Is Manning & Napier Disciplined Value I (MNDFX) a Strong Mutual Fund Pick Right Now?

·4 min read

If you have been looking for Mutual Fund Equity Report funds, a place to start could be Manning & Napier Disciplined Value I (MNDFX). MNDFX carries a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on nine forecasting factors like size, cost, and past performance.

History of Fund/Manager

Manning & Napier is based in Columbus, OH, and is the manager of MNDFX. Manning & Napier Disciplined Value I made its debut in November of 2008, and since then, MNDFX has accumulated about $88.11 million in assets, per the most up-to-date date available. A team of investment professionals is the fund's current manager.


Of course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 9.27%, and it sits in the top third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 8.11%, which places it in the bottom third during this time-frame.

When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. MNDFX's standard deviation over the past three years is 18.45% compared to the category average of 16.42%. Looking at the past 5 years, the fund's standard deviation is 16.97% compared to the category average of 14.69%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

Investors should note that the fund has a 5-year beta of 0.91, so it is likely going to be less volatile than the market at large. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. With a negative alpha of -2.13, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.


Exploring the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is largely on equities that are traded in the United States.

Currently, this mutual fund is holding 90.46% stock in stocks, with an average market capitalization of $148.93 billion. The fund has the heaviest exposure to the following market sectors:

  1. Industrial Cyclical

  2. Technology

  3. Non-Durable

  4. Health

  5. Retail Trade

With turnover at about 56%, this fund makes fewer trades than its comparable peers.


Costs are increasingly important for mutual fund investing, and particularly as competition heats up in this market. And all things being equal, a lower cost product will outperform its otherwise identical counterpart, so taking a closer look at these metrics is key for investors. In terms of fees, MNDFX is a no load fund. It has an expense ratio of 0.52% compared to the category average of 0.99%. Looking at the fund from a cost perspective, MNDFX is actually cheaper than its peers.

While the minimum initial investment for the product is $1 million, investors should also note that there is no minimum for each subsequent investment.

Bottom Line

Overall, Manning & Napier Disciplined Value I ( MNDFX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and lower fees, Manning & Napier Disciplined Value I ( MNDFX ) looks like a good potential choice for investors right now.

Want even more information about MNDFX? Then go over to and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.

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