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Manning & Napier's Focused Opportunities Series to liquidate (see last post)

edited December 2015 in Fund Discussions
http://www.sec.gov/Archives/edgar/data/751173/000119312515404924/d104788d497.htm

497 1 d104788d497.htm MANNING & NAPIER FUND, INC.
MANNING & NAPIER FUND, INC.

Supplement dated December 16, 2015 to the combined Prospectus (the “Prospectus”) dated May 1, 2015 as supplemented August 3, 2015, November 17, 2015, and November 25, 2015 for the following Series:

Focused Opportunities Series

This supplement provides new and additional information beyond that contained in the Prospectus and should be read in conjunction with the Prospectus.


The Focused Opportunities Series will be closed to new investors and to additional investments from existing shareholders as follows:

For discretionary investment clients of Manning & Napier Advisors, LLC and its affiliates: The Series will be closed to new investors and to additional investments from existing shareholders effective immediately.

For other shareholders: Effective immediately, the Series will be closed to new investors. Effective December 22, 2015, the Series will stop selling its shares to existing shareholders and will no longer accept automatic investments from existing shareholders.

PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

Comments

  • now this is the way to close a fund. bingo bango!
  • Only 15% below its benchmark since inception, I'm sure people are crying.
  • It's their worst fund by a mile, I'd bet that there'll be some manager changes coming soon.
  • I used to be a big fan of the Manning & Napier target date offerings. Their performance has only been average (or worse) over the past five years. Not sure what is going on, but I believe they may have had (in the past) one shot successes with holdings such as Hess.
  • http://www.sec.gov/Archives/edgar/data/751173/000119312515409219/d104788d497.htm

    497 1 d104788d497.htm MANNING & NAPIER FUND, INC.
    MANNING & NAPIER FUND, INC.

    Supplement dated December 21, 2015 to the combined Prospectus (the “Prospectus”) dated May 1, 2015 as supplemented August 3, 2015, November 17, 2015, November 25, 2015 and December 16, 2015 for the following Series:

    Focused Opportunities Series

    This supplement provides new and additional information beyond that contained in the Prospectus and should be read in conjunction with the Prospectus.


    The Board of Directors of the Manning & Napier Fund, Inc. has voted to completely liquidate the Focused Opportunities Series (the “Series”).

    The closure of the Series to new investors and to additional investments from existing shareholders was described in the December 16, 2015 supplement to the Prospectus.

    The Series will redeem all of its outstanding shares on or about January 25, 2016 and distribute the proceeds to the Series’ shareholders (subject to maintenance of appropriate reserves for liquidation and other expenses).

    As is the case with other redemptions, each shareholder’s redemption, including a mandatory redemption, will constitute a taxable disposition of shares for those shareholders who do not hold their shares through tax-advantaged plans. Shareholders should contact their tax advisors to discuss the potential income tax consequences of the liquidation.

    As Series shareholders redeem shares of the Series between the date of this supplement and the date of the final redemption, and as the Series increases its cash positions to facilitate redemptions, the Series may not be able to continue to invest its assets in accordance with its stated investment policies. Accordingly, the Series may not be able to achieve its investment objectives during the period between the date of this supplement and the date of its final redemption.

    PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
  • MANNING & NAPIER has been a wonderful financial investment house from my neck of the world (Fairport NY, an affluent suburb of Rochester) for many years. Recently they bought a majority holding in Rainier Investment Management. I wonder if closings like this will be a consolidation of similar type funds from these companies.

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