Emerging Markets Short Duration Credit
Overview
Strategy Details
Available Vehicles
- Institutional Separate Account
Portfolio Managers
Elisabeth Colleran, CFA
Portfolio Manager, Co-Head of Emerging Markets Debt
Dilawer Farazi, ACA
Portfolio Manager, Co-Head of Emerging Markets Debt
David Rolley, CFA
Co-Head of the Global Fixed Income Team, Portfolio Manager
Eddy Sternberg
Portfolio Manager
About the Team
Focused on issuer selection as the key to unlocking alpha across sovereign, corporate and local currency markets
Investment Strategy
- Value-oriented portfolio investing primarily in hard currency emerging markets fixed income securities of corporations, quasi-sovereigns and sovereigns with duration of less than 5 years
- Target duration: 2 to 3 years, subject to market conditions
- Seeks to add value by combining top-down macroeconomic analysis with research-driven, bottom-up security selection
- Leverages Loomis Sayles’ extensive macroeconomic and credit research including coverage of more than 70 emerging markets countries and over 650 emerging markets corporate, sovereign and quasi-sovereign issuers*
- Typical average quality: BBB- and above
- Target volatility: 1.5% to 3% per year
- Typical portfolio: 150 to 175 issuers
Composite Performance
Cumulative Total Return (%)
As of 9/30/2025| Period | Gross | Net | Index |
|---|---|---|---|
| 3 Months | 2.41% | 2.30% | 1.08% |
| Year-To-Date | 6.52% | 6.17% | 3.17% |
Annualized Total Return (%)
As of 9/30/2025| Period | Gross | Net | Index |
|---|---|---|---|
| 1 Year | 6.75% | 6.27% | 4.38% |
| 3 Years | 7.89% | 7.41% | 4.77% |
| 5 Years | 3.33% | 2.92% | 2.98% |
| 10 Years | 4.01% | 3.61% | 2.08% |
| Since 5/1/2014 | 3.66% | 3.25% | 1.83% |
Period Performance (%)
As of 9/30/2025| Year | Gross | Net | Index |
|---|---|---|---|
| 2024 | 7.40% | 6.92% | 5.25% |
| 2023 | 7.06% | 6.58% | 5.01% |
| 2022 | -7.41% | -7.75% | 1.46% |
| 2021 | 0.92% | 0.59% | 0.05% |
| 2020 | 5.25% | 4.90% | 0.67% |
| 2019 | 8.77% | 8.41% | 2.28% |
| 2018 | 0.87% | 0.51% | 1.87% |
| 2017 | 4.98% | 4.60% | 0.86% |
| 2016 | 6.00% | 5.53% | 0.33% |
| 2015 | 1.38% | 0.90% | 0.05% |
Documents
*A quasi sovereign is defined as being 100% guaranteed or 100% owned by the government. A sovereign is hard currency debt issued by an emerging market government.
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, 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 of at least $20 million managed by Loomis Sayles and that primarily invest in hard currency debt of corporate and quasi-sovereign entities located in emerging market economies with duration of less than 5 years. Loomis Sayles’s security level research and significant tactical country and sector allocation are primary alpha sources for this product. Prior to January 1, 2018 the Composite minimum account size requirement was $5 million. The Composite inception date is May 1, 2014. The Composite was created in July 2014.