Don't Count These Allocation Funds Out
Despite manager departures and restructuring, the Bronze-rated Manning & Napier Pro-Blend funds have a deep senior leadership team that will stay true to the firm's long-standing, successful process.
Jeff Holt: In early April, we downgraded the [Morningstar Analyst Rating] for the four Manning & Napier Pro-Blend funds to Bronze from Gold, following the departure of two portfolio managers and the restructuring of the research team. These changes coincide with a rough patch of performance for the funds over the past year.
While the downgrade reflects heightened uncertainty going forward, there is still good reason for investors to stay the course. Manning & Napier has a deep senior leadership team that can be expected to stay true to the firm's long-standing, successful process. And that process remains focused on absolute returns and flexibility.
Jeff Holt does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.