Separately Managed Accounts
Core Equity – Unrestricted
Investment Objective
To maximize returns over the long-term through consistent participation in stocks and other equity instruments.
Investment Team
The portfolio is managed by a team of tenured research professionals who are responsible for evaluating bottom-up stock recommendations based on strategy fit and valuation measures as well as incorporating the firm’s market and economic overviews into oversight of total portfolio positioning.
Performance
As of 03/31/2024
YTD
5.98%
1 Year
20.25%
3 Year
5.3%
5 Year
11.61%
10 Year
9.58%
Inception
01/01/1995
11.16%
Composition
At least 90% of the portfolio is invested in equities, to achieve stock market participation. Though the portfolio is comprised primarily of U.S. securities, we are also allowed to invest in non-U.S. securities.
90% - 100% Equities
Investment Process
For more than 50 years, the same proprietary bottom-up driven investment process has been used to build diversified portfolios of individual securities. Manning & Napier’s equity analysts first search the global investment universe using both bottom-up (company-specific) and top-down (macro) research to reduce the initial universe to a workable list of potential portfolio candidates. Next, companies are evaluated using fundamental analysis to generate a formal list of portfolio candidates based on three selection strategies - Strategic Profile, Hurdle Rate, and Bankable Deal. If a company is a strategy fit, strict pricing disciplines are used to establish buy and sell targets based on fair market value. Within this process, the company is subjected to peer review within the recommending analyst's sector group. As part of this peer review, every analyst in the sector group has a financial stake in the stock - not just the recommending analyst. When the security is formally recommended, it is presented to the Global Core Team, which determines whether to accept the security recommendation, put it on the “firedrill” list, or reject it. Each holding is continuously monitored based on our strategy fit and valuation criteria, and the portfolio's overall risk exposures are regularly evaluated by the team.
The Manning & Napier Core Equity – Unrestricted Composite is a weighted average of discretionary separately managed accounts with a Core Equity – Unrestricted objective. Accounts in this composite must have a market value greater than $500,000 and tenure of at least one month under our management. This composite includes accounts invested primarily in the U.S. with some non-U.S. equities. The investment objective of accounts in this composite is to maximize returns over the long-term through consistent participation in stocks and other equity instruments. This composite includes separately managed accounts that may have a portion of their assets invested in proprietary asset class mutual funds, which may be declined or may not be permitted through the selection of some custodial programs. Net-of-fee returns are based off of actual fees. They are after brokerage commissions, reinvested income, advisory fees, and if applicable, the fees of the Investor’s Personal Financial Advisor, but before custodian costs. 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 maximize returns over the long-term through consistent participation in stocks and other equity instruments.
Investment Team
The portfolio is managed by a team of tenured research professionals who are responsible for evaluating bottom-up stock recommendations based on strategy fit and valuation measures as well as incorporating the firm’s market and economic overviews into oversight of total portfolio positioning.
Composition
At least 90% of the portfolio is invested in equities, to achieve stock market participation. Though the portfolio is comprised primarily of U.S. securities, we are also allowed to invest in non-U.S. securities.
90% - 100% Equities
Performance
As of 03/31/2024
YTD
5.98%
1 Year
20.25%
3 Year
5.3%
5 Year
11.61%
10 Year
9.58%
Inception
01/01/1995
11.16%
Investment Process
For more than 50 years, the same proprietary bottom-up driven investment process has been used to build diversified portfolios of individual securities. Manning & Napier’s equity analysts first search the global investment universe using both bottom-up (company-specific) and top-down (macro) research to reduce the initial universe to a workable list of potential portfolio candidates. Next, companies are evaluated using fundamental analysis to generate a formal list of portfolio candidates based on three selection strategies - Strategic Profile, Hurdle Rate, and Bankable Deal. If a company is a strategy fit, strict pricing disciplines are used to establish buy and sell targets based on fair market value. Within this process, the company is subjected to peer review within the recommending analyst's sector group. As part of this peer review, every analyst in the sector group has a financial stake in the stock - not just the recommending analyst. When the security is formally recommended, it is presented to the Global Core Team, which determines whether to accept the security recommendation, put it on the “firedrill” list, or reject it. Each holding is continuously monitored based on our strategy fit and valuation criteria, and the portfolio's overall risk exposures are regularly evaluated by the team.
The Manning & Napier Core Equity – Unrestricted Composite is a weighted average of discretionary separately managed accounts with a Core Equity – Unrestricted objective. Accounts in this composite must have a market value greater than $500,000 and tenure of at least one month under our management. This composite includes accounts invested primarily in the U.S. with some non-U.S. equities. The investment objective of accounts in this composite is to maximize returns over the long-term through consistent participation in stocks and other equity instruments. This composite includes separately managed accounts that may have a portion of their assets invested in proprietary asset class mutual funds, which may be declined or may not be permitted through the selection of some custodial programs. Net-of-fee returns are based off of actual fees. They are after brokerage commissions, reinvested income, advisory fees, and if applicable, the fees of the Investor’s Personal Financial Advisor, but before custodian costs. 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.