World Credit Asset

The World Credit Asset strategy seeks to maximize return potential by investing in what we consider to be attractive issuers in the global investment grade credit, high yield credit, bank loan, securitized and emerging markets sectors based on the current phase of the global credit cycle
Strategy Assets $3.8 billion As of 3/31/2026
Asset Class Fixed
Inception Date 8/1/2013

Overview

Strategy Details

Primary Benchmark
50% Bloomberg Global Aggregate Corporate Index USD Hedged
25% Bloomberg Global High Yield Index USD Hedged
15% JP Morgan Corporate Emerging Markets Bond Index Broad Diversified
10% Morningstar LSTA US Leveraged Loan Index

Available Vehicles

  • Institutional Separate Account

Portfolio Managers^

Kevin Kearns

Head of the Alpha Strategies Team, Portfolio Manager

40 years Industry Experience
19 years Tenure at Loomis Sayles

Andrea DiCenso

Portfolio Manager

23 years Industry Experience
20 years Tenure at Loomis Sayles

Tom Stolberg, CFA

Portfolio Manager

32 years Industry Experience
18 years Tenure at Loomis Sayles

Peter Yanulis

Portfolio Manager and Strategist

19 years Industry Experience
11 years Tenure at Loomis Sayles

Mark LaRochelle, CFA

Portfolio Manager

29 years Industry Experience
26 years Tenure at Loomis Sayles

About the Team

Alpha Strategies

A multi-asset investment platform built on the integration of fundamental insight and quantitative innovation.

$9.3B* assets under management (as of 3/31/2026)

Investment Strategy

  • Multi-asset credit (MAC) strategy that seeks to capture credit risk premiums in markets that we believe can offer strong risk-adjusted return over a full market cycle
  • Asset allocation determined by evaluating the current stage of the global credit cycle and the attractiveness of the various sectors
  • Top-down analysis driven by real-time market data, economic releases, and market technicals, coupled with our quantitative models
  • Bottom-up analysis is driven by the portfolio management team’s daily interaction with sector teams and the insights the teams generate
  • Duration: 0-7 years
  • Maximum below investment grade: 100%
  • Currency: 10% maximum non-US dollar after hedges*
  • Derivatives: Yes
  • Leverage: None; not including use of futures for duration and interest rate management

Composite Performance

Cumulative Total Return (%)
As of 3/31/2026
Period Gross Net Index
3 Months -0.52%-0.64%-0.56%
Year-To-Date -0.52%-0.64%-0.56%
Annualized Total Return (%)
As of 3/31/2026
Period Gross Net Index
1 Year 7.78%7.24%5.66%
3 Years 7.22%6.69%7.12%
5 Years 2.52%2.01%2.75%
10 Years 4.78%4.26%4.21%
Since 10/1/2013 4.50%3.98%4.19%
Period Performance (%)
As of 3/31/2026
Year Gross Net Index
2025 9.84%9.30%7.94%
2024 5.61%5.09%6.54%
2023 9.86%9.32%10.67%
2022 -12.38%-12.82%-11.74%
2021 0.90%0.40%0.89%
2020 10.60%10.05%7.03%
2019 13.39%12.83%12.45%
2018 -1.94%-2.43%-1.36%
2017 6.91%6.38%6.56%
2016 10.99%10.45%9.43%

Documents

^Tom Stolberg will step down as a Portfolio Manager effective 12/30/2026.

*Non-US Dollar-denominated investments may not exceed 10% of the Composite.

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,  Derivatives Risk, Leverage Risk, Counterparty Risk, Prepayment Risk and Extension Risk. Investing involves risk including possible loss of principal.

Commodity, interest and derivative trading involves substantial risk of 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 at least $75 million managed by Loomis Sayles that seek to maximize risk-adjusted returns by allocating across the credit spectrum based on macro analysis of economic regimes and the global credit cycle. Accessing a broad investment opportunity set allows the product team to seek to create a diversified portfolio with what the team believes are the most attractive issuers in the global investment grade credit, high yield credit, bank loan, securitized and emerging markets. Interest rate duration is managed from zero to seven years. The Composite inception date is October 1, 2013. The Composite was created in March 2014.

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