Core Fixed Income
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.
- Separately Managed Accounts (SMA)
Portfolio Managers
Chris Harms
Portfolio Manager, Co-Head of Relative Return
Cliff Rowe, CFA
Portfolio Manager
Daniel Conklin, CFA
Portfolio Manager
About the Team
A comprehensive fixed income platform powered by seasoned investors and focused, benchmark aware investment strategies.
Investment Strategy
- Individual investment ideas are evaluated on the basis of their investment return potential and contribution to portfolio risk
- Top-down macroeconomic analysis combined with bottom-up security selection helps drive portfolio construction
- Seeks to create portfolios diversified by sector, industry and issuer
- Investment flexibility is constrained to the investment grade portion of the US fixed income markets
- Duration bands: +/- 1 year (typically within +/- 0.25 year) relative to the index
- All investments must be US dollar denominated
- Issuer maximum of 3% or the benchmark weight plus 2% (whichever is greater at the time of purchase), Treasurys and GSEs excluded
- Industry maximum of 25% or the benchmark weight plus 10% (whichever is greater at the time of purchase)
- Investment universe typically includes US Treasurys, agencies, asset-backed securities (ABS), commercial mortgage-backed securities (CMBS), investment grade corporate bonds, mortgage-backed securities (MBS), and Yankee bonds
Composite Performance
Cumulative Total Return (%)
As of 9/30/2025| Period | Gross | Net | Index |
|---|---|---|---|
| 3 Months | 2.17% | 2.10% | 2.03% |
| Year-To-Date | 6.39% | 6.16% | 6.13% |
Annualized Total Return (%)
As of 9/30/2025| Period | Gross | Net | Index |
|---|---|---|---|
| 1 Year | 3.48% | 3.18% | 2.88% |
| 3 Years | 5.62% | 5.33% | 4.93% |
| 5 Years | 0.23% | -0.02% | -0.45% |
| 10 Years | 2.75% | 2.52% | 1.84% |
| Since 1/1/1989 | 5.99% | 5.70% | 5.31% |
Period Performance (%)
As of 9/30/2025| Year | Gross | Net | Index |
|---|---|---|---|
| 2024 | 2.48% | 2.19% | 1.25% |
| 2023 | 6.17% | 5.87% | 5.53% |
| 2022 | -12.89% | -13.06% | -13.01% |
| 2021 | -0.71% | -0.91% | -1.54% |
| 2020 | 9.69% | 9.48% | 7.51% |
| 2019 | 10.19% | 9.97% | 8.72% |
| 2018 | 0.24% | 0.04% | 0.01% |
| 2017 | 4.53% | 4.32% | 3.54% |
| 2016 | 4.14% | 3.93% | 2.65% |
| 2015 | 1.05% | 0.85% | 0.55% |
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, 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.
Diversification does not ensure a profit or guarantee against a loss.
Investment vehicles may not be available to all investors and are subject to eligibility.
The Composite includes all discretionary separate and commingled accounts with market values greater than $20 million managed by Loomis Sayles with investment guidelines prescribing investment in U.S. dollar denominated bonds that do not allow high yield and with the following characteristics. The portfolio has a total rate of return objective with an annualized tracking error target of 75 to 125 basis points over a full market cycle. Proprietary quantitative models are employed in portfolio construction and risk assessment. Loomis Sayles’s security level research and tactical sector allocation are primary alpha sources for this product. Yield curve and duration management are additional tools utilized by the portfolio management team. Prior to June 1, 2015 the Composite minimum account size requirement was $5 million. The Composite inception date is January 1, 1989. The Composite was created in 1993.