Core Plus Full Discretion Overview Composite Performance Overview The Core Plus Full Discretion strategy seeks to maximize total return through research driven security selection while managing downside risk through careful portfolio construction Primary BenchmarkBloomberg US Aggregate IndexPortfolio ManagementPortfolio Managers Matt Eagan Portfolio Manager, Head of Full Discretion Read bio Brian Kennedy Portfolio Manager Read bio Associate Portfolio Manager 1 Bryan Hazelton Associate Portfolio Manager & Strategist Read bio Strategy Highlights High conviction, active credit manager Core plus strategy seeking to exploit opportunities across credit qualities and sectors Repeatable, deep value equity-like approach to fundamental research and issue selection Risk awareness tools overlay fundamental investment process May invest up to 20% in non-US dollar denominated securities May invest up to 15% in high yield securities May invest up to 5% in equity securities Maximum of 5% per non-government issuer (GSEs excluded) Maximum of 25% per industry Strategy Facts as of 9/30/2024Strategy Inception1/1/1989Strategy Assets$36.5 billionComposite Assets$16.9 billionNumber of Composite Accounts16Fact Sheet Learn More About the Team Explore more about the team’s philosophy, offerings, and insights.Learn More The Composite includes all discretionary accounts with market values greater than $5 million managed by Loomis Sayles with the objective of maximizing total return through individual security selection with a 15% limit in high yield securities and use of out-of-benchmark sectors including but not limited to non-US dollar denominated, emerging market debt, convertibles, securitized debt and bank loans. Yield curve and duration management provide additional tactical tools for the portfolio management team with strategic allocation to higher yielding credit sensitive sectors employing Loomis Sayles security level research and significant allocation to non-index sectors as primary sources of alpha. Tracking error is not explicitly targeted for this product, however, historically these portfolios have exhibited annualized tracking error of approximately 200-500 basis points. As of 1/1/2021 the Composite was redefined to include commingled vehicles, previously only separate accounts were included. The Composite inception date is January 1, 1989. The Composite was created in 2003. 1Associate Portfolio Managers do not have discretion over the strategy. Performance Primary Benchmark: Bloomberg US Aggregate Index Quarter-End Performance as of 9/30/2024CumulativeGrossNetIndex3 month5.73%5.62%5.20% Year-to-date6.42%6.11%4.45%Trailing Performance as of 9/30/2024Annualized Total ReturnGrossNetIndex1 year14.47%14.02%11.57% 3 years0.78%0.45%-1.39% 5 years2.98%2.67%0.33% 10 years3.47%3.17%1.84% Since Inception 1/1/19897.38%7.12%5.38% Period PerformanceYearGrossNetIndex20237.98%7.55%5.53% 2022-10.95%-11.14%-13.01% 20210.33%0.11%-1.54% 202011.77%11.47%7.51% 20199.44%9.13%8.72% 20180.15%-0.14%0.01% 20176.16%5.86%3.54% 20167.15%6.84%2.65% 2015-1.99%-2.27%0.55% 20145.62%5.33%5.97% Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Current performance may be lower or higher than quoted. Returns are shown in US dollars and are annualized for one and multi-year periods. Gross returns are net of trading costs. Net returns are gross returns less effective management fees.There is no guarantee that the investment objective will be realized or that the strategy will generate positive or excess return. Monthly Characteristics Monthly as of -1/-1/-1 Currency Distribution @ERROR% Duration Distribution @ERROR% Sector Distribution (Fixed) 0.0% Country Distribution @ERROR% Maturity Distribution @ERROR% Credit Quality @ERROR% Portfolio composition statistics are from the adviser’s internal system and may not match the fund’s regulatory documents. Credit Quality reflects the highest credit rating assigned to individual holdings of the fund among Moody’s, S&P or Fitch; ratings are subject to change. The fund’s shares are not rated by any rating agency and no credit rating for fund shares is implied. Bond credit ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest).Cash & Equivalents reflects unsettled trades, fees and derivatives. Negative Cash & Equivalents reflect the market value of future trade commitments for the fund. ABS/RMBS: Asset-Backed Securities/Residential Mortgage-Backed Securities. Agency MBS: Agency Mortgage-Backed Securities. CMBS: Commercial Mortgage-Backed Securities. Due to rounding, Sector, Currency, Country, Duration, Maturity and Quality distribution totals may not equal 100%. Quarterly Characteristics Quarterly as of -1/-1/-1 Currency DistributionFundIndex @ERROR%0.0% Duration DistributionFundIndex @ERROR%@ERROR% Sector Distribution (Fixed)FundIndex 0.0%0.0% 0.0%0.0% Country DistributionFundIndex @ERROR%0.0% Maturity DistributionFundIndex @ERROR%@ERROR% Credit QualityFundIndex@ERROR%0.0% Portfolio composition statistics are from the adviser’s internal system and may not match the fund’s regulatory documents. Credit Quality reflects the highest credit rating assigned to individual holdings of the fund among Moody’s, S&P or Fitch; ratings are subject to change. The fund’s shares are not rated by any rating agency and no credit rating for fund shares is implied. Bond credit ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest).Cash & Equivalents reflects unsettled trades, fees and derivatives. Negative Cash & Equivalents reflect the market value of future trade commitments for the fund. ABS/RMBS: Asset-Backed Securities/Residential Mortgage-Backed Securities. Agency MBS: Agency Mortgage-Backed Securities. CMBS: Commercial Mortgage-Backed Securities. Due to rounding, Sector, Currency, Country, Duration, Maturity and Quality distribution totals may not equal 100%. Holdings Top Ten Holdingsas of 9/30/2024% Assets @ERROR% Top 10 holdings may not be representative of current or future holdings and will evolve over time. x < Page: / > Download PDF