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Manning & Napier Adds New Class With Zero Revenue Share To Pro-Mix® CIT Fund Family

Manning & Napier, Inc. (NYSE: MN), (“Manning & Napier” or “the Company”) today announced the launch of a new, zero revenue share Class U for its Pro-Mix® Collective Investment Trust (CIT) Fund family. The new unit class helps plan sponsors to clarify administrative costs paid by participants, and recognizes the increasing trend toward more transparent, fee-conscious offerings.

The Manning & Napier Pro-Mix® CIT Funds are a suite of actively managed, fully diversified collective investment trust funds that offer professional management solutions to qualified plan participants. Class U is being offered across the entire fund family, including the Conservative, Moderate, Extended, and Maximum Term CIT Funds. The Pro-Mix® CIT Funds, launched in 2000, are also offered in Class S to address the ongoing need for various plan cost structures.

“Manning & Napier’s objective is to improve participant results with value-added risk management,” said Patrick Cunningham, Chief Executive Officer. “The Pro-Mix® CIT Funds Class U makes it easier for fiduciaries to distinctly separate investment fees from administrative fees. Participants today desire a high level of transparency. We believe it is our responsibility as an investment manager to help drive outcomes at both the plan sponsor and participant level.”

The U.S. Department of Labor (DOL) issued last year a new set of rules that requires the disclosure of plan-level and investment-level fees associated with workers’ 401(k) accounts. Increasingly, investment managers have developed solutions to help plan sponsors, advisors, and participants better understand fiduciary duties and evaluate fee reasonableness.

Manning & Napier has a long legacy of offering life cycle solutions, with more than 40 years of experience rooted in multi-asset class investments. In June 2012, the Company launched the GOALSM CIT Funds, a suite of actively-managed target date funds, investing in a variety of exchange-traded funds. The GOALSM CIT Funds are offered with a single, non-revenue share unit class, Class U.

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