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.
For more information on Manning & Napier and its zero revenue share fund offerings, visit: https://www.manning-napier.com/.About Manning & Napier, Inc. Manning & Napier (NYSE: MN) provides a broad range of investment solutions through separately managed accounts, mutual funds, and collective investment trust funds, as well as a variety of consultative services that complement our investment process. Founded in 1970, we offer equity and fixed income portfolios as well as a range of blended asset portfolios, such as life cycle funds, that use a mix of stocks and bonds. We serve a diversified client base of high-net-worth individuals and institutions, including 401(k) plans, pension plans, Taft-Hartley plans, endowments and foundations. For many of these clients, our relationship goes beyond investment management and includes customized solutions that address key issues and solve client-specific problems. We are headquartered in Fairport, NY and had more than 425 full-time employees as of March 31, 2013. Manning & Napier, Inc. is publically traded under MN. Manning & Napier Advisors, LLC (Manning & Napier) provides investment advisory services to Exeter Trust Company (ETC), Trustee of the Manning & Napier Collective Investment Trust funds. The Collectives are available only for use within certain qualified employee benefit plans. Manning & Napier, Inc., Manning & Napier, and ETC are affiliates. Safe Harbor Statement This press release and other statements that the Company may make may contain forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the Company’s current views with respect to, among other things, its operations and financial performance. Words like “believes,” “expects,” “may,” “estimates,” “will,” “should,” “intends,” “plans,” or “anticipates” or the negative thereof or other variations thereon or comparable terminology, are used to identify forward-looking statements, although not all forward-looking statements contain these words. Although the Company believes that it is basing its expectations and beliefs on reasonable assumptions within the bounds of what it currently knows about its business and operations, there can be no assurance that its actual results will not differ materially from what the Company expects or believes. Some of the factors that could cause the Company’s actual results to differ from its expectations or beliefs include, without limitation: changes in securities or financial markets or general economic conditions; a decline in the performance of the Company’s products; client sales and redemption activity; changes of government policy or regulations; and other risks discussed from time to time in the Company’s filings with the Securities and Exchange Commission.