Separately Managed Accounts
Global Equity
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.
Performance
As of 09/30/2024
YTD
15.11%
1 Year
29.01%
3 Year
5.2%
5 Year
12.05%
10 Year
9.94%
Inception
05/01/2006
7.67%
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 shown reflect the deduction of a model advisory fee applied to the Gross-of-fee returns on a monthly basis. The model advisory fee is determined by applying the strategy’s tiered fee schedule to every account included in the composite, and is inclusive of management fees, advisory fees, and custody fees for Manning & Napier’s affiliated trust company, Exeter Trust Company. Actual account level fees will vary with size and circumstances and these fee differentials would impact returns accordingly. Returns shown do not reflect the deduction of fees paid to an investor’s personal financial advisor, solicitations fees, or third-party custodian costs, as applicable. 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.
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
Performance
As of 09/30/2024
YTD
15.11%
1 Year
29.01%
3 Year
5.2%
5 Year
12.05%
10 Year
9.94%
Inception
05/01/2006
7.67%
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 shown reflect the deduction of a model advisory fee applied to the Gross-of-fee returns on a monthly basis. The model advisory fee is determined by applying the strategy’s tiered fee schedule to every account included in the composite, and is inclusive of management fees, advisory fees, and custody fees for Manning & Napier’s affiliated trust company, Exeter Trust Company. Actual account level fees will vary with size and circumstances and these fee differentials would impact returns accordingly. Returns shown do not reflect the deduction of fees paid to an investor’s personal financial advisor, solicitations fees, or third-party custodian costs, as applicable. 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.