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Manning & Napier launches actively managed, ETF-based target date solutions


Manning & Napier has launched the Manning & Napier Goal Collective Investment Trust (CIT) Funds, a suite of ten actively managed target date funds which will invest in a variety of exchange-traded funds (ETFs).

The Manning & Napier Goal CIT Funds provide an opportunity for active management at a lower cost structure while maintaining diversification of asset classes, market sectors, and securities through ETFs.

The Manning & Napier Goal CIT Funds range from an Income fund to a 2055 fund and will be built using the same active asset allocation approach the Company has implemented for more than 40 years. The active approach allows for flexibility to shift portfolio assets away from over-valued sectors and towards areas of lower risk. Utilising a team-based investment strategy, the Goal CIT Funds will be overseen by the Company’s Senior Research Group.

"Manning & Napier Advisors, LLC was offering active life cycle solutions long before the market recognised the value of such products," says Patrick Cunningham (pictured), Chief Executive Officer. "The Goal CIT Funds are consistent with our philosophies in target date product innovation by providing a common sense, active approach to investing in ETFs while focusing on participant outcomes. We consider these to be a logical extension of our current offerings that utilise a flexible glide range, which enables both age-based and environment-based adjustments over time."

The Manning & Napier Goal CIT Funds will be offered with an expense ratio of 0.34%, excluding ETFs fees. The Goal Funds will initially be offered with a single, no revenue share unit class (U Class) to meet the needs of plan sponsors who desire the highest degree of fee transparency.

"The ETF market has matured to a point where we can actively manage the funds, and this maturity is now allowing us to price the offering at a level more in line with passively managed products," says Cunningham.


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