Is Manning & Napier Disciplined Value I (MNDFX) a Strong Mutual Fund Pick Right Now?

Looking for a Large Cap Value fund? You may want to consider Manning & Napier Disciplined Value I (MNDFX) as a possible option. MNDFX bears a Zacks Mutual Fund Rank of 3 (Hold), which is based on various forecasting factors like size, cost, and past performance.ObjectiveMNDFX is one of many Large Cap Value mutual funds to choose from. These funds invest in equities with a market capitalization of $10 billion or more, but whose share prices do not reflect their intrinsic value. This strategy can often produce low P/E ratios and high dividend yields; growth levels; however, growth levels are oftentimes cut back. These funds'high growth opportunities are slowed even more since large-cap stocks are usually in more stable industries with low to moderate growth prospects. Thus, investors interested in a stable income stream fund Large Cap Value funds very appealing.History of Fund/ManagerMNDFX is a part of the Manning & Napier family of funds, a company based out of Columbus, OH. Manning & Napier Disciplined Value I debuted in November of 2008. Since then, MNDFX has accumulated assets of about $65.06 million, according to the most recently available information. A team of investment professionals is the fund's current manager.PerformanceInvestors naturally seek funds with strong performance. MNDFX has a 5-year annualized total return of 8.58% and it sits in the bottom third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3 -year annualized total return of 5.66%, which places it in the bottom third during this time-frame.It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.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. Compared to the category average of 14.85%, the standard deviation of MNDFX over the past three years is 15.85%. Over the past 5 years, the standard deviation of the fund is 17.6% compared to the category average of 16%. This makes the fund more volatile than its peers over the past half-decade.Risk FactorsThe fund has a 5-year beta of 0.87, so investors should note that it is hypothetically less volatile than the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. MNDFX has generated a negative alpha over the past five years of -4.31, demonstrating that managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.HoldingsExploring 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 mostly on equities that are traded in the United States.Currently, this mutual fund is holding 82.23% in stocks, which have an average market capitalization of $159.80 billion. The fund has the heaviest exposure to the following market sectors: Finance Industrial Cyclical Energy Turnover is 82%, which means this fund makes fewer trades than the average comparable fund.ExpensesFor investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, MNDFX is a no load fund. It has an expense ratio of 0.60% compared to the category average of 0.94%. From a cost perspective, MNDFX is actually cheaper than its peers.Investors need to be aware that with this product, the minimum initial investment is $1 million; each subsequent investment has no minimum amount.Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.Bottom LineOverall, even with its comparatively weak performance, average downside risk, and lower fees, Manning & Napier Disciplined Value I ( MNDFX ) has a neutral Zacks Mutual Fund rank, and therefore looks a somewhat average choice for investors right now.For additional information on this product, or to compare it to other mutual funds in the Large Cap Value, make sure to go to www.zacks.com/funds/mutual-funds for additional information. 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