Investment Objective

To provide capital growth and manage risk for investors planning to retire (or meet another investment goal) in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets, with only a minor portion of the portfolio invested in fixed income securities. Stock exposure can range from 70% - 95%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2055.
  • Who generally have time to withstand market volatility and can accept very significant fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$12.27

Daily $ Change

$0.10

Daily % Change

0.81%

as of 02/15/2019

Ticker

MTZKX

CUSIP

56382P260

Inception Date

06/25/2012

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans and participants in an automatic investment program.

Important Documents

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

Information on Underlying Investments

Blended Asset Series Prospectus
Blended Asset Series SAI
XBRL Blended Asset Series – 11/02/2017
Blended Asset Series Annual Report
Blended Asset Series Semi-Annual Report

The financial statements of the underlying investments should be read in conjunction with the Series’ financial statements. Beginning 10/16/2017, the underlying funds are the Manning & Napier Fund, Inc. Blended Asset Series. The Blended Asset Series are not currently available for direct investment.

Performance

As of 01/31/2019

YTD

7.64%

1 Year

-4.70%

3 Year

10.62%

5 Year

5.79%

10 Year

---

Inception
(06/25/2012)

9.91%

Market Cycle

---

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 3.15%
Net 1.01%*

*Includes acquired fund fees and expenses of the underlying Series, and a 12b-1 fee of 0.25%. Up to 0.25% of the 12b-1 fee 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 prior to the expiration date (02/29/2028) without the approval of the Fund's Board of Directors.

Top Ten Investments

As of 01/31/2019

TREASURY NOTES 7.00%
MONDELEZ INTERNATIONAL INC 2.07%
MASTERCARD INC-CLASS A 1.99%
JOHNSON & JOHNSON 1.99%
COCA COLA CO/THE 1.97%
BOOKING HOLDINGS INC 1.81%
TREASURY BONDS 1.75%
MEDTRONIC INC 1.72%
NOVARTIS AG- REG 1.66%
AMERICAN TOWER REIT INC 1.62%

Top Ten Investments list is unaudited and excludes cash.

Asset Allocation

As of 01/31/2019

Stocks 83.78%
Bonds 14.34%
Cash 1.88%

Detailed Asset Class Allocation

As of 01/31/2019

International Equities 25.26%
Small Capitalization 2.59%
Mid Capitalization 7.00%
Large Capitalization 48.93%
Long Term Fixed Income 2.61%
Intermediate Term Fixed Income 9.46%
Short Term Fixed Income 2.27%
Cash 1.88%

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

January Fund Holdings

As of 01/31/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAH9 ADT SEC CORP 4.12500 06/15/2023 US 2,155.74 $2,074.90
00101JAM8 ADT CORP 5.25000 03/15/2020 US 1,616.81 $1,641.06
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 11,856.59 $11,999.90
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 26,946.8 $27,014.17
004239109 ACADIA REALTY TRUST US AKR 23.17 $665.80
0045614 ANTOFAGASTA PLC GB ANTO LN 2,485.03 $28,408.68
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 11,856.59 $11,601.56
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 3,787.1 $95,435.01
0081180 BARRATT DEVELOPMENTS PLC GB BDEV LN 283.48 $2,005.09
008492100 AGREE REALTY CORP US ADC 14.01 $925.23
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 2,155.74 $2,202.10
0136701 BRITISH LAND CO PLC GB BLND LN 132.58 $998.72
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 5.39 $709.83
01609W102 ALIBABA GROUP - ADR CN BABA 25.33 $4,267.85
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 1,940.17 $1,957.15
02079K107 ALPHABET INC-CL C US GOOG 84.61 $94,459.37
02079K305 ALPHABET INC-CL A US GOOGL 84.07 $94,658.10
02209S103 ALTRIA GROUP INC US MO 1,391.53 $68,672.15
023135106 AMAZON.COM INC US AMZN 72.76 $125,048.55
02319V103 AMBEV SA-ADR BR ABEV 21,323 $102,563.65
0237400 DIAGEO PLC GB DGE LN 2,157.9 $82,359.14
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 2,155.74 $2,171.05
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 21.56 $992.07
0263494 BAE SYSTEMS PLC GB BA/ LN 532.47 $3,582.11
02665T306 AMERICAN HOMES 4 RENT- A US AMH 124.49 $2,752.57
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 5,389.36 $5,191.15
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 2,694.68 $2,506.05
03027X100 AMERICAN TOWER REIT INC US AMT 1,033.14 $178,567.99
03064D108 AMERICOLD REALTY TRUST US COLD 21.02 $616.26
03748R101 APARTMENT INVT & MGMT CO -A US AIV 39.88 $1,974.92
03784Y200 APPLE HOSPITALITY REIT INC US APLE 38.26 $627.92
0405207 HALMA PLC GB HLMA LN 111.56 $2,051.79
0490656 KERRY GROUP PLC-A IE KYGA LN 37.73 $3,879.77
053332102 AUTOZONE INC US AZO 200.48 $169,878.29
053484101 AVALONBAY COMMUNITIES INC US AVB 28.02 $5,406.52
058498106 BALL CORP US BLL 1,841.01 $96,247.77
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 17,245.95 $17,381.49
0682538 PERSIMMON PLC GB PSN LN 63.59 $1,983.86
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 806.25 $165,716.28
0870612 LLOYDS BANKING GROUP PLC GB LLOY LN 2,691.99 $2,052.27
0878230 TAYLOR WIMPEY PLC GB TW/ LN 917.27 $1,988.86
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 1,296.14 $127,242.18
0922320 SMITH & NEPHEW PLC GB SN/ LN 144.43 $2,720.96
09247X101 BLACKROCK INC US BLK 344.38 $142,945.31
0946580 WEIR GROUP PLC/THE GB WEIR LN 309.35 $6,121.89
096630AE8 BOARDWALK PIPELINES LP 5.95000 06/01/2026 US 17,245.95 $17,711.86
09857L108 BOOKING HOLDINGS INC US BKNG 108.33 $198,541.24
101121101 BOSTON PROPERTIES INC US BXP 31.8 $4,193.10
105368203 BRANDYWINE REALTY TRUST US BDN 173 $2,603.63
110448107 BRITISH AMERICAN TOB-SP ADR GB BTI 54.43 $1,920.38
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 1,616.81 $1,539.01
12503M108 CBOE GLOBAL MARKETS INC US CBOE 708.7 $66,100.53
125269100 CF INDUSTRIES HOLDINGS INC US CF 1,514.95 $66,127.53
12572Q105 CME GROUP INC US CME 370.25 $67,489.00
12592BAB0 CNH INDUSTRIAL CAPITAL L 3.37500 07/15/2019 US 15,090.21 $15,117.20
133131102 CAMDEN PROPERTY TRUST US CPT 6.47 $627.00
13321L108 CAMECO CORP CA CCJ 140.66 $1,704.83
134429109 CAMPBELL SOUP CO US CPB 2,527.07 $89,534.13
156504AH5 CENTURY COMMUNITIES 5.87500 07/15/2025 US 11,425.44 $10,511.41
165240102 CHESAPEAKE LODGING TRUST US CHSP 32.34 $920.93
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 6,467.23 $9,430.86
191216100 COCA COLA CO/THE US KO 4,492.57 $216,227.44
192422103 COGNEX CORP US CGNX 1,168.41 $53,162.81
194162103 COLGATE-PALMOLIVE CO US CL 1,195.9 $77,350.75
2011646 ALIMENTATION COUCHE-TARD -B CA ATD/B CN 39.34 $2,137.26
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 63.06 $2,082.09
2162760 CAE INC CA CAE CN 72.76 $1,545.99
2180632 CANADIAN NATL RAILWAY CO CA CNR CN 17.25 $1,439.19
21871N101 CORECIVIC INC US CXW 92.16 $1,831.18
222795106 COUSINS PROPERTIES INC US CUZ 314.74 $2,785.44
22282EAH5 COVANTA HOLDING CORP 6.00000 01/01/2027 US 3,233.62 $3,096.19
22822V101 CROWN CASTLE INTL CORP US CCI 15.63 $1,829.55
228368106 CROWN HOLDINGS INC US CCK 771.76 $39,359.58
229663109 CUBESMART US CUBE 17.78 $550.44
2328595 BANCO DO BRASIL S.A. BR BBAS3 BZ 86.23 $1,226.11
23311RAD8 DCP MIDSTREAM OPERATING 5.35000 03/15/2020 US 1,616.81 $1,641.06
2347608 FIRST QUANTUM MINERALS LTD CA FM CN 107.79 $1,247.72
23918K108 DAVITA INC. US DVA 1,262.19 $70,846.63
23918KAR9 DAVITA INC 5.00000 05/01/2025 US 3,233.62 $3,112.36
2434760 MEXICHEM SAB DE CV MX MEXCHEM* MM 700.62 $1,876.27
2458771 ITAUSA INVESTIMENTOS ITAU -PR BR ITSA4 BZ 312.58 $1,157.02
2516710 LOJAS AMERICANAS SA - PREF BR LAME4 BZ 118.57 $684.96
25271C102 DIAMOND OFFSHORE DRILLING US DO 2,399.34 $26,224.82
253868103 DIGITAL REALTY TRUST INC US DLR 30.18 $3,269.75
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 12,934.47 $12,226.17
256677105 DOLLAR GENERAL CORP US DG 603.61 $69,674.51
256746108 DOLLAR TREE STORES INC US DLTR 981.94 $95,081.39
2583952 METRO INC CA MRU CN 54.97 $1,998.54
26780TAA5 DYNAGAS LNG PARTNERS/FIN 6.25000 10/30/2019 MH 3,018.04 $2,935.05
269246401 ETRADE FINANCIAL CORP US ETFC 1,101.05 $51,374.82
2715777 QUEBECOR INC -CL B CA QBR/B CN 3,257.33 $76,676.59
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 3,685.24 $74,829.58
285512109 ELECTRONIC ARTS US EA 1,045.54 $96,440.23
2866857 LUNDIN MINING CORP CA LUN CN 5,397.44 $24,646.80
29278D105 ENEL CHILE SA-ADR CL ENIC 267.31 $1,451.51
29444U700 EQUINIX INC US EQIX 209.65 $82,600.57
2945422 WEG SA BR WEGE3 BZ 129.34 $668.14
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 14.55 $1,540.69
29476L107 EQUITY RESIDENTIAL US EQR 60.36 $4,379.78
297178105 ESSEX PROPERTY TRUST INC US ESS 9.7 $2,630.87
30225T102 EXTRA SPACE STORAGE INC US EXR 15.09 $1,488.05
30264DAA7 FS ENERGY & POWER FUND 7.50000 08/15/2023 US 3,233.62 $3,213.41
3134865 BARCLAYS PLC GB BARC LN 952.3 $1,984.93
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 5.39 $714.47
31410HAQ4 MACYS RETAIL HLDGS INC 6.90000 04/01/2029 US 5,389.36 $5,657.89
31428X106 FEDEX CORPORATION US FDX 618.16 $109,766.61
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 1,077.87 $1,037.45
32054K103 FIRST INDUSTRIAL REALTY TR US FR 33.41 $1,093.31
335934AK1 FIRST QUANTUM MINERALS L 7.25000 04/01/2023 CA 1,077.87 $1,032.07
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 2,694.68 $2,586.89
35671D857 FREEPORT-MCMORAN INC US FCX 3,767.16 $43,849.78
35802XAD5 FRESENIUS MED CARE II 5.62500 07/31/2019 US 1,940.17 $1,959.15
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 11,856.59 $10,374.52
37045VAR1 GENERAL MOTORS CO FLT 3.66713 09/10/2021 US 11,856.59 $11,607.60
37185LAF9 GENESIS ENERGY LP/GENESI 5.62500 06/15/2024 US 2,155.74 $1,983.28
374297109 GETTY REALTY CORP US GTY 39.34 $1,261.32
37953TAB1 GLOBAL SHIP LEASE INC 9.87500 11/15/2022 MH 3,233.62 $3,140.65
39807UAB2 GREYSTAR REAL ESTATE PAR 5.75000 12/01/2025 US 3,233.62 $3,209.36
400506101 GRUPO AEROPORTUARIO PAC-ADR MX PAC 14.01 $1,263.07
4012250 AIRBUS SE FR AIR FP 22.1 $2,546.82
40414L109 HCP INC US HCP 69.52 $2,192.75
4057808 L'OREAL FR OR FP 7.55 $1,818.56
4061412 LVMH MOET HENNESSY LOUIS VUITTON FR MC FP 9.7 $3,112.03
406216101 HALLIBURTON CO US HAL 2,271.62 $71,237.86
4076836 INTESA SANPAOLO IT ISP IM 656.96 $1,503.21
4162791 THALES SA FR HO FP 3.23 $357.60
4163437 CAP GEMINI FR CAP FP 5.93 $654.69
421946104 HEALTHCARE REALTY TRUST INC US HR 58.74 $1,896.84
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 93.24 $2,649.77
44107P104 HOST MARRIOTT CORP US HST 90 $1,625.44
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 4,850.42 $4,644.28
45031UCD1 ISTAR INC 5.25000 09/15/2022 US 2,155.74 $2,122.33
45337C102 INCYTE CORP US INCY 1,337.1 $107,756.92
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 114.79 $1,199.59
4574813 MEDIOBANCA SPA IT MB IM 170.84 $1,488.85
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 922.66 $70,823.27
459745GH2 INTL LEASE FINANCE CORP 6.25000 05/15/2019 US 16,168.08 $16,305.94
46120E602 INTUITIVE SURGICAL INC US ISRG 205.33 $107,521.43
46187W107 INVITATION HOMES INC US INVH 92.59 $2,082.33
464286624 ISHARES MSCI THAILAND ETF TH 91.4 $8,308.58
464289180 ISHARES MSCI EUROPE FINANCIA XX 354.62 $6,390.25
46625HHL7 JPMORGAN CHASE & CO 6.30000 04/23/2019 US 22,635.31 $22,808.54
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 8,622.98 $8,835.41
4682329 PERNOD-RICARD SA FR RI FP 7.55 $1,251.83
4712798 RENAULT SA FR RNO FP 9.16 $648.34
4741844 MERCK KGAA DE MRK GR 466.72 $49,004.92
476405105 JERNIGAN CAPITAL INC US JCAP 64.67 $1,402.10
478160104 JOHNSON & JOHNSON US JNJ 1,642.68 $218,607.47
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 11,748.81 $8,694.12
4821100 SOLVAY SA BE SOLB BB 45.27 $4,928.59
4834108 SCHNEIDER ELECTRIC SE FR SU FP 19.94 $1,418.21
4834777 VIVENDI FR VIV FP 31.26 $797.05
49446R109 KIMCO REALTY CORP US KIM 59.82 $1,017.57
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 15,090.21 $17,816.83
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 2,694.68 $2,593.63
50212YAB0 LPL HOLDINGS INC 5.75000 09/15/2025 US 1,616.81 $1,589.81
502160AM6 LSB INDUSTRIES 9.62500 05/01/2023 US 3,233.62 $3,290.20
5107401 BEIERSDORF AG DE BEI GR 901.64 $90,255.59
5176177 ORANGE FR ORA FP 58.74 $911.14
5253973 HERMES INTERNATIONAL FR RMS FP 1.08 $645.96
5263574 FLSMIDTH & CO A/S DK FLS DC 9.16 $429.42
529043101 LEXINGTON REALTY TRUST US LXP 116.95 $1,123.88
531172104 LIBERTY PROPERTY TRUST US LPT 52.28 $2,464.33
5330047 DASSAULT SYSTEMES SA FR DSY FP 4.85 $607.91
53815P108 LIVERAMP HOLDINGS INC US RAMP 3,423.32 $148,709.10
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 1,616.81 $1,552.14
5474008 BANKINTER S.A. ES BKT SM 378.33 $2,954.11
550021109 LULULEMON - ADR CA LULU 894.09 $132,156.17
5505072 KERING FR KER FP 2.69 $1,351.44
55616XAC1 MACYS RETAIL HLDGS INC 7.00000 02/15/2028 US 5,389.36 $5,599.01
55933JAB0 MAGNACHIP SEMICONDUCTOR 6.62500 07/15/2021 US 3,018.04 $2,867.14
5596991 UCB SA BE UCB BB 23.17 $2,008.12
5669354 REPSOL SA ES REP SM 262.29 $4,604.02
5671519 WOLTERS KLUWER NL WKL NA 22.64 $1,407.71
5671735 SANOFI-AVENTIS FR SAN FP 35.57 $3,091.64
5701513 ELISA OYJ FI ELISA FH 31.8 $1,330.32
5713422 METSO OYJ FI METSO FH 16.71 $491.49
5727973 SIEMENS AG-REG DE SIE GR 25.33 $2,781.17
5735631 TAG IMMOBILIEN AG DE TEG GR 87.31 $2,206.59
57636Q104 MASTERCARD INC-CLASS A US MA 1,036.37 $218,809.65
58502BAC0 MEDNAX INC 6.25000 01/15/2027 US 2,155.74 $2,171.91
58933Y105 MERCK & CO INC US MRK 553.49 $41,196.06
59001ABA9 MERITAGE HOMES CORP 5.12500 06/06/2027 US 2,155.74 $1,934.09
594918104 MICROSOFT CORP US MSFT 1,585.55 $165,578.97
59522J103 MID-AMERICA APARTMENT COMM US MAA 18.32 $1,855.84
5966516 SOCIETE GENERALE FR GLE FP 30.18 $941.01
5980613 GIVAUDAN - REG CH GIVN SW .54 $1,307.49
6055112 AYALA LAND INC PH ALI PM 1,907.83 $1,630.07
6074968 BANK OF THE PHILIPPINE ISLAN PH BPI PM 463.49 $811.28
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 4,913.48 $227,297.58
615369105 MOODY'S CORPORATION US MCO 602.53 $95,507.11
61744YAG3 MORGAN STANLEY FLT 3.81125 05/08/2024 US 17,245.95 $17,287.17
6175076 KT&G CORP KR 033780 KS 14.01 $1,247.68
6196408 CHUGAI PHARMACEUTICAL CO LTD JP 4519 JP 21.56 $1,272.89
6211732 DAEWOO SHIPBUILDING& MARINE KR 042660 KS 37.19 $1,244.05
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 4,311.49 $4,354.60
6264189 NCSOFT CORP KR 036570 KS 4.31 $1,815.50
6272483 DMCI HOLDINGS INC PH DMC PM 2,630.01 $636.04
6284864 GLOBE TELECOM INC PH GLO PM 19.94 $775.58
62913TAM4 NGL ENRGY PART LP/FIN CO 6.12500 03/01/2025 US 3,233.62 $2,922.38
6291819 CHINA PETROLEUM & CHEMICAL - H CN 386 HK 5,389.36 $4,506.56
6308913 ELBIT SYSTEMS LTD IL ESLT IT 11.32 $1,401.94
6356934 FANUC LTD JP 6954 JP 10.78 $1,833.26
637417106 NATIONAL RETAIL PROPERTIES US NNN 23.71 $1,249.92
637870106 NATIONAL STORAGE AFFILIATES US NSA 19.94 $580.27
63938CAE8 NAVIENT CORP 7.25000 09/25/2023 US 1,616.81 $1,645.10
64110W102 NETEASE.COM INC- ADR CN NTES 3.23 $814.64
6441506 HOYA CORP JP 7741 JP 32.34 $1,876.71
6446620 HYUNDAI HEAVY INDUSTRIES KR 009540 KS 34.49 $4,316.43
6451066 HYUNDAI MIPO DOCKYARD KR 010620 KS 76.53 $4,336.59
6467104 ISUZU MOTORS LTD JP 7202 JP 97.01 $1,443.04
6472119 JARDINE MATHESON HLDGS LTD HK JM SP 19.94 $1,333.92
6474494 JOLLIBEE FOODS CORP PH JFC PM 161.68 $981.91
647581107 NEW ORIENTAL EDUCATIO- SP ADR CN EDU 54.43 $4,193.48
6482903 KANAMOTO CO LTD JP 9678 JP 75.45 $2,096.38
6490809 KIKKOMAN CORP JP 2801 JP 53.89 $2,867.13
6490995 KEYENCE CORP JP 6861 JP 118.03 $60,738.53
6514442 METROPOLITAN BANK & TRUST PH MBT PM 637.02 $1,028.26
6518808 LION CORP JP 4912 JP 97.01 $2,021.75
6531827 GEELY AUTOMOBILE HOLDINGS LT CN 175 HK 1,077.87 $1,833.89
654106103 NIKE INC CLASS B US NKE 1,791.96 $146,725.88
6641588 NISSAN CHEMICAL INDUSTRIES JP 4021 JP 53.89 $2,865.47
6642387 YAMAHA CORP JP 7951 JP 64.67 $2,830.29
6648891 ORIENTAL LAND CO LTD FIRST SECT JP 4661 JP 10.78 $1,105.18
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 4,850.42 $4,831.99
6683449 KANGWON LAND INC KR 035250 KS 45.81 $1,401.56
66987V109 NOVARTIS AG- REG CH NVS 2,079.75 $182,020.09
67020YAQ3 NUANCE COMMUNICATIONS 5.62500 12/15/2026 US 2,155.74 $2,112.63
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 208.03 $71,699.38
6742340 SHANDONG WEIGAO CN 1066 HK 2,155.74 $1,806.22
6743882 JAPAN EXCHANGE GROUP INC JP 8697 JP 118.57 $2,087.79
6772217 SAMSUNG HEAVY INDUSTRIES KR 010140 KS 148.75 $1,221.83
6791591 SECOM CO LTD JP 9735 JP 10.78 $902.42
680665205 OLIN CORP US OLN 2,086.22 $49,255.69
6818843 SM PRIME HOLDINGS INC PH SMPH PM 2,654.26 $1,946.14
6865504 SUZUKI MOTOR CORP JP 7269 JP 53.89 $2,814.35
6885074 TERUMO CORP JP 4543 JP 21.56 $1,230.76
6895200 TOHO CO LTD JP 9602 JP 32.34 $1,179.60
6913168 GUANGDONG INVESTMENT LTD HK 270 HK 1,293.45 $2,470.07
69145LAA2 OXFORD FIN LLC/CO-ISS II 6.37500 12/15/2022 US 2,155.74 $2,182.69
6919519 UNIVERSAL ROBINA CORP PH URC PM 531.39 $1,511.30
6979728 WOODSIDE PETROLEUM LTD AU WPL AU 134.73 $3,370.15
6985112 YAKULT HONSHA CO LTD JP 2267 JP 10.78 $719.35
70014LAC4 PARK AEROSPACE HOLDINGS 4.50000 03/15/2023 KY 2,586.89 $2,538.39
7021963 DEUTSCHE BOERSE AG DE DB1 GR 198.33 $26,406.96
7062713 SODEXO FR SW FP 13.47 $1,402.60
7088429 AXA SA FR CS FP 79.22 $1,837.20
7103065 NOVARTIS AG-REG CH NOVN SW 55.51 $4,846.10
7103526 PEUGEOT SA FR UG FP 18.32 $460.94
7110388 ROCHE HOLDING AG-GENUSSCHEIN CH ROG SW 19.4 $5,161.54
7110902 TECAN GROUP AG-REG CH TECN SW 4.85 $979.47
7123870 NESTLE SA-REGISTERED CH NESN SW 1,253.03 $109,243.71
7133608 EQUINOR ASA NO EQNR NO 183.24 $4,189.96
713448108 PEPSICO INC US PEP 1,299.37 $146,400.56
7145056 ENI SPA IT ENI IM 255.46 $4,331.45
7156036 SONOVA HOLDING AG-REG CH SOON SW 15.63 $2,933.21
718172109 PHILIP MORRIS INTERNATIONAL US PM 1,582.32 $121,395.30
71943U104 PHYSICIANS REALTY TRUST US DOC 158.99 $2,879.24
7212477 ESSILORLUXOTTICA FR EL FP 7.55 $955.81
7262610 CREDIT AGRICOLE SA FR ACA FP 53.35 $609.38
729640102 PLYMOUTH INDUSTRIAL REIT INC US 33.95 $544.61
7309681 BNP PARIBAS FR BNP FP 46.89 $2,209.61
7380482 COMPAGNIE DE SAINT-GOBAIN FR SGO FP 17.25 $595.12
741503AZ9 PRICELINE GROUP INC/THE 3.60000 06/01/2026 US 18,323.83 $18,015.34
74340W103 PROLOGIS US PLD 81.38 $5,628.20
744320AL6 PRUDENTIAL FINANCIAL INC 5.87500 09/15/2042 US 10,778.72 $11,209.87
74460D109 PUBLIC STORAGE INC US PSA 15.63 $3,321.51
74736K101 QORVO INC US QRVO 2,427.37 $158,652.77
749685103 RPM INTERNATIONAL INC US RPM 1,204.74 $68,862.80
756109104 REALTY INCOME CORP US O 11.32 $777.41
75886F107 REGENERON PHARMACEUTICALS INC US REGN 128.81 $55,292.43
76131D103 RESTAURANT BRANDS INTERN CA QSR 30.72 $1,924.57
7698356 GETINGE AB-B SHS SE GETIB SS 94.85 $1,071.01
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 2,694.68 $2,741.84
77714PAB5 SEMGROUP / ROSE ROCK FIN 5.62500 07/15/2022 US 1,077.87 $1,023.98
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 100.24 $6,295.20
783513203 RYANAIR HOLDINGS - ADR IE RYAAY 24.79 $1,760.17
78409V104 S&P GLOBAL INC US SPGI 499.05 $95,643.85
78410G104 SBA COMMUNICATIONS CORP US SBAC 928.59 $169,494.95
78442PGC4 SLM CORP 5.12500 04/05/2022 US 3,233.62 $3,136.61
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 16,168.08 $17,519.18
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 11,856.59 $12,072.82
806857108 SCHLUMBERGER LTD NL SLB 1,757.47 $77,697.77
808513105 CHARLES SCHWAB CORP/THE US SCHW 1,992.99 $93,211.93
81141R100 SEA LTD - ADR SG SE 143.9 $2,015.98
81211K100 SEALED AIR CORP US SEE 2,406.35 $95,050.80
812578102 SEATTLE GENETICS INC US SGEN 985.18 $75,296.93
81762P102 SERVICENOW INC US NOW 731.34 $160,908.59
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 2,155.74 $1,956.34
828806109 SIMON PROPERTY GROUP INC US SPG 37.73 $6,870.57
84265V105 SOUTHERN COPPER CORPORATION US SCCO 1,729.45 $58,143.97
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 15,090.21 $15,506.70
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 2,263.53 $2,195.63
85254J102 STAG INDUSTRIAL INC US STAG 51.74 $1,426.41
862121100 STORE CAPITAL CORP US STOR 22.1 $714.15
866674104 SUN COMMUNITIES US SUI 23.71 $2,606.32
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 82.46 $1,179.14
874080104 TAL EDUCATION GROUP - ADR CN TAL 35.57 $1,103.73
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 2,155.74 $2,012.93
88104LAE3 TERRAFORM POWER OPERATIN 5.00000 01/31/2028 US 2,155.74 $2,002.15
883556102 THERMO FISHER SCIENTIFIC INC US TMO 226.35 $55,608.18
88650V208 TIER REIT INC US TIER 100.78 $2,368.35
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 3,018.04 $2,984.90
902653104 UDR INC US UDR 65.21 $2,852.99
903002103 UMH PROPERTIES INC US UMH 47.43 $665.39
90384S303 ULTA BEAUTY INC US ULTA 255.46 $74,572.62
904767704 UNILEVER PLC - ADR GB UL 2,395.57 $126,007.02
912810PT9 UNITED STATES TREAS BOND 4.75000 02/15/2037 US 107,248.27 $137,328.06
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 26,714.42 $24,942.85
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 55,510.41 $55,441.03
9128282N9 US TREASURY N/B 2.12500 07/31/2024 US 557,583.24 $547,738.41
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 108,929.62 $107,484.32
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 118,565.93 $111,359.35
912828UH1 UNITED STATES TREAS INFL INDEX 0.12500 01/15/2023 US 26,928.37 $26,315.01
912828X88 US TREASURY N/B 2.37500 05/15/2027 US 112,422.06 $110,683.03
91704F104 URBAN EDGE PROPERTIES US UE 86.23 $1,760.81
92276F100 VENTAS INC US VTR 21.56 $1,390.24
92339V100 VEREIT INC US VER 233.9 $1,889.90
92343VDV3 VERIZON COMMUNICATIONS 5.50000 03/16/2047 US 16,168.08 $18,091.58
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 246.29 $47,019.94
92826C839 VISA INC - CLASS A SHARES US V 1,228.24 $165,824.04
929042109 VORNADO REALTY TRUST US VNO 29.64 $2,072.24
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 2,694.68 $2,620.58
92960PAA7 W/S PACKAGING HOLDINGS 9.00000 04/15/2023 US 2,155.74 $2,166.52
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 2,802.47 $2,578.27
948741103 WEINGARTEN REALTY INVESTORS US WRI 56.59 $1,623.52
95040Q104 WELLTOWER INC. US WELL 25.87 $2,004.58
962178AL3 TRI POINTE HOLDINGS INC 4.37500 06/15/2019 US 3,233.62 $3,233.62
962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 2,694.68 $2,597.00
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 8,622.98 $8,389.37
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 1,823.76 $50,062.20
B00FM53 BANCO BRADESCO SA - PREF BR BBDC4 BZ 183.24 $2,273.90
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 215.57 $1,258.43
B01FLR7 PING AN INSURANCE GROUP CO-H CN 2318 HK 323.36 $3,148.11
B01JCK9 LI NING CO LTD CN 2331 HK 2,560.49 $3,150.48
B02J639 ADMIRAL GROUP PLC GB ADM LN 52.28 $1,421.51
B02L3W3 BERKELEY GROUP HOLDINGS GB BKG LN 40.42 $1,990.15
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 199.41 $2,120.25
B058TZ6 SAFRAN SA FR SAF FP 11.32 $1,487.02
B068DB9 SM INVESTMENTS CORP PH SM PM 75.45 $1,439.33
B07DRZ5 RECORDATI SPA IT REC IM 40.42 $1,464.68
B09DHL9 MTU AERO ENGINES HOLDING AG DE MTX GR 7.55 $1,627.04
B0C2CQ3 ENGIE FR ENGI FP 53.89 $863.98
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 125.03 $1,559.83
B0JDQD4 BANDAI NAMCO HOLDINGS INC JP 7832 JP 64.67 $2,857.01
B0SWJX3 LONDON STOCK EXCHANGE GROUP GB LSE LN 481.81 $28,976.37
B0YZ0Z5 DEUTSCHE WOHNEN SE DE DWNI GR 88.6 $4,426.26
B15C557 TOTAL SA FR FP FP 75.99 $4,165.85
B19NLV4 EXPERIAN PLC GB EXPN LN 56.05 $1,407.26
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 250.07 $3,907.16
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 237.13 $1,324.53
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 62.52 $3,061.53
B1XH026 VINCI SA FR DG FP 1,202.37 $105,796.53
B1Y9TB3 DANONE FR BN FP 80.84 $5,882.89
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 754.51 $3,903.05
B1YXBJ7 AIR LIQUIDE FR AI FP 14.01 $1,701.09
B1Z9Q99 ABOITIZ POWER CORP PH AP PM 1,131.77 $835.85
B247XZ6 MANILA ELECTRIC COMPANY PH MER PM 180 $1,266.27
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 64.67 $1,997.87
B283W97 CAIXABANK S.A ES CABK SM 19,323.55 $73,081.45
B2B0DG9 RELX PLC GB REL LN 65.21 $1,444.39
B3NB1P2 SUNCOR ENERGY INC CA SU CN 136.35 $4,397.84
B3ZCNF7 TELEFONICA BRASIL S.A. - PREF BR VIVT4 BZ 107.79 $1,438.96
B4975P9 MAGAZINE LUIZA SA BR MGLU3 BZ 10.78 $529.21
B4R2R50 JULIUS BAER CH BAER SW 1,928.85 $77,524.92
B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 86.23 $1,136.51
B5VJH76 BDO UNIBANK INC PH BDO PM 554.03 $1,439.43
B607XS1 VERMILION ENERGY INC CA VET CN 142.28 $3,486.73
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 364.86 $4,106.12
B63QM77 NEXON CO LTD JP 3659 JP 374.45 $5,696.73
B725S29 PUREGOLD PRICE CLUB INC PH PGOLD PM 700.62 $612.14
B7311V6 KALBE FARMA TBK PT ID KLBF IJ 12,535.65 $1,436.71
B7T7721 ROYAL BANK OF SCOTLAND GB RBS LN 640.8 $2,032.73
B800MQ5 ASTRA INTERNATIONAL TBK PT ID ASII IJ 2,381.56 $1,444.78
B8FMRX8 COLOPLAST-B DK COLOB DC 15.09 $1,378.48
B8K9X70 GRAND CITY PROPERTIES DE GYC GR 93.02 $2,314.39
B92RW83 LT GROUP INC PH LTG PM 2,155.74 $642.41
B9895B7 COCA-COLA HBC AG-DI CH CCH LN 61.44 $2,064.90
B9G6L89 LEG IMMOBILIEN AG DE LEG GR 28.56 $3,355.40
B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 97.01 $826.14
BBD7Q84 SUNTORY BEVERAGE & FOOD LTD JP 2587 JP 21.56 $954.49
BBJPFY1 VONOVIA SE DE VNA GR 90.54 $4,550.47
BD0Q398 KONINKLIJKE AHOLD DELHAIZE N NL AD NA 74.91 $1,973.64
BD1WX84 ENGIE BRASIL ENERGIA SA BR EGIE3 BZ 158.99 $1,824.30
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 3,018.04 $1,303.18
BD4T6W7 TELEKOMUNIKASI INDONESIA PER ID TLKM IJ 5,152.23 $1,437.88
BD4TZK8 OCI NV NL OCI NA 57.13 $1,208.10
BD6K457 COMPASS GROUP PLC GB CPG LN 63.59 $1,360.83
BD9Y5C0 TECHNOGYM SPA IT TGYM IM 178.39 $2,068.41
BD9Y9B7 BASIC-FIT NV NL BFIT NA 66.83 $2,044.50
BDFLHY1 AIRPORTS OF THAILAND PCL-FOR TH AOT/F TB 657.5 $1,456.09
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 3,664.77 $1,497.40
BDZV116 EPIROC AB-A SE EPIA SS 47.97 $460.58
BF7LBH4 ATACADAO DISTRIBUICAO COMERC BR CRFB3 BZ 129.34 $708.93
BFTCYP4 ROBINSONS RETAIL HOLDINGS IN PH RRHI PM 376.18 $635.26
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 24.25 $4,361.78
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 140.12 $1,209.06
BG7ZWY7 AMBEV SA BR ABEV3 BZ 485.04 $2,328.66
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 689.84 $1,037.52
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 3,988.13 $3,270.23
BHC8X90 NOVO NORDISK A/S-B DK NOVOB DC 29.1 $1,363.92
BJ2KSG2 AKZO NOBEL NL AKZA NA 1,094.16 $94,171.24
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 2,528.58 $112,558.78
BNGN9Z1 FINECOBANK SPA IT FBK IM 4,719.68 $51,321.51
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 2,800.31 $78,333.54
BSQXJ01 THULE GROUP AB/THE SE THULE SS 162.76 $3,323.00
BSS7GP5 AGL ENERGY LTD AU AGL AU 135.81 $2,122.02
BYMXPS7 UNICREDIT SPA IT UCG IM 127.94 $1,479.08
BYNXBZ5 ADO PROPERTIES SA DE ADJ GR 18.32 $1,099.97
BYW0PQ6 LAND SECURITIES GROUP PLC GB LAND LN 87.31 $992.89
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 4,958.21 $2,005.93
BYXS699 QIAGEN N.V. NL QIA GR 64.13 $2,368.68
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 1,470.76 $112,370.42
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 536.24 $2,374.39
BZ3C3Q4 BANKIA SA ES BKIA SM 1,041.76 $3,036.71
BZ4CMZ5 DAVIDE CAMPARI-MILANO SPA IT CPR IM 314.2 $2,822.94
G02602103 AMDOCS LTD GG DOX 1,643.75 $91,853.03
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 2,139.04 $54,802.13
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 53.35 $1,870.08
G25839104 COCA-COLA EUROPEAN PARTNERS GB CCEP 41.5 $1,974.48
G27358103 DESPEGAR.COM CORP AR DESP 64.13 $963.28
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 3,233.62 $3,282.12
G5960L103 MEDTRONIC INC IE MDT 2,140.12 $189,164.77
G84720104 STERIS PLC GB STE 18.86 $2,151.49
G97822103 PERRIGO CO PLC IE PRGO 791.7 $36,774.33
H8817H100 TRANSOCEAN LTD US RIG 4,970.07 $42,593.48
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 12.93 $1,447.63
N22717107 CORE LABORATORIES N.V. NL CLB 32.34 $2,181.40
N47279109 INTERXION HOLDING NV NL INXN 921.58 $55,331.70
N59465109 MYLAN NV US MYL 1,168.95 $35,010.12
N72482123 QIAGEN N.V. ADR NL QGEN 1,978.97 $73,281.38
USD US DOLLAR US 210,601.99 $210,601.99

Based on the investments of the underlying fund(s): Manning & Napier Fund, Inc. Pro-Blend® Maximum Term Series through 10/15/2017, and Manning & Napier Fund, Inc. Blended Asset Maximum Series beginning 10/16/2017. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

Distributions

  • Target 2055 Series Class K Distribution History
  • 2019 Distribution Calendar
  • Fourth Quarter 2018 Distributions
  • Third Quarter 2018 Distributions
  • Second Quarter 2018 Distributions
  • First Quarter 2018 Distributions
  • Tax Letter

A Word About Risk

Each Manning & Napier Fund, Inc. Target Series is invested in one or two of four proprietary risk-based funds based on the Target Series 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).

Daily Price

$12.27

Daily $ Change

$0.10

Daily % Change

0.81%

as of 02/15/2019

Ticker

MTZKX

CUSIP

56382P260

Inception Date

06/25/2012

Investment Minimum

$2,000.00

Investment minimum may be waived for certain qualified retirement plans and participants in an automatic investment program.

Important Documents

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

Information on Underlying Investments

Blended Asset Series Prospectus
Blended Asset Series SAI
XBRL Blended Asset Series – 11/02/2017
Blended Asset Series Annual Report
Blended Asset Series Semi-Annual Report

The financial statements of the underlying investments should be read in conjunction with the Series’ financial statements. Beginning 10/16/2017, the underlying funds are the Manning & Napier Fund, Inc. Blended Asset Series. The Blended Asset Series are not currently available for direct investment.

Investment Objective

To provide capital growth and manage risk for investors planning to retire (or meet another investment goal) in or around the year indicated in the fund’s name.

Investment Strategy

Currently: The portfolio is currently invested in an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets, with only a minor portion of the portfolio invested in fixed income securities. Stock exposure can range from 70% - 95%.

Over Time: The portfolio’s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio’s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%.

May be Appropriate for Investors

  • Who plan to stop contributions and start periodic withdrawals around the year 2055.
  • Who generally have time to withstand market volatility and can accept very significant fluctuations in current account value
  • Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time

About Target Date Funds

A target date fund is a single investment portfolio designed to meet an investor’s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor’s changing time horizon.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 01/31/2019

YTD

7.64%

1 Year

-4.70%

3 Year

10.62%

5 Year

5.79%

10 Year

---

Inception
(06/25/2012)

9.91%

Market Cycle

---

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 3.15%
Net 1.01%*

*Includes acquired fund fees and expenses of the underlying Series, and a 12b-1 fee of 0.25%. Up to 0.25% of the 12b-1 fee 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 prior to the expiration date (02/29/2028) without the approval of the Fund's Board of Directors.

Top Ten Investments

As of 01/31/2019

TREASURY NOTES 7.00%
MONDELEZ INTERNATIONAL INC 2.07%
MASTERCARD INC-CLASS A 1.99%
JOHNSON & JOHNSON 1.99%
COCA COLA CO/THE 1.97%
BOOKING HOLDINGS INC 1.81%
TREASURY BONDS 1.75%
MEDTRONIC INC 1.72%
NOVARTIS AG- REG 1.66%
AMERICAN TOWER REIT INC 1.62%

Top Ten Investments list is unaudited and excludes cash.

Asset Allocation

As of 01/31/2019

Stocks
83.78%
Bonds
14.34%
Cash
1.88%

Detailed Asset Class Allocation

As of 01/31/2019

International Equities
25.26%
Small Capitalization
2.59%
Mid Capitalization
7.00%
Large Capitalization
48.93%
Long Term Fixed Income
2.61%
Intermediate Term Fixed Income
9.46%
Short Term Fixed Income
2.27%
Cash
1.88%

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

January Fund Holdings

As of 01/31/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAH9 ADT SEC CORP 4.12500 06/15/2023 US 2,155.74 $2,074.90
00101JAM8 ADT CORP 5.25000 03/15/2020 US 1,616.81 $1,641.06
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 11,856.59 $11,999.90
00289XAA7 ABENGOA YIELD PLC 7.00000 11/15/2019 GB 26,946.8 $27,014.17
004239109 ACADIA REALTY TRUST US AKR 23.17 $665.80
0045614 ANTOFAGASTA PLC GB ANTO LN 2,485.03 $28,408.68
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 11,856.59 $11,601.56
00790X101 ADVANCED DISPOSAL SERVICES US ADSW 3,787.1 $95,435.01
0081180 BARRATT DEVELOPMENTS PLC GB BDEV LN 283.48 $2,005.09
008492100 AGREE REALTY CORP US ADC 14.01 $925.23
00928QAK7 AIRCASTLE LTD 6.25000 12/01/2019 BM 2,155.74 $2,202.10
0136701 BRITISH LAND CO PLC GB BLND LN 132.58 $998.72
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 5.39 $709.83
01609W102 ALIBABA GROUP - ADR CN BABA 25.33 $4,267.85
01748XAA0 ALLEGIANT TRAVEL CO 5.50000 07/15/2019 US 1,940.17 $1,957.15
02079K107 ALPHABET INC-CL C US GOOG 84.61 $94,459.37
02079K305 ALPHABET INC-CL A US GOOGL 84.07 $94,658.10
02209S103 ALTRIA GROUP INC US MO 1,391.53 $68,672.15
023135106 AMAZON.COM INC US AMZN 72.76 $125,048.55
02319V103 AMBEV SA-ADR BR ABEV 21,323 $102,563.65
0237400 DIAGEO PLC GB DGE LN 2,157.9 $82,359.14
02376RAA0 AMERICAN AIRLINES GROUP 5.50000 10/01/2019 US 2,155.74 $2,171.05
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 21.56 $992.07
0263494 BAE SYSTEMS PLC GB BA/ LN 532.47 $3,582.11
02665T306 AMERICAN HOMES 4 RENT- A US AMH 124.49 $2,752.57
02666TAA5 AMERICAN HOMES 4 RENT 4.25000 02/15/2028 US 5,389.36 $5,191.15
02753GAA7 AMERICAN MIDSTREAM PTR/F 9.50000 12/15/2021 US 2,694.68 $2,506.05
03027X100 AMERICAN TOWER REIT INC US AMT 1,033.14 $178,567.99
03064D108 AMERICOLD REALTY TRUST US COLD 21.02 $616.26
03748R101 APARTMENT INVT & MGMT CO -A US AIV 39.88 $1,974.92
03784Y200 APPLE HOSPITALITY REIT INC US APLE 38.26 $627.92
0405207 HALMA PLC GB HLMA LN 111.56 $2,051.79
0490656 KERRY GROUP PLC-A IE KYGA LN 37.73 $3,879.77
053332102 AUTOZONE INC US AZO 200.48 $169,878.29
053484101 AVALONBAY COMMUNITIES INC US AVB 28.02 $5,406.52
058498106 BALL CORP US BLL 1,841.01 $96,247.77
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 17,245.95 $17,381.49
0682538 PERSIMMON PLC GB PSN LN 63.59 $1,983.86
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 806.25 $165,716.28
0870612 LLOYDS BANKING GROUP PLC GB LLOY LN 2,691.99 $2,052.27
0878230 TAYLOR WIMPEY PLC GB TW/ LN 917.27 $1,988.86
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 1,296.14 $127,242.18
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962178AN9 TRI POINTE GROUP / HOMES 5.87500 06/15/2024 US 2,694.68 $2,597.00
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 8,622.98 $8,389.37
98919V105 ZAYO GROUP HOLDINGS INC US ZAYO 1,823.76 $50,062.20
B00FM53 BANCO BRADESCO SA - PREF BR BBDC4 BZ 183.24 $2,273.90
B0190C7 TECHTRONIC INDUSTRIES CO LTD HK 669 HK 215.57 $1,258.43
B01FLR7 PING AN INSURANCE GROUP CO-H CN 2318 HK 323.36 $3,148.11
B01JCK9 LI NING CO LTD CN 2331 HK 2,560.49 $3,150.48
B02J639 ADMIRAL GROUP PLC GB ADM LN 52.28 $1,421.51
B02L3W3 BERKELEY GROUP HOLDINGS GB BKG LN 40.42 $1,990.15
B037HR3 ITAU UNIBANCO HOLDINGS S-PREF BR ITUB4 BZ 199.41 $2,120.25
B058TZ6 SAFRAN SA FR SAF FP 11.32 $1,487.02
B068DB9 SM INVESTMENTS CORP PH SM PM 75.45 $1,439.33
B07DRZ5 RECORDATI SPA IT REC IM 40.42 $1,464.68
B09DHL9 MTU AERO ENGINES HOLDING AG DE MTX GR 7.55 $1,627.04
B0C2CQ3 ENGIE FR ENGI FP 53.89 $863.98
B0CGYD6 LOJAS RENNER S.A. BR LREN3 BZ 125.03 $1,559.83
B0JDQD4 BANDAI NAMCO HOLDINGS INC JP 7832 JP 64.67 $2,857.01
B0SWJX3 LONDON STOCK EXCHANGE GROUP GB LSE LN 481.81 $28,976.37
B0YZ0Z5 DEUTSCHE WOHNEN SE DE DWNI GR 88.6 $4,426.26
B15C557 TOTAL SA FR FP FP 75.99 $4,165.85
B19NLV4 EXPERIAN PLC GB EXPN LN 56.05 $1,407.26
B1FW751 GALP ENERGIA SGPS SA PT GALP PL 250.07 $3,907.16
B1KFX13 GRUPO AEROPORTUARIO DEL CENT MX OMAB MM 237.13 $1,324.53
B1XFTL2 HEXAGON AB-B SHS SE HEXAB SS 62.52 $3,061.53
B1XH026 VINCI SA FR DG FP 1,202.37 $105,796.53
B1Y9TB3 DANONE FR BN FP 80.84 $5,882.89
B1YVKN8 ANTA SPORTS PRODUCTS LTD CN 2020 HK 754.51 $3,903.05
B1YXBJ7 AIR LIQUIDE FR AI FP 14.01 $1,701.09
B1Z9Q99 ABOITIZ POWER CORP PH AP PM 1,131.77 $835.85
B247XZ6 MANILA ELECTRIC COMPANY PH MER PM 180 $1,266.27
B249GC0 MATSUMOTOKIYOSHI HOLDINGS CO JP 3088 JP 64.67 $1,997.87
B283W97 CAIXABANK S.A ES CABK SM 19,323.55 $73,081.45
B2B0DG9 RELX PLC GB REL LN 65.21 $1,444.39
B3NB1P2 SUNCOR ENERGY INC CA SU CN 136.35 $4,397.84
B3ZCNF7 TELEFONICA BRASIL S.A. - PREF BR VIVT4 BZ 107.79 $1,438.96
B4975P9 MAGAZINE LUIZA SA BR MGLU3 BZ 10.78 $529.21
B4R2R50 JULIUS BAER CH BAER SW 1,928.85 $77,524.92
B4V5RY4 BANCO SANTANDER BRASIL - UNIT BR SANB11 BZ 86.23 $1,136.51
B5VJH76 BDO UNIBANK INC PH BDO PM 554.03 $1,439.43
B607XS1 VERMILION ENERGY INC CA VET CN 142.28 $3,486.73
B61JC67 TREASURY WINE ESTATES LTD AU TWE AU 364.86 $4,106.12
B63QM77 NEXON CO LTD JP 3659 JP 374.45 $5,696.73
B725S29 PUREGOLD PRICE CLUB INC PH PGOLD PM 700.62 $612.14
B7311V6 KALBE FARMA TBK PT ID KLBF IJ 12,535.65 $1,436.71
B7T7721 ROYAL BANK OF SCOTLAND GB RBS LN 640.8 $2,032.73
B800MQ5 ASTRA INTERNATIONAL TBK PT ID ASII IJ 2,381.56 $1,444.78
B8FMRX8 COLOPLAST-B DK COLOB DC 15.09 $1,378.48
B8K9X70 GRAND CITY PROPERTIES DE GYC GR 93.02 $2,314.39
B92RW83 LT GROUP INC PH LTG PM 2,155.74 $642.41
B9895B7 COCA-COLA HBC AG-DI CH CCH LN 61.44 $2,064.90
B9G6L89 LEG IMMOBILIEN AG DE LEG GR 28.56 $3,355.40
B9N3SQ0 BB SEGURIDADE PARTICIPACOES BR BBSE3 BZ 97.01 $826.14
BBD7Q84 SUNTORY BEVERAGE & FOOD LTD JP 2587 JP 21.56 $954.49
BBJPFY1 VONOVIA SE DE VNA GR 90.54 $4,550.47
BD0Q398 KONINKLIJKE AHOLD DELHAIZE N NL AD NA 74.91 $1,973.64
BD1WX84 ENGIE BRASIL ENERGIA SA BR EGIE3 BZ 158.99 $1,824.30
BD3JR69 CHINA MAPLE LEAF EDUCATIONAL CN 1317 HK 3,018.04 $1,303.18
BD4T6W7 TELEKOMUNIKASI INDONESIA PER ID TLKM IJ 5,152.23 $1,437.88
BD4TZK8 OCI NV NL OCI NA 57.13 $1,208.10
BD6K457 COMPASS GROUP PLC GB CPG LN 63.59 $1,360.83
BD9Y5C0 TECHNOGYM SPA IT TGYM IM 178.39 $2,068.41
BD9Y9B7 BASIC-FIT NV NL BFIT NA 66.83 $2,044.50
BDFLHY1 AIRPORTS OF THAILAND PCL-FOR TH AOT/F TB 657.5 $1,456.09
BDQZ7T7 WISDOM EDUCATION INTERNATION CN 6068 HK 3,664.77 $1,497.40
BDZV116 EPIROC AB-A SE EPIA SS 47.97 $460.58
BF7LBH4 ATACADAO DISTRIBUICAO COMERC BR CRFB3 BZ 129.34 $708.93
BFTCYP4 ROBINSONS RETAIL HOLDINGS IN PH RRHI PM 376.18 $635.26
BFYM460 UNIBAIL-RODAMCO-WESTFIELD FR URW NA 24.25 $4,361.78
BG36ZK1 B3 SA-BRASIL BOLSA BALCAO BR B3SA3 BZ 140.12 $1,209.06
BG7ZWY7 AMBEV SA BR ABEV3 BZ 485.04 $2,328.66
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 689.84 $1,037.52
BH4TZ73 FU SHOU YUAN INTERNATIONAL CN 1448 HK 3,988.13 $3,270.23
BHC8X90 NOVO NORDISK A/S-B DK NOVOB DC 29.1 $1,363.92
BJ2KSG2 AKZO NOBEL NL AKZA NA 1,094.16 $94,171.24
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 2,528.58 $112,558.78
BNGN9Z1 FINECOBANK SPA IT FBK IM 4,719.68 $51,321.51
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 2,800.31 $78,333.54
BSQXJ01 THULE GROUP AB/THE SE THULE SS 162.76 $3,323.00
BSS7GP5 AGL ENERGY LTD AU AGL AU 135.81 $2,122.02
BYMXPS7 UNICREDIT SPA IT UCG IM 127.94 $1,479.08
BYNXBZ5 ADO PROPERTIES SA DE ADJ GR 18.32 $1,099.97
BYW0PQ6 LAND SECURITIES GROUP PLC GB LAND LN 87.31 $992.89
BYWPGC4 CHINA YUHUA EDUCATION CORP L CN 6169 HK 4,958.21 $2,005.93
BYXS699 QIAGEN N.V. NL QIA GR 64.13 $2,368.68
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 1,470.76 $112,370.42
BYZFZ91 SOPHOS GROUP PLC GB SOPH LN 536.24 $2,374.39
BZ3C3Q4 BANKIA SA ES BKIA SM 1,041.76 $3,036.71
BZ4CMZ5 DAVIDE CAMPARI-MILANO SPA IT CPR IM 314.2 $2,822.94
G02602103 AMDOCS LTD GG DOX 1,643.75 $91,853.03
G0750C108 AXALTA COATING SYSTEMS LTD US AXTA 2,139.04 $54,802.13
G0772R208 BANK OF N.T. BUTTERFIELD&SON BM NTB 53.35 $1,870.08
G25839104 COCA-COLA EUROPEAN PARTNERS GB CCEP 41.5 $1,974.48
G27358103 DESPEGAR.COM CORP AR DESP 64.13 $963.28
G37585AC3 GASLOG LTD 8.87500 03/22/2022 BM 3,233.62 $3,282.12
G5960L103 MEDTRONIC INC IE MDT 2,140.12 $189,164.77
G84720104 STERIS PLC GB STE 18.86 $2,151.49
G97822103 PERRIGO CO PLC IE PRGO 791.7 $36,774.33
H8817H100 TRANSOCEAN LTD US RIG 4,970.07 $42,593.48
M22465104 CHECK POINT SOFTWARE TECH IL CHKP 12.93 $1,447.63
N22717107 CORE LABORATORIES N.V. NL CLB 32.34 $2,181.40
N47279109 INTERXION HOLDING NV NL INXN 921.58 $55,331.70
N59465109 MYLAN NV US MYL 1,168.95 $35,010.12
N72482123 QIAGEN N.V. ADR NL QGEN 1,978.97 $73,281.38
USD US DOLLAR US 210,601.99 $210,601.99

Based on the investments of the underlying fund(s): Manning & Napier Fund, Inc. Pro-Blend® Maximum Term Series through 10/15/2017, and Manning & Napier Fund, Inc. Blended Asset Maximum Series beginning 10/16/2017. Investments will change over time and as the target date fund gradually becomes more conservative. Fund holdings list does not include securities with positions less than 0.005 shares.

Distributions

  • Target 2055 Series Class K Distribution History
  • 2019 Distribution Calendar
  • Fourth Quarter 2018 Distributions
  • Third Quarter 2018 Distributions
  • Second Quarter 2018 Distributions
  • First Quarter 2018 Distributions
  • Tax Letter

A Word About Risk

Each Manning & Napier Fund, Inc. Target Series is invested in one or two of four proprietary risk-based funds based on the Target Series 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).


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