Multisector Credit
The Multisector Credit strategy seeks to maximize total return and higher levels of portfolio income through research driven security selection while managing downside risk through careful portfolio construction
Primary Benchmark:
Bloomberg Barclays US Credit Bond Index
Strategy Highlights
- Consistent approach with flagship Multisector Full Discretion strategy, but with structural emphasis on corporate credit exposure
- Value-driven, opportunistic approach begins with bottom-up research and incorporates top-down macro inputs
- Focus on long-term investment horizon
- Broad opportunity set within credit sectors, making use of out-of-benchmark securities for value and diversification
- Security selection is a primary driver of performance; other sources of excess return consist of sector allocation, country management and yield curve/duration positioning
- Seasoned management team with each portfolio manager having over of 25 years of industry experience, and over 22 years of experience at Loomis Sayles
The Composite includes all discretionary separate accounts with market values greater than $20 million managed by Loomis Sayles with the objective of maximizing total return and higher levels of portfolio income through individual security selection with a 50% limit in high yield securities and use of out-of-benchmark sectors including but not limited to emerging market debt, convertibles, government debt, bank loans, and securitized debt (but excluding non-dollar and equity securities). 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 200-600 basis points. The Composite inception date is January 1, 2010. The Composite was created in 2020.
Primary Benchmark:
Bloomberg Barclays US Credit Bond Index
Quarter-End Performance as of 12/31/2020 Cumulative | Gross | Net | Index |
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3 month | 3.88% | 3.77% | 2.79% | Year-to-date | 14.75% | 14.24% | 9.35% |
Trailing Performance as of 12/31/2020 Average Annualized Return | Gross | Net | Index |
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1 year | 14.75% | 14.24% | 9.35% | 3 years | 8.16% | 7.68% | 6.80% | 5 years | 8.49% | 8.01% | 6.44% | 10 years | 7.54% | 7.06% | 5.40% | Since Inception 1/1/2010 | 8.21% | 7.73% | 5.68% |
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Period Performance Year | Gross | Net | Index |
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2020 | 14.75% | 14.24% | 9.35% | 2019 | 10.19% | 9.70% | 13.80% | 2018 | 0.08% | -0.37% | -2.11% | 2017 | 7.20% | 6.72% | 6.18% | 2016 | 10.81% | 10.32% | 5.63% | 2015 | -2.28% | -2.72% | -0.77% | 2014 | 7.60% | 7.13% | 7.53% | 2013 | 5.71% | 5.24% | -2.01% | 2012 | 17.67% | 17.15% | 9.37% | 2011 | 5.22% | 4.75% | 8.35% |
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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. Returns may increase or decrease as a result of currency fluctuations.
There is no guarantee that the investment objective will be realized or that the strategy will generate positive or excess return.
Monthly as of -1/-1/-1
Currency Distribution | |
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| @ERROR% | Duration Distribution | |
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| @ERROR% |
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Sector Distribution (Fixed) * | |
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| 0.0% | Country Distribution | |
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| @ERROR% | Maturity Distribution | |
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| @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 as of -1/-1/-1
Currency Distribution | Fund | Index |
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| @ERROR% | 0.0% | Duration Distribution | Fund | Index |
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| @ERROR% | @ERROR% |
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Sector Distribution (Fixed) * | Fund | Index |
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| 0.0% | 0.0% | | 0.0% | 0.0% | Country Distribution | Fund | Index |
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| @ERROR% | 0.0% | Maturity Distribution | Fund | Index |
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| @ERROR% | @ERROR% | Credit Quality | Fund | Index |
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| @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%.