Manning & Napier Inc (NYSE:MN) posted preliminary “AUM” as of the close of November 30, 2017 of $25.6 billion versus $26.4 billion at the close of October 31, 2017 and $26.5 billion at the close of September 30, 2017. The company offers an extensive range of investment solutions and different consultative services that complement their investment process.
Established in 1970, Manning & Napier provide non-U.S. and U.S. equity, fixed income, as well as a range of combined asset portfolios, like life cycle funds and exchange-traded fund based portfolios. The company serve a diversified customer base of HNI individuals and institutions, including pension plans, 401(k) plans, endowments, foundations and Taft-Hartley plans. For many of these customers, their relationship progresses beyond investment management and comprises tailored solutions that address major concerns and solve client-specific issues.
Last month, Manning & Napier reported third quarter report for the quarter closed September 30, 2017. Revenue came at $48.8 million as compared to revenue of $63.3 million posted in the same quarter of 2016. It recorded a drop of 5% from revenue posted in the second quarter of 2017. This change in revenue came mainly from changes in average Assets Under Management.
William Manning, the CEO, Co-founder and Chairman of the Board at Manning, expressed that during the third quarter they were able to extend or maintain their relative outperformance benefit for the year for numerous plans across their complex, most notably counting conventional offerings like their Life Cycle and Equity Series and their Disciplined Value, Real Estate and International Discovery offerings.
They are thrilled by the returns they have been able to record so far in 2017 irrespective of the backdrop of low volatility and elevated valuations in an extended bull market. Equally promising has been the encouraging feedback they have got from customers pertaining the broader consultative approach applied to add value for them.