UAT Credit Asset Overview Composite Performance Overview The Credit Asset strategy seeks to maximize return potential by investing in what we consider to be attractive issuers in the investment grade credit, high yield credit, bank loan, and securitized markets based on the current phase of the credit cycle Primary Benchmark50% Bloomberg Corporate Index, 25% Bloomberg 2% Capped High Yield Issuer Index and 25% Morningstar LSTA US Leveraged Loan IndexPortfolio ManagementPortfolio Managers Kevin Kearns Portfolio Manager & Head of Alpha Strategies Read bio Andrea DiCenso Portfolio Manager Read bio Tom Stolberg Portfolio Manager Read bio Associate Portfolio Manager Mark LaRochelle Associate Portfolio Manager & Strategist Read bio Strategy Highlights Multi asset credit (MAC) strategy that seeks to capture credit risk premiums in markets that we believe can offer strong risk-adjusted return potential over a full market cycle Asset allocation determined by evaluating the current stage of the credit cycle and the attractiveness of the various sectors Top-down analysis driven by real-time market data, economic releases, and market technicals, coupled with our quantitative models Bottom-up analysis is driven by the portfolio management team’s daily interaction with sector teams and the insights the teams generate Portfolio Construction Duration: 0-7 years Max industry: 25% (excluding Government or Agencies) Max issuer: 5% (excluding Government or Agencies) Quality Range: Aaa-Caa Maximum below investment grade: 100% Currency: US dollar only; allows 10% non-USD denominated investments hedged back to USD* Leverage: None; not including use of futures for duration and interest rate management Strategy Facts as of 9/30/2024Strategy Inception3/16/2009Strategy Assets$4.6 billionComposite Assets$1.8 billionNumber of Composite Accounts2Fact Sheet Additional ContentMore on Alpha Strategies Learn More About the Team Explore more about the team’s philosophy, offerings, and insights.Learn More *Non-US Dollar-denominated investments may not exceed 10% of the Composite, excluding the Senior Loan Fund, LLC, which allows for up to 5% of its total assets in senior loans denominated in currencies other than USD The Credit Asset Composite includes all discretionary accounts with market values greater than $75 million managed by Loomis Sayles that seek to maximize return potential by investing in what we consider to be attractive issuers in the investment grade credit, high yield credit, bank loan and securitized markets based on the current phase of the credit cycle. Asset allocation is determined by evaluating the current stage of the credit cycle and the attractiveness of the various sectors. Interest rate duration is managed from zero to seven years. Exposure to non-USD denominated investments is permitted up to 10% and is hedged back to USD. The Composite inception date is May 1, 2009. The Composite was created in 2010. Performance Primary Benchmark: 50% Bloomberg Corporate Index, 25% Bloomberg 2% Capped High Yield Issuer Index and 25% Morningstar LSTA US Leveraged Loan Index Quarter-End Performance as of 9/30/2024CumulativeGrossNetIndex3 month4.63%4.51%4.74% Year-to-date6.55%6.20%6.31%Trailing Performance as of 9/30/2024Annualized Total ReturnGrossNetIndex1 year13.73%13.23%13.50% 3 years1.77%1.31%1.83% 5 years4.13%3.66%3.24% 10 years4.75%4.28%3.99% Since Inception 5/1/20097.07%6.59%6.22% Period PerformanceYearGrossNetIndex20239.08%8.60%11.00% 2022-9.40%-9.81%-10.95% 20213.63%3.17%2.07% 202010.32%9.83%7.54% 201913.14%12.64%13.03% 2018-1.20%-1.65%-1.64% 20177.35%6.87%6.11% 201612.15%11.65%9.83% 2015-2.36%-2.80%-1.59% 20144.88%4.41%4.73% 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