Manning & Napier, Inc. Reports October 31, 2020 Assets Under Management

Rhea-AI Summary

On November 11, 2020, Manning & Napier (NYSE: MN) announced its preliminary assets under management (AUM) as of October 31, 2020, totaling $18.5 billion, a decrease from $19.2 billion on September 30, 2020. The drop in AUM was primarily attributed to lower performance and client redemptions. AUM by investment vehicle showed separate accounts at $13.3 billion and mutual funds at $5.1 billion. The company is focused on providing comprehensive investment solutions for various clients, including high-net-worth individuals and institutions.

Positive

• Total AUM at $18.5 billion indicates significant asset management activity despite a decline.
• Diverse client base includes institutional investors and high-net-worth individuals.

Negative

• AUM decreased by $700 million from September 30, 2020, indicating potential client loss or reduced investment performance.
• Performance and client redemptions contributed to the decline in AUM.

FAIRPORT, N.Y., Nov. 11, 2020 /PRNewswire/ -- Manning & Napier, Inc. (NYSE: MN), ("Manning & Napier" or "the Company") today reported preliminary assets under management ("AUM") as of October 31, 2020 of $18.5 billion compared with $19.2 billion at September 30, 2020.  AUM by investment vehicle and by portfolio are set forth in the table below.

	Assets Under Management
	(in millions)
		October 31, 2020				September 30, 2020
By investment vehicle:
Separate accounts		$	13,317.5			$	13,626.7
Mutual funds and collective investment trusts		5,138.2				5,618.4
Total		$	18,455.7			$	19,245.1
By portfolio:
Blended Asset		$	12,732.4			$	13,367.7
Equity		4,729.3				4,872.6
Fixed Income		994.0				1,004.8
Total		$	18,455.7			$	19,245.1

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, fixed income and alternative strategies, as well as a range of blended asset portfolios, including life cycle funds. 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.

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.

Contacts
Investor Relations Contact
Sean Silva
Prosek Partners
646-818-9122
ssilva@prosek.com

Public Relations Contact
Nicole Kingsley Brunner
Manning & Napier, Inc.
585-325-6880
nbrunner@manning-napier.com

 

View original content:http://www.prnewswire.com/news-releases/manning--napier-inc-reports-october-31-2020-assets-under-management-301171309.html

SOURCE Manning & Napier, Inc.

FAQ

What are the latest assets under management for Manning & Napier (MN) as of October 31, 2020?

As of October 31, 2020, Manning & Napier reported assets under management of $18.5 billion.

Why did Manning & Napier's assets under management decrease in October 2020?

The decrease in assets under management was primarily due to lower performance and client redemptions.

How much did Manning & Napier's AUM decrease from September to October 2020?

Manning & Napier's AUM decreased by $700 million from $19.2 billion on September 30 to $18.5 billion on October 31.

Which investment vehicles contributed to Manning & Napier's AUM as of October 2020?

As of October 2020, separate accounts contributed $13.3 billion and mutual funds contributed $5.1 billion to AUM.