Markets opened lower on Tuesday, pressured by a weak start to earnings. How should investors be positioned? Patrick Cunningham, managing director at Manning & Napier, shared his investment outlook.
The firm's key fund, Manning & Napier Pro-Blend Max Term (EXHAX), is the only fund in the U.S. to beat the S&P 500 for the last 11 calendar years, according to a statement by the firm.
“We use active asset allocation,” Cunningham told CNBC. “In this fund, we go anywhere between 75 to 95 percent equities.”
Cunningham said he is “overweight” information technology and health care.
“These are the two areas have some secular tailwinds behind them and they aren’t levered to the U.S. consumer,” he said.
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No immediate information was available for Cunningham or his firm.