Opportunistic Securitized Credit Overview Composite Performance Overview The Opportunistic Securitized Credit strategy pursues high current income and total potential returns through a diversified credit exposure to securitized assets including asset-backed securities (ABS), collateralized loan obligation securities (CLO), commercial mortgage-backed securities (CMBS), and non-agency residential mortgage-backed securities (RMBS) Primary BenchmarkICE BofA ABS & CMBS IndexPortfolio Management Alessandro Pagani Portfolio Manager Read bio Stephen L'Heureux Portfolio Manager Read bio Steve LaPlante Portfolio Manager Read bio Jennifer Thomas Portfolio Manager, Mortgage & Structured Finance Read bio Strategy Highlights Credit focused strategy that seeks to outperform through both security selection and sector allocation within the non-agency securitized asset classes Securitized credit generally results in a portfolio with shorter duration than overall fixed income market Value-oriented strategy targeting the deeper credit securitized sectors Ability to invest in distressed securities and residual/equity classes of securitizations Minimum average rating: BBB-* at time of purchase Strategy Facts as of 9/30/2024Strategy Inception12/15/2011Composite Assets$373.9 millionNumber of Composite Accounts1Fact Sheet *Based on minimum average rating assigned by Standard & Poor’s Rating Services, Moody’s Investors Service, Inc. or Fitch, Inc Performance Primary Benchmark: ICE BofA ABS & CMBS Index Quarter-End Performance as of 9/30/2024CumulativeGrossNetIndex3 month4.98%4.85%3.37% Year-to-date13.67%13.25%6.11%Trailing Performance as of 9/30/2024Annualized Total ReturnGrossNetIndex1 year18.67%18.08%9.91% 3 years6.22%5.70%1.13% 5 years5.31%4.78%1.81% 10 years5.64%5.12%2.37% Since Inception 2/1/20127.08%6.55%2.50% Period PerformanceYearGrossNetIndex202310.20%9.65%5.55% 2022-4.44%-4.92%-7.20% 20217.40%6.87%0.05% 20200.09%-0.41%5.20% 20196.11%5.58%5.89% 20184.81%4.29%1.74% 20178.92%8.38%2.84% 20166.08%5.55%2.71% 20153.79%3.27%0.81% 20146.75%6.22%3.09% 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