UAT Tactical Credit Asset Opportunities Overview Composite Performance Overview The Tactical Credit Asset Opportunities strategy seeks to maximize return potential by investing in what we consider to be attractive issuers in the global investment grade credit, high yield credit, bank loan, securitized, and emerging markets sectors based on the current phase of the global credit cycle View factsheet Primary Benchmark33% Bloomberg U.S. Corporate High Yield Index, 33% JP Morgan Emerging Markets Bond Index (EMBI) Global Diversified, 34% Credit Suisse Leveraged Loan IndexPortfolio Management Team Portfolio Managers Andrea DiCenso Portfolio Manager Read bio Kevin Kearns Portfolio Manager & Head of Alpha Strategies Read bio Tom Stolberg Portfolio Manager Read bio Associate Portfolio Managers Mark LaRochelle Associate Portfolio Manager & Strategist Read bio Peter Yanulis 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 with a primarily sub-investment grade focus Asset allocation determined by evaluating the current stage of the global 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 to 7 years Maximum below investment grade: 100% Currency: 20% maximum non-US dollar after hedges* Leverage: None; not including use of futures for duration and interest rate management Strategy Facts as of 6/30/2024Strategy Inception6/30/2020Strategy Assets$2.9 billionComposite Assets$142.8 millionNumber of Composite Accounts1Fact Sheet 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 20% of the Composite excluding The Senior Floating Rate Fund, LLC, which allows for up to 5% of its total assets in senior loans denominated in currencies other than USD. The Tactical Credit Asset Opportunities Composite includes all discretionary accounts with market values greater than $50 million managed by Loomis Sayles that seek to maximize risk-adjusted returns by allocating across the credit spectrum based on macro analysis of economic regimes and the global credit cycle. Accessing a broad investment opportunity set allows the product team to seek to create a diversified portfolio with what the team believes are the most attractive issuers in the global investment grade credit, high yield credit, bank loan, securitized and emerging markets. Interest rate duration is managed from zero to seven years. The Composite inception date is November 1, 2022. The Composite was created in 2023. Performance Primary Benchmark: 33% Bloomberg U.S. Corporate High Yield Index, 33% JP Morgan Emerging Markets Bond Index (EMBI) Global Diversified, 34% Credit Suisse Leveraged Loan Index Quarter-End Performance as of 6/30/2024CumulativeGrossNetIndex3 month0.63%0.51%1.10% Year-to-date2.94%2.69%3.15%Trailing Performance as of 6/30/2024Average Annualized ReturnGrossNetIndex1 year9.12%8.59%10.30% Since Inception 11/1/202210.43%9.89%11.75% Period PerformanceYearGrossNetIndex20239.91%9.37%12.59% 2022*4.28%4.19%3.62%* Since Inception 10/31/2022 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 6/30/2024% Assets @ERROR% Top 10 holdings may not be representative of current or future holdings and will evolve over time. x < Page: / > Download PDF