Mutual Fund Equity Report fund seekers should consider taking a look at Manning & Napier Disciplined Value I (MNDFX Quick QuoteMNDFX - Free Report) . MNDFX has a Zacks Mutual Fund Rank of 2 (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. Since Manning & Napier Disciplined Value I made its debut in November of 2008, MNDFX has garnered more than $100.72 million in assets. The fund's current manager is a team of investment professionals.

Performance

Investors naturally seek funds with strong performance. This fund has delivered a 5-year annualized total return of 12.02%, 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 12.44%, 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 18.28% compared to the category average of 16.07%. Looking at the past 5 years, the fund's standard deviation is 16.21% compared to the category average of 13.99%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

With a 5-year beta of 0.97, the fund is likely to be as volatile as the market average. 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. MNDFX has generated a negative alpha over the past five years of -3.55, demonstrating that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Holdings

Examining 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 83.99% stock in stocks, with an average market capitalization of $151.70 billion. The fund has the heaviest exposure to the following market sectors:

1. Technology
2. Industrial Cyclical
3. Non-Durable
4. Finance

Expenses

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 0.54% 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.

This could just be the start of your research on MNDFXin the Mutual Fund Equity Report category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. If you are more of a stock investor, make sure to also check out our Zacks Rank, and our full suite of tools we have available for novice and professional investors alike.