456 | $7,574,435.12 | |
| BECTON DICKINSON AND CO | US | 11,671 | $2,727,629.41 | |
| BERKLEY W R CORP | US | 14,724 | $1,157,011.92 | |
| BEST BUY INC | US | 12,981 | $1,094,168.49 | |
| BRISTOL MYERS SQUIBB CO | US | 75,274 | $3,126,129.22 | |
| BUNGE GLOBAL SA COM SHS | US | 9,129 | $974,703.33 | |
| CAMPBELL SOUP CO | US | 20,340 | $919,164.60 | |
| CATERPILLAR INC DEL | US | 18,859 | $6,281,932.90 | |
| CF INDS HLDGS INC | US | 12,662 | $938,507.44 | |
| CHESAPEAKE ENERGY CORP | US | 9,053 | $744,066.07 | |
| CHEVRONTEXACO CORP | US | 45,816 | $7,166,538.72 | |
| CINCINNATI FINL CORP | US | 9,313 | $1,099,865.30 | |
| CISCO SYS INC | US | 118,520 | $5,630,885.20 | |
| CITIGROUP INC | US | 70,557 | $4,477,547.22 | |
| COGNIZANT TECHNOLOGY SOLUTIO | US | 24,725 | $1,681,300.00 | |
| CONAGRA FOODS INC | US | 31,908 | $906,825.36 | |
| CONOCOPHILLIPS | US | 37,071 | $4,240,180.98 | |
| COTERRA ENERGY INC COM | US | 47,076 | $1,255,516.92 | |
| CUMMINS INC | US | 7,590 | $2,101,898.70 | |
| DEERE AND CO | US | 9,270 | $3,463,550.10 | |
| DICKS SPORTING GOODS INC | US | 5,072 | $1,089,719.20 | |
| EAST WEST BANCORP INC | US | 9,961 | $729,444.03 | |
| EBAY INC | US | 27,374 | $1,470,531.28 | |
| EVEREST GROUP LTD COM | US | 2,702 | $1,029,516.04 | |
| EXXON MOBIL CORP | US | 60,362 | $6,948,873.44 | |
| FEDEX CORP | US | 10,315 | $3,092,849.60 | |
| FIFTH THIRD BANCORP | US | 39,194 | $1,430,189.06 | |
| FOX CORP | US | 28,713 | $986,865.81 | |
| GENERAL MLS INC | US | 26,704 | $1,689,295.04 | |
| GENUINE PARTS CO | US | 8,366 | $1,157,185.12 | |
| GILEAD SCIENCES INC | US | 49,468 | $3,393,999.48 | |
| HALLIBURTON CO | US | 47,133 | $1,592,152.74 | |
| HARTFORD FINL SVCS GROUP INC | US | 15,469 | $1,555,253.26 | |
| HERSHEY FOODS CORP | US | 10,166 | $1,868,815.78 | |
| HF SINCLAIR CORPORATION COM | US | 14,422 | $769,269.48 | |
| HONEYWELL INTL INC | US | 22,563 | $4,818,103.02 | |
| HUNTINGTON BANCSHARES INC | US | 88,504 | $1,166,482.72 | |
| HUNTINGTON INGALLS INDS INC | US | 2,710 | $667,554.30 | |
| INTERPUBLIC GROUP COS INC | US | 25,960 | $755,176.40 | |
| INTL PAPER CO | US | 21,699 | $936,311.85 | |
| J P MORGAN CHASE AND CO | US | 36,954 | $7,474,316.04 | |
| JOHNSON AND JOHNSON | US | 49,507 | $7,235,943.12 | |
| KENVUE INC COM | US | 91,033 | $1,654,979.94 | |
| KIMBERLY CLARK CORP | US | 14,657 | $2,025,597.40 | |
| KRAFT HEINZ CO | US | 53,975 | $1,739,074.50 | |
| LKQ CORP | US | 18,563 | $772,035.17 | |
| LOCKHEED MARTIN CORP | US | 8,627 | $4,029,671.70 | |
| MARATHON OIL CORP | US | 38,864 | $1,114,230.88 | |
| MARATHON PETROLEUM CORP | US | 17,354 | $3,010,571.92 | |
| MASCO CORP | US | 14,226 | $948,447.42 | |
| MEDTRONIC PLC SHS | US | 47,618 | $3,748,012.78 | |
| MICROCHIP TECHNOLOGY INC | US | 23,176 | $2,120,604.00 | |
| MOLSON COORS BREWING CO | US | 14,729 | $748,675.07 | |
| MOSAIC CO NEW COM | US | 23,748 | $686,317.20 | |
| OMNICOM GROUP INC | US | 12,972 | $1,163,588.40 | |
| OVINTIV INC COM | US | 17,923 | $840,051.01 | |
| PACCAR INC | US | 19,886 | $2,047,064.84 | |
| PENSKE AUTOMOTIVE GRP INC | US | 4,833 | $720,213.66 | |
| PERMIAN RESOURCES CORP CLASS A COM | US | 49,582 | $800,749.30 | |
| PHILLIPS 66 | US | 17,706 | $2,499,556.02 | |
| PNC FINL SVCS GROUP INC | US | 16,188 | $2,516,910.24 | |
| PPG INDS INC | US | 12,532 | $1,577,653.48 | |
| QUEST DIAGNOSTICS INC | US | 7,401 | $1,013,048.88 | |
| RALPH LAUREN CORP | US | 4,241 | $742,429.46 | |
| ROYALTY PHARMA PLC SHS CL A | US | 38,952 | $1,027,164.24 | |
| RTX CORPORATION COM | US | 40,821 | $4,098,020.19 | |
| SCHLUMBERGER LTD | US | 55,142 | $2,601,599.56 | |
| SKYWORKS SOLUTIONS INC | US | 10,668 | $1,136,995.44 | |
| SMITH A O | US | 10,171 | $831,784.38 | |
| SNAP ON INC | US | 3,348 | $875,133.72 | |
| SSNC TECHNOLOGIES HLDGS INC | US | 15,523 | $972,826.41 | |
| SYSCO CORP | US | 23,466 | $1,675,237.74 | |
| TAPESTRY INC COM | US | 16,959 | $725,675.61 | |
| TE CONNECTIVITY LTD | US | 14,100 | $2,121,063.00 | |
| TRAVELERS COMPANIES INC | US | 10,961 | $2,228,809.74 | |
| TRUIST FINL CORP COM | US | 58,785 | $2,283,797.25 | |
| UNITEDHEALTH GROUP INC | US | 14,462 | $7,364,918.12 | |
| US BANCORP DEL COM | US | 66,113 | $2,624,686.10 | |
| US DOLLARS | US | 1,940,714.53 | $1,940,714.53 | |
| VALERO ENERGY CORP NEW | US | 13,731 | $2,152,471.56 | |
| VIATRIS INC | US | 82,704 | $879,143.52 | |
| WELLS FARGO AND CO NEW | US | 94,250 | $5,597,507.50 | |
| WESTROCK CO | US | 18,353 | $922,421.78 | |
| WILLIAMS SONOMA INC | US | 3,677 | $1,038,274.49 |
Investments will change over time.
Distributions
A Word About Risk
All investments involve risks, including possible loss of principal. As with any stock fund, the value of your investment will fluctuate in response to stock market movements. Investing in the Series will also involve a number of other risks, including issuer-specific risk and mid-cap risk. The Series invests primarily in dividend-paying equity securities, with a focus on mid-to-large cap companies. There is no assurance or guarantee that such companies will declare, continue to pay, or increase dividends. Stocks of mid-cap companies tend to be more volatile than those of large-cap companies, as midcap companies tend to be more susceptible to adverse business or economic events than larger, more established companies. In addition, because the Advisor manages the Series using a disciplined screening process, the Series is subject to the additional risk that the investment approach may not be successful. Further, the Advisor does not intend to make frequent changes to the Series’ portfolio in response to market movements.