Core Plus Bond Fund Y shares are only available to certain institutional investors. View Other Share Classes Overview Performance Monthly Characteristics Quarterly Characteristics Holdings Overview The Core Plus Bond Fund seeks high total investment return through a combination of current income and capital appreciationView factsheet Primary BenchmarkBloomberg US Aggregate IndexTotal Fund Assets (as of 3/31/2024) $7.4 billionLipper CategoryCore Plus Bond FundsMorningstar Category Intermediate Core-Plus BondStrategy Highlights Portfolio guidelines are broad, offering considerable investment flexibilityIndividual investment ideas are evaluated on the basis of their investment return potential and contribution to portfolio risk Fund is structured to be benchmark-aware as one means of risk management Portfolio Management TeamPortfolio Managers Peter Palfrey Portfolio Manager Read bio Rick Raczkowski Co-Head & Portfolio Manager, Relative Return Read bio Associate Portfolio Manager3 Michael Gladchun Portfolio Manager Read bio Agency MBS Portfolio Managers Ian Anderson Portfolio Manager, Agency MBS Strategist, Mortgage & Structured Finance Read bio Barath Sankaran Portfolio Manager, Agency MBS, Mortgage & Structured Finance Read bio Investment Strategy Duration is managed in a narrow range to the benchmark May invest up to 20% in high yield securities at the time of purchase May invest up to 10% in non-US dollar denominated securities May shift assets among various types of securities based upon changing market conditions About Risk Fixed income securities may carry one or more of the following risks: credit, interest rate (as interest rates rise bond prices usually fall), inflation and liquidity. Mortgage-related and asset-backed securities are subject to the risks of the mortgages and assets underlying the securities. Other related risks include prepayment risk, which is the risk that the securities may be prepaid, potentially resulting in the reinvestment of the prepaid amounts into securities with lower yields. Below investment grade fixed income securities may be subject to greater risks (including the risk of default) than other fixed income securities. Foreign and emerging market securities may be subject to greater political, economic, environmental, credit, currency and information risks. Foreign securities may be subject to higher volatility than US securities due to varying degrees of regulation and limited liquidity. These risks are magnified in emerging markets. Currency exchange rates between the US dollar and foreign currencies may cause the value of the fund’s investments to decline. Inflation protected securities move with the rate of inflation and carry the risk that in deflationary conditions (when inflation is negative) the value of the bond may decrease. Fund Facts as of 3/31/2024 Class N Class YTickerNERNXClass Inception2/1/2013CUSIP63872R574Minimum Initial Investment$1,000,000Gross Expense Ratio10.40%Net Expense Ratio10.40%Net Asset Value11.5630-Day SEC Yield 24.72%Unsubsidized 30-Day SEC Yield 24.72%CommentaryProspectusReportTickerNERYXClass Inception12/30/1994CUSIP63872R764Minimum Initial Investment$100,000Gross Expense Ratio10.50%Net Expense Ratio10.49%Net Asset Value11.5530-Day SEC Yield 24.63%Unsubsidized 30-Day SEC Yield 24.62%Fact SheetCommentaryProspectusReportOur Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Investment return and value will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, please see the following tab labeled “Performance”. Additional ContentCore Plus Bond Fund Fast Facts Core Plus Bond Fund Attribution Class N shares of the Fund are subject to a $1,000,000 initial investment minimum. There is no initial investment minimum for Certain Retirement Plans and funds of funds that are distributed by Natixis Distribution, LLC (the “Distributor”). 1 As of the most recent prospectus, the investment advisor has contractually agreed to waive fees and/or reimburse expenses (with certain exceptions) once the expense limitation of the fund has been exceeded. This arrangement is set to expire on 1/31/25. When an expense limitation has not been exceeded, the fund may have similar expense ratios and/or yields. 2The 30-day SEC yield is a standardized calculation, calculated by dividing the net investment income per share for the 30-day period by the maximum offering price per share at the end of the period and annualizing the result. Treasury Inflation-Protected Securities (TIPS) are designed to provide protection against inflation through monthly adjustments to the principal value of TIPS, which increases with inflation and decreases with deflation as measured by the Consumer Price Index. Monthly principal adjustments for inflation (increases and decreases) are excluded from the 30-day SEC yield calculation. Such adjustments can vary substantially from one month to the next, and if they were included, may materially impact the 30-day SEC yield either higher or lower. A subsidized 30-day SEC yield reflects the effect of fee waivers and expense reimbursements. The SEC yield is not based upon distributions of the fund and actual income distributions may be higher or lower than the 30-day SEC yield amounts. During periods of unusual market conditions and/or activity in the sales or redemptions of fund shares, the fund’s 30-day SEC yield amounts may be materially higher or lower than its actual income distributions. Unsubsidized 30-day SEC yield is calculated using the gross expenses of the fund. Gross expenses do not include any fee waivers or reimbursement. 3Associate Portfolio Managers do not have discretion over the strategy. The Bloomberg US Aggregate Bond Index represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the US investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. These major sectors are subdivided into more specific indices that are calculated and reported on a regular basis. Indexes are unmanaged and do not incur fees. It is not possible to invest directly in an index. Performance Primary Benchmark: Bloomberg US Aggregate Index Year-to-Date Performance as of 4/24/2024 Class NClass Y -2.98%-3.01% Month-End Performance as of 3/31/2024Cumulative Total ReturnClass NClass Y3 month-0.31%-0.33%Year-to-date-0.31%-0.33%Average Annualized Total ReturnClass NClass YInception Date2/1/201312/30/19941 Year1.96%1.86%3 Years-1.99%-2.09%5 Years1.26%1.17%10 Years2.06%1.97%Since Inception2.13%5.44%Quarter-End Performance as of 3/31/2024Cumulative Total ReturnClass NClass Y3 month-0.31%-0.33%Year-to-date-0.31%-0.33%Average Annualized Total ReturnClass NClass YInception Date2/1/201312/30/19941 Year1.96%1.86%3 Years-1.99%-2.09%5 Years1.26%1.17%10 Years2.06%1.97%Since Inception2.13%5.44% Gross Expense Ratio: (N) 0.40%, (Y) 0.50%; Net Expense Ratio: (N) 0.40%, (Y) 0.49% As of the most recent prospectus, the investment advisor has contractually agreed to waive fees and/or reimburse expenses (with certain exceptions) once the expense limitation of the fund has been exceeded. This arrangement is set to expire on 1/31/25. When an expense limitation has not been exceeded, the fund may have similar expense ratios. Lipper Ranking as of 3/31/2024 Class NClass Y1 Year231/329 236/3293 Years96/301 110/3015 Years61/280 81/28010 Years43/182 51/182Lipper Category: Core Plus Bond FundsMorningstar Ranking as of 3/31/2024 Class NClass Y1 Year432/624 440/6243 Years155/557 179/5575 Years98/527 126/52710 Years74/368 94/368Morningstar Category: Intermediate Core-Plus BondLipper and Morningstar rankings are based on total returns calculated by each ranking entity. Rankings do not take into account sales charges, if applicable, but include reinvestment of dividends and capital gains, if any. Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. Returns include changes in share price and reinvestment of dividends and capital gains, if any.Lipper Analytical Services Inc., a Thomson Reuters Company, is a nationally recognized organization that provides performance information for mutual funds. Copyright 2024 © Reuters. All rights reserved. Any copying, republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.© 2024 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Monthly Characteristics Monthly as of 3/31/2024 Characteristics Number of Issues883Average Maturity9.66Weighted Average Duration7.08Annual Turnover (9/30/2023)168.18% Currency Distribution US Dollar95.5% Uruguay Peso1.9% Mexican Peso1.6% Brazilian Real1.0% Duration Distribution Less than 1 Yr.-4.6% 1 to 3 Yrs.15.8% 3 to 5 Yrs.17.0% 5 to 7 Yrs.17.0% 7 to 10 Yrs.32.3% 10 Yrs. or more16.8% Cash & Equivalents5.7% Sector Distribution Securitized Agency26.4% US Treasurys26.2% Investment Grade Corporate19.4% Securitized Credit11.5% High Yield Corporate4.8% Non-US Dollar4.5% Government Related0.9% US Agency0.4% Municipals0.1% Cash & Equivalents5.7% Country Distribution United States79.4% Cayman Islands3.7% Mexico2.6% Brazil2.2% Uruguay1.9% United Kingdom1.5% France1.2% Germany0.9% Chile0.9% Other5.8% Maturity Distribution Less than 1 Yr.3.9% 1 to 3 Yrs.8.3% 3 to 5 Yrs.12.1% 5 to 7 Yrs.12.7% 7 to 10 Yrs.22.7% 10 Yrs. or more34.5% Cash & Equivalents5.7% Credit Quality US Treasurys26.2% AAA32.8% AA4.0% A7.3% BAA17.7% BA5.5% B0.4% CAA & Lower0.1% Not Rated0.2% Cash & Equivalents5.7% 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 3/31/2024 CharacteristicsFundIndexNumber of Issues88313534Average Maturity9.668.35Weighted Average Duration7.086.17Annual Turnover (9/30/2023)168.18% Currency DistributionFundIndex US Dollar95.5%100.0% Uruguay Peso1.9%0.0% Mexican Peso1.6%0.0% Brazilian Real1.0%0.0% Duration DistributionFundIndex Less than 1 Yr.-4.6%1.6% 1 to 3 Yrs.15.8%24.3% 3 to 5 Yrs.17.0%22.3% 5 to 7 Yrs.17.0%19.4% 7 to 10 Yrs.32.3%16.4% 10 Yrs. or more16.8%16.0% Cash & Equivalents5.7%0.0% Sector Distribution FundIndex Securitized Agency26.4%26.9% US Treasurys26.2%41.7% Investment Grade Corporate19.4%25.2% Securitized Credit11.5%1.3% High Yield Corporate4.8%0.0% Non-US Dollar4.5%0.0% Government Related0.9%3.4% US Agency0.4%0.9% Municipals0.1%0.6% Cash & Equivalents5.7%0.0% Country DistributionFundIndex United States79.4%92.8% Cayman Islands3.7%0.0% Mexico2.6%0.3% Brazil2.2%0.0% Uruguay1.9%0.1% United Kingdom1.5%1.1% France1.2%0.1% Germany0.9%0.4% Chile0.9%0.1% Other5.8%5.1% Maturity DistributionFundIndex Less than 1 Yr.3.9%1.1% 1 to 3 Yrs.8.3%22.0% 3 to 5 Yrs.12.1%19.4% 5 to 7 Yrs.12.7%13.7% 7 to 10 Yrs.22.7%25.7% 10 Yrs. or more34.5%18.1% Cash & Equivalents5.7%0.0% Credit QualityFundIndexUS Treasurys26.2%41.7% AAA32.8%31.5% AA4.0%4.6% A7.3%11.6% BAA17.7%10.7% BA5.5%0.0% B0.4%0.0% CAA & Lower0.1%0.0% Not Rated0.2%0.0% Cash & Equivalents5.7%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 3/31/2024% Assets U S TREASURY28.2% FEDERAL NATIONAL MORTGAGE ASSOCIATION26.7% FEDERAL HOME LOAN BANK2.9% GOVT OF URUGUAY1.9% GOVT OF MEXICO1.6% BANK OF AMERICA CORP1.0% BRAZIL GOVERNMENT1.0% FEDERAL HOME LOAN MORTGAGE CORP1.0% CHARTER COMMUNICATIONS INC0.6% GOVT NATL MTG ASSN0.6% Total65.5% Top 10 holdings may not be representative of current or future holdings and will evolve over time. x < Page: / > Download PDF