Exhibit 99

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Manning & Napier, Inc. Reports First Quarter 2019 Earnings Results


FAIRPORT, NY, April 30, 2019 - Manning & Napier, Inc. (NYSE: MN), (“Manning & Napier” or the "Company”) today reported 2019 first quarter results for the period ended March 31, 2019.
Summary Highlights
Assets under management ("AUM") at March 31, 2019 were $21.1 billion, compared to $20.2 billion at December 31, 2018
Revenue for the first quarter was $34.8 million, a decrease of 18% and 7% from the first and fourth quarters of 2018, respectively
First quarter income before taxes was $3.2 million; the net income attributable to Manning & Napier, Inc. for the first quarter was $0.6 million, or $0.03 per diluted share
On a non-GAAP basis, as defined in the Non-GAAP Financial Measures section below, economic net income for the quarter was $2.2 million, or $0.03 per adjusted share
The Company completed the final stage of the firm’s multi-year mutual fund fee restructure initiative to improve the competitive positioning of our mutual fund offerings 
The Company's Board of Directors declared a quarterly dividend of $0.02 per share of Class A common stock at its March 2019 board meeting

"Our rigorous, research-driven approach to asset allocation, sector and security selection, and disciplined risk management processes provide clients with a portfolio that is well-positioned for market fluctuations. This dynamism and flexibility was apparent in our ability to keep up in a strong up market in the first quarter, after broadly outperforming during the difficult fourth quarter of 2018," observed Marc Mayer, Chief Executive Officer of Manning & Napier.

Mr. Mayer went on to say, "We have been conducting a strategic review to identify areas where we can optimize our business. This has confirmed that our fiduciary, client-centric culture and disciplined investment processes are as strong as ever, but that we have an opportunity to refine and enhance our wealth and investment management capabilities, modernize our technological infrastructure, and improve execution across our platform to generate more competitive solutions for our clients and improve our financial results. These areas for improvement have our full attention, and we look forward to updating you further as we progress on those initiatives."
First Quarter 2019 Financial Review
Manning & Napier reported first quarter 2019 revenue of $34.8 million, a decrease of 18% from revenue of $42.2 million reported in the first quarter of 2018, and a decrease of 7% from revenue of $37.4 million reported in the fourth quarter of 2018. The decline in revenue resulted primarily from changes in average AUM. Average AUM for the quarter was $20.7 billion, a 15% and 4% decrease from average AUM for the first quarter of 2018 and the fourth quarter of 2018, when average AUM was $24.3 billion and $21.5 billion, respectively. Revenue as a percentage of average AUM was 0.68% for the first quarter of 2019, compared to 0.70% and 0.69% for the first quarter of 2018 and the fourth quarter of 2018, respectively.
Operating expenses for the first quarter 2019 were $33.5 million, a decrease of $1.5 million, or 4%, compared with the first quarter of 2018, and an increase of $1.4 million, or 4%, compared with the fourth quarter of 2018.


The following information was filed by Manning Napier, Inc. (MN) on Tuesday, April 30, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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