Investment Objective

To maximize returns over the long-term through consistent participation in both U.S. and non-U.S. equities 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, with a general range of 30% to 70% in equities of companies domiciled outside of the U.S., including developed and emerging markets.

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 Global Equity Composite is a weighted average of discretionary separately managed and collective investment trust fund accounts with a Global Equity 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. Non-U.S. equity exposure for accounts in this composite typically ranges from 30% to 70% with situational adjustments within this range at our discretion. 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. This composite includes separately managed accounts that may have a portion of their assets invested in proprietary asset class mutual funds and collective investment trust funds, which may be declined or may not be permitted through the selection of some custodial programs. 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. 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.