Zarvic Brothers Meets with Struggling Asset Manager Manning & Na - Erie News Now | WICU & WSEE in Erie, PA

Zarvic Brothers Meets with Struggling Asset Manager Manning & Napier Inc.

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Zarvic Brothers met with Manning & Napier Inc.'s top executives with concerns of company performance, leadership, and fiduciary duties to shareholders.

New York, NY, October 02, 2017 --(PR.com)-- Rochester, New York based asset manager Manning & Napier Inc.'s stock price has fallen from $20 per share in May of 2013 to its current price of approximately $3.90.

The poor performance corresponds with the declining assets under management, that have been redeemed over the past years, approximately 50%.

It appears that Manning & Napier Inc. has a group of noncontrolling interest comprised of company insiders who, according to SEC filings, were paid millions of dollars via an exchangeable units program, based on market price per share of the company's class A common stock.

This has been occurring while the company has experienced significant redemption from investors, and the stock price has spiraled downward in what appears to be a bull market.

In spite of Manning & Napier Inc.'s fiduciary duty to its shareholders, the focus seems to be its exchangeable units program rather than enhancing the stock price for shareholders.

The company's board has been inconsistent in that board members have come and gone which seems to have lead to mismanagement.

Out of concerns arising from the forgoing, Zarvic Brothers met with Manning & Napier Inc. to discuss a wide range of topics, including sale of the company, and finding a potential partner. It looks as though Manning & Napier Inc. has not had any layoffs, or any known reductions in compensation in its top positions, nor has there been anything to suggest its management is eager to make the proper changes that would place the company on the right track.

The real money maker to emerge from Manning & Napier Inc. seems to be the beneficiaries of the exchangeable units program. The program should be halted so that Manning & Napier Inc. can use those funds to enhance the company and increase shareholder value.

Contact Information:
ZarVic Brothers LLC
Chris Stein
212-413-1803
Contact via Email
www.zarvic.com

Read the full story here: http://www.pr.com/press-release/731677

Press Release Distributed by PR.com



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