Morningstar® Investment Profile™ | Disclosure Statement Morningstar - Free Trial   Manning & Napier Pro-Blend Cnsrv Term S  EXDAX   Snapshot Total Returns Rating & Risk Portfolio Nuts & Bolts Analyst Report Quote datadef_ratings Manning & Napier Pro-Blend Cnsrv Term S  EXDAX   Morningstar Report Overall Morningstar Rating™ What is this? As of 2009-10-31 Out of Conservative Allocation Funds Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance. Morningstar® Style Box™ What is this?    Large    Growth          Avg Duration    3.97 Yrs    Avg Credit Quality    AA As of 2009-09-30 Day Change $ -0.02    NAV (2009-11-20) $ 12.38    YTD Return % (2009-11-20) 10.45%    Total Assets ($ mil) 440 View Data Definitions   Performance     Growth of $10,000 Fund: Manning & Napier Pro-Blend Cnsrv Term S (from 1999-01-01 to 2009-10-31) Category: Conservative Allocation Index: Morningstar Moderate Target Risk Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-20 Inception date: 1995-11-01 10yr and Inception Returns as of 2009-10-31 YTD Returns as of 2009-11-20 YTD 1 Year 3 Year 5 Year 10 Year Since Inception Fund 10.45 17.18 3.91 5.17 6.07 5.89 +/- Category -6.06 1.26 3.72 2.42 2.87 --- +/- Morningstar Moderate Target Risk -10.12 -13.91 2.75 0.35 --- --- Standardized Annual Returns %   more on standardized returns Quarter-End (as of 2009-09-30) 9.47 6.45 4.39 5.25 6.05 5.97 Month-End (as of 2009-10-31) 8.94 11.83 3.74 5.02 6.07 5.89 After Tax Returns % (as of 2009-09-30 )   On Distribution --- 11.09 2.54 3.91 4.57 --- On Distribution & Sale of Shares --- 7.65 2.58 3.74 4.38 --- Morningstar Rating --- --- --- # of compared funds covered (3 yrs : out of 506 funds), (5 yrs : out of 343 funds), (10 yrs : out of 143 funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is none. The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.   Portfolio Profile     Sector Breakdown % Information 37.44 Software 13.40 Hardware 10.30 Media 5.50 Telecommunications 8.24 Service 38.65 Healthcare 17.07 Consumer Services 4.57 Business Services 11.53 Financial Services 5.48 Manufacturing 23.91 Consumer Goods 12.18 Industrial Materials 4.85 Energy 6.72 Utilities 0.16 Bond Quality % of Bonds AAA 78.4 AA 1.3 A 11.1 BBB 7.3 BB 0.9 B 0.9 Below B 0.2 Not Rated 0.0   Asset Allocation % of Net Assets Cash 12.0 Stocks 23.2 Bonds 64.6 Other 0.2 Foreign Stocks 5.1 (as a % of Assets) Data through 2009-09-30 Data through 2009-09-30 Holding Status Total Number of Stock Holdings 250 Turnover % 45 Total Number of Bond Holdings 241 30 Day SEC Yield % --- % of Assets in Top 10 Holdings 26.99 ending as of 2009-09-30 View Data Definitions Top 10 Holdings Sector P/E YTD Return % % of Net Assets FNMA 1.375% --- --- --- 5.73 US Treasury Note 4% --- --- --- 4.60 Dreyfus Cash Management Instl --- --- --- 4.58 US Treasury Note 4% --- --- --- 2.96 FHLMC 3.75% --- --- --- 2.79 US TREASURY NOTE --- --- 2.02 GENERAL ELEC CAP --- --- 1.83 Citigroup FDIC GTD TLGP 2.88% --- --- 1.82 US Treasury Note 3.625% --- --- 1.80 BANK AMER --- --- 1.75 Data through 2009-09-30 YTD Return through 2009-11-20   Other Information Fund Inception: 1995-11-01 Portfolio Manager  (Start Date) Jeffrey S. Coons  (1995-11-01) No Bio. Jeffrey A. Herrmann  (1995-11-01) Herrmann is a senior analyst, a position he has held since 1988. He joined Manning & Napier Advisors in 1986. Herrmann has been co-director of research and a member of the Senior Research Group since 1992. He has been a member of the Executive Group since 2002. He holds the Charted Financial Analyst designation. Michael J. Magiera  (1995-11-01) Magiera is a senior analyst, a position he has held since 1999. He joined Manning & Napier Advisors in 1988, and has been a member of the Senior Research Group since 1992. He holds the Charted Financial Analyst designation. Marc Tommasi  (1995-11-01) Tommasi is a senior analyst, a position he has held since 1988. He joined Manning & Napier Advisors in 1986. He has been a member of the Senior Research Group since 1992. Christian A. Andreach  (2002-10-18) Andreach is a senior analyst, a position he has held since 1999 when he joined Manning & Napier Advisors. He has been a member of the Senior Research Group since 2002. Brian P. Gambill  (2002-10-18) Gambill is a senior analyst, a position he has held since he joined Manning & Napier Advisors in 1997. He has been a member of the Senior Research Group since 2002. He holds the Charted Financial Analyst designation. Jeffrey W. Donlon  (2004-04-23) Donlon is a senior analyst, a position he has held since joining the Advisor in 1998. He has been a member of the Senior Research Group since 2004. He holds the Charted Financial Analyst designation. Brian W. Lester  (2009-01-01) Lester joined Manning & Napier Advisors, Inc. in 1989. Lester holds the Chartered Financial Analyst designation. Virge J. Trotter, III  (2009-01-01) Trotter, III joined the Advisor in 1997.Senior Analyst since 1997. Managing Director and member of Senior Research Group since 2009. Trotter, III holds the Chartered　Financial Analyst designation. Jack Bauer  (2009-03-01) Bauer is a senior analyst. He joined the Advisor in 1990.Current position held since 1990.Member of Senior Research Group since 1992. Sales Charge % (taken from prospectus dated 2009-03-01) Front: None Deferred: None Expense Ratio % 0.92 based on net assets (taken from annual report dated 2008-10-31) Correspondence Information 290 Woodcliff Drive Fairport,  NY  14450 USA Telephone: 800-466-3863 Data on this page does not include the fund's short positions (if any). Show Data Definitions © Copyright 2009 Morningstar, Inc. All rights reserved. Morningstar, the Morningstar logo, Morningstar.com, Morningstar Tools are either trademark or service marks of Morningstar, Inc. Past performance is no guarantee of future results. Returns will vary and shares may be worth more or less than their original cost when sold.