Global Credit/Corporate in USD
Overview
Strategy Details
Available Vehicles
- Institutional Separate Account
- Commingled TrustCommingled 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
David Rolley, CFA
Co-Head of the Global Fixed Income Team, Portfolio Manager
Lynda Schweitzer, CFA
Co-Head of the Global Fixed Income Team, Portfolio Manager
Scott Service, CFA
Portfolio Manager, Co-Head of Global Fixed Income
Heather Ridill, CFA
Global Credit Portfolio Manager
About the Team
Offering consistent and competitive risk-adjusted returns to our clients for decades.
Investment Strategy
- Follows a broad global universe of securities including corporate credits, asset-backed securities including mortgages, as well as government, quasi-government and agency securities
- Invests primarily in higher-quality fixed income securities of corporate issuers worldwide
- Value-driven approach implemented within a risk budgeting framework
- Seek to identify and create diversified portfolios with undervalued and preferably discount securities across relevant risk factors, including sector, country, curve and specific credit
- Invests in investment grade corporate and other credit sectors
- Seeks to manage risk through diversification and continuous monitoring of absolute risk and tracking error from benchmark
- Below investment grade: typically less than 20%
- Typical tracking error: 1% to 3%, depending on the market environment
- Typical portfolio: greater than 200 issues
Composite Performance
Cumulative Total Return (%)
As of 9/30/2025| Period | Gross | Net | Index |
|---|---|---|---|
| 3 Months | 1.87% | 1.76% | 1.82% |
| Year-To-Date | 9.95% | 9.62% | 9.62% |
Annualized Total Return (%)
As of 9/30/2025| Period | Gross | Net | Index |
|---|---|---|---|
| 1 Year | 5.33% | 4.91% | 5.00% |
| 3 Years | 8.66% | 8.25% | 8.29% |
| 5 Years | 0.60% | 0.27% | 0.17% |
| 10 Years | 3.34% | 3.05% | 2.51% |
| Since 2/1/2009 | 5.12% | 4.86% | 3.86% |
Period Performance (%)
As of 9/30/2025| Year | Gross | Net | Index |
|---|---|---|---|
| 2024 | 0.88% | 0.48% | 0.71% |
| 2023 | 9.89% | 9.46% | 9.24% |
| 2022 | -17.17% | -17.36% | -16.96% |
| 2021 | -3.17% | -3.39% | -3.21% |
| 2020 | 13.20% | 12.92% | 10.03% |
| 2019 | 12.21% | 11.94% | 10.74% |
| 2018 | -3.67% | -3.90% | -3.17% |
| 2017 | 10.41% | 10.15% | 8.93% |
| 2016 | 5.60% | 5.36% | 3.67% |
| 2015 | -3.74% | -3.95% | -3.55% |
Documents
Investment vehicles are subject to eligibility and availability. Separate accounts are available based on client preference and mandate size.
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.
Commodity interest and derivative trading involves substantial risk of loss.
Diversification does not ensure a profit or guarantee against a loss.
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 $10 million managed by Loomis Sayles with guidelines prescribing investment in foreign bonds as well as U.S. dollar denominated bonds, that are benchmarked against the Bloomberg Global Aggregate –Credit or similar index, and with the following characteristics. The Composite’s focus is on ‘spread’ product, and the predominant ‘spread’ product instruments being used are corporate bonds, securitized bonds or both. The accounts and the benchmarks associated with the Composite are all unhedged and expressed in U.S. Dollars. Prior to June 1, 2024 the Composite minimum account size requirement was $20 million and prior to July 1, 2016, the minimum account size requirement was $5 million. The Composite inception date is February 1, 2009. The Composite was created in September 2010.