Emerging Markets Short Duration Credit
The Emerging Markets Short Duration Credit strategy seeks to provide investment return through income
Primary Benchmark:
ICE BoA Merrill Lynch US Dollar 3-month LIBOR Constant Maturity
Strategy Highlights
- Value-oriented portfolio investing primarily in hard currency emerging markets fixed income securities of corporations, quasi-sovereigns and sovereigns with duration of less than 5 years
- Target duration: 2 to 3 years, subject to market conditions
- Typical average quality: BBB- and above
- Target volatility: 1.5% to 3% per year
- Typical portfolio: 150 to 175 issuers
The strategy is non-benchmark oriented. The ICE Bank of America Merrill Lynch US Dollar 3-month LIBOR Constant Maturity index is shown as a hurdle rate for informational purposes only.
The Emerging Markets Short Duration Credit Composite includes all discretionary accounts with market values greater than $5 million managed by Loomis Sayles and that primarily invest in hard currency debt of corporate and quasi-sovereign entities located in emerging market economies with duration of less than 5 years. Loomis Sayles’s security level research and significant tactical country and sector allocation are primary alpha sources for this product. The Composite was created in 2014.
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Primary Benchmark: ICE BoA Merrill Lynch US Dollar 3-month LIBOR Constant Maturity
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Month-End Performance as of 10/31/2019 | Cumulative | Gross | Net | Index |
|---|
| 3 month | 1.20% | 1.12% | 0.62% | | Year-to-date | 7.61% | 7.31% | 2.27% |
Quarter-End Performance as of 9/30/2019 | Cumulative | Gross | Net | Index |
|---|
| 3 month | 1.19% | 1.10% | 0.62% | | Year-to-date | 6.97% | 6.70% | 2.06% |
Trailing Performance as of 9/30/2019 | Average Annualized Return | Gross | Net | Index |
|---|
| 1 year | 7.34% | 6.98% | 2.64% | | 3 years | 4.21% | 3.83% | 1.81% | | 5 years | 3.88% | 3.46% | 1.24% | | Since Inception 5/1/2014 | 3.91% | 3.49% | 1.16% |
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Period Performance | Year | Gross | Net | Index |
|---|
| 2018 | 0.87% | 0.51% | 2.08% | | 2017 | 4.98% | 4.60% | 1.11% | | 2016 | 6.00% | 5.53% | 0.66% | | 2015 | 1.38% | 0.90% | 0.23% | | 2014* | 1.13% | 0.79% | 0.15% |
* Since Inception 5/1/2014 |
Performance data shown represents past performance and is no guarantee of, and not necessarily indicative 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 as of -1/-1/-1
| Currency Distribution | |
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| @ERROR% | | Duration Distribution | |
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| @ERROR% |
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| Sector Distribution (Fixed) * | |
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| 0.0% | | Country Distribution | |
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| @ERROR% | | Maturity Distribution | |
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| @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 as of -1/-1/-1
| Currency Distribution | Fund | Index |
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| @ERROR% | 0.0% | | Duration Distribution | Fund | Index |
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| @ERROR% | @ERROR% |
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| Sector Distribution (Fixed) * | Fund | Index |
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| 0.0% | 0.0% | | 0.0% | 0.0% | | Country Distribution | Fund | Index |
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| @ERROR% | 0.0% | | Maturity Distribution | Fund | Index |
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| @ERROR% | @ERROR% | | Credit Quality | Fund | Index |
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| @ERROR% | 0.0% |
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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%.