Manning & Napier Core Bond Series Class S
EXCRX
NASDAQ- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 290 Woodcliff Drive Fairport NY United States of America 14450
- IPO Date
- Apr 28, 2005
- CIK
- 0000751173
- Website
- am.manning-napier.com
- Similar Companies
- Business
- Manning & Napier Core Bond Series Class S (EXCRX) is an open-end mutual fund that seeks long-term total return through investment primarily in fixed income securities. Under normal circumstances, at least 80% of its net assets invests in investment-grade bonds and other financial instruments with similar economic characteristics, including U.S. dollar-denominated holdings across U.S. Treasuries (approximately 41% allocation), corporate credit (23%), mortgages (21%), securitized credit (14%), and cash equivalents; the fund maintains no maturity or duration restrictions and features an average effective duration of 5.96 years and 196 holdings as of November 2025. It targets intermediate core bond investors seeking high-quality, objectives-driven active management for portfolio diversification, with a net expense ratio of 0.70%, minimum initial investment of $2,000, and availability to U.S. investors through daily pricing. The Class S share class, with ticker EXCRX and CUSIP 563821404, launched on April 21, 2005, managing total net assets of approximately $644 million alongside its institutional counterpart. Managed by Manning & Napier Advisors, LLC—a subsidiary of Callodine Group—since the firm's founding in 1970 and headquartered in Fairport, New York, the fund operates within the intermediate core bond segment, serving high-net-worth individuals, institutions, retirement plans, and endowments with a focus on U.S.-centric fixed income exposure. Portfolio managers R. Keith Harwood (since inception), Marc Bushallow (since 2008), and Brad Cronister (since 2021) oversee allocations emphasizing credit quality (AA-rated at 60%, A at 15%, BBB at 11%) and sectors like government (38%), corporate bonds, agency mortgage-backed securities, and asset-backed instruments. The fund demonstrates moderate interest-rate sensitivity and mid-credit quality, positioning it for investors prioritizing total return over benchmark replication. In October 2022, Manning & Napier, Inc. completed its go-private acquisition by Callodine Group in partnership with East Asset Management, enhancing capital resources, long-term stability, and investment capabilities while retaining the existing management team, investment philosophy, and client operations under CEO Marc Mayer. This strategic shift supported ongoing growth in fixed income and multi-asset strategies without disrupting funds like EXCRX, which continued to report year-to-date returns of 7.22% and one-year returns of 5.38% as of November 30, 2025. No major fund-specific mergers, new share classes, or product launches for EXCRX occurred in the last 1-2 years, though the firm issued 2025 year-end distribution estimates across its mutual fund lineup in December 2025.