Manning & Napier, an independent financial services company, offers equity, fixed income, and blended-asset portfolios of collective investment trust funds, mutual funds, and separately managed accounts (SMAs; individual mutual-fund like accounts managed for specific goals). With more than $53 billion in assets under management, the firm serves high-net-worth individuals and large institutions, including corporations, endowments, 401(k) plans, pension plans, Taft-Hartley plans, and foundations. Manning & Napier offers its products through a direct sales force and through financial intermediaries and investment consultants. Formed in 1970, the company went public in 2011.