Investment Grade Intermediate Corporate Bond

The Investment Grade Intermediate Corporate Bond strategy seeks total investment return through a combination of current income and capital appreciation within benchmark-aware risk and return objectives
Strategy Assets $32.9 billion As of 9/30/2025
Asset Class Fixed
Inception Date 10/1/1996

Overview

Strategy Details

Primary Benchmark
Bloomberg US Intermediate Corporate Index

Available Vehicles

  • Institutional Separate Account

Portfolio Managers

Rick Raczkowski

Portfolio Manager, Co-Head of Relative Return

36 yearsIndustry Experience
24 yearsTenure at Loomis Sayles

Devon McKenna, CFA

Portfolio Manager and Investment Strategist

19 yearsIndustry Experience
18 yearsTenure at Loomis Sayles

About the Team

Relative Return

A comprehensive fixed income platform powered by seasoned investors and focused, benchmark aware investment strategies.

$135.4B assets under management (as of 9/30/2025)

Investment Strategy

  • Individual investment ideas are evaluated on the basis of their investment return potential and contribution to portfolio risk
  • Risk is managed through carefully monitoring company fundamentals and spread-to-risk analysis
  • Fundamental research from Loomis Sayles’ credit research is a primary source for investment ideas
  • Duration is managed within a narrow range to the benchmark
  • Portfolios may allow opportunistic allocations to high yield corporate debt, emerging markets and non-US dollar per client guidelines
  • Issuer maximum of 5% 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)

Composite Performance

Cumulative Total Return (%)
As of 9/30/2025
Period Gross Net Index
3 Months 2.14%2.06%2.04%
Year-To-Date 6.70%6.45%6.58%
Annualized Total Return (%)
As of 9/30/2025
Period Gross Net Index
1 Year 5.28%4.94%5.08%
3 Years 7.48%7.15%6.98%
5 Years 2.16%1.88%1.69%
10 Years 3.73%3.47%3.12%
Since 10/1/1996 5.51%5.26%4.91%
Period Performance (%)
As of 9/30/2025
Year Gross Net Index
2024 4.74%4.41%4.22%
2023 8.00%7.66%7.29%
2022 -9.79%-9.98%-9.40%
2021 -0.27%-0.48%-1.00%
2020 9.34%9.10%7.47%
2019 11.16%10.92%10.14%
2018 -0.50%-0.72%-0.23%
2017 4.76%4.53%3.92%
2016 5.41%5.19%4.04%
2015 0.23%0.01%1.08%
Inception Date 10/1/1996

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.

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 separate accounts with market values greater than $20 million managed by Loomis Sayles and invests primarily in investment grade US domestic credit securities with a focus on intermediate duration with a maximum allocation of up to 20% in high yield securities. Prior to June 1, 2015 the Composite minimum account size requirement was $5 million. The Composite inception date is October 1, 1996. The Composite was created in July 2001.