Manning & Napier has rolled out a suite of 10 actively managed target date funds which will invest in a variety of exchange-traded funds. Dubbed the Manning & Napier Goal Collective Investment Trust Funds, the new offerings will range from an Income fund to a 2055 fund and will be managed by the firm’s senior research group.
The funds will be offered with an expense ratio of 34 basis points, excluding ETFs fees.
“The Goal CIT Funds are consistent with our philosophies in target date product innovation by providing a common sense, active approach to investing in ETFs while focusing on participant outcomes,” stated Patrick Cunningham, chief executive officer.
“The ETF market has matured to a point where we can actively manage the funds, and this maturity is now allowing us to price the offering at a level more in line with passively managed products.”