Investment Objective

To maximize long-term growth by investing principally in the common stocks of companies located around the world.

Investment Strategy

The Series may invest in stocks of companies both in developed countries and in emerging market countries. The maximum allocation to any one country, measured at the time of purchase, is the higher of 15% or double the country’s weighting in the MSCI (EAFE) Index. Total holdings in emerging market countries are limited to 35% of the portfolio measured at the time of purchase.

May be Appropriate for Investors

  • Seeking a long-term (15 years or more) investment and who are willing to accept the risk of foreign equity securities
  • Seeking to diversify a portfolio by adding a foreign equity component

Daily Price

$21.44

Daily $ Change

$0.27

Daily % Change

1.26%

as of 04/09/2020

Ticker

MNOSX

CUSIP

56382R480

Inception Date

09/21/2018

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans and discretionary investment accounts of the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms

Performance

As of 03/31/2020

YTD

-20.86%

1 Year

-11.36%

3 Year

-1.47%

5 Year

-0.33%

10 Year

1.39%

Inception
(09/23/1998)

5.88%

International Market Cycle (04/01/2003 - 03/31/2020)

6.56%

Inception performance is based on the Overseas Series Class I inception of 09/23/1998. For periods through 09/21/2018 (the inception date of the Class S shares), performance for the Class S shares is hypothetical and is based on the historical performance of the Class I shares adjusted for the Class S shares’ charges and expenses. 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 1.10%
Net 1.06%*

*Includes a 12b-1 fee of 0.25%, of which up to 0.25% is available as a shareholder servicing fee. Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated without the prior approval of the Fund’s Board of Directors.

Top Ten Investments

As of 03/31/2020

NESTLE SA-REGISTERED 4.34%
NEXON CO LTD 4.05%
ADMIRAL GROUP PLC 3.73%
SAMSUNG ELECTRONICS CO LTD 3.61%
NOVARTIS AG- REG 3.57%
UNILEVER PLC - ADR 3.44%
TENCENT HOLDINGS LTD 3.14%
ALIBABA GROUP - ADR 2.94%
SONY CORP FIRST SECTION 2.84%
LULULEMON - ADR 2.78%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 03/31/2020

Communication Services 13.00%
Consumer Discretionary 16.55%
Consumer Staples 16.78%
Energy 6.01%
Financials 10.79%
Health Care 17.22%
Industrials 8.99%
Information Technology 8.54%
Materials 2.12%

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.

Country Allocation

As of 03/31/2020

United Kingdom 15.62%
Japan 11.51%
Canada 11.31%
Switzerland 10.34%
China 8.78%
Germany 8.72%
Ireland 8.12%
France 3.78%
Netherlands 3.67%
South Korea 3.61%
Italy 2.44%
Mexico 1.97%
Spain 1.95%
Belgium 1.81%
Sweden 1.77%
Singapore 1.52%
Australia 1.32%
Bermuda 0.98%
Brazil 0.71%
Denmark 0.07%

March Fund Holdings

As of 03/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
01609W102 ALIBABA GROUP - ADR CN BABA 69,165 $13,451,209.20
02319V103 AMBEV SA-ADR BR ABEV 1,408,551 $3,239,667.30
0237400 DIAGEO PLC GB DGE LN 336,055 $10,656,119.60
055622104 BP PLC-SPONS ADR GB BP 83,320 $2,032,174.80
0946580 WEIR GROUP PLC/THE GB WEIR LN 511,406 $4,548,501.84
13321L108 CAMECO CORP CA CCJ 925,760 $7,072,806.40
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 317,130 $1,620,240.67
262006208 DREYFUS GVT CSH MANAGEMENT US 10,657,689.97 $10,657,689.97
2715777 QUEBECOR INC -CL B CA QBR/B CN 300,868 $6,651,036.37
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 515,255 $8,358,751.97
2866857 LUNDIN MINING CORP CA LUN CN 522,858 $1,965,408.10
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 52,745 $2,845,065.30
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 34,910 $3,286,427.40
4741844 MERCK KGAA DE MRK GR 61,499 $6,209,073.41
5107401 BEIERSDORF AG DE BEI GR 75,796 $7,631,965.61
550021109 LULULEMON - ADR CA LULU 66,985 $12,697,006.75
6253983 ARISTOCRAT LEISURE LTD AU ALL AU 210,414 $2,726,472.72
6356934 FANUC LTD JP 6954 JP 30,100 $4,022,138.10
6490995 KEYENCE CORP JP 6861 JP 30,100 $9,677,528.17
6642321 NIKON CORP JP 7731 JP 809,300 $7,427,970.72
66987V109 NOVARTIS AG- REG CH NVS 198,090 $16,332,520.50
6742340 SHANDONG WEIGAO CN 1066 HK 7,632,000 $9,580,887.60
6771720 SAMSUNG ELECTRONICS CO LTD KR 005930 KS 424,110 $16,490,040.86
6821506 SONY CORP FIRST SECTION JP 6758 JP 219,100 $12,978,077.42
7021963 DEUTSCHE BOERSE AG DE DB1 GR 88,620 $12,174,984.96
7123870 NESTLE SA-REGISTERED CH NESN SW 193,665 $19,825,059.08
76131D103 RESTAURANT BRANDS INTERN CA QSR 211,040 $8,447,931.20
7698356 GETINGE AB-B SHS SE GETIB SS 428,265 $8,098,112.93
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 58,360 $1,906,037.60
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 147,640 $7,838,207.60
806857108 SCHLUMBERGER LTD NL SLB 398,855 $5,380,553.95
81141R100 SEA LTD - ADR SG SE 156,325 $6,926,760.75
89151E109 TOTAL S A SPONSORED ADR FR TOT 158,940 $5,918,925.60
904767704 UNILEVER PLC - ADR GB UL 310,470 $15,700,467.90
B02J639 ADMIRAL GROUP PLC GB ADM LN 619,290 $17,055,289.21
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 848,900 $2,872,787.10
B1Y47Y7 GERRESHEIMER AG DE GXI GR 120,880 $7,622,505.22
B1Y9TB3 DANONE FR BN FP 177,220 $11,341,775.28
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 791,115 $4,856,984.01
B4YVF56 BRENNTAG AG DE BNR GR 171,160 $6,218,613.55
B63QM77 NEXON CO LTD JP 3659 JP 1,131,400 $18,488,028.55
B7KR2P8 EASY JET PLC GB EZJ LN 891,075 $6,174,743.89
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 154,817 $2,740,508.39
BGHVXC0 DRILLING CO OF 1972/THE DK DRLCO DC 15,604 $297,279.14
BGJW376 MEITUAN DIANPING - CLASS B CN 3690 HK 233,300 $2,781,226.84
BJ2KSG2 AKZO NOBEL NL AKZA NA 92,468 $6,081,505.32
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 289,900 $14,329,065.13
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 1,837,945 $6,242,045.57
BNGN9Z1 FINECOBANK SPA IT FBK IM 1,241,150 $11,166,743.04
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 343,270 $8,895,382.25
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 860,890 $4,652,062.05
BYRJH51 HASTINGS GROUP HOLDINGS PLC GB HSTG LN 1,944,460 $4,456,059.20
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 187,395 $8,277,221.03
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 2,813,668 $3,300,651.06
BZ1HM42 ADYEN NV NL ADYEN NA 4,010 $3,408,079.85
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 261,985 $4,461,604.55
G1151C101 ACCENTURE PLC - CL A IE ACN 41,070 $6,705,088.20
G5960L103 MEDTRONIC INC IE MDT 135,390 $12,209,470.20
G97822103 PERRIGO CO PLC IE PRGO 158,110 $7,603,509.90
H01301128 ALCON INC CH ALC 218,088 $11,083,232.16

Investments will change over time.

Distributions

  • Overseas Series Class S Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2020 Distributions
  • Tax Letter
  • World Opportunities Merger into Overseas

A Word About Risk

All investments involve risks, including possible loss of principal. Funds whose investments are concentrated in foreign countries may be subject to fluctuating currency values, different accounting standards, and economic and political instability. The value of the Series may be affected by changes in exchange rates between foreign currencies and the U.S. dollar. Investments in emerging markets may be more volatile than investments in more developed markets.

Daily Price

$21.44

Daily $ Change

$0.27

Daily % Change

1.26%

as of 04/09/2020

Ticker

MNOSX

CUSIP

56382R480

Inception Date

09/21/2018

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans and discretionary investment accounts of the Advisor.

Important Documents

Summary Prospectus
Prospectus
Statement of Additional Information
Annual Report
Semi-Annual Report
Fact Sheet
Applications & Forms

Investment Objective

To maximize long-term growth by investing principally in the common stocks of companies located around the world.

Investment Strategy

The Series may invest in stocks of companies both in developed countries and in emerging market countries. The maximum allocation to any one country, measured at the time of purchase, is the higher of 15% or double the country’s weighting in the MSCI (EAFE) Index. Total holdings in emerging market countries are limited to 35% of the portfolio measured at the time of purchase.

May be Appropriate for Investors

  • Seeking a long-term (15 years or more) investment and who are willing to accept the risk of foreign equity securities
  • Seeking to diversify a portfolio by adding a foreign equity component

Performance

As of 03/31/2020

YTD

-20.86%

1 Year

-11.36%

3 Year

-1.47%

5 Year

-0.33%

10 Year

1.39%

Inception
(09/23/1998)

5.88%

International Market Cycle (04/01/2003 - 03/31/2020)

6.56%

Inception performance is based on the Overseas Series Class I inception of 09/23/1998. For periods through 09/21/2018 (the inception date of the Class S shares), performance for the Class S shares is hypothetical and is based on the historical performance of the Class I shares adjusted for the Class S shares’ charges and expenses. 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 1.10%
Net 1.06%*

*Includes a 12b-1 fee of 0.25%, of which up to 0.25% is available as a shareholder servicing fee. Reflects the Advisor’s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated without the prior approval of the Fund’s Board of Directors.

Top Ten Investments

As of 03/31/2020

NESTLE SA-REGISTERED 4.34%
NEXON CO LTD 4.05%
ADMIRAL GROUP PLC 3.73%
SAMSUNG ELECTRONICS CO LTD 3.61%
NOVARTIS AG- REG 3.57%
UNILEVER PLC - ADR 3.44%
TENCENT HOLDINGS LTD 3.14%
ALIBABA GROUP - ADR 2.94%
SONY CORP FIRST SECTION 2.84%
LULULEMON - ADR 2.78%

Top Ten Investments list is unaudited and excludes cash.

Sector Allocation

As of 03/31/2020

Communication Services
13.00%
Consumer Discretionary
16.55%
Consumer Staples
16.78%
Energy
6.01%
Financials
10.79%
Health Care
17.22%
Industrials
8.99%
Information Technology
8.54%
Materials
2.12%

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.

Country Allocation

As of 03/31/2020

United Kingdom
15.62%
Japan
11.51%
Canada
11.31%
Switzerland
10.34%
China
8.78%
Germany
8.72%
Ireland
8.12%
France
3.78%
Netherlands
3.67%
South Korea
3.61%
Italy
2.44%
Mexico
1.97%
Spain
1.95%
Belgium
1.81%
Sweden
1.77%
Singapore
1.52%
Australia
1.32%
Bermuda
0.98%
Brazil
0.71%
Denmark
0.07%

March Fund Holdings

As of 03/31/2020

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
01609W102 ALIBABA GROUP - ADR CN BABA 69,165 $13,451,209.20
02319V103 AMBEV SA-ADR BR ABEV 1,408,551 $3,239,667.30
0237400 DIAGEO PLC GB DGE LN 336,055 $10,656,119.60
055622104 BP PLC-SPONS ADR GB BP 83,320 $2,032,174.80
0946580 WEIR GROUP PLC/THE GB WEIR LN 511,406 $4,548,501.84
13321L108 CAMECO CORP CA CCJ 925,760 $7,072,806.40
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 317,130 $1,620,240.67
262006208 DREYFUS GVT CSH MANAGEMENT US 10,657,689.97 $10,657,689.97
2715777 QUEBECOR INC -CL B CA QBR/B CN 300,868 $6,651,036.37
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 515,255 $8,358,751.97
2866857 LUNDIN MINING CORP CA LUN CN 522,858 $1,965,408.10
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 52,745 $2,845,065.30
40051E202 GRUPO AEROPORTUARIO DEL SURESTE MX ASR 34,910 $3,286,427.40
4741844 MERCK KGAA DE MRK GR 61,499 $6,209,073.41
5107401 BEIERSDORF AG DE BEI GR 75,796 $7,631,965.61
550021109 LULULEMON - ADR CA LULU 66,985 $12,697,006.75
6253983 ARISTOCRAT LEISURE LTD AU ALL AU 210,414 $2,726,472.72
6356934 FANUC LTD JP 6954 JP 30,100 $4,022,138.10
6490995 KEYENCE CORP JP 6861 JP 30,100 $9,677,528.17
6642321 NIKON CORP JP 7731 JP 809,300 $7,427,970.72
66987V109 NOVARTIS AG- REG CH NVS 198,090 $16,332,520.50
6742340 SHANDONG WEIGAO CN 1066 HK 7,632,000 $9,580,887.60
6771720 SAMSUNG ELECTRONICS CO LTD KR 005930 KS 424,110 $16,490,040.86
6821506 SONY CORP FIRST SECTION JP 6758 JP 219,100 $12,978,077.42
7021963 DEUTSCHE BOERSE AG DE DB1 GR 88,620 $12,174,984.96
7123870 NESTLE SA-REGISTERED CH NESN SW 193,665 $19,825,059.08
76131D103 RESTAURANT BRANDS INTERN CA QSR 211,040 $8,447,931.20
7698356 GETINGE AB-B SHS SE GETIB SS 428,265 $8,098,112.93
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 58,360 $1,906,037.60
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 147,640 $7,838,207.60
806857108 SCHLUMBERGER LTD NL SLB 398,855 $5,380,553.95
81141R100 SEA LTD - ADR SG SE 156,325 $6,926,760.75
89151E109 TOTAL S A SPONSORED ADR FR TOT 158,940 $5,918,925.60
904767704 UNILEVER PLC - ADR GB UL 310,470 $15,700,467.90
B02J639 ADMIRAL GROUP PLC GB ADM LN 619,290 $17,055,289.21
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 848,900 $2,872,787.10
B1Y47Y7 GERRESHEIMER AG DE GXI GR 120,880 $7,622,505.22
B1Y9TB3 DANONE FR BN FP 177,220 $11,341,775.28
B3QJ0H8 TOURMALINE OIL CORP CA TOU CN 791,115 $4,856,984.01
B4YVF56 BRENNTAG AG DE BNR GR 171,160 $6,218,613.55
B63QM77 NEXON CO LTD JP 3659 JP 1,131,400 $18,488,028.55
B7KR2P8 EASY JET PLC GB EZJ LN 891,075 $6,174,743.89
BBQ3850 KEYWORDS STUDIOS PLC IE KWS LN 154,817 $2,740,508.39
BGHVXC0 DRILLING CO OF 1972/THE DK DRLCO DC 15,604 $297,279.14
BGJW376 MEITUAN DIANPING - CLASS B CN 3690 HK 233,300 $2,781,226.84
BJ2KSG2 AKZO NOBEL NL AKZA NA 92,468 $6,081,505.32
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 289,900 $14,329,065.13
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 1,837,945 $6,242,045.57
BNGN9Z1 FINECOBANK SPA IT FBK IM 1,241,150 $11,166,743.04
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 343,270 $8,895,382.25
BVYVFW2 AUTO TRADER GROUP PLC GB AUTO LN 860,890 $4,652,062.05
BYRJH51 HASTINGS GROUP HOLDINGS PLC GB HSTG LN 1,944,460 $4,456,059.20
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 187,395 $8,277,221.03
BZ0VW78 BINGO INDUSTRIES LTD AU BIN AU 2,813,668 $3,300,651.06
BZ1HM42 ADYEN NV NL ADYEN NA 4,010 $3,408,079.85
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 261,985 $4,461,604.55
G1151C101 ACCENTURE PLC - CL A IE ACN 41,070 $6,705,088.20
G5960L103 MEDTRONIC INC IE MDT 135,390 $12,209,470.20
G97822103 PERRIGO CO PLC IE PRGO 158,110 $7,603,509.90
H01301128 ALCON INC CH ALC 218,088 $11,083,232.16

Investments will change over time.

Distributions

  • Overseas Series Class S Distribution History
  • 2020 Distribution Calendar
  • Fourth Quarter 2019 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2020 Distributions
  • Tax Letter
  • World Opportunities Merger into Overseas

A Word About Risk

All investments involve risks, including possible loss of principal. Funds whose investments are concentrated in foreign countries may be subject to fluctuating currency values, different accounting standards, and economic and political instability. The value of the Series may be affected by changes in exchange rates between foreign currencies and the U.S. dollar. Investments in emerging markets may be more volatile than investments in more developed markets.


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