Emerging Markets Short Duration Credit
The Emerging Markets Short Duration Credit strategy seeks to provide investment return through income
Primary Benchmark:
ICE BofA 3-Month Treasury Bill Index
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 Emerging Markets Short Duration Credit Composite includes all discretionary accounts with market values greater than $20 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. Prior to January 1, 2018 the Composite minimum account size requirement was $5 million. The Composite inception date is May 1, 2014. The Composite was created in 2014.
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Strategy Facts as of 6/30/2023
| Strategy Inception | 3/31/2014 |
| Strategy Assets | $2.2 billion |
| Composite Assets | $1.1 billion |
| Number of Composite Accounts | 1 |
Primary Benchmark:
ICE BofA 3-Month Treasury Bill Index
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Quarter-End Performance as of 6/30/2023 | Cumulative | Gross | Net | Index |
|---|
| 3 month | 1.07% | 0.95% | 1.17% | | Year-to-date | 2.80% | 2.58% | 2.25% |
Trailing Performance as of 6/30/2023 | Average Annualized Return | Gross | Net | Index |
|---|
| 1 year | 2.97% | 2.54% | 3.59% | | 3 years | 0.44% | 0.08% | 1.27% | | 5 years | 2.31% | 1.95% | 1.55% | | Since Inception 5/1/2014 | 2.60% | 2.21% | 1.07% |
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Period Performance | Year | Gross | Net | Index |
|---|
| 2022 | -7.41% | -7.75% | 1.46% | | 2021 | 0.92% | 0.59% | 0.05% | | 2020 | 5.25% | 4.90% | 0.67% | | 2019 | 8.77% | 8.41% | 2.28% | | 2018 | 0.87% | 0.51% | 1.87% | | 2017 | 4.98% | 4.60% | 0.86% | | 2016 | 6.00% | 5.53% | 0.33% | | 2015 | 1.38% | 0.90% | 0.05% | | 2014* | 1.13% | 0.79% | 0.02% |
* 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% | |
| 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 |
|---|
| @ERROR% | 0.0% | | Duration Distribution | Fund | Index |
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| @ERROR% | @ERROR% |
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| Sector Distribution (Fixed) * | Fund | Index |
|---|
| 0.0% | 0.0% | | 0.0% | 0.0% | | Country Distribution | Fund | Index |
|---|
| @ERROR% | 0.0% | | Maturity Distribution | Fund | Index |
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| @ERROR% | @ERROR% | | Credit Quality | Fund | Index |
|---|
| @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%.
Top Ten Holdings
as of 6/30/2023 | % Assets |
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| @ERROR% |
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Top 10 holdings may not be representative of current or future holdings and will evolve over time.