World Credit Asset

The World Credit Asset strategy seeks to maximize return potential by investing in what we consider to be attractive issuers in the global investment grade credit, high yield credit, bank loan, securitized, and emerging markets sectors based on the current phase of the global credit cycle
Strategy Assets $3.7 billion As of 9/30/2025
Asset Class Fixed
Inception Date 8/1/2013

Overview

Strategy Details

Primary Benchmark
50% Bloomberg Global Aggregate Corporate – USD Hedged/25% Bloomberg Global High Yield – USD Hedged/15% JP Morgan Corporate Emerging Markets Bond Index Broad Diversified/10% Morningstar LSTA US Leveraged Loan Index

Available Vehicles

  • Institutional Separate Account
  • Commingled Trust
    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

Kevin Kearns

Portfolio Manager, Head of Alpha Strategies

39 yearsIndustry Experience
18 yearsTenure at Loomis Sayles

Andrea DiCenso

Portfolio Manager

22 yearsIndustry Experience
19 yearsTenure at Loomis Sayles

Tom Stolberg, CFA

Portfolio Manager

31 yearsIndustry Experience
17 yearsTenure at Loomis Sayles

Associate Portfolio Manager3

Peter Yanulis

Portfolio Manager, Associate Portfolio Manager, Strategist

18 yearsIndustry Experience
10 yearsTenure at Loomis Sayles

About the Team

Alpha Strategies

A multi-asset investment platform built on the integration of fundamental insight and quantitative innovation.

$9.0B* assets under management (as of 9/30/2025)

Investment Strategy

  • Multi asset credit (MAC) strategy that seeks to capture credit risk premiums in markets that we believe can offer strong risk-adjusted return potential over a full market cycle
  • Asset allocation determined by evaluating the current stage of the global credit cycle and the attractiveness of the various sectors
  • Top-down analysis driven by real-time market data, economic releases, and market technicals, coupled with our quantitative models
  • Bottom-up analysis is driven by the portfolio management team’s daily interaction with sector teams and the insights the teams generate
  • Duration: 0-7 years
  • Maximum below investment grade: 100%
  • Currency: 10% maximum non-US dollar after hedges*
  • Derivatives: Yes
  • Leverage: None; not including use of futures for duration and interest rate management

Composite Performance

Cumulative Total Return (%)
As of 9/30/2025
Period Gross Net Index
3 Months 3.09%2.97%2.44%
Year-To-Date 7.88%7.48%6.49%
Annualized Total Return (%)
As of 9/30/2025
Period Gross Net Index
1 Year 6.83%6.30%6.06%
3 Years 9.42%8.88%9.35%
5 Years 3.34%2.83%3.09%
10 Years 4.73%4.21%4.45%
Since 10/1/2013 4.58%4.06%4.30%
Period Performance (%)
As of 9/30/2025
Year Gross Net Index
2024 5.61%5.09%6.54%
2023 9.86%9.32%10.67%
2022 -12.38%-12.82%-11.74%
2021 0.90%0.40%0.89%
2020 10.60%10.05%7.03%
2019 13.39%12.83%12.45%
2018 -1.94%-2.43%-1.36%
2017 6.91%6.38%6.56%
2016 10.99%10.45%9.43%
2015 -1.66%-2.15%-0.13%
Inception Date 8/1/2013

Documents

*Non-US Dollar-denominated investments may not exceed 10% of the Composite, excluding the Senior Loan Fund, LLC, which allows for up to 5% of its total assets in senior loans denominated in currencies other than USD.

3Associate Portfolio Managers do not have discretion over the strategy.

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.

Commodity, interest and derivative trading involves substantial risk of 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 at least $75 million managed by Loomis Sayles that seek to maximize risk-adjusted returns by allocating across the credit spectrum based on macro analysis of economic regimes and the global credit cycle. 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 global investment grade credit, high yield credit, bank loan, securitized and emerging markets. Interest rate duration is managed from zero to seven years. The Composite inception date is October 1, 2013. The Composite was created in March 2014.