Investment Grade Intermediate Corporate Bond
The Investment Grade Intermediate Corporate Bond strategy seekstotal investment return through a combination of current income and capital appreciation within benchmark-aware risk and return objectives
Primary Benchmark:
Bloomberg US Intermediate Corporate Index
Strategy Highlights
- Duration is managed within a narrow range to the benchmark
- Opportunistic allocations to high yield corporate debt, emerging markets and non US dollar allowed per client guidelines
- 5% issuer maximum or the benchmark weight plus 2% (whichever is greater at the time of purchase), Treasurys and GSEs excluded
- 25% industry maximum or benchmark weighting plus 10% (whichever is greater at the time of purchase)
1 Strategy assets are comprised of Investment Grade Corporate and Investment Grade Intermediate Corporate.
The Composite includes all discretionary separate accounts with market values greater than $20 million managed by Loomis Sayles and invests primarily in investment grade US domestic credit securities with a focus on intermediate duration with a maximum allocation of up to 20% in high yield securities. Prior to June 1, 2015 the Composite minimum account size requirement was $5 million. The Composite inception date is October 1, 1996. The Composite was created in 2001.
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Strategy Facts as of 6/30/2023
| Strategy Inception | 10/1/1996 |
| Strategy Assets 1 | $18.3 billion |
| Composite Assets | $1.4 billion |
| Number of Composite Accounts | 4 |
Primary Benchmark:
Bloomberg US Intermediate Corporate Index
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Quarter-End Performance as of 6/30/2023 | Cumulative | Gross | Net | Index |
|---|
| 3 month | 0.06% | -0.02% | -0.16% | | Year-to-date | 2.80% | 2.63% | 2.33% |
Trailing Performance as of 6/30/2023 | Average Annualized Return | Gross | Net | Index |
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| 1 year | 2.65% | 2.37% | 1.85% | | 3 years | -1.18% | -1.41% | -1.82% | | 5 years | 2.59% | 2.35% | 1.95% | | 10 years | 2.94% | 2.71% | 2.34% | | Since Inception 10/1/1996 | 5.35% | 5.11% | 4.73% |
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Period Performance | Year | Gross | Net | Index |
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| 2022 | -9.79% | -9.98% | -9.40% | | 2021 | -0.27% | -0.48% | -1.00% | | 2020 | 9.34% | 9.10% | 7.47% | | 2019 | 11.16% | 10.92% | 10.14% | | 2018 | -0.50% | -0.72% | -0.23% | | 2017 | 4.76% | 4.53% | 3.92% | | 2016 | 5.41% | 5.19% | 4.04% | | 2015 | 0.23% | 0.01% | 1.08% | | 2014 | 4.88% | 4.65% | 4.35% | | 2013 | 1.32% | 1.10% | 0.08% |
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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 |
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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%.
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.