Manning & Napier, a US NY-based investment management firm with $45bn in AUM, recently announced the launch of the Manning & Napier Goal Collective Investment Trust (CIT) Funds, a suite of ten actively managed target-date funds which will invest in a variety of ETFs.

Patrick Cunningham, Chief Executive Officer of Manning & Napier, a US-based investment management firm.

The Manning & Napier Goal CIT Funds provide an opportunity for active management at a lower cost structure while maintaining diversification of asset classes, market sectors, and securities through ETFs.

The Manning & Napier Goal CIT Funds range from an Income fund to a 2055 fund and will be built using an active asset allocation approach. The active approach allows for flexibility to shift portfolio assets away from over-valued sectors and towards areas of lower risk.

“Manning & Napier Advisors was offering active life-cycle solutions long before the market recognised the value of such products,” said Patrick Cunningham, Chief Executive Officer. “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. We consider these to be a logical extension of our current offerings that utilise a flexible glide range, which enables both age-based and environment-based adjustments over time.”

The Manning & Napier Goal CIT Funds will be offered with an expense ratio of 0.34%, excluding ETFs fees.

“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,” added Cunningham.