Pure Agency MBS
The Pure Agency MBS strategy seeks to maximize current income consistent with capital preservation
Primary Benchmark:
Bloomberg US Mortgage Backed Securities Index
Strategy Highlights
- Benchmark-aware strategy targeting the full investment universe of agency mortgage-backed securities (Agency MBS); all securities must have an explicit or effective guarantee from the US Government*
- Invests in fixed-rate and adjustable rate agency mortgage-backed pass-through securities of Ginnie Mae (GNMA), Fannie Mae (FNMA), and Freddie Mac (FHLMC)
- Investment style combines a top-down approach to inter-sector allocation decisions and an active bottom-up security selection framework
- Subject to client approval, portfolios may utilize mortgage-derivative collateralized mortgage obligations (CMOs), such as IOs and POs and interest rate hedging strategies
*US Government guarantees relate to the timely payment of principal and interest of the strategy's portfolio securities only and not the shares of the underlying fund which will fluctuate in value.
Effective 6/30/2020, the Composite formerly known as Agency MBS changed its name. The Composite includes all discretionary accounts with market values greater than $10 million managed by Loomis Sayles with guidelines that allow for investing in fixed-rate agency mortgage-backed pass-through securities of Ginnie Mae (GNMA), Fannie Mae (FNMA), and Freddie Mac (FHLMC), and that allow for interest rate derivatives as well as CMO mortgage derivatives such as IOs and POs in the Agency MBS universe. Portfolios seek a high level of current income consistent with capital preservation. The Composite inception date is June 1, 2013. The Composite was created in 2013.
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Primary Benchmark:
Bloomberg US Mortgage Backed Securities Index
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Quarter-End Performance as of 9/30/2021 | Cumulative | Gross | Net | Index |
|---|
| 3 month | 0.16% | 0.11% | 0.10% | | Year-to-date | 0.16% | 0.01% | -0.67% |
Trailing Performance as of 9/30/2021 | Average Annualized Return | Gross | Net | Index |
|---|
| 1 year | 0.97% | 0.77% | -0.43% | | 3 years | 4.73% | 4.52% | 3.85% | | 5 years | 3.01% | 2.80% | 2.17% | | Since Inception 6/1/2013 | 3.42% | 3.21% | 2.60% |
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Period Performance | Year | Gross | Net | Index |
|---|
| 2020 | 4.28% | 4.06% | 3.87% | | 2019 | 7.49% | 7.27% | 6.35% | | 2018 | 2.02% | 1.81% | 0.99% | | 2017 | 3.31% | 3.09% | 2.47% | | 2016 | 2.08% | 1.86% | 1.67% | | 2015 | 2.33% | 2.10% | 1.51% | | 2014 | 7.35% | 7.16% | 6.08% | | 2013* | -0.26% | -0.38% | -0.36% |
* Since Inception 6/1/2013 |
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% |
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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%.