Manning & Napier, Inc. Reports November 30, 2020 Assets Under Management
Rhea-AI Summary
On December 10, 2020, Manning & Napier (NYSE: MN) reported a significant increase in preliminary assets under management (AUM), rising to $19.9 billion as of November 30, 2020, compared to $18.5 billion at the end of October and $19.2 billion at the end of September 2020. The AUM growth was driven by separate accounts amounting to $14.3 billion and mutual funds totaling $5.6 billion. Manning & Napier continues to provide diverse investment solutions to high-net-worth individuals and institutions.
Positive
- Assets under management increased to $19.9 billion as of November 30, 2020, up from $18.5 billion at October 31, 2020.
- Growth in separate accounts to $14.3 billion.
- Continued strong performance in mutual funds with $5.6 billion in assets.
Negative
- None.
News Market Reaction – MN
On the day this news was published, MN gained 6.26%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAIRPORT, N.Y., Dec. 10, 2020 /PRNewswire/ -- Manning & Napier, Inc. (NYSE: MN), ("Manning & Napier" or "the Company") today reported preliminary assets under management ("AUM") as of November 30, 2020 of
Assets Under Management | |||||||||||
(in millions) | |||||||||||
November 30, | October 31, | September 30, | |||||||||
By investment vehicle: | |||||||||||
Separate accounts | $ | 14,343.9 | $ | 13,317.5 | $ | 13,626.7 | |||||
Mutual funds and collective | 5,557.2 | 5,138.2 | 5,618.4 | ||||||||
Total | $ | 19,901.1 | $ | 18,455.7 | $ | 19,245.1 | |||||
By portfolio: | |||||||||||
Blended Asset | $ | 13,619.1 | $ | 12,732.4 | $ | 13,367.7 | |||||
Equity | 5,275.7 | 4,729.3 | 4,872.6 | ||||||||
Fixed Income | 1,006.3 | 994.0 | 1,004.8 | ||||||||
Total | $ | 19,901.1 | $ | 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
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SOURCE Manning & Napier, Inc.