Effective 12/31/2023, Elaine Stokes will no longer serve as a portfolio manager for the Strategy. The Core Plus Full Discretion strategy seeks to maximize total return through research driven security selection while managing downside risk through careful portfolio constructionPrimary Benchmark:Bloomberg US Aggregate IndexStrategy Highlights Maximum <BB: 15% Maximum emerging markets debt: 15% Maximum non-US dollar: 20% 5% maximum per issuer, GSEs excluded 25% maximum per corporate industry Portfolio Management Team Portfolio Managers Matt Eagan, CFA Elaine Stokes Brian Kennedy Associate Portfolio Manager Bryan Hazelton, CFA The Composite includes all discretionary accounts with market values greater than $5 million managed by Loomis Sayles with the objective of maximizing total return through individual security selection with a 15% limit in high yield securities and use of out-of-benchmark sectors including but not limited to non-US dollar denominated, emerging market debt, convertibles, securitized debt and bank loans. Yield curve and duration management provide additional tactical tools for the portfolio management team with strategic allocation to higher yielding credit sensitive sectors employing Loomis Sayles security level research and significant allocation to non-index sectors as primary sources of alpha. Tracking error is not explicitly targeted for this product, however, historically these portfolios have exhibited annualized tracking error of approximately 300-500 basis points. As of 1/1/2021 the Composite was redefined to include commingled vehicles, previously only separate accounts were included. The Composite inception date is January 1, 1989. The Composite was created in 2003.