From Manning and Napier Website 'Investment Process' page:
https://www.manning-napier.com/InstitutionalInvestors/Public/Process.aspx
Hurdle Rate
This strategy looks at companies that are in depressed sectors, but are strong enough to survive the hard times and likely to lead the rebound of their industry when conditions improve. Specifically, the Hurdle Rate Strategy has proven to be an effective way to invest in cyclical industries.
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