Global World Bond in USD (High Yield Eligible)
Overview
Strategy Details
Available Vehicles
- Institutional Separate Account
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
About the Team
Offering consistent and competitive risk-adjusted returns to our clients for decades.
Investment Strategy
- Our investment philosophy combines top-down macroeconomic insights with intensive bottom-up credit research across major sectors of the bond market
- Our sovereign research universe is comprised of more than 100 countries, and portfolios are typically invested in 25 to 35 countries
- Invests across a broad global universe of securities including government, quasi-government and agency securities, corporate credits, and asset-backed securities including mortgages
- Seeks to identify and create diversified portfolios with undervalued and preferably discount securities across relevant risk factors, including country, currency, curve, sector and specific credit
- Seeks to manage risk through diversification and continuous monitoring of absolute risk and tracking error from the benchmark
- Below investment grade is typically limited to 20%
- Emerging markets debt allocation: generally less than 25%
- Typical tracking error: 1% to 4%, 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 | 0.46% | 0.36% | 0.16% |
| Year-To-Date | 9.00% | 8.68% | 7.43% |
Annualized Total Return (%)
As of 9/30/2025| Period | Gross | Net | Index |
|---|---|---|---|
| 1 Year | 2.63% | 2.22% | 1.59% |
| 3 Years | 5.46% | 5.05% | 4.45% |
| 5 Years | -2.14% | -2.47% | -3.02% |
| 10 Years | 1.43% | 1.12% | 0.40% |
| Since 1/1/1998 | 4.35% | 4.06% | 3.07% |
Period Performance (%)
As of 9/30/2025| Year | Gross | Net | Index |
|---|---|---|---|
| 2024 | -2.98% | -3.36% | -2.87% |
| 2023 | 5.73% | 5.31% | 5.19% |
| 2022 | -18.30% | -18.54% | -18.26% |
| 2021 | -6.64% | -6.90% | -6.97% |
| 2020 | 14.07% | 13.76% | 10.11% |
| 2019 | 7.81% | 7.52% | 5.90% |
| 2018 | -2.17% | -2.42% | -0.84% |
| 2017 | 9.97% | 9.69% | 7.49% |
| 2016 | 3.52% | 3.23% | 1.60% |
| 2015 | -4.37% | -4.64% | -3.57% |
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, 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.
Strategy assets are comprised of Loomis Sayles Global Bond style accounts including Global Aggregate Bond, Global World Bond, and Global Debt Unconstrained and other Global Bond investment styles.
The Composite includes all discretionary accounts with market values of at least $10 million managed by Loomis Sayles with guidelines prescribing investment in investment grade and high yield foreign bonds as well as U.S. dollar denominated bonds, that are benchmarked against the Citigroup WGBI or similar index. The out of benchmark high yield allocation is typically below 20%. 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 January 1, 1998. The Composite was created in November 2015.