Investment Objective

To provide long-term growth of capital by investing in equity securities of domestic and non-U.S. companies that meet our quality screening criteria. The investment minimum for the portfolio is $250,000.

Investment Team

The portfolio is managed by a team of five research professionals whose three key members average over 13 years with the firm.

Performance

As of 09/30/2018

YTD

6.03%

1 Year

12.56%

3 Year

11.29%

5 Year

8.55%

10 Year

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Inception
(08/01/2011)

10.59%

Market Cycle

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Composition

The portfolio is composed of companies located in developed markets, including the U.S. as well as foreign countries, that meet our quality screening criteria. Companies are selected based on factors such as business stability, cash flow generation, profitability, corporate governance, and environmental/social impact. The focus is on mid-to-large cap companies.

90% - 100% Equities

Investment Process

The Global Quality Management Team uses a proprietary systematic investment process to create an equity portfolio made up of quality companies from across the globe. Developed market companies with high-quality business fundamentals are identified through a quantitative process focused on quality characteristics and valuation criteria. Additionally, environmental, social, and governance factors are incorporated into the selection and portfolio construction process, as we believe companies that exhibit favorable ESG characteristics are most likely to be quality businesses that maintain stability over time. The resulting portfolio consists of about 75-100 mid-to-large cap companies and is rebalanced quarterly while being continuously monitored.

The Manning & Napier Global Quality Composite is a weighted average of discretionary separately managed and mutual fund accounts with a Global Quality objective. Accounts in this composite must have a market value greater than $1 million and tenure of at least one month under our management. The investment objective of accounts in this composite is primarily long-term capital growth through selected U.S. and non-U.S. equity securities. These equity investments are mid- to large- capitalization stocks with favorable dividend yields, strong cash flow yields and stable financial characteristics that meet quantitative and qualitative screening criteria. Portfolios in this composite may use forward currency contracts to attempt to hedge against the effects of currency rate fluctuations. Such contracts never exceed 50% of the portfolio and are only used when there is a high probability of a significant adverse movement of a currency. Net-of-fee returns are calculated based off of the effective fees of the accounts in the composite. They are after brokerage commissions, reinvested income, and advisory fees, but if applicable, before custodian costs and the fees of the investor’s Personal Financial Advisor. Also, accounts subject to solicitation fees may incur as much as 0.15% in additional expenses. Fees will vary with size and circumstances and these fee differentials would impact returns accordingly. Past performance does not guarantee future results. All returns were earned in USD and are stated here in USD. All data are subject to revision. Performance for periods greater than one year is annualized.

Investment Objective

To provide long-term growth of capital by investing in equity securities of domestic and non-U.S. companies that meet our quality screening criteria. The investment minimum for the portfolio is $250,000.

Investment Team

The portfolio is managed by a team of five research professionals whose three key members average over 13 years with the firm.

Composition

The portfolio is composed of companies located in developed markets, including the U.S. as well as foreign countries, that meet our quality screening criteria. Companies are selected based on factors such as business stability, cash flow generation, profitability, corporate governance, and environmental/social impact. The focus is on mid-to-large cap companies.

90% - 100% Equities

Performance

As of 09/30/2018

YTD

6.03%

1 Year

12.56%

3 Year

11.29%

5 Year

8.55%

10 Year

---

Inception
(08/01/2011)

10.59%

Market Cycle

---

Investment Process

The Global Quality Management Team uses a proprietary systematic investment process to create an equity portfolio made up of quality companies from across the globe. Developed market companies with high-quality business fundamentals are identified through a quantitative process focused on quality characteristics and valuation criteria. Additionally, environmental, social, and governance factors are incorporated into the selection and portfolio construction process, as we believe companies that exhibit favorable ESG characteristics are most likely to be quality businesses that maintain stability over time. The resulting portfolio consists of about 75-100 mid-to-large cap companies and is rebalanced quarterly while being continuously monitored.

The Manning & Napier Global Quality Composite is a weighted average of discretionary separately managed and mutual fund accounts with a Global Quality objective. Accounts in this composite must have a market value greater than $1 million and tenure of at least one month under our management. The investment objective of accounts in this composite is primarily long-term capital growth through selected U.S. and non-U.S. equity securities. These equity investments are mid- to large- capitalization stocks with favorable dividend yields, strong cash flow yields and stable financial characteristics that meet quantitative and qualitative screening criteria. Portfolios in this composite may use forward currency contracts to attempt to hedge against the effects of currency rate fluctuations. Such contracts never exceed 50% of the portfolio and are only used when there is a high probability of a significant adverse movement of a currency. Net-of-fee returns are calculated based off of the effective fees of the accounts in the composite. They are after brokerage commissions, reinvested income, and advisory fees, but if applicable, before custodian costs and the fees of the investor’s Personal Financial Advisor. Also, accounts subject to solicitation fees may incur as much as 0.15% in additional expenses. Fees will vary with size and circumstances and these fee differentials would impact returns accordingly. Past performance does not guarantee future results. All returns were earned in USD and are stated here in USD. All data are subject to revision. Performance for periods greater than one year is annualized.


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