The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A 50-Year-Old Fund Firm Wins Stimulus Funds Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, April 23, 2020

A 50-Year-Old Fund Firm Wins Stimulus Funds

Reported by Neil Anderson, Managing Editor

A 50-year-old mutual fund firm is awaiting COVID-19 crisis support from the federal government.

Yesterday the Manning & Napier [profile] team revealed that they expect to receive $6.7 million in loan assistance in the coming weeks. Two Manning subsidiaries, Manning & Napier Advisors and Rainier Investment Management, applied for the loans early this month under the Paycheck Protection Program (PPP), under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

Fairport, New York-based Manning will be able to use the money to help meet payroll and pay rent until June 30.

"The company has prioritized the health and well-being of its employees and their families, and the protection of clients' wealth throughout the COVID-19 pandemic," the Manning team writes. "These steps will provide the Company with additional financial flexibility and allow employees to focus on providing investment excellence and high-quality client service during this period of uncertaint."

As of March 31, the Manning team had $17.1 billion in AUM: about $12.2 billion in SMAs and about $4.9 billion in mutual funds and CITs. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2023: Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2023
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use