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 15% - 45%.

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.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Daily Price

$10.57

Daily $ Change

$0.01

Daily % Change

0.09%

as of 11/13/2019

Ticker

MTDIX

CUSIP

56382P203

Inception Date

03/28/2008

Investment Minimum

$1,000,000.00

Investment minimum may be waived for certain qualified retirement plans.

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 10/31/2019

YTD

11.45%

1 Year

10.47%

3 Year

5.52%

5 Year

3.68%

10 Year

5.35%

Inception
(03/28/2008)

4.99%

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 0.81%
Net 0.65%*

*Includes acquired fund fees and expenses of the underlying Series. 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 10/31/2019

GOVERNMENT AGENCY 14.18%
TREASURY NOTES 10.91%
TREASURY BONDS 7.13%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 3.97%
TREASURY BILLS 2.01%
TSY INFL IX N/B 0.50000 04/15/2024 1.95%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 1.27%
VERIZON COMMUNICATIONS 5.25000 03/16/2037 1.15%
BOOKING HOLDINGS INC 3.60000 06/01/2026 1.08%
BANK OF AMERICA CORP 4.00000 01/22/2025 1.05%

Top Ten Investments list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2019

Bonds 72.41%
Stocks 26.64%
Cash 0.95%

Detailed Asset Class Allocation

As of 10/31/2019

International Equities 6.87%
Small Capitalization 0.53%
Mid Capitalization 1.17%
Large Capitalization 18.07%
Long Term Fixed Income 16.67%
Intermediate Term Fixed Income 42.74%
Short Term Fixed Income 13.00%
Cash 0.95%

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

October Fund Holdings

As of 10/31/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 4,939.09 $5,266.30
00206R102 AT&T INC US T 1,239.71 $47,716.47
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 513,665.04 $564,161.12
00287Y109 ABBVIE INC US ABBV 870.27 $69,229.75
004239109 ACADIA REALTY TRUST US AKR 291.41 $8,153.54
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 14,817.26 $13,557.79
00507V109 ACTIVISION INC US ATVI 4,474.81 $250,723.76
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 523,543.21 $568,085.28
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 9,878.17 $9,779.39
008492100 AGREE REALTY CORP US ADC 172.87 $13,616.82
00912XAV6 AIR LEASE CORP 3.62500 04/01/2027 US 563,055.91 $587,361.87
015271109 ALEXANDRIA REAL EST EQUITIES US ARE 69.15 $10,977.12
01609WAT9 ALIBABA GROUP HOLDING 3.40000 12/06/2027 KY 434,639.65 $451,443.49
020002101 ALLSTATE CORPORATION US ALL 276.59 $29,434.59
02079K107 ALPHABET INC-CL C US GOOG 177.81 $224,056.54
02079K305 ALPHABET INC-CL A US GOOGL 172.87 $217,606.29
023135106 AMAZON.COM INC US AMZN 158.05 $280,802.50
02319V103 AMBEV SA-ADR BR ABEV 15,172.88 $65,395.09
0237400 DIAGEO PLC GB DGE LN 3,946.33 $161,527.61
02406PAR1 AMERICAN AXLE & MFG INC 6.25000 04/01/2025 US 4,939.09 $4,760.05
024835100 AMERICAN CAMPUS COMMUNITIES US ACC 484.03 $24,191.85
02665T306 AMERICAN HOMES 4 RENT- A US AMH 1,654.59 $43,797.11
026874784 AMERICAN INTL GROUP INC US AIG 513.67 $27,203.70
03019LAA4 AMERICAN TANKER INC 9.25000 02/22/2022 US 19,756.35 $19,867.12
03027X100 AMERICAN TOWER REIT INC US AMT 642.08 $140,025.09
03027XAW0 AMERICAN TOWER CORP 3.80000 08/15/2029 US 543,299.56 $580,805.11
03064D108 AMERICOLD REALTY TRUST US COLD 903.85 $36,235.46
031162100 AMGEN INC US AMGN 380.31 $81,101.04
03690AAD8 ANTERO MIDSTREAM PART / FI 5.75000 03/01/2027 US 9,878.17 $7,346.89
03690AAF3 ANTERO MIDSTREAM PART/FI 5.75000 01/15/2028 US 9,878.17 $7,458.02
03748R754 APARTMENT INVT & MGMT CO -A US AIV 789.27 $43,314.92
03968AAA9 ARD SECURITIES FINANCE 8.75000 01/31/2023 LU 5,154.43 $5,360.61
03990B101 ARES MANAGEMENT CORP - A US ARES 1,180.44 $34,905.66
045086AF2 ASHTON WOODS USA/FINANCE 6.75000 08/01/2025 US 9,878.17 $9,927.56
04621X108 ASSURANT INC US AIZ 177.81 $22,416.14
053484101 AVALONBAY COMMUNITIES INC US AVB 390.19 $84,928.29
055622104 BP PLC-SPONS ADR GB BP 958.18 $36,324.71
060505104 BANK OF AMERICA CORP US BAC 7,084.63 $221,536.26
06051GFM6 BANK OF AMERICA CORP 4.00000 01/22/2025 US 770,497.56 $821,827.38
084670702 BERKSHIRE HATHAWAY INC-CL B US BRK/B 1,743.5 $370,632.74
08576PAA9 BERRY GLOBAL INC 4.50000 02/15/2026 US 4,939.09 $4,969.96
088606108 BHP GROUP LTD AU BHP 1,166.61 $57,059.01
09061G101 BIOMARIN PHARMACEUTICAL INC US BMRN 2,420.15 $177,179.37
09247X101 BLACKROCK INC US BLK 242.02 $111,738.45
0925288 GLAXOSMITHKLINE PLC GB GSK LN 928.55 $21,268.40
09260D107 BLACKSTONE GROUP LP US BX 824.83 $43,847.83
097023105 BOEING CO US BA 275.6 $93,679.55
09857L108 BOOKING HOLDINGS INC US BKNG 74.09 $151,785.80
101121101 BOSTON PROPERTIES INC US BXP 247.94 $34,017.66
105368203 BRANDYWINE REALTY TRUST US BDN 2,207.77 $33,734.75
110122108 BRISTOL MYERS SQUIBB CO US BMY 1,545.93 $88,690.25
11135F101 BROADCOM INC US AVGO 220.28 $64,509.96
11680JAA0 BRUIN E&P PARTNERS LLC 8.87500 08/01/2023 US 9,878.17 $6,519.59
12429TAE4 BWAY HOLDING CO 7.25000 04/15/2025 US 9,878.17 $9,446.00
124847AC8 ENTERCOM MEDIA CORP 7.25000 11/01/2024 US 4,939.09 $5,149.00
12503M108 CBOE GLOBAL MARKETS INC US CBOE 1,294.04 $149,008.80
12527GAB9 CF INDUSTRIES INC 7.12500 05/01/2020 US 4,939.09 $5,057.78
12555DAA3 CIM 2019-INV1 A1 4.00000 02/25/2049 US 95,439.15 $97,522.03
12572Q105 CME GROUP INC US CME 711.23 $146,335.27
125896100 CMS ENERGY CORP US CMS 879.16 $56,195.75
12646XAH5 CSMC 2013-IVR3 A1 2.50000 05/25/2043 US 130,314.03 $128,943.03
126650100 CVS HEALTH CORP US CVS 807.05 $53,579.84
12686CBA6 CABLEVISION SYSTEMS CORP 8.00000 04/15/2020 US 4,939.09 $5,062.56
12770QAA3 CZR 2017-VICI A 3.53100 10/15/2034 US 256,832.52 $267,090.23
131477AT8 CALUMET SPECIALTY PROD 11.00000 04/15/2025 US 9,878.17 $9,902.87
133131102 CAMDEN PROPERTY TRUST US CPT 286.47 $32,763.24
149123101 CATERPILLAR INC US CAT 354.63 $48,867.52
14980AAA0 CAZENOVIA CREEK FUNDING LLC 3.56070 07/15/2030 US 194,432.96 $195,844.85
156700AW6 CENTURYLINK INC 5.62500 04/01/2020 US 4,939.09 $5,000.83
166764100 CHEVRON CORP US CVX 1,318.74 $153,158.02
16941R108 CHINA PETROLEUM & CHEM-ADR CN SNP 888.05 $50,165.82
17275R102 CISCO SYSTEMS INC US CSCO 1,837.34 $87,292.04
172967424 CITIGROUP INC US C 2,220.61 $159,573.28
172967EW7 CITIGROUP INC 8.12500 07/15/2039 US 266,710.69 $438,757.29
191216100 COCA COLA CO/THE US KO 5,274.94 $287,115.25
192422103 COGNEX CORP US CGNX 1,491.6 $76,802.70
194162103 COLGATE-PALMOLIVE CO US CL 1,230.82 $84,434.28
20030NCY5 COMCAST CORP 3.25000 11/01/2039 US 444,517.82 $450,659.32
20369C106 COMMUNITY HEALTHCARE TRUST I US CHCT 1,145.87 $55,482.94
20825C104 CONOCOPHILLIPS US COP 345.74 $19,084.63
2099084 BORALEX INC -A CA BLX CN 1,170.56 $19,374.60
222795502 COUSINS PROPERTIES INC US CUZ 1,532.1 $61,483.36
22282E102 COVANTA HOLDING CORP US CVA 2,494.24 $36,016.81
22546QAD9 CREDIT SUISSE AG 5.40000 01/14/2020 CH 543,299.56 $546,820.14
22822V101 CROWN CASTLE INTL CORP US CCI 459.34 $63,751.12
22822VAN1 CROWN CASTLE INTL CORP 3.10000 11/15/2029 US 572,934.08 $582,185.20
22944PAA5 CSMC 2013-TH1 A1 2.13000 02/25/2043 US 85,813.22 $83,921.53
229663109 CUBESMART US CUBE 256.83 $8,141.59
247361702 DELTA AIR LINES INC. US DAL 330.92 $18,227.01
25277LAC0 DIAMOND SPORTS GR/DIAMON 6.62500 08/15/2027 US 9,878.17 $10,174.52
253868103 DIGITAL REALTY TRUST INC US DLR 237.08 $30,118.16
254687106 WALT DISNEY CO/THE US DIS 316.1 $41,067.92
25470DAT6 DISCOVERY COMMUNICATIONS 5.20000 09/20/2047 US 543,299.56 $594,128.47
256677105 DOLLAR GENERAL CORP US DG 377.35 $60,503.70
25787GAC4 DONNELLEY FINANCIAL SOL 8.25000 10/15/2024 US 14,817.26 $15,409.95
25960P109 DOUGLAS EMMETT INC US DEI 642.08 $27,814.96
260557103 DOW INC US DOW 765.56 $38,653.05
2715777 QUEBECOR INC -CL B CA QBR/B CN 3,101.75 $72,109.54
2801836 SHAW COMMUNICATIONS INC-B CA SJR/B CN 3,783.34 $77,212.20
285512109 ELECTRONIC ARTS US EA 2,281.86 $219,971.13
291011104 EMERSON ELEC CO US EMR 541.32 $37,973.87
29273RAR0 ENERGY TRANSFER OPERATNG 6.50000 02/01/2042 US 385,248.78 $461,413.54
29444U700 EQUINIX INC US EQIX 607.51 $344,323.21
29446M102 EQUINOR ASA-SPON ADR NO EQNR 1,707.94 $31,613.90
29472R108 EQUITY LIFESTYLE PROPERTIES US ELS 355.61 $24,871.66
29476L107 EQUITY RESIDENTIAL US EQR 488.97 $43,352.05
29670E107 ESSENTIAL PROPERTIES REALTY US EPRT 1,080.67 $27,730.05
297178105 ESSEX PROPERTY TRUST INC US ESS 107.67 $35,222.77
30161N101 EXELON CORP US EXC 617.39 $28,084.88
302154BV0 EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 KR 987,817.38 $993,492.44
30225T102 EXTRA SPACE STORAGE INC US EXR 93.84 $10,535.71
30231G102 EXXON MOBIL CORP US XOM 1,615.08 $109,131.05
302491303 FMC CORP US FMC 444.52 $40,673.38
30262DAL5 FREMF 2011-K13 B 4.61202 01/25/2048 US 317,587.24 $325,773.09
30287EAE0 FREMF 2014-K41 B FLT 3.83237 11/25/2047 US 269,674.15 $283,074.50
30291YAJ9 FREMF 2014-K716 B FLT 3.94755 08/25/2047 US 445,505.64 $457,419.67
30303M102 FACEBOOK INC -A US FB 1,560.75 $299,118.02
3128M5VT4 FHLM POOL G03926 6.00000 02/01/2038 US 33,879.65 $38,971.58
3128M7C95 FHLM POOL G05196 5.50000 10/01/2038 US 32,689.78 $36,712.10
3128M7KW5 FHLM POOL G05409 5.50000 03/01/2039 US 29,372.29 $33,002.04
3128P75X7 FHLM POOL C91762 4.50000 05/01/2034 US 105,120.68 $113,041.07
312941F69 FHLM POOL A92889 4.50000 07/01/2040 US 122,119.63 $131,263.49
312941ZQ3 FHLM POOL Q93451 4.50000 08/01/2040 US 138,680.12 $150,410.93
3131XVYW9 FEDERAL NATL MTG ASSN FR ZM2525 3.00000 12/01/2046 US 292,708.18 $299,967.73
3131YBKP2 FEDERAL NATL MTG ASSN FN ZN4802 4.00000 04/01/2049 US 351,331.52 $365,324.51
3132M45M3 FHLM POOL Q24752 3.50000 02/01/2044 US 160,581.04 $168,609.27
3132QUNJ8 FHLM POOL Q37592 4.00000 12/01/2045 US 202,641.18 $214,896.19
3132WKQ84 FHLM POOL Q45878 3.00000 12/01/2046 US 287,386.21 $294,688.22
3132Y33P7 FHLM POOL FG Q59805 4.50000 11/01/2048 US 178,304.58 $187,790.88
31335AFY9 FHLM POOL G60183 4.00000 12/01/2044 US 94,137.98 $98,830.73
31335ALP1 FHLM POOL G60334 4.50000 10/01/2041 US 110,948.99 $120,314.68
31335CCY8 FHLM POOL FG G61887 MTGE 5.00000 02/01/2049 US 241,658.78 $258,556.74
3133G6L60 FEDERAL NATL MTG ASSN FR QN0349 3.00000 08/01/2034 US 313,199.14 $320,890.48
3136AY6W8 FNA 2017-M15 A1 2.95932 09/25/2027 US 267,096.37 $279,873.70
3136B1YD0 FNR 2018-31 KP 3.50000 07/25/2047 US 302,345.8 $315,632.84
313747206 FEDERAL RLTY INVT TR SH BEN INT US FRT 64.21 $8,732.95
3137F4YU0 FHR 4791 BA MTGE 4.00000 03/15/2044 US 307,686.2 $311,843.74
3137FG2L8 FHR 4801 BA MTGE 4.50000 05/15/2044 US 278,665.61 $284,485.11
3138EGE26 FEDERAL NATL MTG ASSN AL0152 6.00000 06/01/2040 US 74,165.53 $85,252.26
3138EQST0 FEDERAL NATL MTG ASSN AL7729 4.00000 06/01/2043 US 67,523.38 $72,240.94
3138ERN30 FEDERAL NATL MTG ASSN FN AL9409 3.50000 11/01/2031 US 248,455.16 $258,211.10
3138ETT89 FEDERAL NATL MTG ASSN AL8674 FLT 5.64500 01/01/2049 US 133,985.3 $150,826.31
3138WDAY7 FEDERAL NATL MTG ASSN FN AS3622 3.50000 10/01/2044 US 609,814.45 $642,177.97
3138YTGK4 FEDERAL NATL MTG ASSN AZ2001 3.50000 05/01/2045 US 294,134.16 $307,327.16
3140E2GZ8 FEDERAL NATL MTG ASSN AZ9215 4.00000 10/01/2045 US 89,379.52 $94,123.57
3140FEX33 FEDERAL NATL MTG ASSN BD6997 4.00000 10/01/2046 US 94,368.69 $99,178.27
3140FTWF4 FEDERAL NATL MTG ASSN BE7845 4.50000 02/01/2047 US 89,926.39 $94,953.22
3140HPMQ7 FEDERAL NATIONAL MTGE FN BK9366 4.50000 08/01/2048 US 109,137.16 $114,875.05
3140JGVQ5 FEDERAL NATL MTG ASSN FN BN0622 4.50000 01/01/2049 US 256,646.45 $270,085.98
3140Q84E2 FEDERAL NATL MTG ASSN FN CA1720 5.00000 05/01/2048 US 541,932.21 $598,500.63
3140Q9JA2 FEDERAL NATL MTGE ASSN FN CA2056 4.50000 07/01/2048 US 575,593.88 $607,535.64
3140Q9PD9 FEDERAL NATL MTG ASSN FN CA2219 5.00000 08/01/2048 US 509,808.51 $546,536.36
3140X4JC1 FEDERAL NATL MTG ASSN FM1158 3.50000 06/01/2034 US 299,628.57 $310,420.97
31410GCD3 FEDERAL NATL MTG ASSN 888468 5.50000 09/01/2021 US 7,454.57 $7,562.32
31410GN33 FEDERAL NATL MTG ASSN 888810 5.50000 11/01/2022 US 8,982.08 $9,100.83
31410LC75 FEDERAL NATL MTG ASSN 890294 5.50000 01/01/2039 US 72,188.24 $81,091.15
31410LD74 FHLM POOL 890326 5.50000 01/01/2040 US 77,034.68 $86,553.98
31417YJC2 FEDERAL NATL MTG ASSN MA0258 4.50000 12/01/2039 US 95,717.71 $103,691.96
31418BBC9 FEDERAL NATL MTG ASSN MA1834 4.50000 02/01/2034 US 70,015.68 $75,250.06
31418BDH6 FEDERAL NATL MTG ASSN MA1903 4.50000 05/01/2034 US 81,333.5 $87,414.58
31418C4F8 FEDERAL NATL MTG ASSN FN MA3521 4.00000 11/01/2048 US 827,715.82 $859,281.94
31418C4M3 FEDERAL NATL MTG ASSN FN MA3527 5.00000 11/01/2048 US 447,536.34 $478,011.74
31418CAF1 FEDERAL NATL MTG ASSN FN MA2705 3.00000 08/01/2046 US 286,472.84 $294,025.83
31418CYJ7 FEDERAL NATL MTG ASSN FN MA3412 3.50000 07/01/2038 US 413,957.17 $428,988.26
31418CZ56 FEDERAL NATL MTG ASSN FN MA3463 4.00000 09/01/2033 US 272,901.02 $284,945.22
31418CZH0 FEDERAL NATL MTG ASSN FN MA3443 4.00000 08/01/2048 US 251,024.04 $260,368.92
31418DC67 FEDERAL NATL MTG ASSN FN MA3692 3.50000 07/01/2049 US 579,374.21 $594,381.80
31418MKV3 FEDERAL NATL MTG ASSN AD0307 5.50000 01/01/2039 US 37,896.05 $42,562.74
31419AU62 FEDERAL NATL MTG ASSN AE0604 6.00000 07/01/2039 US 43,854.51 $50,463.46
315786AC7 FIDELITY & GUARA NTY LIFE 5.50000 05/01/2025 US 4,939.09 $5,272.48
31620R303 FNF GROUP US FNF 459.34 $21,055.92
32054K103 FIRST INDUSTRIAL REALTY TR US FR 424.76 $17,886.71
33834YAA6 FIVE POINT OP CO LP/FIVE 7.87500 11/15/2025 US 9,878.17 $9,336.55
346232AD3 FORESTAR GROUP INC 8.00000 04/15/2024 US 4,939.09 $5,309.52
34960PAB7 FORTRESS TRANS & INFRAST 6.50000 10/01/2025 US 9,878.17 $9,976.96
35166FAA0 FOXTROT ESCROW ISSUER 12.25000 11/15/2026 US 9,878.17 $9,928.55
36166LAA5 GEMS MENASA KY LTD/GEMS 7.12500 07/31/2026 AE 29,634.52 $30,708.77
36246MAT6 GTP AQUISITION PARTNERS 2.35000 06/15/2020 US 93,842.65 $93,875.45
363576109 ARTHUR J GALLAGHER & CO US AJG 464.27 $42,351.09
369604BQ5 GENERAL ELECTRIC CO 5.00000 01/21/2021 US 493,908.69 $476,004.50
37045XAR7 GENERAL MOTORS FINL CO 3.15000 01/15/2020 US 553,177.74 $553,925.61
372460105 GENUINE PARTS CO US GPC 538.36 $55,225.02
374297109 GETTY REALTY CORP US GTY 498.85 $16,731.35
375558103 GILEAD SCIENCES INC US GILD 851.5 $54,248.97
37960JAA6 GLOBAL AIR LEASE CO LTD 6.50000 09/15/2024 KY 9,878.17 $10,109.82
38141G104 GOLDMAN SACHS US GS 88.9 $18,970.24
38141GVR2 GOLDMAN SACHS GROUP INC 4.25000 10/21/2025 US 256,832.52 $276,647.38
38378HVC7 GNR 2012-113 PY 2.50000 09/20/2042 US 246,954.35 $246,681.91
38379RRX3 GNR 2017-54 AH MTGE 2.60000 12/16/2056 US 314,137.15 $316,767.55
388689101 GRAPHIC PACKAGING HOLDING CO US GPK 3,704.32 $58,009.58
404119BX6 HCA INC 4.12500 06/15/2029 US 434,639.65 $460,459.42
404139AD9 HC2 HOLDINGS INC 11.50000 12/01/2021 US 4,939.09 $4,500.74
40414L109 HCP INC US HCP 1,160.69 $43,664.99
406216101 HALLIBURTON CO US HAL 9,226.21 $177,604.63
421946104 HEALTHCARE REALTY TRUST INC US HR 1,378.01 $47,913.24
42225P501 HEALTHCARE TRUST OF AMERICA US HTA 1,017.45 $31,541.01
43300A203 HILTON WORLDWIDE HOLDINGS INC US HLT 128.42 $12,451.24
437076102 HOME DEPOT INC US HD 498.85 $117,019.71
438128308 HONDA MOTOR CO LTD -SPONS ADR JP HMC 1,433.32 $38,656.72
438516106 HONEYWELL INTERNATIONAL INC US HON 393.15 $67,909.03
44107P104 HOST MARRIOTT CORP US HST 943.37 $15,461.76
444454AD4 HUGHES SATELLITE SYSTEMS 5.25000 08/01/2026 US 14,817.26 $15,872.99
452308109 ILLINOIS TOOL WKS INC US ITW 221.27 $37,301.88
45337C102 INCYTE CORP US INCY 1,205.14 $101,135.11
45378A106 INDEPENDENCE REALTY TRUST IN US IRT 3,289.43 $50,657.25
45682RAA8 INFRABUILD AUSTRALIA PTY 12.00000 10/01/2024 AU 9,878.17 $10,067.04
458140100 INTEL CORP US INTC 3,959.17 $223,812.00
45866F104 INTERCONTINENTALEXCHANGE INC US ICE 1,639.78 $154,663.75
459200101 INTERNATIONAL BUSINESS MACH CORP US IBM 519.59 $69,485.03
46187BAA1 IHSFR 2017-SFR2 A 2.73913 12/17/2036 US 74,199.13 $74,094.83
46187BAB9 IHSFR 2017-SFR2 B 3.03913 12/17/2036 US 59,269.04 $59,324.65
46187W107 INVITATION HOMES INC US INVH 1,834.38 $56,480.46
464287598 ISHARES RUSSELL 1000 VALUE US 1,343.43 $174,740.15
466032109 J&J SNACK FOODS CORP US JJSF 251.89 $48,051.19
46625H100 JP MORGAN CHASE & CO US JPM 2,225.55 $278,016.03
46640BAC8 JPMMT 2013-2 A2 3.50000 05/25/2043 US 73,806.73 $75,247.44
46641YAA1 JPMMT 2014-2 1A1 3.00000 06/25/2029 US 92,975.56 $94,433.86
46647PAY2 JPMORGAN CHASE & CO 4.02300 12/05/2024 US 375,370.61 $400,819.90
46647SAE0 JPMMT 2017-3 1A3 3.50000 08/25/2047 US 268,685.28 $273,258.30
46648HAE3 JPMMT 2017-2 A5 3.50000 05/25/2047 US 269,959.69 $273,517.22
46648HAF0 JPMMT 2017-2 A6 3.00000 05/25/2047 US 289,956.71 $291,515.82
4741844 MERCK KGAA DE MRK GR 2,528.81 $301,602.72
476405105 JERNIGAN CAPITAL INC US JCAP 1,783.01 $33,859.37
478160104 JOHNSON & JOHNSON US JNJ 5,018.11 $662,591.55
47987LAA9 JONAH NRG LLC/FINANCE 7.25000 10/15/2025 US 14,817.26 $4,148.83
485170302 KANSAS CITY SOUTHERN US KSU 414.88 $58,407.27
487526AB1 KEHE DISTRIBUTORS LLC/FI 8.62500 10/15/2026 US 9,878.17 $10,131.30
493267108 KEYCORP US KEY 1,121.17 $20,147.47
49427F108 KILROY REALTY CORP US KRC 113.6 $9,534.36
494368103 KIMBERLY CLARK CORP US KMB 252.88 $33,602.86
494550AW6 KINDER MORGAN ENER PART 6.95000 01/15/2038 US 454,396 $587,407.93
49456BAE1 KINDER MORGAN INC/ DELAWA 3.05000 12/01/2019 US 553,177.74 $553,555.20
50187TAE6 LGI HOMES INC 6.87500 07/15/2026 US 14,817.26 $15,335.86
529043101 LEXINGTON REALTY TRUST US LXP 1,101.42 $11,983.41
531172104 LIBERTY PROPERTY TRUST US LPT 449.46 $26,549.42
53223X107 LIFE STORAGE INC US LSI 123.48 $13,449.13
534187109 LINCOLN NATL CORP IND US LNC 296.35 $16,737.58
539830109 LOCKHEED MARTIN CORP US LMT 157.06 $59,162.48
54238XAC2 LONESTAR RESOURCES AMERICA 11.25000 01/01/2023 US 9,878.17 $6,914.72
550021109 LULULEMON - ADR CA LULU 1,501.48 $306,707.81
56585A102 MARATHON PETROLEUM CORP US MPC 656.9 $42,008.66
5671735 SANOFI-AVENTIS FR SAN FP 360.55 $33,238.38
57636Q104 MASTERCARD INC-CLASS A US MA 1,733.62 $479,883.22
580135101 MCDONALDS CORP US MCD 93.84 $18,458.85
58933Y105 MERCK & CO INC US MRK 2,351.99 $203,823.73
594918104 MICROSOFT CORP US MSFT 3,571.95 $512,110.14
595112103 MICRON TECHNOLOGY INC US MU 9,443.53 $449,040.05
59522J103 MID-AMERICA APARTMENT COMM US MAA 138.29 $19,221.54
609207105 MONDELEZ INTERNATIONAL INC US MDLZ 7,420.48 $389,204.40
615369105 MOODY'S CORPORATION US MCO 671.72 $148,240.96
617446448 MORGAN STANLEY US MS 222.26 $10,235.02
61965RAB1 MOSS CREEK RESOURCES HLD 10.50000 05/15/2027 US 4,939.09 $3,815.44
62426EAA3 MOUNTAIN PROVINCE DIAMON 8.00000 12/15/2022 CA 14,817.26 $14,372.74
62957HAC9 NABORS INDUSTRIES INC 5.50000 01/15/2023 US 9,878.17 $8,347.06
637417106 NATIONAL RETAIL PROPERTIES US NNN 484.03 $28,514.24
637870106 NATIONAL STORAGE AFFILIATES US NSA 469.21 $16,033.02
63938CAA6 NAVIENT CORP 5.00000 10/26/2020 US 9,878.17 $10,060.43
63940YAA4 NAVSL 2019-CA A1 2.82000 02/15/2068 US 226,589.34 $228,809.52
63941RAB6 NAVSL 2019-2A A2 2.82275 02/27/2068 US 543,299.56 $548,019.20
64829DAG1 NRZT 2014-3A AFX3 3.75000 11/25/2054 US 78,319.96 $81,471.02
64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 88,724.52 $92,499.68
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 118,618.06 $123,720.35
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 14,817.26 $7,408.63
66987V109 NOVARTIS AG- REG CH NVS 5,166.28 $451,739.95
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 9,878.17 $10,235.57
67066G104 NVIDIA CORP US NVDA 829.77 $166,799.68
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 75.07 $32,695.53
674599105 OCCIDENTAL PETROLEUM CORP US OXY 997.7 $40,406.67
680665AL0 OLIN CORP 5.62500 08/01/2029 US 9,878.17 $10,256.21
681936100 OMEGA HEALTHCARE INVS INC US OHI 444.52 $19,576.56
693475105 PNC FINANCIAL SERVICES GROUP US PNC 172.87 $25,359.74
70338P100 PATTERN ENERGY GROUP INC -A US PEGI 779.39 $21,846.24
7123870 NESTLE SA-REGISTERED CH NESN SW 2,736.25 $292,728.14
713448108 PEPSICO INC US PEP 2,533.75 $347,554.71
71654V101 PETROLEO BRASIL-SP PREF ADR BR PBR/A 3,023.71 $45,627.77
717081103 PFIZER INC US PFE 3,681.6 $141,262.82
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 9,878.17 $8,694.08
71943U104 PHYSICIANS REALTY TRUST US DOC 2,731.32 $50,993.65
729640102 PLYMOUTH INDUSTRIAL REIT INC US 1,432.34 $27,013.84
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 780,375.73 $844,879.61
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 4,939.09 $5,061.08
74251V102 PRINCIPAL FINANCIAL GROUP US PFG 330.92 $17,664.45
742718109 PROCTER & GAMBLE CO US PG 469.21 $58,421.74
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 148,172.61 $148,910.56
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 276,588.87 $281,389.34
74340W103 PROLOGIS US PLD 1,042.15 $91,458.85
74460D109 PUBLIC STORAGE INC US PSA 172.87 $38,525.37
749685103 RPM INTERNATIONAL INC US RPM 726.05 $52,587.50
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 14,817.26 $15,372.91
756109104 REALTY INCOME CORP US O 138.29 $11,311.10
7591EP100 REGIONS FINANCIAL CORP. US RF 1,145.87 $18,448.48
760759100 REPUBLIC SERVICES INC US RSG 518.6 $45,383.05
767204100 RIO TINTO PLC - SPON ADR GB RIO 891.01 $46,341.50
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 9,878.17 $10,044.10
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 207.44 $12,091.77
78409V104 S&P GLOBAL INC US SPGI 592.69 $152,908.20
78410G104 SBA COMMUNICATIONS CORP US SBAC 582.81 $140,253.77
78442PGC4 SLM CORP 5.12500 04/05/2022 US 14,817.26 $15,298.82
78470NAB2 SOFI 2015-D A2 2.72000 10/27/2036 US 70,790.55 $71,435.78
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 205,820.19 $206,619.45
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 642,081.3 $737,270.89
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 513,665.04 $553,524.70
806857108 SCHLUMBERGER LTD NL SLB 3,358.58 $109,791.95
808524797 SCHWAB US DVD EQUITY ETF US 2,268.03 $125,920.95
81141R100 SEA LTD - ADR SG SE 8,732.31 $259,873.42
81211K100 SEALED AIR CORP US SEE 1,037.21 $43,324.19
812578102 SEATTLE GENETICS INC US SGEN 1,205.14 $129,431.74
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 107,199.53 $108,409.71
81762P102 SERVICENOW INC US NOW 1,244.65 $307,752.14
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 9,878.17 $8,297.67
828806109 SIMON PROPERTY GROUP INC US SPG 419.82 $63,258.84
831641FC4 SBIC 2015-10A 1 2.51700 03/10/2025 US 77,601.31 $78,907.69
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 24,376.98 $24,375.19
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 74,086.3 $75,186.44
83402JAC2 SOFI 2016-B A2B 2.74000 10/25/2032 US 56,260.59 $56,630.98
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 78,171.74 $78,572.61
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 222,339.92 $223,922.09
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 177,846.8 $179,239.18
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 63,564.73 $63,687.27
835699307 SONY CORP SPONSORED ADR JP SNE 4,840.31 $294,435.76
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 572,934.08 $580,002.17
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 9,878.17 $8,692.79
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 14,817.26 $15,264.30
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 4,939.09 $5,270.30
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 4,939.09 $5,358.91
85254J102 STAG INDUSTRIAL INC US STAG 1,333.55 $41,393.50
855030AN2 STAPLES INC 7.50000 04/15/2026 US 9,878.17 $10,275.28
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.13350 11/15/2027 US 249,529.94 $249,081.01
858912AF5 STERICYCLE INC 5.37500 07/15/2024 US 14,817.26 $15,409.95
862121100 STORE CAPITAL CORP US STOR 405.01 $16,402.71
866674104 SUN COMMUNITIES US SUI 251.89 $40,970.47
86723CAF5 SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 US 4,939.09 $4,198.22
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 785.31 $10,609.60
86935CAA0 SCML 2019-SBC8 2.86000 12/25/2035 US 254,886.07 $256,338.79
87612E106 TARGET CORP US TGT 360.55 $38,546.76
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 9,878.17 $8,347.06
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 405,005.13 $435,874.45
882508104 TEXAS INSTRUMENTS INC US TXN 554.17 $65,385.99
88579Y101 3M CO US MMM 393.15 $64,866.04
89151E109 TOTAL S A SPONSORED ADR FR TOT 1,003.62 $52,820.65
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 178,937.96 $179,622.24
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 166,061.48 $168,026.35
89177EAA7 TPMT 2019-HY1 A1 2.82275 10/25/2048 US 157,173.13 $158,012.76
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 4,939.09 $4,889.70
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 212,444.86 $212,399.90
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 197,004.59 $199,958.74
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 14,817.26 $14,778.00
902653104 UDR INC US UDR 672.7 $33,803.36
902973304 U.S. BANCORP US USB 992.76 $56,606.97
903002103 UMH PROPERTIES INC US UMH 607.51 $9,070.09
904767704 UNILEVER PLC - ADR GB UL 5,514 $331,446.34
907818108 UNION PAC CORP US UNP 405.01 $67,012.15
911312106 UNITED PARCEL SERVICE US UPS 1,024.37 $117,976.30
912796SR1 TREASURY BILL 0.00000 05/21/2020 US 1,580,507.82 $1,566,894.80
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 372,812.44 $391,746.54
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 647,020.39 $757,620.43
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 1,516,299.69 $1,539,991.87
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 1,507,285.85 $1,527,101.49
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 3,116,016.51 $3,099,340.96
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 2,331,249.03 $2,334,982.66
912828VS6 US TREASURY N/B 2.50000 08/15/2023 US 4,647,680.79 $4,813,254.43
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 2,237,406.38 $2,331,796.96
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 2,252,223.64 $2,318,118.77
913017109 UNITED TECHNOLOGIES CORP US UTX 537.37 $77,155.97
91704F104 URBAN EDGE PROPERTIES US UE 1,101.42 $23,250.90
918204108 VF CORP US VFC 353.64 $29,100.92
91913Y100 VALERO ENERGY US VLO 374.38 $36,307.64
92276F100 VENTAS INC US VTR 493.91 $32,153.46
92339V100 VEREIT INC US VER 2,988.15 $29,403.37
92343V104 VERIZON COMMUNICATIONS US VZ 1,190.32 $71,978.65
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 711,228.52 $895,847.92
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 513.67 $100,411.24
92826C839 VISA INC - CLASS A SHARES US V 2,420.15 $432,868.49
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 9,878.17 $9,606.52
929042109 VORNADO REALTY TRUST US VNO 172.87 $11,345.33
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 4,939.09 $4,630.39
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 332,053.83 $339,861.57
93065PAA9 WBHT 2019-WBM A FLT 2.97125 12/15/2033 US 172,868.04 $172,975.24
931142103 WAL MART STORES US WMT 1,173.53 $137,607.78
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 691.47 $37,878.85
94106L109 WASTE MANAGEMENT INC US WM 802.11 $90,004.51
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 14,817.26 $15,039.52
948741103 WEINGARTEN REALTY INVESTORS US WRI 716.17 $22,724.00
949746101 WELLS FARGO COMPANY US WFC 3,255.85 $168,099.33
95040Q104 WELLTOWER INC. US WELL 452.42 $41,030.00
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 395,126.95 $411,976.95
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 67,422.61 $67,575.68
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 14,817.26 $13,928.23
B29TNV3 INNERGEX RENEWABLE ENERGY CA INE CN 1,950.94 $24,351.57
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 271,649.78 $14,090.09
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 32,597.97 $25,526.70
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 497,859.96 $25,850.73
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 724,070.14 $37,908.06
B63QM77 NEXON CO LTD JP 3659 JP 25,485.69 $295,334.43
B68XHC3 NORTHLAND POWER INC CA NPI CN 1,180.44 $23,571.19
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 90,879.2 $5,052.32
BBG00P131QW2 SE US 11/15/19 C27 SG -40.5 -$12,555.16
BBG00QG82MR7 NOW US 11/08/19 P200 US -4.94 -$197.56
BBG00QH0RKM5 EA US 11/01/19 P87.5 US -8.89 -$17.78
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 8,692.79 $13,534.31
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 6,954.23 $282,084.04
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 5,324.34 $25,542.97
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 7,942.05 $247,480.78
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 3,170.89 $255,946.40
G29183103 EATON CORP PLC US ETN 369.44 $32,182.24
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 1,427.4 $61,849.07
G5960L103 MEDTRONIC INC IE MDT 5,769.84 $628,335.72
H01301128 ALCON INC CH ALC 2,370.76 $140,515.05
H1467J104 CHUBB LTD CH CB 214.36 $32,672.20
H8817H100 TRANSOCEAN LTD US RIG 12,456.38 $59,167.79
N47279109 INTERXION HOLDING NV NL INXN 3,348.7 $295,422.40
USD US DOLLAR US 746,889.25 $746,889.25

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

Distributions

  • Target Income Series Class I Distribution History
  • 2019 Distribution Calendar
  • Fourth Quarter 2018 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2019 Distributions
  • Tax Letter
  • Target 2010 Merger into Target Income – 2015

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

$10.57

Daily $ Change

$0.01

Daily % Change

0.09%

as of 11/13/2019

Ticker

MTDIX

CUSIP

56382P203

Inception Date

03/28/2008

Investment Minimum

$1,000,000.00

Investment minimum may be waived for certain qualified retirement plans.

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 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 15% - 45%.

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.

Target Series Glide Path Overview

Learn more about our Glide Range SM

Performance

As of 10/31/2019

YTD

11.45%

1 Year

10.47%

3 Year

5.52%

5 Year

3.68%

10 Year

5.35%

Inception
(03/28/2008)

4.99%

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 0.81%
Net 0.65%*

*Includes acquired fund fees and expenses of the underlying Series. 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 10/31/2019

GOVERNMENT AGENCY 14.18%
TREASURY NOTES 10.91%
TREASURY BONDS 7.13%
UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 3.97%
TREASURY BILLS 2.01%
TSY INFL IX N/B 0.50000 04/15/2024 1.95%
EXPORT-IMPORT BANK KOREA 2.62500 12/30/2020 1.27%
VERIZON COMMUNICATIONS 5.25000 03/16/2037 1.15%
BOOKING HOLDINGS INC 3.60000 06/01/2026 1.08%
BANK OF AMERICA CORP 4.00000 01/22/2025 1.05%

Top Ten Investments list is unaudited and excludes cash.

Asset Allocation

As of 10/31/2019

Bonds
72.41%
Stocks
26.64%
Cash
0.95%

Detailed Asset Class Allocation

As of 10/31/2019

International Equities
6.87%
Small Capitalization
0.53%
Mid Capitalization
1.17%
Large Capitalization
18.07%
Long Term Fixed Income
16.67%
Intermediate Term Fixed Income
42.74%
Short Term Fixed Income
13.00%
Cash
0.95%

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

October Fund Holdings

As of 10/31/2019

CUSIP Security Description Country Ticker Shares/Par Market Value (USD)
00101JAK2 ADT SEC CORP 6.25000 10/15/2021 US 4,939.09 $5,266.30
00206R102 AT&T INC US T 1,239.71 $47,716.47
00206RDQ2 AT&T INC 4.25000 03/01/2027 US 513,665.04 $564,161.12
00287Y109 ABBVIE INC US ABBV 870.27 $69,229.75
004239109 ACADIA REALTY TRUST US AKR 291.41 $8,153.54
00489LAA1 ACRISURE LLC / FIN INC 7.00000 11/15/2025 US 14,817.26 $13,557.79
00507V109 ACTIVISION INC US ATVI 4,474.81 $250,723.76
00774MAG0 AERCAP IRELAND CAP / GLOBA 4.45000 10/01/2025 IE 523,543.21 $568,085.28
00791GAA5 AG MERGER SUB II INC 10.75000 08/01/2027 US 9,878.17 $9,779.39
008492100 AGREE REALTY CORP US ADC 172.87 $13,616.82
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64829EAA2 NRZT 2015-2A A1 3.75000 08/25/2055 US 88,724.52 $92,499.68
64829LAA6 NRZT 2016-4A A1 3.75000 11/25/2056 US 118,618.06 $123,720.35
66727WAA0 NORTHWEST ACQ/DOMINION 7.12500 11/01/2022 CA 14,817.26 $7,408.63
66987V109 NOVARTIS AG- REG CH NVS 5,166.28 $451,739.95
67059TAD7 NUSTAR LOGISTICS LP 6.75000 02/01/2021 US 9,878.17 $10,235.57
67066G104 NVIDIA CORP US NVDA 829.77 $166,799.68
67103H107 O'REILLY AUTOMOTIVE INC US ORLY 75.07 $32,695.53
674599105 OCCIDENTAL PETROLEUM CORP US OXY 997.7 $40,406.67
680665AL0 OLIN CORP 5.62500 08/01/2029 US 9,878.17 $10,256.21
681936100 OMEGA HEALTHCARE INVS INC US OHI 444.52 $19,576.56
693475105 PNC FINANCIAL SERVICES GROUP US PNC 172.87 $25,359.74
70338P100 PATTERN ENERGY GROUP INC -A US PEGI 779.39 $21,846.24
7123870 NESTLE SA-REGISTERED CH NESN SW 2,736.25 $292,728.14
713448108 PEPSICO INC US PEP 2,533.75 $347,554.71
71654V101 PETROLEO BRASIL-SP PREF ADR BR PBR/A 3,023.71 $45,627.77
717081103 PFIZER INC US PFE 3,681.6 $141,262.82
719245AD4 PHOTO HOLDINGS MERGER SU 8.50000 10/01/2026 US 9,878.17 $8,694.08
71943U104 PHYSICIANS REALTY TRUST US DOC 2,731.32 $50,993.65
729640102 PLYMOUTH INDUSTRIAL REIT INC US 1,432.34 $27,013.84
741503AZ9 BOOKING HOLDINGS INC 3.60000 06/01/2026 US 780,375.73 $844,879.61
74166MAC0 PRIME SECSRVC BRW/FINANC 5.75000 04/15/2026 US 4,939.09 $5,061.08
74251V102 PRINCIPAL FINANCIAL GROUP US PFG 330.92 $17,664.45
742718109 PROCTER & GAMBLE CO US PG 469.21 $58,421.74
74333KAA6 PROG 2017-SFR2 A 2.89700 12/17/2034 US 148,172.61 $148,910.56
74333NAA0 PROGRESS RESIDENTIAL TRUST 3.14700 05/17/2036 US 276,588.87 $281,389.34
74340W103 PROLOGIS US PLD 1,042.15 $91,458.85
74460D109 PUBLIC STORAGE INC US PSA 172.87 $38,525.37
749685103 RPM INTERNATIONAL INC US RPM 726.05 $52,587.50
750236AW1 RADIAN GROUP INC 4.87500 03/15/2027 US 14,817.26 $15,372.91
756109104 REALTY INCOME CORP US O 138.29 $11,311.10
7591EP100 REGIONS FINANCIAL CORP. US RF 1,145.87 $18,448.48
760759100 REPUBLIC SERVICES INC US RSG 518.6 $45,383.05
767204100 RIO TINTO PLC - SPON ADR GB RIO 891.01 $46,341.50
77340RAK3 ROCKIES EXPRESS PIPELINE 5.62500 04/15/2020 US 9,878.17 $10,044.10
780259107 ROYAL DUTCH SHELL PLC-ADR B NL RDS/B 207.44 $12,091.77
78409V104 S&P GLOBAL INC US SPGI 592.69 $152,908.20
78410G104 SBA COMMUNICATIONS CORP US SBAC 582.81 $140,253.77
78442PGC4 SLM CORP 5.12500 04/05/2022 US 14,817.26 $15,298.82
78470NAB2 SOFI 2015-D A2 2.72000 10/27/2036 US 70,790.55 $71,435.78
78470RAC1 SOFI 2016-E A2B 2.49000 01/25/2036 US 205,820.19 $206,619.45
785592AV8 SABINE PASS LIQUEFACTION 5.87500 06/30/2026 US 642,081.3 $737,270.89
80282KAE6 SANTANDER HOLDINGS USA 4.50000 07/17/2025 US 513,665.04 $553,524.70
806857108 SCHLUMBERGER LTD NL SLB 3,358.58 $109,791.95
808524797 SCHWAB US DVD EQUITY ETF US 2,268.03 $125,920.95
81141R100 SEA LTD - ADR SG SE 8,732.31 $259,873.42
81211K100 SEALED AIR CORP US SEE 1,037.21 $43,324.19
812578102 SEATTLE GENETICS INC US SGEN 1,205.14 $129,431.74
81745EAA7 SEMT 2013-8 A1 3.00000 06/25/2043 US 107,199.53 $108,409.71
81762P102 SERVICENOW INC US NOW 1,244.65 $307,752.14
822538AE4 SHELF DRILL HOLD LTD 8.25000 02/15/2025 KY 9,878.17 $8,297.67
828806109 SIMON PROPERTY GROUP INC US SPG 419.82 $63,258.84
831641FC4 SBIC 2015-10A 1 2.51700 03/10/2025 US 77,601.31 $78,907.69
83401BAA4 SOFI 2017-F A1FX 2.05000 01/25/2041 US 24,376.98 $24,375.19
83401BAB2 SOFI 2017-F A2FX 2.84000 01/25/2041 US 74,086.3 $75,186.44
83402JAC2 SOFI 2016-B A2B 2.74000 10/25/2032 US 56,260.59 $56,630.98
83404YAA1 SCLP 2016-5 A 3.06000 09/25/2028 US 78,171.74 $78,572.61
83405TAA1 SCLP 2019-3 A MTGE 2.90000 05/25/2028 US 222,339.92 $223,922.09
83406CAA7 SCLP 2019-2 A MTGE 3.01000 04/25/2028 US 177,846.8 $179,239.18
83406EAB1 SOFI 2018-A A2A 2.39000 02/25/2042 US 63,564.73 $63,687.27
835699307 SONY CORP SPONSORED ADR JP SNE 4,840.31 $294,435.76
84265VAD7 SOUTHERN COPPER CORP 5.37500 04/16/2020 US 572,934.08 $580,002.17
845467AL3 SOUTHWESTERN ENERGY CO 6.20000 01/23/2025 US 9,878.17 $8,692.79
852061AR1 SPRINT COMMUNICATIONS 7.00000 08/15/2020 US 14,817.26 $15,264.30
85207UAE5 SPRINT CORP 7.25000 09/15/2021 US 4,939.09 $5,270.30
85207UAH8 SPRINT CORP 7.12500 06/15/2024 US 4,939.09 $5,358.91
85254J102 STAG INDUSTRIAL INC US STAG 1,333.55 $41,393.50
855030AN2 STAPLES INC 7.50000 04/15/2026 US 9,878.17 $10,275.28
85571XAA5 SRPT 2014-STAR A FLTG RATE 3.13350 11/15/2027 US 249,529.94 $249,081.01
858912AF5 STERICYCLE INC 5.37500 07/15/2024 US 14,817.26 $15,409.95
862121100 STORE CAPITAL CORP US STOR 405.01 $16,402.71
866674104 SUN COMMUNITIES US SUI 251.89 $40,970.47
86723CAF5 SUNCOKE ENRGY PART LP/FI 7.50000 06/15/2025 US 4,939.09 $4,198.22
867892101 SUNSTONE HOTEL INVESTORS INC US SHO 785.31 $10,609.60
86935CAA0 SCML 2019-SBC8 2.86000 12/25/2035 US 254,886.07 $256,338.79
87612E106 TARGET CORP US TGT 360.55 $38,546.76
87854WAA1 TECHNIPLAS LLC 10.00000 05/01/2020 US 9,878.17 $8,347.06
88032WAN6 TENCENT HOLDINGS 3.97500 04/11/2029 KY 405,005.13 $435,874.45
882508104 TEXAS INSTRUMENTS INC US TXN 554.17 $65,385.99
88579Y101 3M CO US MMM 393.15 $64,866.04
89151E109 TOTAL S A SPONSORED ADR FR TOT 1,003.62 $52,820.65
89173CAA5 TPMT 2016-5 A1 2.50000 10/25/2056 US 178,937.96 $179,622.24
89173FAA8 TPMT 2017-1 A1 2.75000 10/25/2056 US 166,061.48 $168,026.35
89177EAA7 TPMT 2019-HY1 A1 2.82275 10/25/2048 US 157,173.13 $158,012.76
892231AA9 TOWNSQUARE MEDIA INC 6.50000 04/01/2023 US 4,939.09 $4,889.70
89613BAA5 TAH 2016-SFR1 A 2.58900 11/17/2033 US 212,444.86 $212,399.90
89613FAA6 TAH 2017-SFR2 A 2.92800 01/17/2036 US 197,004.59 $199,958.74
901109AF5 TUTOR PERINI CORP 6.87500 05/01/2025 US 14,817.26 $14,778.00
902653104 UDR INC US UDR 672.7 $33,803.36
902973304 U.S. BANCORP US USB 992.76 $56,606.97
903002103 UMH PROPERTIES INC US UMH 607.51 $9,070.09
904767704 UNILEVER PLC - ADR GB UL 5,514 $331,446.34
907818108 UNION PAC CORP US UNP 405.01 $67,012.15
911312106 UNITED PARCEL SERVICE US UPS 1,024.37 $117,976.30
912796SR1 TREASURY BILL 0.00000 05/21/2020 US 1,580,507.82 $1,566,894.80
912810QV3 UNITED STATES TREAS INFL INDEX 0.75000 02/15/2042 US 372,812.44 $391,746.54
912810RX8 US TREASURY N/B 3.00000 05/15/2047 US 647,020.39 $757,620.43
9128284P2 US TREASURY N/B 2.62500 05/15/2021 US 1,516,299.69 $1,539,991.87
9128286N5 TSY INFL IX N/B 0.50000 04/15/2024 US 1,507,285.85 $1,527,101.49
912828K33 UNITED STATES TREAS INFL INDEX 0.12500 04/15/2020 US 3,116,016.51 $3,099,340.96
912828R36 US TREASURY N/B 1.62500 05/15/2026 US 2,331,249.03 $2,334,982.66
912828VS6 US TREASURY N/B 2.50000 08/15/2023 US 4,647,680.79 $4,813,254.43
912828WJ5 US TREASURY N/B 2.50000 05/15/2024 US 2,237,406.38 $2,331,796.96
912828XB1 UNITED STATES TREAS NTS 2.12500 05/15/2025 US 2,252,223.64 $2,318,118.77
913017109 UNITED TECHNOLOGIES CORP US UTX 537.37 $77,155.97
91704F104 URBAN EDGE PROPERTIES US UE 1,101.42 $23,250.90
918204108 VF CORP US VFC 353.64 $29,100.92
91913Y100 VALERO ENERGY US VLO 374.38 $36,307.64
92276F100 VENTAS INC US VTR 493.91 $32,153.46
92339V100 VEREIT INC US VER 2,988.15 $29,403.37
92343V104 VERIZON COMMUNICATIONS US VZ 1,190.32 $71,978.65
92343VDU5 VERIZON COMMUNICATIONS 5.25000 03/16/2037 US 711,228.52 $895,847.92
92532F100 VERTEX PHARMACEUTICALS INC US VRTX 513.67 $100,411.24
92826C839 VISA INC - CLASS A SHARES US V 2,420.15 $432,868.49
92840JAA7 VISTAJET MALTA/XO MGMT 10.50000 06/01/2024 MUL 9,878.17 $9,606.52
929042109 VORNADO REALTY TRUST US VNO 172.87 $11,345.33
92922PAL0 W & T OFFSHORE INC 9.75000 11/01/2023 US 4,939.09 $4,630.39
92935JBC8 WF-RBS COMMERCIAL MORTGAGE T FLT 4.86900 02/15/2044 US 332,053.83 $339,861.57
93065PAA9 WBHT 2019-WBM A FLT 2.97125 12/15/2033 US 172,868.04 $172,975.24
931142103 WAL MART STORES US WMT 1,173.53 $137,607.78
931427108 WALGREENS BOOTS ALLIANCE INC US WBA 691.47 $37,878.85
94106L109 WASTE MANAGEMENT INC US WM 802.11 $90,004.51
94856UAA9 WEEKLEY HOMES LLC/ FINAN 6.62500 08/15/2025 US 14,817.26 $15,039.52
948741103 WEINGARTEN REALTY INVESTORS US WRI 716.17 $22,724.00
949746101 WELLS FARGO COMPANY US WFC 3,255.85 $168,099.33
95040Q104 WELLTOWER INC. US WELL 452.42 $41,030.00
96949LAD7 WILLIAMS PARTNERS LP 3.75000 06/15/2027 US 395,126.95 $411,976.95
97651JAE6 WINWATER MORTGAGE LOAN TRUST 3.50000 03/20/2045 US 67,422.61 $67,575.68
AP8694550 BOREALIS FINANCE LLC 7.50000 11/16/2022 MH 14,817.26 $13,928.23
B29TNV3 INNERGEX RENEWABLE ENERGY CA INE CN 1,950.94 $24,351.57
B3ZD2V9 MEX BONOS DESARR FIX RT 6.50000 06/10/2021 MX 271,649.78 $14,090.09
B4888C1 CANADIAN GOVERNMENT FLT 2.75000 06/01/2022 CA 32,597.97 $25,526.70
B4NDCC9 MEX BONOS DESARR FIX RT 6.50000 06/09/2022 MX 497,859.96 $25,850.73
B615Y14 MEX BONOS DESARR FIX RT 8.00000 06/11/2020 MX 724,070.14 $37,908.06
B63QM77 NEXON CO LTD JP 3659 JP 25,485.69 $295,334.43
B68XHC3 NORTHLAND POWER INC CA NPI CN 1,180.44 $23,571.19
B6TC406 MEX BONOS DESARR FIX RT 7.75000 05/29/2031 MX 90,879.2 $5,052.32
BBG00P131QW2 SE US 11/15/19 C27 SG -40.5 -$12,555.16
BBG00QG82MR7 NOW US 11/08/19 P200 US -4.94 -$197.56
BBG00QH0RKM5 EA US 11/01/19 P87.5 US -8.89 -$17.78
BGHQ198 HIBERNIA REIT PLC IE HBRN ID 8,692.79 $13,534.31
BMMV2K8 TENCENT HOLDINGS LTD CN 700 HK 6,954.23 $282,084.04
BMTRW10 B&M EUROPEAN VALUE RETAIL SA GB BME LN 5,324.34 $25,542.97
BP9DL90 INDUSTRIA DE DISENO TEXTIL ES ITX SM 7,942.05 $247,480.78
BYYHL23 ANHEUSER-BUSCH INBEV SA/NV BE ABI BB 3,170.89 $255,946.40
G29183103 EATON CORP PLC US ETN 369.44 $32,182.24
G51502105 JOHNSON CONTROLS INTERNATIONAL US JCI 1,427.4 $61,849.07
G5960L103 MEDTRONIC INC IE MDT 5,769.84 $628,335.72
H01301128 ALCON INC CH ALC 2,370.76 $140,515.05
H1467J104 CHUBB LTD CH CB 214.36 $32,672.20
H8817H100 TRANSOCEAN LTD US RIG 12,456.38 $59,167.79
N47279109 INTERXION HOLDING NV NL INXN 3,348.7 $295,422.40
USD US DOLLAR US 746,889.25 $746,889.25

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

Distributions

  • Target Income Series Class I Distribution History
  • 2019 Distribution Calendar
  • Fourth Quarter 2018 Distributions
  • Third Quarter 2019 Distributions
  • Second Quarter 2019 Distributions
  • First Quarter 2019 Distributions
  • Tax Letter
  • Target 2010 Merger into Target Income – 2015

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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