World Credit Asset Overview Composite Performance Overview 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 Primary Benchmark50% Bloomberg Global Aggregate Corporate - USD Hedged/25% Bloomberg Global High Yield - USD Hedged/15% JP Morgan Corporate Emerging Markets Bond Index Broad Diversified/10% Morningstar LSTA US Leveraged Loan IndexPortfolio ManagementPortfolio Managers Kevin Kearns Portfolio Manager & Head of Alpha Strategies Read bio Andrea DiCenso Portfolio Manager Read bio Tom Stolberg Portfolio Manager Read bio Associate Portfolio Manager Peter Yanulis Portfolio Manager & Strategist Read bio Strategy Highlights Multi asset credit (MAC) strategy that seeks to capture credit risk premiums in markets that we believe can offer strong risk-adjusted return potential 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 Portfolio Construction Duration: 0-7 years Maximum below investment grade: 100% Currency: 10% maximum non-US dollar after hedges Derivatives: Yes Leverage: None** Strategy Facts as of 3/31/2025Strategy Inception8/1/2013Strategy Assets$4.2 billionComposite Assets$1.3 billionNumber of Composite Accounts3Fact Sheet Additional ContentMore on Alpha Strategies Learn More About the Team Explore more about the team’s philosophy, offerings, and insights.Learn More **Non-US Dollar-denominated investments may not exceed 10% of the Composite, excluding the Senior Loan Fund, LLC, which allows for up to 5% of its total assets in senior loans denominated in currencies other than USD. The World Credit Asset Composite includes all discretionary accounts with market values greater than $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 2014. Performance Primary Benchmark50% Bloomberg Global Aggregate Corporate - USD Hedged/25% Bloomberg Global High Yield - USD Hedged/15% JP Morgan Corporate Emerging Markets Bond Index Broad Diversified/10% Morningstar LSTA US Leveraged Loan Index Quarter-End Performance as of 3/31/2025CumulativeGrossNetIndex3 month1.39%1.26%1.59% Year-to-date1.39%1.26%1.59%Trailing Performance as of 3/31/2025Annualized Total ReturnGrossNetIndex1 year5.94%5.41%6.85% 3 years2.77%2.26%4.01% 5 years5.24%4.72%4.54% 10 years3.86%3.35%3.72% Since Inception 10/1/20134.22%3.70%4.06% Period PerformanceYearGrossNetIndex20245.61%5.09%6.54% 20239.86%9.32%10.67% 2022-12.38%-12.82%-11.74% 20210.90%0.40%0.89% 202010.60%10.05%7.03% 201913.39%12.83%12.45% 2018-1.94%-2.43%-1.36% 20176.91%6.38%6.56% 201610.99%10.45%9.43% 2015-1.66%-2.15%-0.13% 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