Senior Floating Rate and Fixed Income Fund
Overview
Fund Details
Portfolio Managers
Matt Eagan, CFA
Portfolio Manager, Head of Full Discretion
Michael Klawitter, CFA
Portfolio Manager, Bank Loans Strategist
Heather Young, CFA
Portfolio Manager, Bank Loans Strategist
Peter Sheehan
Portfolio Manager
Eric Williams
Portfolio Manager
Associate Portfolio Manager3
Chris Romanelli, CFA
Portfolio Manager, Associate Portfolio Manager, High Yield Corporate Strategist
Fund Facts
About the Team
High-conviction, active credit investors focused on results.
Our Performance data shown represents past performance and is no guarantee of future results. Investment return and value will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, please see the tab labeled “Performance”.
Why Choose this Fund?
- To manage interest rate risk, as bank loan coupons are adjusted up in a rising rate environment
- To enhance diversification, as floating rate bank loans typically have a low correlation to traditional fixed income and equity markets
- As a way to manage overall portfolio duration while still gaining exposure to corporate debt.
Investment Strategy
- Portfolio selection is based on value-driven, opportunistic approach to investing in senior secured floating rate loans and other fixed income securities
- Allocations to out-of-benchmark securities for offensive and defensive purposes
- Macro-guided portfolio construction
- Long-term investment horizon
- Draws on Loomis Sayles’ deep fundamental credit research capabilities and experience
- Will invest at least 65% in floating rate loans
- May invest up to 35% of assets in other fixed income securities
- May invest up to 20% of assets in non-US issuers, including 10% in emerging market debt securities
About Risk
- Floating-rate loans are often lower-quality debt securities and may involve greater risk of price changes and greater risk of default on interest and principal payments. The market for floating-rate loans is largely unregulated and these assets usually do not trade on an organized exchange. As a result, floating-rate loans can be relatively illiquid and hard to value.
- Fixed income securities may carry one or more of the following risks: credit, interest rate (as interest rates rise bond prices usually fall), inflation and liquidity.
- Below investment grade fixed income securities may be subject to greater risks (including the risk of default) than other fixed income securities.
- Foreign and emerging market securities may be subject to greater political, economic, environmental, credit, currency and information risks. Foreign securities may be subject to higher volatility than US securities due to varying degrees of regulation and limited liquidity. These risks are magnified in emerging markets.
- Non-diversified funds invest a greater portion of assets in fewer securities and therefore may be more vulnerable to adverse changes in the market.
Performance
Cumulative Total Return (%)
As of 11/30/2025| Class Y | Return |
|---|---|
| 3 Months | 0.41% |
| Year-To-Date | 4.75% |
Annualized Total Return (%)
As of 11/30/2025| Class Y | Return |
|---|---|
| 1 Year | 5.18% |
| 3 Years | 8.53% |
| 5 Years | 5.34% |
| 10 Years | 4.68% |
| Since Inception | 5.08% |
Cumulative Total Return (%)
As of 9/30/2025| Class Y | Return |
|---|---|
| 3 Months | 1.56% |
| Year-To-Date | 4.42% |
Annualized Total Return (%)
As of 9/30/2025| Class Y | Return |
|---|---|
| 1 Year | 7.00% |
| 3 Years | 8.84% |
| 5 Years | 5.82% |
| 10 Years | 4.50% |
| Since Inception | 5.12% |
Performance data shown represents past performance and is no guarantee of future results. Total return and value will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. Returns include changes in share price and reinvestment of dividends and capital gains, if any.
Rankings
Lipper Ranking
As of 11/30/2025| Class Y | Rank | Percentile |
|---|---|---|
| 1 Year | 81/236 | 34% |
| 3 Years | 75/218 | 34% |
| 5 Years | 119/205 | 58% |
| 10 Years | 75/166 | 45% |
Morningstar Ranking
As of 11/30/2025| Class Y | Rank | Percentile |
|---|---|---|
| 1 Year | 97/215 | 45% |
| 3 Years | 94/212 | 44% |
| 5 Years | 128/201 | 64% |
| 10 Years | 84/169 | 50% |
Lipper rankings are based on total returns calculated by each ranking entity. Rankings do not take into account sales charges, if applicable, but include reinvestment of dividends and capital gains, if any.
Morningstar Percentile Rankings are based on total return and do not account for sales charges. Percentile ranks are based on absolute rank within specific fund categories and time periods. Within a category, all funds’ percentile rankings range from 1 (best) to 100 (worst), with all intermediate values spread evenly over that range. The fund’s absolute peer ranking may not be available for all time periods. Morningstar does not calculate an absolute peer ranking when a fund’s performance has been linked to a preexisting share class.
Past performance is no guarantee of future results.
Documents
1 As of the most recent prospectus, the investment advisor has contractually agreed to waive fees and/or reimburse expenses (with certain exceptions) once the expense limitation of the fund has been exceeded. This arrangement is set to expire on 3/31/26. When an expense limitation has not been exceeded, the fund may have similar expense ratios and/or yields.
2The 30-day SEC yield is a standardized calculation, calculated by dividing the net investment income per share for the 30-day period by the maximum offering price per share at the end of the period and annualizing the result. Treasury Inflation-Protected Securities (TIPS) are designed to provide protection against inflation through monthly adjustments to the principal value of TIPS, which increases with inflation and decreases with deflation as measured by the Consumer Price Index. Monthly principal adjustments for inflation (increases and decreases) are excluded from the 30-day SEC yield calculation. Such adjustments can vary substantially from one month to the next, and if they were included, may materially impact the 30-day SEC yield either higher or lower. A subsidized 30-day SEC yield reflects the effect of fee waivers and expense reimbursements. The SEC yield is not based upon distributions of the fund and actual income distributions may be higher or lower than the 30-day SEC yield amounts. During periods of unusual market conditions and/or activity in the sales or redemptions of fund shares, the fund’s 30-day SEC yield amounts may be materially higher or lower than its actual income distributions. Unsubsidized 30-day SEC yield is calculated using the gross expenses of the fund. Gross expenses do not include any fee waivers or reimbursement.
3Associate Portfolio Managers do not have discretion over the strategy.
Important Disclosures
Investing involves risk, including possible loss of principal.
There is no guarantee that the investment objective will be realized or that the fund will generate positive or excess return.
Diversification does not ensure a profit or guarantee against a loss.
The Morningstar LSTA US Leveraged Loan Index reflects the market-weighted performance of institutional leveraged loans based upon real-time market weightings, spreads and interest payments. Indexes are unmanaged and do not incur fees. It is not possible to invest directly in an index.
Lipper Analytical Services Inc., a Thomson Reuters Company, is a nationally recognized organization that provides performance information for mutual funds. Copyright 2025 © Reuters. All rights reserved. Any copying, republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
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Class N shares of the Fund are subject to a $1,000,000 initial investment minimum. There is no initial investment minimum for Certain Retirement Plans and funds of funds that are distributed by Natixis Distribution, LLC (the “Distributor”).
Before investing, consider the fund’s investment objectives, risks, charges, and expenses. You may obtain a prospectus or a summary prospectus containing this and other information on this website. Read it carefully.
Natixis Distribution, LLC (fund distributor, member FINRA|SIPC) and Loomis, Sayles & Company, L.P. are affiliated.
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