Multisector Credit
Overview
Strategy Details
Available Vehicles
- Institutional Separate Account
Portfolio Managers
Matt Eagan, CFA
Portfolio Manager, Head of Full Discretion
Brian Kennedy
Portfolio Manager
Peter Sheehan
Portfolio Manager
Associate Portfolio Managers3
Chris Romanelli, CFA
Portfolio Manager, Associate Portfolio Manager, High Yield Corporate Strategist
Bryan Hazelton, CFA
Portfolio Manager, Associate Portfolio Manager, Investment Grade Corporate Strategist
About the Team
High-conviction, active credit investors focused on results.
Investment Strategy
- High conviction, active credit manager
- Multisector credit strategy seeking to exploit cross-sector opportunities across credit markets
- Repeatable, deep value equity-like approach to fundamental research and issue selection
- Risk awareness tools overlay fundamental investment process
- May invest up to 50% in high yield securities
- Investments in non-US dollar denominated securities are not permitted
- Investments in equity securities are not permitted
- Maximum of 5% per non-government issuer (GSEs excluded)
- Maximum of 25% per industry
Composite Performance
Cumulative Total Return (%)
As of 9/30/2025| Period | Gross | Net | Index |
|---|---|---|---|
| 3 Months | 2.59% | 2.47% | 2.57% |
| Year-To-Date | 7.10% | 6.75% | 6.90% |
Annualized Total Return (%)
As of 9/30/2025| Period | Gross | Net | Index |
|---|---|---|---|
| 1 Year | 5.80% | 5.33% | 3.65% |
| 3 Years | 7.88% | 7.41% | 6.87% |
| 5 Years | 2.04% | 1.60% | 0.33% |
| 10 Years | 4.58% | 4.12% | 3.00% |
| Since 1/1/2010 | 6.09% | 5.62% | 3.86% |
Period Performance (%)
As of 9/30/2025| Year | Gross | Net | Index |
|---|---|---|---|
| 2024 | 4.95% | 4.48% | 2.03% |
| 2023 | 8.36% | 7.88% | 8.18% |
| 2022 | -12.50% | -12.86% | -15.26% |
| 2021 | -0.07% | -0.50% | -1.08% |
| 2020 | 14.75% | 14.24% | 9.35% |
| 2019 | 10.19% | 9.70% | 13.80% |
| 2018 | 0.08% | -0.37% | -2.11% |
| 2017 | 7.20% | 6.72% | 6.18% |
| 2016 | 10.81% | 10.32% | 5.63% |
| 2015 | -2.28% | -2.72% | -0.77% |
Documents
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, Prepayment Risk and Extension Risk. Investing involves risk including possible loss of principal.
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 greater than $20 million managed by Loomis Sayles with the objective of maximizing total return and higher levels of portfolio income through individual security selection with a 50% limit in high yield securities and use of out-of-benchmark sectors including but not limited to emerging market debt, convertibles, government debt, bank loans, and securitized debt (but excluding non-dollar and equity securities). Yield curve and duration management provide additional tactical tools for the portfolio management team with strategic allocation to higher yielding credit sensitive sectors employing Loomis Sayles security level research and significant allocation to non-index sectors as primary sources of alpha. Tracking error is not explicitly targeted for this product, however, historically these portfolios have exhibited annualized tracking error of approximately 200-600 basis points. The Composite inception date is January 1, 2010. The Composite was created in 2020.