Separately Managed Accounts
High Yield Bond
Investment Objective
To provide a high level of long-term total return by investing principally in non-investment grade fixed income securities that are issued by corporate and government entities.
Investment Team
The portfolio is managed by the High Yield Credit Team which consists of Marc Bushallow, CFA (Managing Director of Fixed Income) and Scott Friedman, CFA (Senior Analyst).
Performance
As of 09/30/2024
YTD
9.5%
1 Year
16.18%
3 Year
5.33%
5 Year
6.77%
10 Year
5.99%
Inception
10/01/2009
7.41%
Composition
Primarily below investment grade debt
0% - 0% Equities
Investment Process
Manning & Napier employs a disciplined, risk-conscious investment approach that invests opportunistically "through the cycle" to deliver attractive risk-adjusted returns over time. The result is a concentrated, actively managed, high conviction portfolio that consistently seeks to own the best available opportunities in order to generate alpha for investors.
The High Yield Bond Composite is a weighted average of discretionary separately managed accounts and may include proprietary mutual fund accounts with a High Yield Bond objective. Accounts in this composite must have a market value greater than $500,000 and tenure of at least one month under our management. The investment objective of accounts in this composite is to provide a high level of income with the potential for capital appreciation. 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. 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 a high level of long-term total return by investing principally in non-investment grade fixed income securities that are issued by corporate and government entities.
Investment Team
The portfolio is managed by the High Yield Credit Team which consists of Marc Bushallow, CFA (Managing Director of Fixed Income) and Scott Friedman, CFA (Senior Analyst).
Composition
Primarily below investment grade debt
Performance
As of 09/30/2024
YTD
9.5%
1 Year
16.18%
3 Year
5.33%
5 Year
6.77%
10 Year
5.99%
Inception
10/01/2009
7.41%
Investment Process
Manning & Napier employs a disciplined, risk-conscious investment approach that invests opportunistically "through the cycle" to deliver attractive risk-adjusted returns over time. The result is a concentrated, actively managed, high conviction portfolio that consistently seeks to own the best available opportunities in order to generate alpha for investors.
The High Yield Bond Composite is a weighted average of discretionary separately managed accounts and may include proprietary mutual fund accounts with a High Yield Bond objective. Accounts in this composite must have a market value greater than $500,000 and tenure of at least one month under our management. The investment objective of accounts in this composite is to provide a high level of income with the potential for capital appreciation. 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. 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.