Emerging Markets Debt Blended Total Return
Overview
Strategy Details
Available Vehicles
- Institutional Separate Account
- Commingled TrustA Commingled trust may include a collective investment trust, an institutional-only investment structure that is exclusively available to qualified retirement plans which meet certain eligibility requirements. A collective investment trust is not available to retail investors or the general public. For more information, qualified retirement plan sponsors should reach out to their Loomis Sayles Relationship Manager.
Portfolio Managers
Andrea DiCenso
Portfolio Manager
Peter Yanulis
Portfolio Manager, Associate Portfolio Manager, Strategist
About the Team
A multi-asset investment platform built on the integration of fundamental insight and quantitative innovation.
Investment Strategy
- A total return strategy seeking potential alpha across the broadest emerging markets debt opportunity set
- Benchmark agnostic, tactical approach to emerging markets investing
- Blended opportunity set includes external sovereign, local sovereign and corporate debt markets
- Quantitatively driven top-down regime identification process based on value and momentum in credit and FX markets
- Bottom-up process structured to maximize regional relative value, supported by fundamental research
- Investment team integrates trading to help determine their best expression of each opportunity (sovereign versus corporate)
- Targets a volatility band of 5-7% with a Sharpe Ratio of 1.0 or higher over a full market cycle
- Duration: 0 to 10 years
- Maximum below investment grade: 100%
- Maximum local sovereigns: 50%
- Leverage: None
- Use of Derivatives: futures, forwards, options and swaps
Composite Performance
Cumulative Total Return (%)
As of 9/30/2025| Period | Gross | Net | Index |
|---|---|---|---|
| 3 Months | 4.62% | 4.46% | 3.58% |
| Year-To-Date | 12.36% | 11.83% | 11.12% |
Annualized Total Return (%)
As of 9/30/2025| Period | Gross | Net | Index |
|---|---|---|---|
| 1 Year | 8.67% | 7.97% | 7.50% |
| 3 Years | 12.00% | 11.30% | 11.12% |
| 5 Years | 2.34% | 1.76% | 2.61% |
| Since 3/1/2017 | 3.13% | 2.58% | 3.27% |
Period Performance (%)
As of 9/30/2025| Year | Gross | Net | Index |
|---|---|---|---|
| 2024 | 4.08% | 3.41% | 3.87% |
| 2023 | 11.53% | 10.82% | 10.99% |
| 2022 | -17.94% | -18.35% | -13.90% |
| 2021 | -2.58% | -3.03% | -3.26% |
| 2020 | 12.58% | 12.08% | 5.07% |
| 2019 | 16.79% | 16.25% | 13.93% |
| 2018 | -7.74% | -8.19% | -3.96% |
| 2017 | 2.98% | 2.49% | 7.47% |
Documents
Important Disclosures
Performance data shown represents past performance and is no guarantee 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.
KEY RISKS: Credit Risk, Issuer Risk, Interest Rate Risk, Liquidity Risk, Non-US Securities Risk, Currency Risk, Derivatives Risk, Leverage Risk, Counterparty Risk, Prepayment Risk and Extension Risk. Investing involves risk including possible loss of principal.
There is no guarantee that the investment objective will be realized or that the strategy will generate positive or excess return.
Investment vehicles may not be available to all investors and are subject to eligibility.
The Composite includes all discretionary accounts with market values at least $30 million managed by Loomis Sayles that adopt a total return approach to seek alpha across the broadest set of emerging markets debt asset classes. 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 external sovereign, local sovereign and corporate debt markets. Interest rate duration is managed from zero to ten years. The Composite inception date is March 1, 2017. The Composite was created in May 2020.