Core Plus Fixed Income Overview Composite Performance Overview The Core Plus Fixed Income strategy seeks to outperform the Bloomberg US Aggregate Bond Index while maintaining a benchmark-aware risk return objective Primary BenchmarkBloomberg US Aggregate IndexPortfolio ManagementPortfolio Managers Peter Palfrey Portfolio Manager Read bio Rick Raczkowski Co-Head & Portfolio Manager, Relative Return Read bio Associate Portfolio Manager Michael Gladchun Associate Portfolio Manager Read bio Strategy Highlights Portfolio guidelines are broad, offering considerable investment flexibility Top-down macroeconomic analysis combined with bottom-up security selection helps drive portfolio construction Individual investment ideas are evaluated on the basis of their investment return potential and contribution to portfolio risk Duration bands: +/- 1.5 years relative to the index May invest up to 20% of the portfolio in high yield securities May invest up to 10% in non-US dollar denominated securities Allocations to emerging markets debt securities are allowed 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) Investment universe typically includes US Treasurys, agencies, mortgage-backed securities (MBS), asset-backed securities (ABS), commercial mortgage-backed securities (CMBS), investment grade corporate bonds, Yankee bonds, high yield corporate bonds, emerging markets debt and non-US dollar bonds Strategy Facts as of 3/31/2025Strategy Inception1/1/1986Strategy Assets$39.6 billionComposite Assets$32.8 billionNumber of Composite Accounts30Fact Sheet Additional ContentA Case for Core Plus Fixed Income Strategies in Defined Contribution Plans Associate Portfolio Managers do not have discretion over the strategy. The Composite includes all discretionary accounts with market values greater than $20 million managed by Loomis Sayles with investment guidelines which seek a maximum total return and allow a limited, yet discretionary, use of non-investment grade issues (greater than 10% up to a maximum of 25%). Investment in other non-benchmark sectors are also utilized, including non-USD denominated securities (typically ranging between 5% and 20%). As of 1/1/2021 the Composite was redefined to include commingled vehicles, previously only separate accounts were included. 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. Performance Primary BenchmarkBloomberg US Aggregate Index Quarter-End Performance as of 3/31/2025CumulativeGrossNetIndex3 month3.18%3.09%2.78% Year-to-date3.18%3.09%2.78%Trailing Performance as of 3/31/2025Annualized Total ReturnGrossNetIndex1 year4.64%4.28%4.88% 3 years1.01%0.69%0.52% 5 years1.25%0.95%-0.40% 10 years2.54%2.24%1.46% Since Inception 1/1/19896.45%6.17%5.29% Period PerformanceYearGrossNetIndex20241.19%0.85%1.25% 20236.52%6.16%5.53% 2022-12.23%-12.46%-13.01% 2021-0.85%-1.10%-1.54% 202011.49%11.19%7.51% 20199.66%9.36%8.72% 2018-0.25%-0.52%0.01% 20175.62%5.33%3.54% 20167.29%6.99%2.65% 2015-2.82%-3.08%0.55% 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. There is no guarantee that the investment objective will be realized or that the strategy will generate positive or excess return. Monthly Characteristics Monthly as of -1/-1/-1 Currency Distribution @ERROR% Duration Distribution @ERROR% Sector Distribution (Fixed) 0.0% Country Distribution @ERROR% Maturity Distribution @ERROR% Credit Quality @ERROR% Portfolio composition statistics are from the adviser’s internal system and may not match the fund’s regulatory documents.Credit Quality reflects the highest credit rating assigned to individual holdings of the fund among Moody’s, S&P or Fitch; ratings are subject to change. The fund’s shares are not rated by any rating agency and no credit rating for fund shares is implied. Bond credit ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Cash & Equivalents reflects unsettled trades, fees and derivatives. Negative Cash & Equivalents reflect the market value of future trade commitments for the fund. ABS/RMBS: Asset-Backed Securities/Residential Mortgage-Backed Securities. Agency MBS: Agency Mortgage-Backed Securities. CMBS: Commercial Mortgage-Backed Securities. Due to rounding, Sector, Currency, Country, Duration, Maturity and Quality distribution totals may not equal 100%. Quarterly Characteristics Quarterly as of -1/-1/-1 Currency DistributionFundIndex @ERROR%0.0% Duration DistributionFundIndex@ERROR%@ERROR% Sector Distribution (Fixed)FundIndex0.0%0.0% 0.0%0.0% Country DistributionFundIndex@ERROR%0.0% Maturity DistributionFundIndex @ERROR%@ERROR% Credit QualityFundIndex@ERROR%0.0% Portfolio composition statistics are from the adviser’s internal system and may not match the fund’s regulatory documents.Credit Quality reflects the highest credit rating assigned to individual holdings of the fund among Moody’s, S&P or Fitch; ratings are subject to change. The fund’s shares are not rated by any rating agency and no credit rating for fund shares is implied. Bond credit ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Cash & Equivalents reflects unsettled trades, fees and derivatives. Negative Cash & Equivalents reflect the market value of future trade commitments for the fund. ABS/RMBS: Asset-Backed Securities/Residential Mortgage-Backed Securities. Agency MBS: Agency Mortgage-Backed Securities. CMBS: Commercial Mortgage-Backed Securities. Due to rounding, Sector, Currency, Country, Duration, Maturity and Quality distribution totals may not equal 100%. Holdings Top Ten Holdings as of -1/-1/-1% Assets@ERROR% Top 10 holdings may not be representative of current or future holdings and will evolve over time. x < Page: / > Download PDF