Investment Grade Securitized Credit
Overview
Strategy Details
Available Vehicles
- Institutional Separate Account
Portfolio Managers
Alessandro Pagani, CFA
Portfolio Manager, Head of Mortgage and Structured Finance Team
Steve LaPlante, CFA
Portfolio Manager & Securitized Strategist
Jennifer Thomas
Portfolio Manager
About the Team
Diversified alpha through global asset-based investing.
Investment Strategy
- Credit focused strategy that seeks to outperform through both security selection and sector allocation within the non-agency securitized asset classes
- Seeks to maintain an investment grade risk profile but can hold securities if downgraded below investment grade
- Securitized credit generally results in a portfolio with shorter duration than overall fixed income market
- Ability to purchase agency mortgage-backed securities (agency MBS) for opportunistic as well as liquidity purposes
Composite Performance
Cumulative Total Return (%)
As of 9/30/2025| Period | Gross | Net | Index |
|---|---|---|---|
| 3 Months | 1.68% | 1.56% | 1.56% |
| Year-To-Date | 5.82% | 5.43% | 5.28% |
Annualized Total Return (%)
As of 9/30/2025| Period | Gross | Net | Index |
|---|---|---|---|
| 1 Year | 6.83% | 6.30% | 5.13% |
| 3 Years | 8.56% | 8.04% | 5.87% |
| 5 Years | 4.57% | 4.14% | 2.00% |
| 10 Years | 4.55% | 4.17% | 2.67% |
| Since 5/1/2009 | 7.13% | 6.75% | 4.18% |
Period Performance (%)
As of 9/30/2025| Year | Gross | Net | Index |
|---|---|---|---|
| 2024 | 10.29% | 9.75% | 5.96% |
| 2023 | 8.46% | 7.93% | 5.55% |
| 2022 | -5.93% | -6.22% | -7.20% |
| 2021 | 2.84% | 2.53% | 0.05% |
| 2020 | 5.85% | 5.53% | 5.20% |
| 2019 | 5.72% | 5.40% | 5.89% |
| 2018 | 3.68% | 3.35% | 1.74% |
| 2017 | 5.46% | 5.12% | 2.84% |
| 2016 | 4.14% | 3.80% | 2.71% |
| 2015 | 2.68% | 2.35% | 0.81% |
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, Derivatives Risk, Leverage Risk, Counterparty Risk, Non-US Securities Risk, Prepayment Risk, Extension Risk and Management 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.
Effective 6/30/2020 the Composite formerly known as Securitized Credit changed its name. The Composite includes all discretionary accounts with market values of at least $25 million managed by Loomis Sayles, with a credit focused strategy and guidelines that allow for investment grade average credit risk profile with the following additional considerations. The Composite seeks a high level of current income and total return through diversified exposure to non-agency securitized sectors: ABS, CMBS, and Non-agency MBS. The Composite inception date is May 1, 2009. The Composite was created in September 2010.