Target 2060 Series Class K Fund Facts Ticker CUSIP MTKKX 56382R779 Inception Date 09/21/2015 Fund Manager Team Approach Investment Minimum* $2,000 Before Fee Waiver 10.50% After Fee Waiver** 1.13% *May be waived for certain qualified retirement plans and participants in an automatic investment program. **Includes acquired fund fees and expenses of the underlying Series, and a 12b-1 fee of 0.25%. Up to 0.25% of the 12b-1 fee is available as a shareholder servicing fee. Reflects the Advisor s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated prior to the expiration date (02/28/2026) without the approval of the Fund's Board of Directors. Investment Objective To provide capital growth and manage risk for investors planning to retire (or meet another investment goal) in or around the year indicated in the fund s name. Investment Strategy Currently: The portfolio is currently invested in an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets, with only a minor portion of the portfolio invested in fixed income securities. Stock exposure can range from 70% - 95%. Over Time: The portfolio s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%. May be Appropriate for Investors: -Who plan to stop contributions and start periodic withdrawals around the year 2060 About Target Date Funds A target date fund is a single investment portfolio designed to meet an investor s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor s changing time horizon. Manning & Napier's Glide Range Target date funds follow a "glide path" to gradually decrease the fund's stock exposure as the target year approaches. Our glide path incorporates asset allocation ranges which allow us to proactively adjust the portfolio's stock exposure within specific ranges as the fund moves along the glide path. The mix of investments within the portfolio is not only determined by the amount of time to the target date, but also by the risks and opportunities in the current market environment. Stock exposure will typically be higher when our analysis shows markets are less expensive and economic factors are favorable, and lower in high risk environments when stock markets are overvalued. Portfolio Composition¹ (as of 06/30/2017) Detailed Asset Class Allocation (Due to rounding, totals may not equal the sum of each category.) Stocks 89.95% Bonds 7.04% International Equities 31.54% Long Term Fixed Income 1.78% Small Capitalization 0.89% Intermediate Term Fixed Income 4.53% Mid Capitalization 6.24% Short Term Fixed Income 0.73% Large Capitalization 51.28% Cash 3.01% Top Ten Investments Total Holdings: 387 FACEBOOK INC -A 2.32% VISA INC - CLASS A SHARES 1.88% SERVICENOW INC 2.22% MONSANTO CO 1.62% MEDTRONIC INC 2.18% DIAGEO PLC 1.61% PRICELINE GROUP INC 1.96% PERRIGO CO PLC 1.60% FEDEX CORPORATION 1.91% TWENTY-FIRST CENTURY FOX 1.58% - Who generally have time to withstand market volatility and can accept very significant fluctuations in current account value - Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time ¹Based on the investments of the underlying fund(s): 100% Manning & Napier Fund, Inc. Pro-Blend Maximum Term Series. Investments will change over time and as the target date fund gradually becomes more conservative. Top Ten Investments list is unaudited and excludes cash. FUND-TS60k003.2 (7/17) 1 of 2
Target 2060 Series Class K A Word About Risk Each Manning & Napier Fund, Inc. Target Series is invested in one or two of four proprietary risk-based funds, the Manning & Napier Fund, Inc. Pro-Blend Series, based on the Target Series becoming increasingly conservative over time. Because the underlying funds invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and smallcap/mid-cap risk, as the underlying investments change over time. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals). Annualized Performance (as of 06/30/2017) Target 2060 Series Class K Since Inception (09/21/2015) 2060 Composite Benchmark S&P Target Date 2060 Index+ 10.63% 13.28% 12.32% One Year 13.85% 15.58% 17.07% Year-to-Date 13.18% 8.85% 9.54% Quarter 4.52% 3.33% 3.59% Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted; investors can obtain the most recent month-end performance at or by calling (800) 466-3863. Contact Us For more information about any of the Manning & Napier Fund, Inc. Series, you may obtain a prospectus at or by calling (800) 466-3863. Before investing, carefully consider the objectives, risks, charges and expenses of the investment and read the prospectus carefully as it contains this and other information about the investment company. The Target Composite Benchmark represents the performance of the target date fund s asset classes according to their respective weightings, as adjusted over time to reflect the target date fund s increasingly conservative asset allocations. The following indices are used to calculate the Target Composite Benchmarks: Russell 3000 Index (Russell 3000), MSCI ACWI ex USA Index (ACWIxUS), and Bloomberg Barclays U.S. Aggregate Bond Index (BAB) and/or Bloomberg Barclays U.S. Intermediate Aggregate Bond Index (BIAB). Russell 3000 is an unmanaged index that consists of 3,000 of the largest U.S. companies based on total market capitalization. Index returns are based on a market capitalization-weighted average of relative price changes of the component stocks plus dividends whose reinvestments are compounded daily. Index returns provided by Bloomberg. ACWIxUS is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global developed and emerging markets and consists of 46 developed and emerging market country indices outside the U.S. The Index is denominated in U.S. dollars. The Index returns are net of withholding taxes. They assume daily reinvestment of net dividends thus accounting for any applicable dividend taxation. Index returns provided by Bloomberg. BAB and BIAB are both unmanaged, market value-weighted indices of U.S. domestic investment-grade debt issues, including government, corporate, asset-backed and mortgage-backed securities. BAB includes maturities of one year or more; BIAB includes maturities of greater than one year but less than ten years. BAB and BIAB returns provided by Interactive Data. Indices returns do not reflect any fees or expenses. Returns provided are calculated monthly using a blended allocation. Because the target date fund s asset allocation will vary over time, the composition of the target date portfolio may not match the composition of the comparative Target Composite Benchmark. Mid-month performance is not available for the Composite Benchmark. Performance shown is from the first of the month following the corresponding Fund's inception date. The S&P Target Date Index Series is a series of unmanaged indices that reflect the market consensus for asset allocations for different target date horizons. Asset class weights are established annually and rebalanced monthly. Prior to 02/26/2010, the indices were rebalanced annually. Index returns assume daily reinvestment of dividends. Beginning 06/01/2017, the asset class exposure for each index is represented by indices and returns do not reflect any fees or expenses. Prior to 06/01/2017, the asset class exposure for each index is represented by exchange traded funds (ETFs) and returns are net of ETF expenses. Index returns provided by Bloomberg. S&P Dow Jones Indices LLC, a subsidiary of the McGraw Hill Financial, Inc., is the publisher of various index based data products and services and has licensed certain of its products and services for use by Manning & Napier. All such content Copyright 2017 by S&P Dow Jones Indices LLC and/or its affiliates. All rights reserved. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and none of these parties shall have any liability for any errors, omissions, or interruptions of any index or the data included therein. The Manning & Napier Fund, Inc. is managed by Manning & Napier Advisors, LLC. Manning & Napier Investor Services, Inc., an affiliate of Manning & Napier Advisors, LLC, is the distributor of the Fund shares. FUND-TS60k003.2 (7/17) 2 of 2
Target 2050 Series Class K Fund Facts Ticker CUSIP MTYKX 56382P849 Inception Date 03/28/2008 Fund Manager Team Approach Investment Minimum* $2,000 Before Fee Waiver 1.50% After Fee Waiver** 1.13% *May be waived for certain qualified retirement plans and participants in an automatic investment program. **Includes acquired fund fees and expenses of the underlying Series, and a 12b-1 fee of 0.25%. Up to 0.25% of the 12b-1 fee is available as a shareholder servicing fee. Reflects the Advisor s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated prior to the expiration date (02/28/2020) without the approval of the Fund s Board of Directors. Investment Objective To provide capital growth and manage risk for investors planning to retire (or meet another investment goal) in or around the year indicated in the fund s name. Investment Strategy Currently: The portfolio is currently invested in an aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets, with only a minor portion of the portfolio invested in fixed income securities. Stock exposure can range from 70% - 95%. Over Time: The portfolio s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%. May be Appropriate for Investors: - Who plan to stop contributions and start periodic withdrawals around the year 2050 About Target Date Funds A target date fund is a single investment portfolio designed to meet an investor s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor s changing time horizon. Manning & Napier's Glide Range Target date funds follow a "glide path" to gradually decrease the fund's stock exposure as the target year approaches. Our glide path incorporates asset allocation ranges which allow us to proactively adjust the portfolio's stock exposure within specific ranges as the fund moves along the glide path. The mix of investments within the portfolio is not only determined by the amount of time to the target date, but also by the risks and opportunities in the current market environment. Stock exposure will typically be higher when our analysis shows markets are less expensive and economic factors are favorable, and lower in high risk environments when stock markets are overvalued. Portfolio Composition¹ (as of 06/30/2017) Detailed Asset Class Allocation (Due to rounding, totals may not equal the sum of each category.) Stocks 89.95% Bonds 7.04% International Equities 31.54% Long Term Fixed Income 1.78% Small Capitalization 0.89% Intermediate Term Fixed Income 4.53% Mid Capitalization 6.24% Short Term Fixed Income 0.73% Large Capitalization 51.28% Cash 3.01% Top Ten Investments Total Holdings: 387 FACEBOOK INC -A 2.32% VISA INC - CLASS A SHARES 1.88% SERVICENOW INC 2.22% MONSANTO CO 1.62% MEDTRONIC INC 2.18% DIAGEO PLC 1.61% PRICELINE GROUP INC 1.96% PERRIGO CO PLC 1.60% FEDEX CORPORATION 1.91% TWENTY-FIRST CENTURY FOX 1.58% - Who generally have time to withstand market volatility and can accept very significant fluctuations in current account value - Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time ¹Based on the investments of the underlying fund(s): 100% Manning & Napier Fund, Inc. Pro-Blend Maximum Term Series. Investments will change over time and as the target date fund gradually becomes more conservative. Top Ten Investments list is unaudited and excludes cash. FUND-TS50k003.2 (7/17) 1 of 2
Target 2050 Series Class K A Word About Risk Each Manning & Napier Fund, Inc. Target Series is invested in one or two of four proprietary risk-based funds, the Manning & Napier Fund, Inc. Pro-Blend Series, based on the Target Series becoming increasingly conservative over time. Because the underlying funds invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and smallcap/mid-cap risk, as the underlying investments change over time. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals). Annualized Performance (as of 06/30/2017) Target 2050 Series Class K Since Inception (03/28/2008) 2050 Composite Benchmark S&P Target Date 2050 Index 6.71% 7.02% 6.69% Five Year 10.34% 10.96% 11.16% Three Year 3.00% 6.31% 5.96% One Year 13.98% 15.58% 16.24% Year-to-Date 13.35% 8.85% 9.25% Quarter 4.48% 3.33% 3.54% Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted; investors can obtain the most recent month-end performance at or by calling (800) 466-3863. Contact Us For more information about any of the Manning & Napier Fund, Inc. Series, you may obtain a prospectus at or by calling (800) 466-3863. Before investing, carefully consider the objectives, risks, charges and expenses of the investment and read the prospectus carefully as it contains this and other information about the investment company. The Target Composite Benchmark represents the performance of the target date fund s asset classes according to their respective weightings, as adjusted over time to reflect the target date fund s increasingly conservative asset allocations. The following indices are used to calculate the Target Composite Benchmarks: Russell 3000 Index (Russell 3000), MSCI ACWI ex USA Index (ACWIxUS), and Bloomberg Barclays U.S. Aggregate Bond Index (BAB) and/or Bloomberg Barclays U.S. Intermediate Aggregate Bond Index (BIAB). Russell 3000 is an unmanaged index that consists of 3,000 of the largest U.S. companies based on total market capitalization. Index returns are based on a market capitalization-weighted average of relative price changes of the component stocks plus dividends whose reinvestments are compounded daily. Index returns provided by Bloomberg. ACWIxUS is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global developed and emerging markets and consists of 46 developed and emerging market country indices outside the U.S. The Index is denominated in U.S. dollars. The Index returns are net of withholding taxes. They assume daily reinvestment of net dividends thus accounting for any applicable dividend taxation. Index returns provided by Bloomberg. BAB and BIAB are both unmanaged, market value-weighted indices of U.S. domestic investment-grade debt issues, including government, corporate, asset-backed and mortgage-backed securities. BAB includes maturities of one year or more; BIAB includes maturities of greater than one year but less than ten years. BAB and BIAB returns provided by Interactive Data. Indices returns do not reflect any fees or expenses. Returns provided are calculated monthly using a blended allocation. Because the target date fund s asset allocation will vary over time, the composition of the target date portfolio may not match the composition of the comparative Target Composite Benchmark. Mid-month performance is not available for the Composite Benchmark. Performance shown is from the first of the month following the corresponding Fund's inception date. The S&P Target Date Index Series is a series of unmanaged indices that reflect the market consensus for asset allocations for different target date horizons. Asset class weights are established annually and rebalanced monthly. Prior to 02/26/2010, the indices were rebalanced annually. Historical returns for the S&P Target Date 2050 Index prior to 05/31/2011 (the index launch date) are identical to the returns of the S&P Target Date 2045 Index, the closest dated target date index as of the launch date. Index returns assume daily reinvestment of dividends. Beginning 06/01/2017, the asset class exposure for each index is represented by indices and returns do not reflect any fees or expenses. Prior to 06/01/2017, the asset class exposure for each index is represented by exchange traded funds (ETFs) and returns are net of ETF expenses. Index returns provided by Bloomberg. S&P Dow Jones Indices LLC, a subsidiary of the McGraw Hill Financial, Inc., is the publisher of various index based data products and services and has licensed certain of its products and services for use by Manning & Napier. All such content Copyright 2017 by S&P Dow Jones Indices LLC and/or its affiliates. All rights reserved. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and none of these parties shall have any liability for any errors, omissions, or interruptions of any index or the data included therein. The Manning & Napier Fund, Inc. is managed by Manning & Napier Advisors, LLC. Manning & Napier Investor Services, Inc., an affiliate of Manning & Napier Advisors, LLC, is the distributor of the Fund shares. FUND-TS50k003.2 (7/17) 2 of 2
Target 2040 Series Class K Fund Facts Ticker CUSIP MTTKX 56382P856 Inception Date 03/28/2008 Fund Manager Team Approach Investment Minimum* $2,000 Before Fee Waiver 1.23% After Fee Waiver** 1.13% *May be waived for certain qualified retirement plans and participants in an automatic investment program. **Includes acquired fund fees and expenses of the underlying Series, and a 12b-1 fee of 0.25%. Up to 0.25% of the 12b-1 fee is available as a shareholder servicing fee. Reflects the Advisor s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated prior to the expiration date (02/28/2020) without the approval of the Fund s Board of Directors. Investment Objective To provide capital growth and manage risk for investors planning to retire (or meet another investment goal) in or around the year indicated in the fund s name. Investment Strategy Currently: The portfolio is currently invested in a moderately aggressive, growth-oriented mix of securities that seeks to earn the long-term growth typically associated with the stock market without full market risk. The portfolio is diversified primarily among various stock investments in both domestic and foreign markets, with a portion of the portfolio invested in fixed income securities. Stock exposure can range from 59% - 88%. Over Time:The portfolio s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%. May be Appropriate for Investors: - Who plan to stop contributions and start periodic withdrawals around the year 2040 About Target Date Funds A target date fund is a single investment portfolio designed to meet an investor s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor s changing time horizon. Manning & Napier's Glide Range Target date funds follow a "glide path" to gradually decrease the fund's stock exposure as the target year approaches. Our glide path incorporates asset allocation ranges which allow us to proactively adjust the portfolio's stock exposure within specific ranges as the fund moves along the glide path. The mix of investments within the portfolio is not only determined by the amount of time to the target date, but also by the risks and opportunities in the current market environment. Stock exposure will typically be higher when our analysis shows markets are less expensive and economic factors are favorable, and lower in high risk environments when stock markets are overvalued. Portfolio Composition¹ (as of 06/30/2017) Detailed Asset Class Allocation (Due to rounding, totals may not equal the sum of each category.) Stocks 76.23% Bonds 21.20% International Equities 26.30% Long Term Fixed Income 4.04% Small Capitalization 0.73% Intermediate Term Fixed Income 15.21% Mid Capitalization 5.17% Short Term Fixed Income 1.94% Large Capitalization 44.04% Cash 2.57% Top Ten Investments Total Holdings: 556 TREASURY NOTES 4.81% MEDTRONIC INC 1.91% GOVERNMENT AGENCY 2.74% PRICELINE GROUP INC 1.91% FACEBOOK INC -A 2.22% VISA INC - CLASS A SHARES 1.62% SERVICENOW INC 2.16% FEDEX CORPORATION 1.62% TREASURY BONDS 2.09% MONSANTO CO 1.59% - Who have time to pursue growth and can accept significant fluctuations in current account value - Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time ¹Based on the investments of the underlying fund(s): 65% Manning & Napier Fund, Inc. Pro-Blend Maximum Term Series and 35% Manning & Napier Fund, Inc. Pro-Blend Extended Term Series. Investments will change over time and as the target date fund gradually becomes more conservative. Top Ten Investments list is unaudited and excludes cash. FUND-TS40k003.2 (7/17) 1 of 2
Target 2040 Series Class K A Word About Risk Each Manning & Napier Fund, Inc. Target Series is invested in one or two of four proprietary risk-based funds, the Manning & Napier Fund, Inc. Pro-Blend Series, based on the Target Series becoming increasingly conservative over time. Because the underlying funds invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and smallcap/mid-cap risk, as the underlying investments change over time. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals). Annualized Performance (as of 06/30/2017) Target 2040 Series Class K Since Inception (03/28/2008) 2040 Composite Benchmark S&P Target Date 2040 Index 6.15% 6.73% 6.51% Five Year 9.69% 10.41% 10.47% Three Year 2.46% 5.93% 5.66% One Year 12.36% 13.89% 14.77% Year-to-Date 11.91% 8.14% 8.60% Quarter 3.96% 3.13% 3.36% Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted; investors can obtain the most recent month-end performance at or by calling (800) 466-3863. Contact Us For more information about any of the Manning & Napier Fund, Inc. Series, you may obtain a prospectus at or by calling (800) 466-3863. Before investing, carefully consider the objectives, risks, charges and expenses of the investment and read the prospectus carefully as it contains this and other information about the investment company. The Target Composite Benchmark represents the performance of the target date fund s asset classes according to their respective weightings, as adjusted over time to reflect the target date fund s increasingly conservative asset allocations. The following indices are used to calculate the Target Composite Benchmarks: Russell 3000 Index (Russell 3000), MSCI ACWI ex USA Index (ACWIxUS), and Bloomberg Barclays U.S. Aggregate Bond Index (BAB) and/or Bloomberg Barclays U.S. Intermediate Aggregate Bond Index (BIAB). Russell 3000 is an unmanaged index that consists of 3,000 of the largest U.S. companies based on total market capitalization. Index returns are based on a market capitalization-weighted average of relative price changes of the component stocks plus dividends whose reinvestments are compounded daily. Index returns provided by Bloomberg. ACWIxUS is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global developed and emerging markets and consists of 46 developed and emerging market country indices outside the U.S. The Index is denominated in U.S. dollars. The Index returns are net of withholding taxes. They assume daily reinvestment of net dividends thus accounting for any applicable dividend taxation. Index returns provided by Bloomberg. BAB and BIAB are both unmanaged, market value-weighted indices of U.S. domestic investment-grade debt issues, including government, corporate, asset-backed and mortgage-backed securities. BAB includes maturities of one year or more; BIAB includes maturities of greater than one year but less than ten years. BAB and BIAB returns provided by Interactive Data. Indices returns do not reflect any fees or expenses. Returns provided are calculated monthly using a blended allocation. Because the target date fund s asset allocation will vary over time, the composition of the target date portfolio may not match the composition of the comparative Target Composite Benchmark. Mid-month performance is not available for the Composite Benchmark. Performance shown is from the first of the month following the corresponding Fund's inception date. The S&P Target Date Index Series is a series of unmanaged indices that reflect the market consensus for asset allocations for different target date horizons. Asset class weights are established annually and rebalanced monthly. Prior to 02/26/2010, the indices were rebalanced annually. Index returns assume daily reinvestment of dividends. Beginning 06/01/2017, the asset class exposure for each index is represented by indices and returns do not reflect any fees or expenses. Prior to 06/01/2017, the asset class exposure for each index is represented by exchange traded funds (ETFs) and returns are net of ETF expenses. Index returns provided by Bloomberg. S&P Dow Jones Indices LLC, a subsidiary of the McGraw Hill Financial, Inc., is the publisher of various index based data products and services and has licensed certain of its products and services for use by Manning & Napier. All such content Copyright 2017 by S&P Dow Jones Indices LLC and/or its affiliates. All rights reserved. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and none of these parties shall have any liability for any errors, omissions, or interruptions of any index or the data included therein. The Manning & Napier Fund, Inc. is managed by Manning & Napier Advisors, LLC. Manning & Napier Investor Services, Inc., an affiliate of Manning & Napier Advisors, LLC, is the distributor of the Fund shares. FUND-TS40k003.2 (7/17) 2 of 2
Target 2030 Series Class K Fund Facts Ticker CUSIP MTPKX 56382P864 Inception Date 03/28/2008 Fund Manager Team Approach Investment Minimum* $2,000 Before Fee Waiver 1.18% After Fee Waiver** 1.12% *May be waived for certain qualified retirement plans and participants in an automatic investment program. **Includes acquired fund fees and expenses of the underlying Series, and a 12b-1 fee of 0.25%. Up to 0.25% of the 12b-1 fee is available as a shareholder servicing fee. Reflects the Advisor s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated prior to the expiration date (02/28/2020) without the approval of the Fund s Board of Directors. Investment Objective To provide capital growth and manage risk for investors planning to retire (or meet another investment goal) in or around the year indicated in the fund s name. Investment Strategy Currently: The portfolio is currently invested in a moderately growth-oriented mix of securities that seeks potential for growth with some stability. The portfolio is diversified among various stock investments and fixed income securities, which will typically be intermediate to long-term maturities. Stock exposure can range from 38% - 74%. Over Time: The portfolio s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%. May be Appropriate for Investors: - Who plan to stop contributions and start periodic withdrawals around the year 2030 - Who have some time to pursue growth and can accept fluctuations in current account value About Target Date Funds A target date fund is a single investment portfolio designed to meet an investor s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor s changing time horizon. Manning & Napier's Glide Range Target date funds follow a "glide path" to gradually decrease the fund's stock exposure as the target year approaches. Our glide path incorporates asset allocation ranges which allow us to proactively adjust the portfolio's stock exposure within specific ranges as the fund moves along the glide path. The mix of investments within the portfolio is not only determined by the amount of time to the target date, but also by the risks and opportunities in the current market environment. Stock exposure will typically be higher when our analysis shows markets are less expensive and economic factors are favorable, and lower in high risk environments when stock markets are overvalued. Portfolio Composition¹ (as of 06/30/2017) Detailed Asset Class Allocation (Due to rounding, totals may not equal the sum of each category.) Stocks 55.78% Bonds 42.31% International Equities 18.48% Long Term Fixed Income 7.42% Small Capitalization 0.50% Intermediate Term Fixed Income 31.14% Mid Capitalization 3.57% Short Term Fixed Income 3.75% Large Capitalization 33.23% Cash 1.91% Top Ten Investments Total Holdings: 556 TREASURY NOTES 10.58% PRICELINE GROUP INC 1.83% GOVERNMENT AGENCY 6.79% MONSANTO CO 1.56% TREASURY BONDS 3.12% MEDTRONIC INC 1.51% SERVICENOW INC 2.08% NOVARTIS AG- REG 1.50% FACEBOOK INC -A 2.07% TWENTY-FIRST CENTURY FOX 1.43% - Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time ¹Based on the investments of the underlying fund(s): 15% Manning & Napier Fund, Inc. Pro-Blend Maximum Term Series and 85% Manning & Napier Fund, Inc. Pro-Blend Extended Term Series. Investments will change over time and as the target date fund gradually becomes more conservative. Top Ten Investments list is unaudited and excludes cash. FUND-TS30k003.2 (7/17) 1 of 2
Target 2030 Series Class K A Word About Risk Each Manning & Napier Fund, Inc. Target Series is invested in one or two of four proprietary risk-based funds, the Manning & Napier Fund, Inc. Pro-Blend Series, based on the Target Series becoming increasingly conservative over time. Because the underlying funds invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and smallcap/mid-cap risk, as the underlying investments change over time. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals). Annualized Performance (as of 06/30/2017) Target 2030 Series Class K Since Inception (03/28/2008) 2030 Composite Benchmark S&P Target Date 2030 Index 5.71% 6.08% 6.19% Five Year 8.05% 8.78% 9.41% Three Year 1.80% 5.15% 5.16% One Year 9.95% 10.40% 12.55% Year-to-Date 9.79% 6.67% 7.59% Quarter 3.10% 2.71% 3.01% Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted; investors can obtain the most recent month-end performance at or by calling (800) 466-3863. Contact Us For more information about any of the Manning & Napier Fund, Inc. Series, you may obtain a prospectus at or by calling (800) 466-3863. Before investing, carefully consider the objectives, risks, charges and expenses of the investment and read the prospectus carefully as it contains this and other information about the investment company. The Target Composite Benchmark represents the performance of the target date fund s asset classes according to their respective weightings, as adjusted over time to reflect the target date fund s increasingly conservative asset allocations. The following indices are used to calculate the Target Composite Benchmarks: Russell 3000 Index (Russell 3000), MSCI ACWI ex USA Index (ACWIxUS), and Bloomberg Barclays U.S. Aggregate Bond Index (BAB) and/or Bloomberg Barclays U.S. Intermediate Aggregate Bond Index (BIAB). Russell 3000 is an unmanaged index that consists of 3,000 of the largest U.S. companies based on total market capitalization. Index returns are based on a market capitalization-weighted average of relative price changes of the component stocks plus dividends whose reinvestments are compounded daily. Index returns provided by Bloomberg. ACWIxUS is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global developed and emerging markets and consists of 46 developed and emerging market country indices outside the U.S. The Index is denominated in U.S. dollars. The Index returns are net of withholding taxes. They assume daily reinvestment of net dividends thus accounting for any applicable dividend taxation. Index returns provided by Bloomberg. BAB and BIAB are both unmanaged, market value-weighted indices of U.S. domestic investment-grade debt issues, including government, corporate, asset-backed and mortgage-backed securities. BAB includes maturities of one year or more; BIAB includes maturities of greater than one year but less than ten years. BAB and BIAB returns provided by Interactive Data. Indices returns do not reflect any fees or expenses. Returns provided are calculated monthly using a blended allocation. Because the target date fund s asset allocation will vary over time, the composition of the target date portfolio may not match the composition of the comparative Target Composite Benchmark. Mid-month performance is not available for the Composite Benchmark. Performance shown is from the first of the month following the corresponding Fund's inception date. The S&P Target Date Index Series is a series of unmanaged indices that reflect the market consensus for asset allocations for different target date horizons. Asset class weights are established annually and rebalanced monthly. Prior to 02/26/2010, the indices were rebalanced annually. Index returns assume daily reinvestment of dividends. Beginning 06/01/2017, the asset class exposure for each index is represented by indices and returns do not reflect any fees or expenses. Prior to 06/01/2017, the asset class exposure for each index is represented by exchange traded funds (ETFs) and returns are net of ETF expenses. Index returns provided by Bloomberg. S&P Dow Jones Indices LLC, a subsidiary of the McGraw Hill Financial, Inc., is the publisher of various index based data products and services and has licensed certain of its products and services for use by Manning & Napier. All such content Copyright 2017 by S&P Dow Jones Indices LLC and/or its affiliates. All rights reserved. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and none of these parties shall have any liability for any errors, omissions, or interruptions of any index or the data included therein. The Manning & Napier Fund, Inc. is managed by Manning & Napier Advisors, LLC. Manning & Napier Investor Services, Inc., an affiliate of Manning & Napier Advisors, LLC, is the distributor of the Fund shares. FUND-TS30k003.2 (7/17) 2 of 2
Target 2020 Series Class K Fund Facts Ticker CUSIP MTNKX 56382P872 Inception Date 03/28/2008 Fund Manager Team Approach Investment Minimum* $2,000 Before Fee Waiver 1.18% After Fee Waiver** 1.12% *May be waived for certain qualified retirement plans and participants in an automatic investment program. **Includes acquired fund fees and expenses of the underlying Series, and a 12b-1 fee of 0.25%. Up to 0.25% of the 12b-1 fee is available as a shareholder servicing fee. Reflects the Advisor s contractual agreement to limit its fees and reimburse certain expenses. The contractual waiver may not be amended or terminated prior to the expiration date (02/28/2020) without the approval of the Fund s Board of Directors. Investment Objective To provide capital growth and manage risk for investors planning to retire (or meet another investment goal) in or around the year indicated in the fund s name. Investment Strategy Currently: The portfolio is currently invested in a balanced mix of securities that seeks a more stable rate of long-term growth than that of the broad stock market. The portfolio is diversified among fixed income securities, primarily with intermediate to long-term maturities, and various stocks. Stock exposure can range from 23% - 63%. Over Time: The portfolio s investment mix will gradually become more conservative as the target date approaches and for several years after the target date. During the target year, the portfolio s stock exposure can range from 20% - 60%. At five years after the target date and beyond, the focus will be on capital preservation, and stock exposure can range from 15% - 45%. May be Appropriate for Investors: - Who plan to stop contributions and start periodic withdrawals around the year 2020 - Who currently have a moderate tolerance for risk and can accept fluctuations in current account value About Target Date Funds A target date fund is a single investment portfolio designed to meet an investor s changing needs over time. The fund gradually shifts from a more aggressive to a more conservative investment objective over the years to reflect an appropriate risk/return trade-off for the investor s changing time horizon. Manning & Napier's Glide Range Target date funds follow a "glide path" to gradually decrease the fund's stock exposure as the target year approaches. Our glide path incorporates asset allocation ranges which allow us to proactively adjust the portfolio's stock exposure within specific ranges as the fund moves along the glide path. The mix of investments within the portfolio is not only determined by the amount of time to the target date, but also by the risks and opportunities in the current market environment. Stock exposure will typically be higher when our analysis shows markets are less expensive and economic factors are favorable, and lower in high risk environments when stock markets are overvalued. Portfolio Composition¹ (as of 06/30/2017) Detailed Asset Class Allocation (Due to rounding, totals may not equal the sum of each category.) Stocks 39.07% Bonds 59.39% International Equities 12.53% Long Term Fixed Income 9.89% Small Capitalization 0.38% Intermediate Term Fixed Income 42.32% Mid Capitalization 2.48% Short Term Fixed Income 7.18% Large Capitalization 23.68% Cash 1.54% Top Ten Investments Total Holdings: 563 TREASURY NOTES 15.48% PRICELINE GROUP INC 1.42% GOVERNMENT AGENCY 9.25% MONSANTO CO 1.22% TREASURY BONDS 3.49% NOVARTIS AG- REG 1.18% SERVICENOW INC 1.62% TWENTY-FIRST CENTURY FOX 1.13% FACEBOOK INC -A 1.59% MEDTRONIC INC 1.12% - Who prefer to take advantage of professional management through a single, diversified investment portfolio that becomes more conservative over time ¹Based on the investments of the underlying fund(s): 15% Manning & Napier Fund, Inc. Pro-Blend Extended Term Series and 85% Manning & Napier Fund, Inc. Pro-Blend Moderate Term Series. Investments will change over time and as the target date fund gradually becomes more conservative. Top Ten Investments list is unaudited and excludes cash. FUND-TS20k003.2 (7/17) 1 of 2
Target 2020 Series Class K A Word About Risk Each Manning & Napier Fund, Inc. Target Series is invested in one or two of four proprietary risk-based funds, the Manning & Napier Fund, Inc. Pro-Blend Series, based on the Target Series becoming increasingly conservative over time. Because the underlying funds invest in both stocks and bonds, the value of your investment will fluctuate in response to stock market movements and changes in interest rates. Investing in target date funds will also involve a number of other risks, including issuer-specific risk, foreign investment risk, and smallcap/mid-cap risk, as the underlying investments change over time. Investments in options and futures, like all derivatives, can be highly volatile and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. Also, the use of leverage increases exposure to the market and may magnify potential losses. Principal value is not guaranteed at any time, including at the target date (the approximate year when an investor plans to stop contributions and start periodic withdrawals). Annualized Performance (as of 06/30/2017) Target 2020 Series Class K Since Inception (03/28/2008) 2020 Composite Benchmark S&P Target Date 2020 Index 4.98% 5.68% 5.71% Five Year 6.15% 7.07% 7.91% Three Year 1.21% 4.56% 4.58% One Year 7.40% 7.80% 9.84% Year-to-Date 7.68% 5.65% 6.32% Quarter 2.48% 2.42% 2.55% Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate, so that an investor s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than that quoted; investors can obtain the most recent month-end performance at or by calling (800) 466-3863. Contact Us For more information about any of the Manning & Napier Fund, Inc. Series, you may obtain a prospectus at or by calling (800) 466-3863. Before investing, carefully consider the objectives, risks, charges and expenses of the investment and read the prospectus carefully as it contains this and other information about the investment company. The Target Composite Benchmark represents the performance of the target date fund s asset classes according to their respective weightings, as adjusted over time to reflect the target date fund s increasingly conservative asset allocations. The following indices are used to calculate the Target Composite Benchmarks: Russell 3000 Index (Russell 3000), MSCI ACWI ex USA Index (ACWIxUS), and Bloomberg Barclays U.S. Aggregate Bond Index (BAB) and/or Bloomberg Barclays U.S. Intermediate Aggregate Bond Index (BIAB). Russell 3000 is an unmanaged index that consists of 3,000 of the largest U.S. companies based on total market capitalization. Index returns are based on a market capitalization-weighted average of relative price changes of the component stocks plus dividends whose reinvestments are compounded daily. Index returns provided by Bloomberg. ACWIxUS is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global developed and emerging markets and consists of 46 developed and emerging market country indices outside the U.S. The Index is denominated in U.S. dollars. The Index returns are net of withholding taxes. They assume daily reinvestment of net dividends thus accounting for any applicable dividend taxation. Index returns provided by Bloomberg. BAB and BIAB are both unmanaged, market value-weighted indices of U.S. domestic investment-grade debt issues, including government, corporate, asset-backed and mortgage-backed securities. BAB includes maturities of one year or more; BIAB includes maturities of greater than one year but less than ten years. BAB and BIAB returns provided by Interactive Data. Indices returns do not reflect any fees or expenses. Returns provided are calculated monthly using a blended allocation. Because the target date fund s asset allocation will vary over time, the composition of the target date portfolio may not match the composition of the comparative Target Composite Benchmark. Mid-month performance is not available for the Composite Benchmark. Performance shown is from the first of the month following the corresponding Fund's inception date. The S&P Target Date Index Series is a series of unmanaged indices that reflect the market consensus for asset allocations for different target date horizons. Asset class weights are established annually and rebalanced monthly. Prior to 02/26/2010, the indices were rebalanced annually. Index returns assume daily reinvestment of dividends. Beginning 06/01/2017, the asset class exposure for each index is represented by indices and returns do not reflect any fees or expenses. Prior to 06/01/2017, the asset class exposure for each index is represented by exchange traded funds (ETFs) and returns are net of ETF expenses. Index returns provided by Bloomberg. S&P Dow Jones Indices LLC, a subsidiary of the McGraw Hill Financial, Inc., is the publisher of various index based data products and services and has licensed certain of its products and services for use by Manning & Napier. All such content Copyright 2017 by S&P Dow Jones Indices LLC and/or its affiliates. All rights reserved. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and none of these parties shall have any liability for any errors, omissions, or interruptions of any index or the data included therein. The Manning & Napier Fund, Inc. is managed by Manning & Napier Advisors, LLC. Manning & Napier Investor Services, Inc., an affiliate of Manning & Napier Advisors, LLC, is the distributor of the Fund shares. FUND-TS20k003.2 (7/17) 2 of 2