FAIRPORT, N.Y., June 9, 2016 /PRNewswire/ -- Manning & Napier, Inc. (NYSE: MN), ("Manning & Napier" or "the Company") today announced that it has introduced a new product as part of a comprehensive cash management strategy for higher educational institutions and municipalities – Bank Deposit Investment Accounts (BDIA).
"The interest rates that banks provide on traditional cash accounts are at historic lows, and the current regulatory environment is requiring organizations to rethink their cash management strategies," said Marc Bushallow, Managing Director of Fixed Income. "As a firm that is committed to developing solutions to help clients achieve their goals, we believe a BDIA is an important tool that can help generate income in today's environment."
Some of the benefits to organizations investing their excess cash in a BDIA include:
- The potential to earn more than traditional bank accounts
- No limit to the amount that can be deposited
- Professionally managed solution that can be customized
- Cash is maintained in one highly liquid account - no lockup periods or penalties for early withdrawals
"It's more important than ever for organizations to recognize the potential of their cash," said Joe Rulison, Co-Founder and CEO of three+one advisors in Rochester, NY. "Performing a cash flow analysis can help organizations identify their operational, rainy day, and excess cash. Once identified, that excess cash can be invested into a BDIA to help generate income."
About Manning & Napier, Inc.
Manning & Napier provides a broad range of investment solutions as well as a variety of consultative services that complement our investment process. Founded in 1970, we offer equity, fixed income and alternative strategies, as well as a range of blended asset portfolios, such as life cycle funds. We serve a diversified client base of high-net-worth individuals and institutions, including 401(k) plans, pension plans, Taft-Hartley plans, endowments and foundations. For many of these clients, our relationship goes beyond investment management and includes customized solutions that address key issues and solve client-specific problems. We are headquartered in Fairport, NY.
To learn more about Manning & Napier's BDIA solution, visit go.manning-napier.com/BDIA.
Manning & Napier is not affiliated with three+one.
Manning & Napier, Inc.
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SOURCE Manning & Napier, Inc.