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</LabelSeparator><Level>3</Level><ElementName>mnfi_SupplementTextBlock</ElementName><ElementPrefix>mnfi_</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboseLabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="Duration_02Mar2012_01Mar2013" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style="margin-top:0px;margin-bottom:0px" align="center"&gt;&lt;b&gt;MANNING&amp;nbsp;&amp;amp; NAPIER FUND, INC. &lt;/b&gt;&lt;/p&gt; &lt;p style="margin-top:12px;margin-bottom:0px" align="center"&gt;Supplement dated June&amp;nbsp;17, 2013 to the following Prospectuses: &lt;/p&gt; &lt;p style="margin-top:12px;margin-bottom:0px" align="center"&gt;The Prospectuses dated March&amp;nbsp;1, 2013 for the following Series and Classes: &lt;/p&gt; &lt;p style="margin-top:6px;margin-bottom:0px" align="center"&gt;&lt;b&gt;Target Income Series &amp;#150; Classes C, I, K and R &lt;/b&gt;&lt;/p&gt; &lt;p style="margin-top:0px;margin-bottom:0px" align="center"&gt;&lt;b&gt;Target 2010 Series &amp;#150; Classes C, I, K and R &lt;/b&gt;&lt;/p&gt; &lt;p style="margin-top:0px;margin-bottom:0px" align="center"&gt;&lt;b&gt;Target 2015 Series &amp;#150; Classes C, I, K and R &lt;/b&gt;&lt;/p&gt; &lt;p style="margin-top:0px;margin-bottom:0px" align="center"&gt;&lt;b&gt;Target 2020 Series &amp;#150; Classes C, I, K and R &lt;/b&gt;&lt;/p&gt; &lt;p style="margin-top:0px;margin-bottom:0px" align="center"&gt;&lt;b&gt;Target 2025 Series &amp;#150; Classes C, I, K and R &lt;/b&gt;&lt;/p&gt; &lt;p style="margin-top:0px;margin-bottom:0px" align="center"&gt;&lt;b&gt;Target 2030 Series &amp;#150; Classes C, I, K and R &lt;/b&gt;&lt;/p&gt; &lt;p style="margin-top:0px;margin-bottom:0px" align="center"&gt;&lt;b&gt;Target 2035 Series &amp;#150; Classes C, I, K and R &lt;/b&gt;&lt;/p&gt; &lt;p style="margin-top:0px;margin-bottom:0px" align="center"&gt;&lt;b&gt;Target 2040 Series &amp;#150; Classes C, I, K and R &lt;/b&gt;&lt;/p&gt; &lt;p style="margin-top:0px;margin-bottom:0px" align="center"&gt;&lt;b&gt;Target 2045 Series &amp;#150; Classes C, I, K and R &lt;/b&gt;&lt;/p&gt; &lt;p style="margin-top:0px;margin-bottom:0px" align="center"&gt;&lt;b&gt;Target 2050 Series &amp;#150; Classes C, I, K and R &lt;/b&gt;&lt;/p&gt; &lt;p style="margin-top:0px;margin-bottom:0px" align="center"&gt;&lt;b&gt;Target 2055 Series &amp;#150; Classes C, I, K and R &lt;/b&gt;&lt;/p&gt; &lt;p style="margin-top:0px;margin-bottom:0px" align="center"&gt;&lt;b&gt;(the &amp;#147;Target Series Prospectus&amp;#148;) &lt;/b&gt;&lt;/p&gt; &lt;p style="margin-top:14px;margin-bottom:0px"&gt;&lt;b&gt;This supplement provides new and additional information beyond that contained in the Prospectuses and should be read in conjunction with the Prospectuses. &lt;/b&gt;&lt;/p&gt;&lt;br/&gt;  &lt;table style="border-collapse:collapse" border="0" cellpadding="0" cellspacing="0" width="100%"&gt; &lt;tr&gt; &lt;td width="4%" valign="top" align="left"&gt;2.&lt;/td&gt; &lt;td align="left" valign="top"&gt;Changes with Respect to the Target Income Series &lt;/td&gt;&lt;/tr&gt;&lt;/table&gt; &lt;p style="margin-top:12px;margin-bottom:0px"&gt;In the &amp;#147;Summary of Past Performance&amp;#148; section of the Target Income Series&amp;#146; summary section of the Target Series Prospectus, the Average Annual Total Return table is hereby deleted and replaced by the following: &lt;/p&gt; &lt;p style="font-size:12px;margin-top:0px;margin-bottom:0px"&gt;&amp;nbsp;&lt;/p&gt; &lt;table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"&gt;   &lt;tr&gt; &lt;td width="82%"&gt;&lt;/td&gt; &lt;td valign="bottom" width="7%"&gt;&lt;/td&gt; &lt;td&gt;&lt;/td&gt; &lt;td&gt;&lt;/td&gt; &lt;td&gt;&lt;/td&gt; &lt;td valign="bottom" width="7%"&gt;&lt;/td&gt; &lt;td&gt;&lt;/td&gt; &lt;td&gt;&lt;/td&gt; &lt;td&gt;&lt;/td&gt;&lt;/tr&gt;   &lt;tr &gt; &lt;td valign="top" colspan="8"&gt; &lt;p style="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"&gt;&lt;b&gt;AVERAGE ANNUAL TOTAL RETURNS&lt;/b&gt;&lt;/p&gt; &lt;p style="margin-top:0px;margin-bottom:1px; margin-left:1.00em; text-indent:-1.00em"&gt;&lt;b&gt;FOR PERIODS ENDED DECEMBER&amp;nbsp;31, 2012&lt;/b&gt;&lt;/p&gt;&lt;/td&gt; &lt;td valign="top"&gt; &lt;p style="margin-top:0px;margin-bottom:0px; margin-left:1.00em; text-indent:-1.00em"&gt;&lt;b&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style="margin-top:0px;margin-bottom:1px; margin-left:1.00em; text-indent:-1.00em"&gt;&lt;b&gt;&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"&gt;&lt;b&gt;1&amp;nbsp;Year&lt;/b&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" colspan="2" align="center" style="border-bottom:1px solid #000000"&gt;&lt;b&gt;Since&lt;br/&gt;Inception&lt;/b&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr &gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;Class K Shares&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;Return Before Taxes&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" align="right"&gt;8.69&lt;/td&gt; &lt;td nowrap="nowrap" valign="bottom"&gt;%&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" align="right"&gt;5.46&lt;/td&gt; &lt;td nowrap="nowrap" valign="bottom"&gt;%&lt;/td&gt;&lt;/tr&gt; &lt;tr &gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;Return After Taxes on Distributions&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" align="right"&gt;7.29&lt;/td&gt; &lt;td nowrap="nowrap" valign="bottom"&gt;%&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" align="right"&gt;4.31&lt;/td&gt; &lt;td nowrap="nowrap" valign="bottom"&gt;%&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;Return After Taxes on Distributions and Sale of Series Shares&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" align="right"&gt;6.60&lt;/td&gt; &lt;td nowrap="nowrap" valign="bottom"&gt;%&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" align="right"&gt;4.20&lt;/td&gt; &lt;td nowrap="nowrap" valign="bottom"&gt;%&lt;/td&gt;&lt;/tr&gt; &lt;tr &gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;Class I Shares &amp;#151; Return Before Taxes&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" align="right"&gt;9.04&lt;/td&gt; &lt;td nowrap="nowrap" valign="bottom"&gt;%&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" align="right"&gt;5.73&lt;/td&gt; &lt;td nowrap="nowrap" valign="bottom"&gt;%&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;Class R Shares &amp;#151; Return Before Taxes&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" align="right"&gt;8.41&lt;/td&gt; &lt;td nowrap="nowrap" valign="bottom"&gt;%&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" align="right"&gt;5.20&lt;/td&gt; &lt;td nowrap="nowrap" valign="bottom"&gt;%&lt;/td&gt;&lt;/tr&gt; &lt;tr &gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;Class C Shares &amp;#151; Return Before Taxes&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" align="right"&gt;7.91&lt;/td&gt; &lt;td nowrap="nowrap" valign="bottom"&gt;%&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" align="right"&gt;4.67&lt;/td&gt; &lt;td nowrap="nowrap" valign="bottom"&gt;%&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;Indices: (reflect no deduction for fees, expenses, or taxes)&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr &gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;Barclays Capital U.S. Intermediate Aggregate Bond Index&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" align="right"&gt;3.56&lt;/td&gt; &lt;td nowrap="nowrap" valign="bottom"&gt;%&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" align="right"&gt;5.17&lt;/td&gt; &lt;td nowrap="nowrap" valign="bottom"&gt;%&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;Target Income Blended Index&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" align="right"&gt;6.89&lt;/td&gt; &lt;td nowrap="nowrap" valign="bottom"&gt;%&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;/td&gt; &lt;td valign="bottom" align="right"&gt;5.24&lt;/td&gt; &lt;td nowrap="nowrap" valign="bottom"&gt;%&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Supplement.</ElementDefenition><ElementReferences>No definition available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Supplement [Text Block]</Label></Row></Rows><Footnotes /><IsEquityReport>false</IsEquityReport><ReportName>Risk/Return Supplement  - Target Income Series</ReportName><MonetaryRoundingLevel>UnKnown</MonetaryRoundingLevel><SharesRoundingLevel>UnKnown</SharesRoundingLevel><PerShareRoundingLevel>UnKnown</PerShareRoundingLevel><ExchangeRateRoundingLevel>UnKnown</ExchangeRateRoundingLevel><HasCustomUnits>true</HasCustomUnits><IsEmbedReport>false</IsEmbedReport><IsMultiCurrency>false</IsMultiCurrency><ReportType>Sheet</ReportType><RoleURI>http://www.mn.com/role/DocumentRiskReturnSupplementUnlabeledTargetIncomeSeries</RoleURI><NumberOfCols>1</NumberOfCols><NumberOfRows>1</NumberOfRows></InstanceReport>
