The newly floated mutual funds have been designed to generate income in the current low yield market environment, claims Manning & Napier.
According to the wealth manager, the funds have a mix of stocks and bonds, and will target income-producing securities, with an aim to offer investors with both income and appreciation potential, while concentrating on minimizing risk.
The Manning & Napier Fund’s Strategic Income Conservative Series and Moderate Series both invest in four underlying, proprietary mutual funds that offer diversified exposure to dividend paying equities, fixed income, and real estate.
The Strategic Income Conservative Series offers a 15%-45% equity range, and the Strategic Income Moderate Series offers a 44%-75% equity range.
Manning & Napier chief executive officer Patrick Cunningham said in today’s market environment, yields on traditional ‘safe,’ income-producing securities like US Treasuries are very low, and negative in some cases on an inflation-adjusted basis.
"We have developed a strategy that provides greater income potential and helps to mitigate risk through an active security selection and asset allocation approach," Cunningham added.
The asset manager said that the funds will be provided with both a retail share class (S Class) and institutional share class (I Class) with investment minimums of $2,000 and $1m, respectively.
Manning & Napier caters diversified 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.
