Target 2045 Series
Data updated: 2020-09-25
C000114744 — Target 2045 Series. Target Date / Glide Path Allocation · $30.71M AUM · 1.00% expense ratio. Holdings, fees, performance and SEC filings.
C000114744 Fund Overview
Target 2045 Series is a US mutual fund managed by Manning & Napier Fund, Inc., categorised as Target Date / Glide Path Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Manning & Napier Fund, Inc.
- Category: Target Date / Glide Path Allocation
- Assets under management: $30.71M
- 1-year return: 14.3%
- SEC CIK: 0000751173
- SEC series ID: S000037250
- Share class ID: C000114744
C000114744 Investment Objective and Strategy
Target 2045 Series describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Manning & Napier Fund, Inc..
Investment objective
To provide long-term capital growth and to moderate volatility consistent with its current asset allocation.
Principal investment strategy
The Series seeks to achieve its investment objective by investing in a combination of underlying funds according to a target asset allocation strategy. These underlying funds will pursue asset allocation strategies, and will invest in a combination of equity, fixed income and cash investments. The Series target date (the year in the Series name) is the approximate year when the Series assumes investors will stop making new investments in the Series and start making gradual withdrawals. Accordingly, the Series investment approach is expected to become more conservative over time. Within five years after the target date, the Series asset allocation is expected to closely match that of the Target Income Series. The Series current target allocation among the underlying funds is as follows: Manning & Napier Blended Asset Conservative Series 0% Manning & Napier Blended Asset Moderate Series 0% Manning & Napier Blended Asset Extended Series 15% Manning & Napier Blended Asset Maximum Series 85% The Blended Asset Extended Series and the Blended Asset Maximum Series invest primarily in common stocks and investment grade fixed income securities with long-term maturities of 7 to 20 years.
Both Series may also invest in non-investment grade securities (junk bonds) and in securities of any maturity. Both Series may invest in U.S. and foreign stocks, including those in emerging markets, and American Depository Receipts, of companies with any market capitalization. In the fixed income portions of their portfolios, both Series invest primarily in U.S. Treasury securities, and U.S. and foreign mortgage-backed and asset-backed securities and corporate bonds. There are no prescribed limits on the sector allocations of the Blended Asset Extended Series and the Blended Asset Maximum Series investments and, from time to time, each Series may focus its investments in one or more sectors. The Blended Asset Extended Series and the Blended Asset Maximum Series may also invest in derivative instruments.
They principally write (sell) options on securities, and buy and sell futures contracts based on fixed income securities, interest rates and currencies. In general, the portion of the Series invested in equity investments will decrease and the portion invested in fixed income investments will increase as the Series approaches its target date in accordance with a predetermined glide range. The graph below represents this glide range and illustrates the ranges of equity and fixed income exposures over time as well as the Series position along the glide range as of December 31, 2017. As illustrated below, the Series equity allocation range will continue to be reduced, and the Series fixed income allocation range will continue to be increased, for five years beyond the Series target date. Accordingly, the Series reaches its most conservative range of planned allocation approximately five years after its target date.
At any given time, however, the Series actual asset allocation may be affected by a number of factors, such as the performance of the underlying funds and the size and frequency of purchase and redemption orders. Further, the Advisor may deviate from the target allocation among underlying funds if circumstances warrant a change. These circumstances may include factors affecting the overall economy or financial markets or factors that specifically relate to the underlying funds, their assets or their asset allocation strategies. The Series may also invest directly in equity and fixed income securities and cash equivalents, including money market securities. The Series is designed to provide investors with investment management, asset allocation and ongoing reallocation over time.
C000114744 Performance
Total returns for C000114744 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 14.3% |
C000114744 Risk Information
Risk metrics for C000114744, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 17.4%
C000114744 Costs and Fees
C000114744 costs about $100 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.00%
- Gross expense ratio: 1.82%
- Portfolio turnover: 16%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000114744 Cashflows
Over the 12 months to 2020-07, Target 2045 Series had net inflows of $12.31M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-07 | $2.43M |
| 2020-06 | $659.85K |
| 2020-05 | $429.51K |
| 2020-04 | $306.11K |
| 2020-03 | $1.04M |
| 2020-02 | $676.55K |
C000114744 Debt Constituents
No individual debt constituents are reported in Target 2045 Series's latest SEC N-PORT filing.
C000114744 Prospectus and SEC Filings
Official Target 2045 Series filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2020-03-12
- Prospectus (485BPOS) — filed 2019-03-19
- Prospectus (485BPOS) — filed 2018-03-20
- Portfolio holdings (N-PORT) — filed 2020-09-25
- Portfolio holdings (N-PORT) — filed 2020-06-24
- Portfolio holdings (N-PORT) — filed 2020-03-26
- Annual census (N-CEN) — filed 2020-01-13
- Annual census (N-CEN) — filed 2019-01-11
Related Funds
Other Target Date / Glide Path Allocation funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.