Manning & Napier Target 2035 Series Class I
MTQIX
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- Manning & Napier Target 2035 Series Class I (MTQIX) is a target date collective investment trust (CIT) fund managed by Manning & Napier Advisors, LLC that seeks long-term capital growth and risk management for investors planning retirement around 2035. The fund achieves its objective through a dynamic asset allocation strategy invested primarily in underlying Manning & Napier Pro-Mix CIT Funds, including the Pro-Mix Extended Term CIT and Pro-Mix Maximum Term CIT; it currently maintains a growth-oriented portfolio with 40%-70% equity exposure diversified across domestic and foreign stocks, alongside substantial fixed income securities and cash equivalents, gradually shifting to more conservative allocations (20%-60% equities in the target year and 13%-47% five years post-target). As of July 2025, the portfolio allocation stands at approximately 53.83% equities, 40.55% fixed income, and 5.63% cash equivalents, with a net expense ratio of 0.69% reflecting contractual fee limitations. Manning & Napier Advisors, LLC, founded in 1970 and headquartered in Fairport (Rochester area), New York, serves as the investment adviser to Exeter Trust Company, trustee of the Manning & Napier CIT Funds; the firm manages a broad range of equity, fixed income, multi-asset, and lifecycle strategies for high-net-worth individuals, institutions, 401(k) plans, pensions, endowments, and third-party advisors primarily in the United States. The Target 2035 Series Class I shares, with CUSIP 302027610 and inception date of August 3, 2012 for the CIT class, are available exclusively within qualified employee benefit plans. In recent years, Manning & Napier, Inc., the former public parent entity, went private through its acquisition by Callodine Group in partnership with East Asset Management, completed on October 21, 2022, enabling enhanced focus on client solutions and growth initiatives. The firm continues to expand its target-date offerings, including the Retirement Target CIT series, with updated 2025 year-end distribution estimates and ongoing adjustments to glide path allocations amid market conditions; no major new partnerships, acquisitions, or product launches specific to MTQIX have been announced in 2024-2025.