Since Bill Miller's 15-year streak of topping the S&P 500 came to an end in 2006, the fund industry has been without an S&P-beating star. Now, another fund has emerged with a 10-year record, but the fund doesn't have a big-name manager calling the shots. A lifecycle fund from Manning & Napier, called Manning & Napier Pro-Blend Max Term, has beaten the S&P 500 every year since 1999.

For marketers, it should be interesting to watch how Manning & Napier would promote its fund's feat. On the one hand, the product has no exciting stockpicking tale to trumpet, just a plain old asset allocation story. On the other hand, the fund totes a perfect record for the decade that no one else has.  

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